Total monthly cost of ownership
Cost to Own a Home in Colman, South Dakota
A $228,000 home here costs
$1,876per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,172. The real number is $704 higher every month — 60% 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.
Colman against Moody County and South Dakota
| Measure | Colman | Moody County |
|---|---|---|
| Median home value | $227,600 | $206,300 |
| Median property tax | $2,391 | $2,231 |
| Effective tax rate | 1.051% | 1.081% |
| Median gross rent | $728 | $723 |
| Population | 1,011 | 6,371 |
The weather behind that power bill
Colman sits in Moody County, which averages a high of 81.3°F in its hottest month and a low of 3.5°F in its coldest, with 28.49" of precipitation a year and 44% of it in a single three-month stretch. That climate drives 512 cooling and 8,376 heating degree days, which is what sets the $141 electricity line above.
See the full climate breakdown for Moody County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Moody County
Full Moody County cost breakdown · Every county in South Dakota
Common questions
How much does it cost to own a home in Colman?
A $228,000 home in Colman, South Dakota costs approximately $1,876 per month with 20% down at 6.66%. That is $1,172 principal and interest, $200 property tax, $105 homeowners insurance, $209 utilities and $190 set aside for maintenance.
What is the property tax rate in Colman?
Colman has an effective property tax rate of 1.051%, based on a median home value of $227,600 and median real estate taxes of $2,391. That is lower than the Moody County average of 1.081%.
What is the average home price in Colman?
The median owner-occupied home value in Colman, South Dakota is $227,600, against $206,300 across Moody County.
Is it cheaper to rent or buy in Colman?
Median gross rent in Colman is $728 a month, against $1,876 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 Colman — 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.