Mortgage Calculator — South Dakota
Pre-filled with South Dakota's average home price of $265000, property tax rate of 1.3%, and average insurance of $1600/year. Adjust any value below.
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South Dakota Housing Market
South Dakota has no state income tax and a growing economy centered on Sioux Falls. The state's favorable tax environment attracts businesses and retirees, supporting steady demand in the Sioux Falls metro area.
Affordability in South Dakota
South Dakota remains affordable with medians near $265,000. Sioux Falls has seen the strongest appreciation but remains well within reach for households earning $65,000–$75,000 with a conventional mortgage.
Key Markets
First-Time Buyer Programs in South Dakota
First-Time Homebuyer Program
Fixed-rate mortgage for first-time buyers, with income and price limits.
Down Payment / Closing Cost Assistance
Help toward down payment and closing costs as a second loan, paired with an SDHDA first mortgage.
Programs are run by the South Dakota Housing (SDHDA). Income limits, price limits and assistance amounts change often — confirm current terms with the agency or an approved lender.
Property Tax in South Dakota
South Dakota has no state income tax, so property taxes are relatively high. Owner-occupied homes get a lower school levy, but only if you file the owner-occupied classification. At South Dakota's average effective rate of 1.3%, a $265,000 home pays roughly $3,440/year (about $287/month).
South Dakota Conforming Loan Limit
In 2026, the conforming loan limit is $832,750 in most counties. Designated high-cost areas can go up to $1,249,125. Loans above the limit are jumbo loans and usually need a larger down payment.
Closing Costs in South Dakota
South Dakota's transfer fee is $0.50 per $500 (0.1%) and is usually paid by the seller. Closing costs are low overall.
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