What is the average mortgage rate in South Dakota in 2026?
Around 7.46% as of October 19, 2026 on a 30-year fixed in this national benchmark model — in line with the US average shown above.
Best Mortgage Rates South Dakota 2026
South Dakota's average home price is about $278,000 in 2026. The state has no income tax on wages and no statewide real estate transfer tax.
30-year fixed
7.46%
National avg
15-year fixed
6.82%
National avg
5/1 ARM
6.82%
National avg
| Product | Rate (APR) |
|---|---|
| 30-year fixed (national avg) | 7.46% |
| 15-year fixed (national avg) | 6.82% |
| 5/1 ARM (national avg) | 6.82% |
Rates verified Oct 21, 2026
Rates shown are national benchmark averages for this page, not live quotes from lenders. Confirm pricing with banks and brokers in South Dakota. Not financial advice.
South Dakota at a glance
- Average home price: $278,000
- State income tax: None (no state income tax on wages)
- Transfer / conveyance tax: None (no statewide transfer tax)
- Typical monthly payment: $1,549/mo on $278,000 with 20% down, 30-year term, at 7.46% — excludes taxes, insurance, and HOA.
Frequently Asked Questions
Does South Dakota have a real estate transfer tax?
South Dakota does not impose a statewide transfer tax on typical home sales; recording fees still apply.
What is the average home price in South Dakota in 2026?
$278,000 — used here as an illustrative average for payment math.
How much do I need to earn to afford a home in South Dakota?
To afford $278,000 with 20% down at 7.46% on a 30-year loan, many lenders use debt-to-income rules that imply approximately $65,000–$70,000 annual income before taxes — your lender may differ.
US mortgage calculator · Educational reference only. Not financial or lending advice.