Total monthly cost of ownership
Cost to Own a Home in Marion, South Dakota
A $167,000 home here costs
$1,450per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $859. The real number is $591 higher every month — 69% 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.
Marion against Turner County and South Dakota
| Measure | Marion | Turner County |
|---|---|---|
| Median home value | $167,400 | $199,000 |
| Median property tax | $1,995 | $2,072 |
| Effective tax rate | 1.192% | 1.041% |
| Median gross rent | $811 | $745 |
| Population | 1,004 | 8,772 |
The weather behind that power bill
Marion sits in Turner 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 $141 electricity line above.
See the full climate breakdown for Turner County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Turner County
Full Turner County cost breakdown · Every county in South Dakota
Common questions
How much does it cost to own a home in Marion?
A $167,000 home in Marion, South Dakota costs approximately $1,450 per month with 20% down at 6.66%. That is $859 principal and interest, $166 property tax, $77 homeowners insurance, $209 utilities and $139 set aside for maintenance.
What is the property tax rate in Marion?
Marion has an effective property tax rate of 1.192%, based on a median home value of $167,400 and median real estate taxes of $1,995. That is higher than the Turner County average of 1.041%.
What is the average home price in Marion?
The median owner-occupied home value in Marion, South Dakota is $167,400, against $199,000 across Turner County.
Is it cheaper to rent or buy in Marion?
Median gross rent in Marion is $811 a month, against $1,450 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 Marion — 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.