South Dakota housing costs at a glance
| South Dakota | |
|---|---|
| Median home value (Zillow) | $325,000 |
| Average effective property tax | 1.0% |
| Typical rate for a new buyer (calculator default) | 1.15% |
| Average homeowners insurance ($300k dwelling) | $2,736 a year |
| 2026 conforming loan limit (one unit) | $832,750 |
Example: median-priced home
South Dakota home for $325,000, 20% down, 6.5% 30-year fixed: principal and interest $1,643 + property tax $311 + insurance $228 = about $2,183 a month. Enter your own rate quote and the actual tax rate of the property for a precise figure.
South Dakota property tax
With no income tax, South Dakota relies on sales and property taxes. The average effective rate is about 1% of value. Owner-occupied homes are taxed at a lower school levy than other property, but only if you file for the owner-occupied classification with the county director of equalization; do it after you buy.
Other South Dakota costs
- Transfer fee: $0.50 per $500 of the price (0.1%), usually paid by the seller.
- Insurance: about $2,740 a year on average because of hail and severe storms.
- No income tax; see the South Dakota paycheck calculator.
Other states
See also the South Dakota paycheck calculator and mortgage costs in other states.
Frequently asked questions
What is the property tax rate in South Dakota?
About 1% of home value on average for owner-occupied homes.
What is the monthly payment on a median-priced South Dakota home?
On a $325,000 home with 20% down at 6.5%, principal and interest are about $1,643; with property tax at 1.15% and average insurance the total is about $2,183 a month.
What is the owner-occupied classification in South Dakota?
A lower school tax levy for your primary residence; you must apply with the county director of equalization.
Does South Dakota have a transfer tax?
A small transfer fee of $0.50 per $500 of the price.
For information only; not a loan offer. Property tax, insurance and closing costs depend on the specific property and lender.
Sources
- South Dakota Department of Revenue – property tax
- FHFA – 2026 conforming loan limits
- U.S. Census Bureau ACS 2024 – real estate taxes (via NAHB / Construction Coverage)
- Zillow Home Value Index
- Insurify – home insurance by state
Rules checked: October 2026