South Dakota Mortgage Calculator 2026
South Dakota has no state income tax and no state sales tax on most items, making it one of the most tax-friendly states in the nation. Sioux Falls has emerged as one of the fastest-growing cities in the Midwest, driven by financial services, healthcare, and a business-friendly environment.
Calculate Your South Dakota Mortgage Payment
Pre-filled with South Dakota averages — adjust any value to match your situation.
= $58,000 down
Estimated Monthly Payment Breakdown
Based on $290,000 home price, 20% down, 30-year fixed at 7.25%.
South Dakota Property Taxes & Income Tax
South Dakota has no state income tax — a significant financial advantage. Property taxes average 1.14%, close to the national average. The state offers a Homestead Exemption for qualifying seniors and disabled individuals. The combination of no income tax and moderate property taxes makes South Dakota very tax-competitive.
South Dakota Homeowners Insurance
South Dakota faces tornado risk, particularly in the eastern part of the state. Severe thunderstorms and hail are common. Annual insurance averages $1,200–$1,600. Budget $100–$135/month.
South Dakota Housing Market Overview
Sioux Falls has been one of the fastest-growing cities in the Midwest, driven by financial services (Citibank, Wells Fargo), healthcare, and a business-friendly environment. Rapid City (near Mount Rushmore and the Black Hills) has a stable tourism and military-influenced market. Much of rural South Dakota qualifies for USDA loans.
Frequently Asked Questions
What is the average mortgage payment in South Dakota?
Based on South Dakota's median home price of $290,000, a 20% down payment, and a 30-year fixed rate of 7.25%, the estimated total monthly payment (PITI) is approximately $1,975/month.
What is the conforming loan limit in South Dakota?
The conforming loan limit in South Dakota is $766,550. Loans above this amount are jumbo loans requiring stronger credit and larger down payments.
Can I get a USDA loan in South Dakota?
Yes — South Dakota has USDA-eligible rural areas where qualifying buyers can purchase a home with zero down payment. Use the USDA eligibility map to check specific addresses.
Are VA loans available in South Dakota?
Yes — eligible veterans, active-duty service members, and surviving spouses can use VA loans in South Dakota with no down payment and no PMI. The VA loan limit in South Dakota is $766,550.
South Dakota Loan Limits
South Dakota Homebuyer Programs
Below-market interest rate mortgages with optional down payment assistance for qualifying first-time homebuyers in South Dakota.
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