How much house can I afford on $40,000 in South Dakota?
About $138,000 with 20% down ($111,000 with an FHA loan), using South Dakota's 1.04% property tax rate.
That is $179,496 less than the typical South Dakota home ($317,874), so on $40,000 you'd look at cheaper areas or a smaller home. The payment of $933 covers $745 principal and interest, $119 property tax and $69 insurance.
Counties in South Dakota you can afford on $40,000
2 of 50 counties have a typical home value at or below $138,000:
| County | Typical home | 1-yr change | Tax rate |
|---|---|---|---|
| Walworth County | $132,385 | -0.0% | 1.31% |
| Jackson County | $128,953 | -2.7% | 0.65% |
Assumes a 30-year fixed loan at 7.11%, property tax of 1.04% of the home value a year, homeowners insurance of 0.6% a year, PMI of 0.5% of the loan a year when the down payment is under 20%, and FHA mortgage insurance of 0.55% a year plus a 1.75% upfront premium added to the loan. Your rate, taxes and insurance will differ.
Other salaries in South Dakota
Frequently asked questions
How much house can I afford on $40,000 in South Dakota?
About $138,000 with 20% down at 7.11%, keeping the payment (with South Dakota's 1.04% property tax and insurance) under $933 a month.
Is $40,000 enough to buy a house in South Dakota?
Not the typical home: the typical South Dakota home is worth $317,874 (Zillow, September 2026) and $40,000 supports about $138,000. 2 of 50 counties are within budget.