Mortgage Rates in Aberdeen, South Dakota — March 2026
Updated March 2026 | Based on Aberdeen market data and regional lending conditions
Aberdeen is a growing city in South Dakota with a population of 28,495. The current 30-year fixed mortgage rate in Aberdeen is 6.73%, which is 0.08% above the national average. With a median home price of $215,000 and a 20% down payment of $43,000, homebuyers can expect a monthly principal and interest payment of approximately $1,113.
Current Mortgage Rates in Aberdeen, SD
Below are the current average mortgage rates available in the Aberdeen area as of March 2026. Rates vary by lender, credit score, and loan-to-value ratio. Use our free calculator above to see your personalized estimate.
| Loan Type | Rate | National Avg | Difference |
|---|---|---|---|
| 30-Year Fixed | 6.73% | 6.65% | +0.08% |
| 15-Year Fixed | 5.97% | 5.89% | +0.08% |
| 5/1 ARM | 6.23% | 6.15% | +0.08% |
| FHA | 6.33% | 6.25% | +0.08% |
| VA | 6.13% | 6.05% | +0.08% |
| Jumbo | 6.93% | 6.85% | +0.08% |
Aberdeen Housing Market Overview
The Aberdeen housing market offers relatively affordable housing compared to many major cities. The median household income in Aberdeen is $48,250, and the cost of living index is 85.5 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $57,086 to comfortably afford the median-priced home in Aberdeen, which exceeds the current median household income.
Monthly Payment Breakdown for Aberdeen
Based on the median home price of $215,000 with 20% down ($43,000), here is what you can expect to pay monthly in Aberdeen:
15-Year vs. 30-Year Mortgage in Aberdeen
Choosing a 15-year mortgage in Aberdeen at 5.97% instead of a 30-year at 6.73% would save you $139,860 in total interest over the life of the loan. However, your monthly payment would be $1,449 instead of $1,113 — an increase of $336 per month.
Calculate Your Aberdeen Mortgage Payment
Use our free calculator to get a personalized estimate based on your loan amount, interest rate, and term.
Open Free CalculatorFrequently Asked Questions About Mortgages in Aberdeen
What are the current mortgage rates in Aberdeen, SD?
As of March 2026, the average 30-year fixed mortgage rate in Aberdeen, South Dakota is 6.73%, while the 15-year fixed rate is 5.97%. FHA loans average 6.33% and VA loans 6.13%. These rates are 0.08% above the national average of 6.65%.
How much is a monthly mortgage payment in Aberdeen?
Based on the median home price of $215,000 with 20% down, the estimated monthly mortgage payment in Aberdeen is $1,113 for principal and interest. Including property taxes of $219/month, the total monthly housing cost is approximately $1,332.
What income do I need to buy a home in Aberdeen?
Using the 28% rule, you would need an annual income of approximately $57,086 to afford the median-priced home in Aberdeen at $215,000. The median household income in Aberdeen is $48,250. This means most households would need to either earn above the median or consider homes below $215,000.
Is Aberdeen a good place to buy a home in 2026?
Aberdeen offers a below-average cost of living with a cost of living index of 85.5 (national average = 100). The property tax rate in South Dakota is 1.22%, which is near the national average. Aberdeen has a population of 28,495 and offers a very affordable lifestyle.
Mortgage Rates in Other South Dakota Cities
Related Tools & Guides
Last updated: March 2026. Rates are approximate averages based on regional lending data for the Aberdeen, South Dakota area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.