Mortgage Rates in Box Elder, South Dakota — March 2026
Updated March 2026 | Based on Box Elder market data and regional lending conditions
Box Elder is a growing city in South Dakota with a population of 11,766. The current 30-year fixed mortgage rate in Box Elder 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 Box Elder, SD
Below are the current average mortgage rates available in the Box Elder 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 | 5.98% | 5.89% | +0.09% |
| 5/1 ARM | 6.24% | 6.15% | +0.09% |
| FHA | 6.49% | 6.25% | +0.24% |
| VA | 6.24% | 6.05% | +0.19% |
| Jumbo | 6.98% | 6.85% | +0.13% |
Box Elder Housing Market Overview
The Box Elder housing market offers relatively affordable housing compared to many major cities. The median household income in Box Elder is $52,700, and the cost of living index is 92.8 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $57,771 to comfortably afford the median-priced home in Box Elder, which exceeds the current median household income.
Monthly Payment Breakdown for Box Elder
Based on the median home price of $215,000 with 20% down ($43,000), here is what you can expect to pay monthly in Box Elder:
15-Year vs. 30-Year Mortgage in Box Elder
Choosing a 15-year mortgage in Box Elder at 5.98% instead of a 30-year at 6.73% would save you $139,680 in total interest over the life of the loan. However, your monthly payment would be $1,450 instead of $1,113 — an increase of $337 per month.
Calculate Your Box Elder 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 Box Elder
What are the current mortgage rates in Box Elder, SD?
As of March 2026, the average 30-year fixed mortgage rate in Box Elder, South Dakota is 6.73%, while the 15-year fixed rate is 5.98%. FHA loans average 6.49% and VA loans 6.24%. These rates are 0.08% above the national average of 6.65%.
How much is a monthly mortgage payment in Box Elder?
Based on the median home price of $215,000 with 20% down, the estimated monthly mortgage payment in Box Elder is $1,113 for principal and interest. Including property taxes of $235/month, the total monthly housing cost is approximately $1,348.
What income do I need to buy a home in Box Elder?
Using the 28% rule, you would need an annual income of approximately $57,771 to afford the median-priced home in Box Elder at $215,000. The median household income in Box Elder is $52,700. This means most households would need to either earn above the median or consider homes below $215,000.
Is Box Elder a good place to buy a home in 2026?
Box Elder offers a below-average cost of living with a cost of living index of 92.8 (national average = 100). The property tax rate in South Dakota is 1.31%, which is near the national average. Box Elder has a population of 11,766 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 Box Elder, South Dakota area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.