Buying in South Dakota: what the numbers look like
South Dakota sits mid-pack for property taxes — 1.01% average effective rate (18th of 50, national average ≈ 0.94%), which works out to about $3,030 a year on the typical $300,000 home. On the insurance side, South Dakota homeowners average about $3,700 a year — 38% above the 50-state average, so get quotes early; the premium can move a deal's math. Hail exposure keeps premiums high for the region.
Put together at an illustrative 6.5% rate (30-year, 20% down), the typical South Dakota purchase pencils out near $2,078/month: $1,517 principal & interest + $253 tax + $308 insurance. That's the number the calculator above starts from — swap in your real price, rate quote, and county figures to make it yours.
Property taxes & closing costs in South Dakota
Rates vary meaningfully by county and school district within South Dakota, so treat the 1.01% state average as a starting point and confirm your county's rate with the assessor before locking a budget.
Transfer tax: Transfer fee of $0.50 per $500 (0.1%). Closing costs also include lender, title, and recording fees — typically 2–5% of the price all-in.
South Dakota at a glance
| Typical home value (Zillow, 2025) | $300,000 (31st highest) |
| Avg. effective property tax (2023) | 1.01% ≈ $253/mo |
| Avg. home insurance (2025) | $3,700/yr ≈ $308/mo |
| Example payment (typical home, 6.5%, 20% down) | $2,078/mo |
Frequently asked questions
How much is the mortgage payment on a typical South Dakota home?
The typical South Dakota home runs about $300,000 (Zillow, 2025). With 20% down ($60,000) on a 30-year loan at an illustrative 6.5% rate, the full monthly payment is roughly $2,078 — $1,517 principal & interest, $253 property tax, and $308 insurance. Adjust every input above to match your own price and quote.
What is the property tax rate in South Dakota?
South Dakota's average effective rate is 1.01% of home value — the 18th highest in the nation (Tax Foundation, 2023 data). On the typical $300,000 home that is about $3,030 per year. Actual rates vary by county and city, so verify the figure for your specific address with the county assessor.
How much is homeowners insurance in South Dakota?
Roughly $3,700 per year on average for $300k of dwelling coverage (Bankrate, 2025) — above the 50-state average of $2,682. Hail exposure keeps premiums high for the region.
Nearby states & more tools
Compare: North Dakota mortgage calculator · Nebraska mortgage calculator · Minnesota mortgage calculator · Wyoming mortgage calculator — or see all 50 states compared.
Not sure of your price range? Start with the home affordability calculator, then fine-tune here. The full mortgage calculator has extra payments and PMI controls too.
Data & sources: Property tax — Effective property tax rate on owner-occupied housing, calendar year 2023 (Tax Foundation analysis of Census ACS data, published 2025). Home value — Typical home value, Zillow Home Value Index (ZHVI), 2025, rounded to the nearest $5,000. Insurance — Average annual homeowners insurance premium for $300k dwelling coverage (Bankrate/Quadrant 2025), rounded to the nearest $50. State-level figures are planning defaults, not quotes: property taxes vary by county and city, insurance varies by home and insurer, and home values move monthly. Every value prefills the calculator but remains editable. The 6.5% rate is illustrative, not an offer or a prediction — always enter a real quote.
Disclaimer: Educational purposes only — not financial advice. See our Terms of Use.