A new report by Stacker shows that homes in Minnehaha, Lincoln, Turner, Moody, McCook, and Lake Counties are not among the 30 cheapest counties to buy a home.
The least expensive homes were out-state, primarily West River and central South Dakota.
Todd County had the lowest median home value in the nation at $26,900.
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The real estate market is booming right now thanks to low interest rates, a flood of millennial buyers, and shrinking inventory. The median cost of a home has increased 20% year over year, hitting $347,500, according to a report released in April 2020 by real estate listing website Redfin. These high asking costs—while good for sellers—are pricing many buyers out of the market entirely.
But all things are not equal when it comes to real estate in the United States.
Credible used 2021 data calculated by the National Association of REALTORS to compile a list of counties with the lowest median home values and monthly mortgage payments in South Dakota. Counties were ranked by the monthly mortgage payment for a typical home in 2020, from lowest to highest. Ties were broken by median home values in 2020.
The National Association of REALTORS calculated the fourth quarter 2020 median home values by applying the Federal Housing Finance Agency’s House Price Index growth to 2019 housing and population data from the American Community Survey and determining an estimate of 2020 median home values for all counties where data is available. The monthly mortgage payments for fourth quarter 2019 and fourth quarter 2020 were calculated for a 30-year fixed-rate mortgage with a 10% down payment.
Keep reading to discover which county in South Dakota has the lowest home prices.
Rolf Blauert Dk4hb // Wikimedia Commons
#30. Lyman County
– Monthly mortgage payment in 2020: $394 (4.0% greater than 2019)
– Monthly mortgage payment in 2019: $379
– Median home value in 2020: $106,400
– Ranked #864 out of 3,120 counties nationwide
JERRYE AND ROY KLOTZ MD // Wikimedia Commons
#29. Clark County
– Monthly mortgage payment in 2020: $392 (1.0% greater than 2019)
– Monthly mortgage payment in 2019: $388
– Median home value in 2020: $106,000
– Ranked #848 out of 3,120 counties nationwide
JERRYE AND ROY KLOTZ MD // Wikimedia Commons
#28. Potter County
– Monthly mortgage payment in 2020: $392 (0.3% less than 2019)
– Monthly mortgage payment in 2019: $393
– Median home value in 2020: $105,900
– Ranked #847 out of 3,120 counties nationwide
Matt Lemmon (mattlemmon) // Wikimedia Commons
#27. Perkins County
– Monthly mortgage payment in 2020: $391 (2.0% less than 2019)
– Monthly mortgage payment in 2019: $399
– Median home value in 2020: $105,600
– Ranked #840 out of 3,120 counties nationwide
Ammodramus // Wikimedia Commons
#26. Tripp County
– Monthly mortgage payment in 2020: $388 (0.8% less than 2019)
– Monthly mortgage payment in 2019: $391
– Median home value in 2020: $104,700
– Ranked #819 out of 3,120 counties nationwide
#25. Harding County
– Monthly mortgage payment in 2020: $387 (8.9% less than 2019)
– Monthly mortgage payment in 2019: $425
– Median home value in 2020: $104,600
– Ranked #815 out of 3,120 counties nationwide
Jimmy Emerson, DVM // Flickr
#24. Day County
– Monthly mortgage payment in 2020: $385 (5.2% less than 2019)
– Monthly mortgage payment in 2019: $406
– Median home value in 2020: $104,000
– Ranked #803 out of 3,120 counties nationwide
Sdgjake // Wikimedia Commons
#23. Douglas County
– Monthly mortgage payment in 2020: $362 (2.2% less than 2019)
– Monthly mortgage payment in 2019: $370
– Median home value in 2020: $97,700
– Ranked #655 out of 3,120 counties nationwide
Sdgjake // Wikimedia Commons
#22. Hutchinson County
– Monthly mortgage payment in 2020: $361 (2.4% less than 2019)
– Monthly mortgage payment in 2019: $370
– Median home value in 2020: $97,400
– Ranked #648 out of 3,120 counties nationwide
Ammodramus // Wikimedia Commons
#21. Bon Homme County
– Monthly mortgage payment in 2020: $343 (4.7% less than 2019)
– Monthly mortgage payment in 2019: $360
– Median home value in 2020: $92,700
– Ranked #528 out of 3,120 counties nationwide
J. Stephen Conn // Flickr
#20. Hyde County
– Monthly mortgage payment in 2020: $340 (0.3% less than 2019)
– Monthly mortgage payment in 2019: $341
– Median home value in 2020: $91,900
– Ranked #511 out of 3,120 counties nationwide
Tony Webster from Minneapolis, Minnesota // Wikimedia Commons
#19. Walworth County
