South Dakota · SD

South Dakota Mortgage Calculator

Pre-filled for South Dakota: median home price $275,000, average property tax rate 1.17%. Adjust any slider to make it yours.

No state income tax.

South Dakota housing at a glance

Median home price: $275,000
Effective property tax rate: 1.17% / yr
Annual property tax (median home): $3,218
Est. monthly tax escrow: $268
State income tax: None

Sources: regional housing data 2025 (median price), state assessor averages 2024–2025 (tax rate).

Buying a home in South Dakota

The median home price in South Dakota is around $275,000 and the effective property tax rate averages 1.17%of assessed value per year. Most lenders look for a debt-to-income (DTI) ratio under 43%, meaning your total monthly debt payments (including this mortgage) shouldn't exceed 43% of your gross income.

Because South Dakota has no state income tax, your net take-home pay is higher than in comparable-income states — which directly increases how much mortgage you can qualify for under DTI limits.

A 20% down payment on the median home in South Dakota is $55,000. Putting down at least 20% eliminates private mortgage insurance (PMI), which typically adds 0.3–1.5% of the loan amount per year to your monthly payment.

Transfer tax & closing costs in South Dakota

South Dakota charges a real estate transfer fee of $0.50 per $500 of price (0.1%).

Beyond transfer taxes, total closing costs in South Dakotatypically range from 2–5% of the purchase price — including lender origination fees, title insurance, appraisal, and prepaid interest. On the median home that's roughly $5,500–$13,750.

Foreclosure & legal context

Foreclosure type: Non-judicial (trustee sale)
Security instrument: Mortgage
Deficiency liability: Recourse

South Dakota mortgage FAQ

What is the monthly mortgage payment for a median-priced home in South Dakota?: At the current 30-year fixed rate of ~6.81%, a $275,000 home in South Dakota with 20% down ($55,000) carries a principal-and-interest payment of ~$1,436/mo. Add property tax (~$268/mo at 1.17%) and homeowners insurance and your total is roughly $1,704/mo. Use the calculator above to adjust for your exact down payment and rate.
What is the property tax rate in South Dakota?: The effective statewide property tax rate in South Dakota averages 1.17% of assessed value per year. On a $275,000 home, that works out to roughly $3,218 per year ($268/mo). Individual county rates vary.
Does South Dakota have a state income tax?: No, South Dakota has no state income tax — no state income tax. This can significantly improve affordability compared to high-income-tax states.
What are the closing costs and transfer taxes in South Dakota?: South Dakota charges a real estate transfer fee of $0.50 per $500 of price (0.1%).
What type of foreclosure does South Dakota use?: South Dakota uses non-judicial (trustee sale) foreclosure, which typically moves faster than court-supervised processes.

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