Mortgage Rates in South Dakota — June 2026
Compare mortgage rate benchmarks across 50 cities in South Dakota. Amortio's estimated state average for a 30-year fixed loan is 6.76%, which is 0.28% above the Freddie Mac national benchmark of 6.48% from June 4, 2026. These figures are informational estimates, not lender quotes or APR offers.
What is the current South Dakota mortgage-rate benchmark?
Amortio's South Dakota state table shows an estimated 6.76% 30-year benchmark across 50 cities, versus Freddie Mac's 6.48% national 30-year PMMS benchmark from June 4, 2026. Use it to compare city payments, then request same-day lender Loan Estimates for APR, points, fees, lock period, and cash-to-close.
How to Read South Dakota Mortgage Rates
South Dakota is not one uniform mortgage market. The rate table below covers 50 cities, but the real payment difference comes from home price, income, property taxes, loan size, and whether a borrower fits conventional, FHA, VA, or jumbo pricing. Use this page to compare cities first, then use lender quotes for final APR and fee decisions.
- At the state-average payment of $1,167 per month and median income of $54,612, South Dakota looks close to the traditional affordability line for many households.
- The observed city-level 30-year benchmark spread is 0.27 percentage points, from 6.62% to 6.89%. Even small rate differences matter more in expensive cities because they apply to larger loan balances.
- Property taxes are material but not the only factor; rate, loan size, and insurance assumptions can move the final payment just as much.
- For buyers comparing down payment choices, pair this state page with the PMI calculator, affordability calculator, and closing cost estimator before assuming the lowest advertised rate creates the lowest total cost.
Payment-Efficient South Dakota Cities
| City | P&I / Income | Monthly P&I | Median Income | 30-Year Rate |
|---|---|---|---|---|
| Clark | 18.2% | $939 | $62,000 | 6.8% |
| Custer | 20.1% | $985 | $58,800 | 6.74% |
| Eagle Butte | 20.6% | $975 | $56,700 | 6.69% |
| Milbank | 20.7% | $1,064 | $61,700 | 6.8% |
| Madison | 21.2% | $1,086 | $61,600 | 6.86% |
Highest-Priced South Dakota Markets to Stress-Test
South Dakota Mortgage Quote Comparison Worksheet
Use this checklist before choosing between lender quotes, state assistance, builder credits, or a temporary buydown. It is built to catch the costs that do not show up in a simple rate table.
| Line Item | What to Compare |
|---|---|
| Rate vs APR | APR exposes points, lender fees, and credits that can hide inside a lower advertised rate. |
| Cash to close | Compare down payment, closing costs, prepaid taxes, insurance escrow, and any assistance or seller credit. |
| Payment after escrow | South Dakota buyers should compare principal, interest, property tax, insurance, HOA or condo dues, and mortgage insurance together. |
| Assistance terms | Down payment assistance can be a grant, forgivable second, deferred second, or repayable loan; the repayment rule changes the real cost. |
| Rate lock and buydown | Temporary buydowns and lender credits can improve the first-year payment while leaving a higher long-run payment. |
A strong South Dakota mortgage comparison should include at least two lender Loan Estimates plus one program or assistance check where available. Pair this worksheet with the affordability calculator, PMI calculator, and closing cost estimator.
South Dakota Housing Highlights
All 50 Cities in South Dakota
| City | 30-Yr Rate | Home Price | Monthly P&I | Population |
|---|---|---|---|---|
| Sioux Falls | 6.73% | $285,000 | $1,476 | 192,517 |
| Rapid City | 6.73% | $295,000 | $1,528 | 77,503 |
| Aberdeen | 6.73% | $215,000 | $1,113 | 28,495 |
| Brookings | 6.73% | $265,000 | $1,372 | 24,194 |
| McLaughlin | 6.72% | $310,000 | $1,604 | 22,682 |
| Watertown | 6.73% | $235,000 | $1,217 | 22,655 |
| Hartford | 6.76% | $235,000 | $1,221 | 21,412 |
| Clark | 6.8% | $180,000 | $939 | 20,468 |
| Lennox | 6.8% | $195,000 | $1,017 | 20,076 |
| Summerset | 6.77% | $235,000 | $1,222 | 19,929 |
| Dupree | 6.65% | $265,000 | $1,361 | 17,979 |
| Kimball | 6.75% | $290,000 | $1,505 | 17,395 |
| Scotland | 6.79% | $310,000 | $1,615 | 17,331 |
| Faith | 6.76% | $270,000 | $1,402 | 16,867 |
| Mitchell | 6.73% | $195,000 | $1,010 | 15,660 |
| Yankton | 6.73% | $215,000 | $1,113 | 15,411 |
| Pierre | 6.73% | $235,000 | $1,217 | 14,091 |
| Brandon (SD) | 6.89% | $250,000 | $1,316 | 14,036 |
| Huron | 6.64% | $155,000 | $795 | 13,099 |
| Vermillion | 6.88% | $228,000 | $1,199 | 13,034 |
| Spearfish | 6.79% | $238,000 | $1,240 | 12,193 |
| Box Elder | 6.73% | $215,000 | $1,113 | 11,766 |
| Harrisburg | 6.84% | $205,000 | $1,074 | 7,540 |
