South Dakota Mortgage Calculator 2026

Calculate your monthly mortgage payment for a home in South Dakota (SD). The median home price in South Dakota is $236,800, with an effective property tax rate of 1.09% (ranked #19 nationally). Use our free calculator to compare FHA, VA, USDA, and conventional loan options with real South Dakota data.

South Dakota Property Tax Information

South Dakota has an effective property tax rate of 1.09%, ranking #19 among all 50 states. The median annual property tax is $2,590 ($216/month). Source: Tax Foundation 2025.

South Dakota Loan Limits 2026

FHA loan limit in South Dakota: $524,225 (floor) to $524,225 (ceiling for high-cost areas). Conforming loan limit: $806,500 (baseline) to $806,500 (ceiling).

Estimated Monthly Payment in South Dakota

For a median-priced home of $236,800 with 20% down ($47,360), at 6.5% interest over 30 years: estimated monthly principal and interest is $1,197, plus $216 in property taxes and approximately $125 in homeowner's insurance, for a total estimated payment of approximately $1,538/month.

South Dakota Closing Costs

Average closing costs in South Dakota are $1,551 (0.46% of purchase price), ranked #51 nationally. South Dakota charges a transfer tax on real estate transactions. Source: Bankrate/LodeStar 2025.

South Dakota Housing Market 2026

Home prices in South Dakota have increased 4.5% year-over-year. Average days on market: 38. Inventory level: moderate. Currently considered a buyer's market.

Down Payment Assistance Programs in South Dakota

South Dakota offers 2 down payment assistance programs through South Dakota Housing Development Authority (SDHDA):

  • Fixed Rate Plus (second mortgage): 0% interest, deferred payment second mortgage. - Up to Up to 5% of loan amount
  • Governor's Home Program (grant): For income-eligible first-time buyers. No repayment. - Up to Up to $5,000 grant

Contact SDHDA: https://www.sdhda.org | Phone: 605-773-3181

Did You Know About South Dakota?

  • South Dakota has the lowest closing costs in the nation
  • No state income tax
  • Transfer tax of just $0.50 per $500 of value
  • Sioux Falls is the largest and most competitive market

Frequently Asked Questions About Buying a Home in South Dakota

What is the average property tax rate in South Dakota?

The effective property tax rate in South Dakota is 1.09%, with a median annual tax of $2,590. This ranks #19 among all states.

What are the FHA loan limits in South Dakota for 2026?

The FHA loan floor in South Dakota is $524,225 and the ceiling is $524,225 for high-cost areas. The conforming loan limit baseline is $806,500.

How much are closing costs in South Dakota?

Average closing costs in South Dakota are $1,551, which is approximately 0.46% of the purchase price.

Are there first-time homebuyer programs in South Dakota?

Yes, South Dakota offers 2 down payment assistance programs through South Dakota Housing Development Authority, including grants, forgivable loans, and second mortgages.

Is South Dakota a good place to buy a home in 2026?

With a median home price of $236,800 and moderate inventory, South Dakota is currently a buyer's market. Home prices have increased 4.5% over the past year.

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Data last updated: 2025-11. This information is for educational purposes only and should not be considered financial advice.