Total monthly cost of ownership
Cost to Own a Home in Platte, South Dakota
A $166,000 home here costs
$1,422per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $853. The real number is $568 higher every month — 67% 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.
Platte against Charles Mix County and South Dakota
| Measure | Platte | Charles Mix County |
|---|---|---|
| Median home value | $165,700 | $169,200 |
| Median property tax | $1,731 | $1,823 |
| Effective tax rate | 1.045% | 1.077% |
| Median gross rent | $860 | $727 |
| Population | 1,310 | 9,281 |
The weather behind that power bill
Platte sits in Charles Mix County, which averages a high of 87.4°F in its hottest month and a low of 11.7°F in its coldest, with 24.36" of precipitation a year and 44% of it in a single three-month stretch. That climate drives 950 cooling and 6,744 heating degree days, which is what sets the $141 electricity line above.
See the full climate breakdown for Charles Mix County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Charles Mix County
Full Charles Mix County cost breakdown · Every county in South Dakota
Common questions
How much does it cost to own a home in Platte?
A $166,000 home in Platte, South Dakota costs approximately $1,422 per month with 20% down at 6.66%. That is $853 principal and interest, $145 property tax, $76 homeowners insurance, $209 utilities and $138 set aside for maintenance.
What is the property tax rate in Platte?
Platte has an effective property tax rate of 1.045%, based on a median home value of $165,700 and median real estate taxes of $1,731. That is lower than the Charles Mix County average of 1.077%.
What is the average home price in Platte?
The median owner-occupied home value in Platte, South Dakota is $165,700, against $169,200 across Charles Mix County.
Is it cheaper to rent or buy in Platte?
Median gross rent in Platte is $860 a month, against $1,422 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 Platte — 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.