In 2021, around 71% of South Dakota residents were homeowners. The median home value for the state is $194,700.
South Dakota has a $1,042 average monthly mortgage payment and $6,147 as the average monthly income per household. These are estimates across the state and may vary depending on a person’s unique situation.
Our guide helps you understand the different factors that determine your monthly mortgage payment and how to use them with our South Dakota mortgage calculator. You can use it to get a personalized estimate to decide how much you can afford for your home loan, considering interest rate, down payment, property taxes, etc.
Plus, we include tips on how to lower a mortgage payment in South Dakota and what to do after you know how much home you can afford.