CALCMONEY // MORTGAGE // SD // RAPID CITY
Calculate your monthly mortgage payment using Rapid City-specific property tax rates and local market data.
$310,000
6.95%
1.1%
92
| Principal & Interest | $1,642 |
| Property Tax | $284 |
| Homeowners Insurance (est.) | $103 |
| Total Monthly Payment (PITI) | $2,029 |
$62,000
$342,987
$86,963/yr
$310,000 buys the median home in Rapid City right now. With 20% down, that's a $62,000 down payment and a $248,000 loan, set against a $64,000 median household income.
Property taxes in Rapid City run 1.1% of assessed value, in line with the 1.1% national average. On the median home, that's $3,410 a year, or $284 added to the monthly payment.
No state income tax in South Dakota means the $64,000 median household income stretches further than the same salary would in an income-tax state, which matters directly against a $2,029/month payment.
Day-to-day expenses in Rapid City track at 92 against the national 100 baseline, below average once you look past the mortgage payment itself.
Rapid City's median home price runs 5% higher than nearby Sioux Falls: $295,000 there versus $310,000 here.
Once you have your payment estimate, comparing lenders is the most important step. A 0.25% rate difference on a $248,000 loan saves $11,160 in interest over 30 years.
Compare Top Rapid City Mortgage LendersSioux Falls
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