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Mortgage Calculator South Dakota — 2026 Payment Estimates
Pre-filled with South Dakota's estimated median home price of $298,000 and 1.14% effective property tax rate. Adjust any input for your specific situation. All calculations run in your browser.
Reviewed for accuracy June 2026 by Gary Sing
Median home price
$298,000
Monthly P&I (30yr)
$1,506.85
Property tax/month
$283.10
Est. total PITI/month
$1,901.70
Optional — unlocks affordability analysis
Enter gross income to check affordability
At the 28% front-end guideline, this payment requires ~$64,579/year in gross income. The monthly shown is principal and interest only — add ~$23 for taxes, insurance.
- ›A 15-year term saves $168,656 in total interest but raises the payment by $570/month
- ›Total interest ($304,066) exceeds the loan itself ($238,400) — every extra principal payment saves its full remaining interest
⚡ Total interest ($304,066) exceeds the loan principal — consider extra principal payments or a shorter term
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South Dakota mortgage payment scenarios — $298,000 home at 6.5%
Monthly P&I and estimated total PITI (principal, interest, tax, insurance) at three down payment levels. Property tax uses South Dakota's 1.14% effective rate; insurance estimated at 0.45% of home value annually.
| Down payment | Down amount | P&I (30yr) | P&I (15yr) | Total PITI (30yr) |
|---|---|---|---|---|
| 10% down | $29,800 | $1,695.21 | $2,336.31 | $2,090.06 |
| 15% down | $44,700 | $1,601.03 | $2,206.51 | $1,995.88 |
| 20% down | $59,600 | $1,506.85 | $2,076.72 | $1,901.70 |
P&I only (30yr and 15yr). PITI adds property tax (1.14%) and estimated homeowners insurance (0.45% annually). Does not include PMI — required when down payment is below 20%.
Property tax and insurance in South Dakota
South Dakota's effective property tax rate of 1.14% is near the national average. No state income tax partially offsets this and is a key financial consideration for many buyers.
South Dakota property tax
Effective rate: 1.14%. On a $298,000 home, annual property taxes are approximately $3,397 — or $283.10/month. Many lenders collect this monthly into an escrow account.
Homeowners insurance
Estimated at 0.45% of home value annually — roughly $111.75/month on a $298,000 home. Rates vary by coverage, age of home, and local risk factors. Get quotes from multiple insurers before closing.
PMI (if under 20% down)
Private Mortgage Insurance is required on conventional loans with less than 20% down, typically costing 0.5–1.5% of the loan amount per year. On a $238,400 loan, PMI adds roughly $178.80–$298.00/month.
Income needed
The 28% front-end DTI guideline requires approximately $81,501/year in gross income to qualify for the median South Dakota home with 20% down. This is principal, interest, tax, and insurance — not counting other debt.
South Dakota housing market 2026
Sioux Falls and Rapid City are the primary markets. South Dakota's no-income-tax environment makes it attractive for retirees and business owners. The market is stable with moderate appreciation.
Key numbers for South Dakota buyers
- Median home price: $298,000 (2026 estimate)
- Down payment (20%): $59,600
- Loan amount (80% LTV): $238,400
- Monthly P&I at 6.5% / 30yr: $1,506.85
- Est. PITI (with tax + insurance): $1,901.70/month
- Income needed (28% DTI): $81,501/year
- State income tax: None — a meaningful take-home pay advantage
Compare mortgage payments by state
📍 California
Median $750,000 · ~$3,793/mo P&I · 0.73% tax
📍 Texas
Median $315,000 · ~$1,593/mo P&I · 1.6% tax
📍 Florida
Median $405,000 · ~$2,048/mo P&I · 0.89% tax
📍 New York
Median $415,000 · ~$2,099/mo P&I · 1.4% tax
📍 Georgia
Median $325,000 · ~$1,643/mo P&I · 0.83% tax
📍 Arizona
Median $365,000 · ~$1,846/mo P&I · 0.6% tax
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Mortgage calculator South Dakota — frequently asked questions
What is the average mortgage payment in South Dakota?
Based on South Dakota's median home price of $298,000, a 30-year mortgage at 6.5% with 20% down produces a monthly principal and interest payment of $1,506.85. Adding property tax (~$283.10/month at 1.14%) and homeowners insurance (~$111.75/month) gives an estimated total PITI of approximately $1,901.70/month.
What is the median home price in South Dakota in 2026?
The estimated median home price in South Dakota in 2026 is approximately $298,000. Prices vary significantly by metro area — use this as a benchmark and enter the specific price you are evaluating in the calculator above.
How much income do I need to afford a house in South Dakota?
Using the 28% front-end DTI guideline, an estimated total monthly payment (PITI) of $1,901.70 on the median South Dakota home requires approximately $81,501/year in gross income. This assumes 20% down, 6.5% rate, 30-year term, and 1.14% property tax.
What are property taxes in South Dakota?
South Dakota's effective property tax rate is approximately 1.14%. On a $298,000 home, that is roughly $283.10/month or $3,397/year. South Dakota's effective property tax rate of 1.14% is near the national average. No state income tax partially offsets this and is a key financial consideration for many buyers.
Is a 15-year or 30-year mortgage better in South Dakota?
At 6.5% on a $298,000 home with 20% down: the 30-year P&I is $1,506.85/month; the 15-year P&I is $2,076.72/month — $569.87/month more. The 15-year saves $168,656 in total interest. If the higher payment is affordable, the 15-year is almost always the better long-term financial choice.