Mortgage Rates in Pierre, South Dakota — March 2026
Updated March 2026 | Based on Pierre market data and regional lending conditions
Pierre is a growing city in South Dakota with a population of 14,091. The current 30-year fixed mortgage rate in Pierre is 6.73%, which is 0.08% above the national average. With a median home price of $235,000 and a 20% down payment of $47,000, homebuyers can expect a monthly principal and interest payment of approximately $1,217.
Current Mortgage Rates in Pierre, SD
Below are the current average mortgage rates available in the Pierre 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% |
Pierre Housing Market Overview
The Pierre housing market offers relatively affordable housing compared to many major cities. The median household income in Pierre is $55,250, and the cost of living index is 87.5 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $62,400 to comfortably afford the median-priced home in Pierre, which exceeds the current median household income.
Monthly Payment Breakdown for Pierre
Based on the median home price of $235,000 with 20% down ($47,000), here is what you can expect to pay monthly in Pierre:
15-Year vs. 30-Year Mortgage in Pierre
Choosing a 15-year mortgage in Pierre at 5.97% instead of a 30-year at 6.73% would save you $153,180 in total interest over the life of the loan. However, your monthly payment would be $1,583 instead of $1,217 — an increase of $366 per month.
Calculate Your Pierre 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 Pierre
What are the current mortgage rates in Pierre, SD?
As of March 2026, the average 30-year fixed mortgage rate in Pierre, 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 Pierre?
Based on the median home price of $235,000 with 20% down, the estimated monthly mortgage payment in Pierre is $1,217 for principal and interest. Including property taxes of $239/month, the total monthly housing cost is approximately $1,456.
What income do I need to buy a home in Pierre?
Using the 28% rule, you would need an annual income of approximately $62,400 to afford the median-priced home in Pierre at $235,000. The median household income in Pierre is $55,250. This means most households would need to either earn above the median or consider homes below $235,000.
Is Pierre a good place to buy a home in 2026?
Pierre offers a below-average cost of living with a cost of living index of 87.5 (national average = 100). The property tax rate in South Dakota is 1.22%, which is near the national average. Pierre has a population of 14,091 and offers a very affordable lifestyle.
Mortgage Rates in Other South Dakota Cities
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Last updated: March 2026. Rates are approximate averages based on regional lending data for the Pierre, South Dakota area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.