Mortgage payment estimates, closing cost breakdowns, and homebuying data for Sturgis, South Dakota.
Median Home Price
$275K
Population
7K
Avg Monthly Rent
$980
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 Sturgis.
Sturgis vs South Dakota Median
The median home price in Sturgis is $275,000, which is 7% below the South Dakota state median of $295,000.
Mortgage Calculator — Sturgis, SD
Pre-filled with Sturgis median home price and South Dakota tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $275K home using South Dakota's 1.22% tax rate and $2,300/yr insurance.
5% Down
$2,275/mo
Down: $13,750
Loan: $261K
P&I: $1,651
Tax: $280
Insurance: $192
PMI: $152
10% Down
$2,180/mo
Down: $27,500
Loan: $248K
P&I: $1,564
Tax: $280
Insurance: $192
PMI: $144
20% Down (No PMI)
$1,862/mo
Down: $55,000
Loan: $220K
P&I: $1,391
Tax: $280
Insurance: $192
Income needed (28% rule): $80K/year with 20% down, $93K/year with 10% down.
Rent vs Buy in Sturgis
Rent
$980/mo
vs
Buy (10% down)
$2,180/mo
Price-to-rent ratio: 23.4 — At a ratio above 20, renting may be more economical in Sturgis for shorter stays. Buying costs $1,200 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 Sturgis is $275,000, 7% below the South Dakota state median of $295,000. With a population of 7,094, Sturgis 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 $275,000 home in Sturgis would carry roughly $280/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 Sturgis is $980/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.
Sturgis presents moderate affordability. The $275K 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 Sturgis.