McPherson County, SD real estate

What the numbers say

McPherson County, SD real estate at a glance

By AstroCore · Realtor.com, US Census and Freddie Mac data

Homeowners in McPherson County pay a median of $1,323 a year in property taxes on a median home value of $85,600, an effective rate of about 1.55%. The South Dakota average is 1.06%, which makes McPherson County the #64 lowest-tax of 65 counties in the state with published tax data.

Renters pay a median of $594 a month, and $693 for a two-bedroom. At today's prices a typical home costs about 12 times a year's rent, which generally favors buying.

With 20% down and today's 7.24% average 30-year rate, the monthly payment on a $86,000 home here comes to about $613 including property tax and insurance. Lenders typically want that to be under 28% of income, which works out to roughly $26,000 a year (the median household here earns $66,906).