– Monthly mortgage payment in 2020: $338 (6.9% less than 2019)
– Monthly mortgage payment in 2019: $363
– Median home value in 2020: $91,300
– Ranked #493 out of 3,120 counties nationwide
J. Stephen Conn // Flickr
#18. Sanborn County
– Monthly mortgage payment in 2020: $336 (0.0% greater than 2019)
– Monthly mortgage payment in 2019: $336
– Median home value in 2020: $90,700
– Ranked #474 out of 3,120 counties nationwide
Ammodramus // Wikimedia Commons
#17. Aurora County
– Monthly mortgage payment in 2020: $329 (4.1% less than 2019)
– Monthly mortgage payment in 2019: $343
– Median home value in 2020: $88,800
– Ranked #431 out of 3,120 counties nationwide
JERRYE AND ROY KLOTZ MD // Wikimedia Commons
#16. Faulk County
– Monthly mortgage payment in 2020: $326 (13.8% less than 2019)
– Monthly mortgage payment in 2019: $378
– Median home value in 2020: $88,100
– Ranked #403 out of 3,120 counties nationwide
Ammodramus // Wikimedia Commons
#15. Gregory County
– Monthly mortgage payment in 2020: $320 (1.5% less than 2019)
– Monthly mortgage payment in 2019: $325
– Median home value in 2020: $86,300
– Ranked #363 out of 3,120 counties nationwide
JERRYE AND ROY KLOTZ MD // Wikimedia Commons
#14. Spink County
– Monthly mortgage payment in 2020: $317 (9.2% less than 2019)
– Monthly mortgage payment in 2019: $349
– Median home value in 2020: $85,700
– Ranked #345 out of 3,120 counties nationwide
Ammodramus // Wikimedia Commons
#13. Jerauld County
– Monthly mortgage payment in 2020: $314 (9.8% less than 2019)
– Monthly mortgage payment in 2019: $348
– Median home value in 2020: $84,800
– Ranked #314 out of 3,120 counties nationwide
Magicpiano // Wikimedia Commons
#12. Jones County
– Monthly mortgage payment in 2020: $295 (14.2% less than 2019)
– Monthly mortgage payment in 2019: $344
– Median home value in 2020: $79,800
– Ranked #220 out of 3,120 counties nationwide
Jimmy Emerson, DVM // Flickr
#11. Miner County
– Monthly mortgage payment in 2020: $295 (10.1% less than 2019)
– Monthly mortgage payment in 2019: $328
– Median home value in 2020: $79,700
– Ranked #218 out of 3,120 counties nationwide
Ammodramus // Wikimedia Commons
#10. Bennett County
– Monthly mortgage payment in 2020: $291 (12.1% less than 2019)
– Monthly mortgage payment in 2019: $331
– Median home value in 2020: $78,600
– Ranked #196 out of 3,120 counties nationwide
USDA // Wikimedia Commons
#9. Campbell County
– Monthly mortgage payment in 2020: $264 (7.7% less than 2019)
– Monthly mortgage payment in 2019: $286
– Median home value in 2020: $71,200
– Ranked #108 out of 3,120 counties nationwide
Runner1928 // Wikimedia Commons
#8. Dewey County
– Monthly mortgage payment in 2020: $247 (11.2% less than 2019)
– Monthly mortgage payment in 2019: $278
– Median home value in 2020: $66,600
– Ranked #64 out of 3,120 counties nationwide
Jon Roanhaus // Wikimedia Commons
#7. McPherson County
– Monthly mortgage payment in 2020: $226 (8.1% less than 2019)
– Monthly mortgage payment in 2019: $246
– Median home value in 2020: $61,000
– Ranked #41 out of 3,120 counties nationwide
JERRYE AND ROY KLOTZ MD // Wikimedia Commons
#6. Corson County
– Monthly mortgage payment in 2020: $224 (11.1% less than 2019)
– Monthly mortgage payment in 2019: $252
– Median home value in 2020: $60,500
– Ranked #38 out of 3,120 counties nationwide
Jeff the quiet // Wikimedia Commons
#5. Ziebach County
– Monthly mortgage payment in 2020: $221 (11.2% less than 2019)
– Monthly mortgage payment in 2019: $249
– Median home value in 2020: $59,700
– Ranked #36 out of 3,120 counties nationwide
Jonathunder // Wikimedia Commons
#4. Jackson County
– Monthly mortgage payment in 2020: $201 (16.3% less than 2019)
– Monthly mortgage payment in 2019: $240
– Median home value in 2020: $54,300
– Ranked #21 out of 3,120 counties nationwide
Harry Weddington, U.S. Army Corps of Engineers // Wikimedia Commons
#3. Buffalo County
– Monthly mortgage payment in 2020: $188 (13.4% less than 2019)
– Monthly mortgage payment in 2019: $217
– Median home value in 2020: $50,700
– Ranked #11 out of 3,120 counties nationwide
Canva
#2. Mellette County
– Monthly mortgage payment in 2020: $123 (36.9% less than 2019)
– Monthly mortgage payment in 2019: $195
– Median home value in 2020: $33,200
– Ranked #2 out of 3,120 counties nationwide
Ammodramus // Wikimedia Commons
#1. Todd County
– Monthly mortgage payment in 2020: $100 (32.0% less than 2019)
– Monthly mortgage payment in 2019: $147
– Median home value in 2020: $26,900
– Ranked #1 out of 3,120 counties nationwide
