Can I Afford a $100K Home in South Dakota?
Complete mortgage breakdown for a $100,000 home in South Dakota, including monthly payments, property taxes, insurance, and the salary you need to qualify.
Estimated Monthly Payment (20% down)
$794/mo
P&I: $526 + Tax: $102 + Insurance: $167
Monthly Payment by Down Payment
| Down Payment | Amount | Monthly | Income Needed |
|---|---|---|---|
| 3% | $3,000 | $946 | $40,542 |
| 5% | $5,000 | $932 | $39,943 |
| 10% | $10,000 | $897 | $38,446 |
| 20% | $20,000 | $794 | $34,023 |
Monthly Cost Breakdown (South Dakota)
Principal & Interest
$526/mo
Property Tax (1.22%)
$102/mo
Homeowners Insurance
$167/mo
Total Interest (30-yr)
$109,195
Affordability Rules of Thumb
28% Rule (Housing)
$34,023/yr
Minimum gross income
36% Rule (All Debt)
$26,463/yr
If no other debt
3Ã Income Rule
$33,333/yr
Conservative target
Buying a $100K Home in South Dakota
A $100,000 home in South Dakota is at or below the national median home price. With a 20% down payment of $20,000, your estimated monthly payment of $794 is achievable on a salary of $34,023 or more. South Dakota's property tax rate of 1.22% is near the national average.
These estimates assume a 6.875% 30-year fixed mortgage rate. Use our mortgage calculator for custom scenarios, or check what salary you can afford in South Dakota.