Total monthly cost of ownership
Cost to Own a Home in Freeman, South Dakota
A $171,000 home here costs
$1,529per 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 $65,500 a year.
A standard mortgage calculator would have told you $932. The real number is $597 higher every month, 64% more than the payment most buyers budget for.
Compare Hutchinson County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Freeman from a five-year rolling sample, and with about 1,558 residents that sample is small. The median home value here carries a much wider margin of error than a big-city figure does, so treat it as indicative rather than exact. The Hutchinson County figures are drawn from a far larger sample if you want a steadier number.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Freeman against Hutchinson County and South Dakota
| Measure | Freeman | Hutchinson County |
|---|---|---|
| Median home value | $171,300 | $160,500 |
| Median property tax | $1,892 | $1,793 |
| Effective tax rate | 1.104% | 1.117% |
| Median gross rent | $741 | $714 |
| Population | 1,558 | 7,393 |
The weather behind that power bill
Freeman sits in Hutchinson County, which averages a high of 85.8°F in its hottest month and a low of 9.9°F in its coldest, with 25.03" of precipitation a year and 39% of it in a single three-month stretch. That climate drives 891 cooling and 6,980 heating degree days, which is what sets the $151 electricity line above.
See the full climate breakdown for Hutchinson County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Hutchinson County
Full Hutchinson County cost breakdown · Every county in South Dakota
Talk to someone who works this market
These are Freeman 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 Freeman every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Freeman I already own here and may sell
Common questions
How much does it cost to own a home in Freeman?
A $171,000 home in Freeman, South Dakota costs approximately $1,529 per month with 20% down at 7.24%. That is $932 principal and interest, $157 property tax, $78 homeowners insurance, $219 utilities and $143 set aside for maintenance.
What is the property tax rate in Freeman?
Freeman has an effective property tax rate of 1.104%, based on a median home value of $171,300 and median real estate taxes of $1,892. That is lower than the Hutchinson County average of 1.117%.
What is the average home price in Freeman?
The median owner-occupied home value in Freeman, South Dakota is $171,300, against $160,500 across Hutchinson County.
Is it cheaper to rent or buy in Freeman?
Median gross rent in Freeman is $741 a month, against $1,529 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 Freeman?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Freeman, South Dakota at today's rate takes a household income of roughly $65,500 a year. That covers the full $1,529 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Freeman, 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.