Total monthly cost of ownership
Cost to Own a Home in Brookings, South Dakota
A $244,000 home here costs
$2,103per 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 $90,000 a year.
A standard mortgage calculator would have told you $1,330. The real number is $773 higher every month, 58% more than the payment most buyers budget for.
Compare Brookings 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.
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 $151 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
Talk to someone who works this market
These are Brookings 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 Brookings every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Brookings I already own here and may sell
Common questions
How much does it cost to own a home in Brookings?
A $244,000 home in Brookings, South Dakota costs approximately $2,103 per month with 20% down at 7.24%. That is $1,330 principal and interest, $239 property tax, $112 homeowners insurance, $219 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 $2,103 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 Brookings?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Brookings, South Dakota at today's rate takes a household income of roughly $90,000 a year. That covers the full $2,103 monthly cost, not just the mortgage payment.
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.