Lake County, South Dakota home prices
Typical home $312,689 · +2.4% in a year · property tax 1.03%
The typical home in Lake County is worth $312,689, about the same as the South Dakota typical home ($317,874). Values changed +2.4% in the past year and +39.5% over five years. Homeowners here pay a median 1.03% of their home's value in property tax each year ($3,215 on the typical home), versus 1.04% statewide.
Mortgage on the typical Lake County home
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $62,538 | $250,151 | $1,683 | $0 | $424 | $2,107 | $90,300 |
| 10% down | $31,269 | $281,420 | $1,893 | $117 | $424 | $2,435 | $104,300 |
| 5% down | $15,634 | $297,054 | $1,998 | $124 | $424 | $2,546 | $109,100 |
| 3.5% down (FHA) | $10,944 | $307,025 | $2,065 | $138 | $424 | $2,628 | $112,600 |
Assumes a 30-year fixed loan at 7.11%, property tax of 1.03% 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.
What it takes: see what you can afford by salary in South Dakota.
South Dakota counties with similar prices
| County | Typical home | 1-yr change | Tax rate |
|---|---|---|---|
| Moody County | $315,215 | +8.0% | 1.1% |
| Stanley County | $302,274 | +0.8% | 1.32% |
| Minnehaha County | $325,224 | +1.3% | 1.14% |
| Deuel County | $298,508 | +6.2% | 0.82% |
| Brookings County | $327,004 | +6.1% | 1.13% |
| Hughes County | $293,735 | +3.0% | 1.1% |
| Turner County | $292,101 | -3.5% | 0.98% |
| McCook County | $290,879 | +5.1% | 1.06% |
| Codington County | $335,543 | +3.1% | 0.97% |
| Charles Mix County | $288,274 | +8.6% | 1.1% |
Frequently asked questions
What is the average home price in Lake County, SD?
The typical home value in Lake County is $312,689 (Zillow Home Value Index, September 2026).
How much do you need to earn to buy a house in Lake County?
About $90,300 a year for the typical home with 20% down at a 7.11% 30-year rate.
What is the property tax rate in Lake County?
The median effective rate is 1.03% of home value a year (Census ACS 2024 5-year estimates).