FiscalCalc

Home Affordability Calculator in South Dakota

In South Dakota, the median home costs $275K and the median household income is $62K/year. Find out how much house you can afford based on your income, debts, and down payment.

$275K
Median Home Price
$62K/yr
Median Income
10%
Avg Down Payment
95 / 100
Cost of Living
$

Before taxes — use your total household income

$

Car loans, student loans, credit cards, etc. — not utilities

$
%

How Much House Can You Afford in South Dakota?

Lenders typically use the 28/36 rule: your monthly housing payment should not exceed 28% of gross monthly income, and total debt payments should stay under 36%. With South Dakota's median income of $62,000/year ($5,167/month), that means a maximum housing payment of roughly $1,447/month.

At 6.9% over 30 years with a 10% down payment ($27,500), that monthly budget supports a purchase price of approximately $261,250–$275,000. The median home price in South Dakota is $275,000, which means housing is near the national average.

Frequently Asked Questions — Home Affordability in South Dakota

How much house can I afford in South Dakota?+
With the median household income of $62,000 in South Dakota, the 28% housing rule allows a maximum monthly payment of $1,447. At 6.9% over 30 years with 10% down, that supports a purchase price of roughly $247K. The median home in South Dakota is $275K.
What is the median home price in South Dakota?+
The median home price in South Dakota is $275,000 (2026). Prices vary significantly by metro — urban areas typically run 20–50% above the state median, while rural areas may be well below. The cost of living index for South Dakota is 95 (100 = national average).
What income do I need to afford the median home in South Dakota?+
To afford the $275K median home in South Dakota with a 10% down payment ($27,500) and 6.9% rate (30 years), you need a gross annual income of at least $72,000 — following the 28% rule. The state median household income is $62,000.
What debt-to-income ratio do lenders require in South Dakota?+
Lenders in South Dakota (and nationwide) generally require a total DTI below 43% for conventional loans, with 36% preferred. FHA loans allow up to 50% DTI in some cases. This means your total monthly debt payments — mortgage, car loan, student loans, and credit cards — should not exceed 43% of your gross monthly income ($2,222 on the South Dakota median income).
How does South Dakota's cost of living affect home affordability?+
South Dakota has a cost of living index of 95 (100 = national average). South Dakota's cost of living is near the national average, so total housing affordability is similar to most other states.

Data Sources & Methodology

Median home prices from the National Association of Realtors (NAR). Median household income from U.S. Census Bureau ACS. Mortgage rates from Freddie Mac PMMS. Affordability calculations use the 28/36 DTI rule per Fannie Mae guidelines. Last updated 2026.

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