Mortgage payment estimates, closing cost breakdowns, and homebuying data for Box Elder, South Dakota.
Median Home Price
$285K
Population
11K
Avg Monthly Rent
$1,050
Property Tax Rate
1.22% *
* Property tax shown is the South Dakota state average effective rate. Actual rates vary by county, city, and school district — check with your local assessor for exact rates in Box Elder.
Box Elder vs South Dakota Median
The median home price in Box Elder is $285,000, which is roughly in line with the South Dakota state median of $295,000.
Mortgage Calculator — Box Elder, SD
Pre-filled with Box Elder median home price and South Dakota tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $285K home using South Dakota's 1.22% tax rate and $2,300/yr insurance.
5% Down
$2,351/mo
Down: $14,250
Loan: $271K
P&I: $1,711
Tax: $290
Insurance: $192
PMI: $158
10% Down
$2,252/mo
Down: $28,500
Loan: $257K
P&I: $1,621
Tax: $290
Insurance: $192
PMI: $150
20% Down (No PMI)
$1,923/mo
Down: $57,000
Loan: $228K
P&I: $1,441
Tax: $290
Insurance: $192
Income needed (28% rule): $82K/year with 20% down, $97K/year with 10% down.
Rent vs Buy in Box Elder
Rent
$1,050/mo
vs
Buy (10% down)
$2,252/mo
Price-to-rent ratio: 22.6 — At a ratio above 20, renting may be more economical in Box Elder for shorter stays. Buying costs $1,202 more per month than renting, and it typically takes 5-7 years to break even on the transaction costs of buying.
The median home price in Box Elder is $285,000, roughly in line with the South Dakota state median of $295,000. With a population of 11,030, Box Elder is a smaller market where home prices tend to be more accessible than in many parts of South Dakota.
Property taxes in South Dakota average 1.22% annually. This moderate property tax rate means a $285,000 home in Box Elder would carry roughly $290/month in property taxes. Homeowners insurance in South Dakota runs approximately $2,300 per year. This is within the normal range nationally.
Average rent in Box Elder is $1,050/month. With a price-to-rent ratio above 20, renting could be more economical in the short term — use our Rent vs Buy calculator to model your specific timeline.
Box Elder presents moderate affordability. The $285K median puts homeownership within reach for median-income households, though down payment savings and closing costs require planning.
Run a Rent vs Buy analysis
Compare total costs of renting vs buying in Box Elder.