South Dakota Mortgage Rates & Home Prices (2026)
Median price: $285,000 · Avg. rate: 6.88%
South Dakota Market Overview
$285,000
Median Home Price
6.88%
Avg. 30-Yr Rate
1.22%
Property Tax Rate
68.2%
Homeownership Rate
South Dakota has no state income tax and offers moderate housing costs. Sioux Falls drives the housing market with steady growth. SDHDA provides competitive fixed rates and the Governor's House Program offers affordable manufactured housing options.
Estimated Monthly Payment
Median home in South Dakota (20% down, 30-yr fixed)
$1,907/mo
Principal & Interest$1,499
Property Taxes$290
Home Insurance (est.)$119
Total Monthly (PITI)$1,907
Based on a $285,000 home with 20% down ($228,000 loan) at 6.88%. Does not include PMI, HOA, or other fees.
First-Time Buyer Programs in South Dakota
- SDHDA First-Time Homebuyer Program
- Governor's House Program
- SDHDA DPA Program
Contact your state's Housing Finance Agency for current program availability and requirements.
Rate Comparison: SD Rates
30-Year Fixed6.88%
15-Year Fixed6.12%
5/1 ARM (est.)6.13%
FHA 30-Year6.73%
VA 30-Year6.63%
Rates are estimates based on state averages and may vary by lender and borrower qualifications.
Frequently Asked Questions
Key Stats: SD
FHA Loan Limit$472,030
Median Income$67,742
Cost Index0.88x