How Much House Can I Afford in South Dakota?
Find out how much house you can afford in South Dakota with 1.31% property tax. Uses 28/36 rule with South Dakota-specific data.
How This Calculator Works
Calculation methodology and assumptions
Calculates home affordability in South Dakota using the 28/36 rule. Maximum 28% of gross monthly income for housing (PITI). Includes South Dakota's effective property tax rate of 1.31% and average home insurance of $2,800/year. Median home price in South Dakota: $270,000.
Key State Information
South Dakota housing market: Median home price $270,000 | Property tax rate 1.31% | Avg home insurance $2,800/yr | Median household income $63,920. Home prices are moderate relative to income.
Frequently Asked Questions
How much house can I afford on the median income in South Dakota?
With South Dakota's median household income of $63,920 and a 10% down payment, you can typically afford a home priced around $223,720-$287,640 depending on debts and interest rates. The median home in South Dakota costs $270,000.
What is the property tax rate in South Dakota?
South Dakota's effective property tax rate is 1.31%. On a $270,000 home, that's approximately $3,537/year or $295/month.
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