Vermillion, SD home prices
Typical home $282,966 · +2.8% in a year · income needed $84,100
The Vermillion, SD metro area ranks 359 of 894 U.S. metros for home values (U.S. typical home: $366,157). Prices changed +2.8% in a year and +36.1% over five years. With 20% down at 7.11%, the typical home costs about $1,962 a month including 1.26% property tax (Clay County rate).
Mortgage on the typical Vermillion home
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $56,593 | $226,373 | $1,523 | $0 | $440 | $1,962 | $84,100 |
| 10% down | $28,297 | $254,669 | $1,713 | $106 | $440 | $2,259 | $96,800 |
| 5% down | $14,148 | $268,817 | $1,808 | $112 | $440 | $2,360 | $101,100 |
| 3.5% down (FHA) | $9,904 | $277,840 | $1,869 | $125 | $440 | $2,434 | $104,300 |
Assumes a 30-year fixed loan at 7.11%, property tax of 1.26% 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.
Counties in the Vermillion area
| County | Typical home | 1-yr change | Tax rate |
|---|---|---|---|
| Clay County, SD | $283,158 | +2.8% | 1.26% |
What can you afford in South Dakota on your salary? · South Dakota home prices · Salaries in South Dakota
Frequently asked questions
How much is a house in Vermillion?
The typical home in the Vermillion, SD metro area is worth $282,966 (Zillow, September 2026).
What salary do you need to buy a house in Vermillion?
About $84,100 a year for the typical home with 20% down at 7.11%.