South Dakota Mortgage Calculator
Use this free South Dakota mortgage calculator to estimate your monthly mortgage payments and annual amortization.
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Getting a Mortgage in South Dakota
While prices have increased in recent years, similar to overall U.S. market trends, housing is still relatively affordable in South Dakota.
The typical monthly mortgage payment for a median-priced home in Minnehaha County, which is home to Sioux Falls, was $1,825 in Q1 2025, based on a $311,375 home value, according to the National Association of Realtors. By comparison, the national median payment was $2,120 on a median-priced single-family home valued at $402,300.
South Dakota's first-time home buyer programs
There are several national first-time home buyer programs that may be able to help you get into a home in South Dakota.
Average property tax by county
| County | Avg. property tax rate | Median home value |
|---|---|---|
| Aurora County | 1.03% | $120,800 |
| Beadle County | 1.07% | $152,100 |
| Bennett County | 0.78% | $128,100 |
| Bon Homme County | 1.05% | $112,700 |
| Brookings County | 1.15% | $227,800 |
| Brown County | 1.14% | $200,400 |
| Brule County | 0.74% | $187,900 |
| Buffalo County | 0.36% | $103,800 |
| Butte County | 0.86% | $189,000 |
| Campbell County | 1.24% | $80,300 |
| Charles Mix County | 0.93% | $163,200 |
| Clark County | 0.86% | $135,500 |
| Clay County | 1.12% | $209,300 |
| Codington County | 1.02% | $206,600 |
| Corson County | 0.75% | $76,000 |
| Custer County | 0.68% | $294,700 |
| Davison County | 1.21% | $178,100 |
| Day County | 0.86% | $134,800 |
| Deuel County | 0.85% | $178,100 |
| Dewey County | 0.76% | $74,800 |
| Douglas County | 0.86% | $120,900 |
| Edmunds County | 0.84% | $142,300 |
| Fall River County | 1.03% | $158,500 |
| Faulk County | 0.73% | $115,300 |
| Grant County | 0.98% | $168,500 |
| Gregory County | 1.04% | $109,100 |
| Haakon County | 0.66% | $139,200 |
| Hamlin County | 1.05% | $181,800 |
| Hand County | 0.84% | $150,000 |
| Hanson County | 0.87% | $171,300 |
| Harding County | 0.96% | $128,300 |
| Hughes County | 1.08% | $216,500 |
| Hutchinson County | 1.03% | $143,800 |
| Hyde County | 1.3% | $97,300 |
| Jackson County | 0.69% | $108,400 |
| Jerauld County | 0.86% | $117,600 |
| Jones County | 0.77% | $99,000 |
| Kingsbury County | 0.86% | $149,300 |
| Lake County | 0.99% | $196,600 |
| Lawrence County | 0.92% | $267,900 |
| Lincoln County | 1.12% | $343,000 |
| Lyman County | 0.82% | $132,100 |
| Marshall County | 0.73% | $141,100 |
| McCook County | 0.94% | $186,100 |
| McPherson County | 1.03% | $77,900 |
| Meade County | 1.01% | $252,300 |
| Mellette County | 0.79% | $60,700 |
| Miner County | 0.87% | $93,900 |
| Minnehaha County | 1.13% | $268,200 |
| Moody County | 1.05% | $194,000 |
| Pennington County | 1.09% | $298,200 |
| Perkins County | 1.22% | $108,900 |
| Potter County | 1.16% | $129,800 |
| Roberts County | 0.73% | $127,800 |
| Sanborn County | 1.15% | $128,800 |
| Spink County | 1.0% | $108,200 |
| Stanley County | 1.14% | $170,400 |
| Sully County | 0.91% | $190,800 |
| Todd County | 0.68% | $40,500 |
| Tripp County | 0.72% | $128,100 |
| Turner County | 1.05% | $175,300 |
| Union County | 1.2% | $254,900 |
| Walworth County | 1.19% | $115,900 |
| Yankton County | 1.06% | $190,400 |
| Ziebach County | 0.78% | $93,000 |
How to use the mortgage calculator
To use our mortgage calculator, simply add your details to the following fields:
Home price
Down payment
Interest rate
Loan term (years)
After you enter these four pieces of information, the calculator displays the monthly payment inside the "Loan Estimate" window. It also displays:
Total principal
Total interest payments
Total loan payments
Payoff date
Calculating costs in addition to principal and interest
The calculator lets you fine-tune your payment by entering your annual property tax premium, annual home insurance premium, monthly homeowner association (HOA) fee, and monthly private mortgage insurance (PMI) premium.
To enter this information, click “Show Advanced Info” underneath the main loan details. Note that you'll enter the annual cost for property taxes and home insurance and the monthly cost for HOA fees and PMI premiums. The PMI field will only display if your down payment is less than 20%.
In the “Loan Estimate” window, select "Amortization Schedule" to uncover a table that shows how much you'll pay in principal and interest each month, as well as the remaining amount you owe ("Principal balance") after making the payment.
» MORE: What is mortgage amortization?
Explanation of terminology
Total monthly payment: An estimate of all your monthly housing costs, covering your loan principal, interest, taxes, insurance, and PMI.
Total principal: This is the amount you borrow. Each mortgage payment reduces the principal you owe.
Total interest payments: How much interest you would pay over the life of the loan.
Total loan payments: The entire amount of principal and interest paid, excluding taxes, insurance, and PMI.
Down payment: The portion of the home’s price you pay in cash upfront.
Interest rate: How much the lender charges you to lend you the money. Interest rates are expressed as an annual percentage. A lower interest rate gives you a smaller monthly payment.
Loan term (years): The number of years you have to repay the mortgage. A longer term gives you a lower monthly payment, but you’ll pay more interest.
Start date: The month that your first mortgage payment is due.
Payoff date: The month your home will be fully paid off based on the loan term.
Property taxes: The annual tax assessed by a government authority on your home and land. You pay about one-twelfth of your annual property tax bill with each mortgage payment, and the servicer saves them in an escrow account. When the taxes are due, the loan servicer pays them.
Homeowners insurance: Your policy covers damage and financial losses from fire, storms, theft, a tree falling on your house and other bad things. As with property taxes, you pay roughly one-twelfth of your annual homeowners insurance premium each month, and the servicer pays the bill when it's due.
Monthly HOA fees: The amount you may pay each month if you belong to a homeowners association. Typically, these dues are billed directly, not added to the monthly mortgage payment. Because HOA dues can be easy to forget when considering the cost of homeownership, NerdWallet's mortgage calculator allows you to enter them here.
Private mortgage insurance: If you get a conventional mortgage and put down less than 20%, you’ll have to pay a monthly PMI premium. It covers the lender if you default on the loan and can be canceled once you reach 20% equity. FHA loans require a similar fee called a mortgage insurance premium.
If you're looking to see how much you could save by refinancing your mortgage, try NerdWallet's refinance calculator.
» MORE FOR CANADIAN READERS: Canada mortgage payment calculator