Total monthly cost of ownership
Cost to Own a Home in Brandon, South Dakota
A $317,000 home here costs
$2,682per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $115,000 a year.
A standard mortgage calculator would have told you $1,728. The real number is $954 higher every month, 55% more than the payment most buyers budget for.
Compare Minnehaha County with anywhere in America · full county breakdown
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Brandon against Minnehaha County and South Dakota
| Measure | Brandon | Minnehaha County |
|---|---|---|
| Median home value | $317,300 | $266,600 |
| Median property tax | $3,908 | $3,090 |
| Effective tax rate | 1.232% | 1.159% |
| Median gross rent | $989 | $954 |
| Population | 10,996 | 200,689 |
The weather behind that power bill
Brandon sits in Minnehaha County, which averages a high of 85.3°F in its hottest month and a low of 8.5°F in its coldest, with 27.85" of precipitation a year and 41% of it in a single three-month stretch. That climate drives 847 cooling and 7,248 heating degree days, which is what sets the $151 electricity line above.
See the full climate breakdown for Minnehaha County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Minnehaha County
Full Minnehaha County cost breakdown · Every county in South Dakota
Talk to someone who works this market
These are Brandon averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Brandon every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Brandon I already own here and may sell
Common questions
How much does it cost to own a home in Brandon?
A $317,000 home in Brandon, South Dakota costs approximately $2,682 per month with 20% down at 7.24%. That is $1,728 principal and interest, $325 property tax, $145 homeowners insurance, $219 utilities and $264 set aside for maintenance.
What is the property tax rate in Brandon?
Brandon has an effective property tax rate of 1.232%, based on a median home value of $317,300 and median real estate taxes of $3,908. That is higher than the Minnehaha County average of 1.159%.
What is the average home price in Brandon?
The median owner-occupied home value in Brandon, South Dakota is $317,300, against $266,600 across Minnehaha County.
Is it cheaper to rent or buy in Brandon?
Median gross rent in Brandon is $989 a month, against $2,682 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Brandon?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Brandon, South Dakota at today's rate takes a household income of roughly $115,000 a year. That covers the full $2,682 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Brandon, US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance, NAIC average premium for South Dakota.
- Electricity price, EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate, Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.