CALCMONEY // MORTGAGE // SD
Calculate your monthly mortgage payment using South Dakota-specific property tax rates, current average interest rates, and local median home prices.
Open Full Calculator$295,000
7%
1.28%
None
How today's 7% rate compares to recent years
| Period | 30-Yr Rate | vs. Today |
|---|---|---|
| 2026 (current) | 7% | — |
| 2024 avg | 7.42% | -0.42% |
| 2023 avg | 7.85% | -0.85% |
| 2022 peak | 7.68% | -0.68% |
| 2021 avg | 3.60% | +3.40% |
| 2020 avg | 3.40% | +3.60% |
Rate estimates based on Freddie Mac Primary Mortgage Market Survey national averages adjusted for South Dakota market conditions. Actual rates vary by lender and borrower profile.
| Principal & Interest | $1,570 |
| Property Tax | $315 |
| Homeowners Insurance (est.) | $98 |
| Total Monthly Payment (PITI) | $1,983 |
$59,000
$329,241
$84,991/yr
The median home price in South Dakota is $295,000, below the national median of $420,000. With a median household income of $63,900, the price-to-income ratio is 4.6x.
Property taxes in South Dakota average 1.28% of assessed value. On the median home, that is $3,776 per year, or $315 per month added to your mortgage payment.
South Dakota has no state income tax, which means more of your gross salary goes to your take-home pay. This effectively increases your purchasing power compared to states with income tax.
The cost of living index in South Dakota is 92 (national average = 100). Everyday expenses beyond housing are close to the national average.
Once you have your payment estimate, comparing lenders is the most important step. A 0.25% rate difference on a $236,000 loan saves $10,620 in interest over 30 years.
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