Total monthly cost of ownership
Cost to Own a Home in Brookings, South Dakota
A $244,000 home here costs
$2,018per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,254. The real number is $764 higher every month — 61% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Brookings against Brookings County and South Dakota
| Measure | Brookings | Brookings County |
|---|---|---|
| Median home value | $243,600 | $246,300 |
| Median property tax | $2,864 | $2,795 |
| Effective tax rate | 1.176% | 1.135% |
| Median gross rent | $862 | $874 |
| Population | 23,710 | 34,968 |
The weather behind that power bill
Brookings sits in Brookings County, which averages a high of 81.4°F in its hottest month and a low of 3.5°F in its coldest, with 25.21" of precipitation a year and 45% of it in a single three-month stretch. That climate drives 524 cooling and 8,378 heating degree days, which is what sets the $141 electricity line above.
See the full climate breakdown for Brookings County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Brookings County
Full Brookings County cost breakdown · Every county in South Dakota
Common questions
How much does it cost to own a home in Brookings?
A $244,000 home in Brookings, South Dakota costs approximately $2,018 per month with 20% down at 6.66%. That is $1,254 principal and interest, $239 property tax, $112 homeowners insurance, $209 utilities and $203 set aside for maintenance.
What is the property tax rate in Brookings?
Brookings has an effective property tax rate of 1.176%, based on a median home value of $243,600 and median real estate taxes of $2,864. That is higher than the Brookings County average of 1.135%.
What is the average home price in Brookings?
The median owner-occupied home value in Brookings, South Dakota is $243,600, against $246,300 across Brookings County.
Is it cheaper to rent or buy in Brookings?
Median gross rent in Brookings is $862 a month, against $2,018 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Brookings — 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.