| Madison | 6.86% | $207,000 | $1,086 | 7,279 |
| Sturgis | 6.73% | $214,000 | $1,108 | 6,932 |
| Tea | 6.89% | $206,000 | $1,084 | 6,574 |
| Belle Fourche | 6.83% | $224,000 | $1,172 | 5,594 |
| Dell Rapids | 6.69% | $210,000 | $1,083 | 3,633 |
| Canton | 6.76% | $219,000 | $1,138 | 3,567 |
| Hot Springs | 6.75% | $220,000 | $1,142 | 3,477 |
| Mobridge | 6.66% | $221,000 | $1,136 | 3,465 |
| Milbank | 6.8% | $204,000 | $1,064 | 3,353 |
| Pine Ridge | 6.76% | $199,000 | $1,034 | 3,308 |
| Winner | 6.88% | $227,000 | $1,194 | 2,897 |
| Lead | 6.82% | $203,000 | $1,061 | 2,856 |
| North Sioux City | 6.84% | $198,000 | $1,037 | 2,696 |
| Sisseton | 6.77% | $197,000 | $1,024 | 2,451 |
| Chamberlain | 6.77% | $203,000 | $1,055 | 2,387 |
| Flandreau | 6.73% | $204,000 | $1,056 | 2,341 |
| Redfield | 6.64% | $215,000 | $1,103 | 2,262 |
| 10 more South Dakota city mortgage-rate pages are available as individual pages and in the XML sitemap. | ||||
South Dakota Mortgage Rates Guide — 2026
South Dakota homebuyers can use an estimated 30-year fixed benchmark of 6.76%, with median home prices around $224,700. At these rates, the typical monthly mortgage payment (principal and interest with 20% down) is $1,167.
The most affordable city for homebuyers in South Dakota is Huron, where the median home price is $155,000. On the other end, McLaughlin has the highest prices at $310,000. Property tax rates across the state average 1.3%.
To comfortably afford a home at the state average price, a household income of approximately $50,014 is recommended, following the standard guideline that housing costs should not exceed 28% of gross income.
Use our free loan calculator to see your estimated monthly payments and amortization schedule, or browse individual city pages below for localized rate data and market insights.
Methodology & Mortgage Rate Data Sources
How we calculate South Dakota mortgage rates: Our rate estimates start with weekly mortgage-rate benchmarks and then compare city-level housing assumptions. They are designed for planning and comparison, not as a guarantee of lender pricing.
- Benchmark mortgage rates from Freddie Mac Primary Mortgage Market Survey (PMMS) — the most-cited weekly survey of 30-year and 15-year fixed conforming rates.
- Federal Reserve rate policy tracked via FRED — Federal Reserve Economic Data — the St. Louis Fed's authoritative database of interest rate series.
- Conforming loan limits set annually by the FHFA Conforming Loan Limit announcements (South Dakota 2026: $832,750 baseline, with higher one-unit limits in high-cost counties).
- State lending regulation context from HUD State Information pages covering FHA, down payment assistance, and housing finance agency programs in South Dakota.
- Mortgage market trends tracked via Mortgage Bankers Association (MBA) Weekly Applications Survey — the industry benchmark for mortgage demand and rate sensitivity.
Authoritative mortgage rate data sources:
- Freddie Mac PMMS — weekly 30yr and 15yr fixed rate benchmark
- FRED — Federal Reserve Economic Data — interest rate and housing series
- FHFA — Federal Housing Finance Agency — conforming loan limits and HPI
- HUD — Housing and Urban Development — FHA programs and state assistance
- CFPB Mortgage Rate Checker — personalized rate comparison tool
- VA Home Loan Program — zero down payment loan for eligible veterans
Rate Disclaimer: Rates shown are estimates based on current market surveys and may not reflect actual lender quotes. Your rate depends on credit score, loan-to-value ratio, down payment, property type, and lender. Always obtain personalized rate quotes from multiple lenders. Rates change daily.
Reviewed by Brazora Monk · Last updated May 2026 · Freddie Mac PMMS data current as of June 4, 2026
Frequently Asked Questions — South Dakota Mortgages
What are current mortgage rates in South Dakota?
As of June 4, 2026, Freddie Mac's national benchmark was 6.48% for the 30-year fixed and 5.79% for the 15-year fixed. Amortio's South Dakota city comparison shows an estimated 30-year benchmark average of 6.76% and 15-year average of 6%. Rates vary by city, lender, lock date, fees, and borrower qualification.
What is the average home price in South Dakota?
The median home price across 50 cities in South Dakota is $224,700. Prices range from $155,000 in Huron to $310,000 in McLaughlin.
How much income do I need to buy a house in South Dakota?
Based on the 28% debt-to-income guideline, you would need a household income of approximately $50,014 to comfortably afford the average home in South Dakota. The median household income in the state is approximately $54,612.
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