»
South Dakota

Current South Dakota Mortgage Rates

Compare mortgage rates and closing costs for leading lenders in South Dakota. Review free, personalized mortgage rates for South Dakota based on your specifc loan amount, program and other factors. Easily compare APRs, fees and monthly payments to find the lender offering the best mortgage terms.

We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in South Dakota. Plus, shopping lenders is free and there is no obligation.

%
Mortgage Rates for South Dakota as of March 30, 2020
  • Lender
  • APR
  • Loan Type
  • Rate
  • Payment
  • Fees
  • Contact
Data provided by Informa Research Services. Payments do not include amounts for taxes and insurance premiums. Click for more information on rates and product details.
PERSONALIZED MORTGAGE QUOTE

$
LEADING LENDERS ● LOW RATES ● FREE ● NO SSN

How Do Today's South Dakota Mortgage Rates Compare?

March 30, 2020

The current average rate for a 30 year fixed rate mortgage in South Dakota is A.AAA%, the rate for a 15 year fixed rate mortgage is B.BBB% and the rate for a 5/1 adjustable rate mortgage (ARM) is C.CCC%

Mortgage Program
Today's
South Dakota Rates
National
Average
Comparison
30 Year Fixed Rate
A.AAA%
3.650%
15 Year Fixed Rate
B.BBB%
3.090%
5/1 Adjustable Rate Mortgage
C.CCC%
3.390%

How Affordable is Housing in South Dakota?

Below we offer valuable insights on the housing market and real estate prices in South Dakota. Understand how much you need to make to buy a house in South Dakota, including the mortgage you need. Review the monthy loan payment so you can determine if home ownership in South Dakota is affordable for you. We provide this helpful information to help you decide if living in South Dakota is right for you.

The median home value for South Dakota is $173,270

Based on current mortgage rates and a 10% down payment, the income required to buy the median priced home in South Dakota is $31,184

With this income, you could qualify for a $155,943 mortgage, assuming your monthly debt expense is reasonable

Based on this loan amount, the monthly mortgage payment required to buy the median priced home in South Dakota is $722

The median household income for South Dakota is $57,385

Based on this income, you can afford a home valued at approximately $318,853

The home price you can afford to buy based on household income in South Dakota is 184% of the median home value which means housing prices are super affordable. South Dakota ranks 10 out of 50 states for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the real estate market in South Dakota is super affordable

orange-simple-house
ruler

Additional Mortgage Resources for South Dakota Residents

Mortgage Rates for South Dakota Cities

Aberdeen Mortgage Rates

Brookings Mortgage Rates

Harrisburg Mortgage Rates

Rapid City Mortgage Rates

Sioux Falls Mortgage Rates