Mortgage on a $400K house in South Dakota
$2,698 a month with 20% down — $2,153 principal and interest plus $345 property tax and $200 insurance.
South Dakota's typical property tax is 1.04% of the home's value a year (U.S. average 0.9%), which adds $345 a month on a $400K home. The typical home in South Dakota is worth $317,874, so $400K is 26% above the typical price.
$400K home in South Dakota: payment by down payment
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $80,000 | $320,000 | $2,153 | $0 | $545 | $2,698 | $115,600 |
| 10% down | $40,000 | $360,000 | $2,422 | $150 | $545 | $3,117 | $133,600 |
| 5% down | $20,000 | $380,000 | $2,556 | $158 | $545 | $3,260 | $139,700 |
| 3.5% down (FHA) | $14,000 | $392,755 | $2,642 | $177 | $545 | $3,364 | $144,200 |
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.
Where in South Dakota does $400K buy a typical home?
In these counties the typical home value is within 15% of $400K:
| County | Typical home | Tax rate | Total / month |
|---|---|---|---|
| Meade County | $393,336 | 1.01% | $2,688 |
| Lincoln County | $381,169 | 1.15% | $2,735 |
| Pennington County | $363,102 | 1.08% | $2,713 |
| Butte County | $360,624 | 0.93% | $2,661 |
| Lawrence County | $442,665 | 0.79% | $2,617 |
| Union County | $355,956 | 1.1% | $2,720 |
| Hamlin County | $340,142 | 1.11% | $2,722 |
48 of 50 South Dakota counties tracked by Zillow have a typical home value at or below $400K. See all South Dakota home prices.
Other prices in South Dakota
Frequently asked questions
What is the mortgage on a $400K house in South Dakota?
About $2,698 a month with 20% down at 7.11%: $2,153 principal and interest, $345 property tax and $200 insurance.
How much do I need to make to buy a $400K house in South Dakota?
About $115,600 a year, so that the payment stays under 28% of your gross income.
What is the property tax on a $400K house in South Dakota?
At South Dakota's typical effective rate of 1.04%, about $4,143 a year. Rates vary by county and city — see the county pages.