Total monthly cost of ownership
Cost to Own a Home in Redfield, South Dakota
A $117,000 home here costs
$1,193per 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 $51,000 a year.
A standard mortgage calculator would have told you $638. The real number is $556 higher every month, 87% more than the payment most buyers budget for.
Compare Spink County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Redfield from a five-year rolling sample, and with about 2,230 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 Spink 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.
Redfield against Spink County and South Dakota
| Measure | Redfield | Spink County |
|---|---|---|
| Median home value | $117,000 | $117,400 |
| Median property tax | $2,230 | $1,539 |
| Effective tax rate | 1.906% | 1.311% |
| Median gross rent | $668 | $691 |
| Population | 2,230 | 6,283 |
The weather behind that power bill
Redfield sits in Spink County, which averages a high of 84.1°F in its hottest month and a low of 2.9°F in its coldest, with 22.76" of precipitation a year and 47% of it in a single three-month stretch. That climate drives 617 cooling and 8,245 heating degree days, which is what sets the $151 electricity line above.
See the full climate breakdown for Spink County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Spink County
No other places of this size are published in Spink County.
Full Spink County cost breakdown · Every county in South Dakota
Talk to someone who works this market
These are Redfield 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 Redfield every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Redfield I already own here and may sell
Common questions
How much does it cost to own a home in Redfield?
A $117,000 home in Redfield, South Dakota costs approximately $1,193 per month with 20% down at 7.24%. That is $638 principal and interest, $186 property tax, $54 homeowners insurance, $219 utilities and $98 set aside for maintenance.
What is the property tax rate in Redfield?
Redfield has an effective property tax rate of 1.906%, based on a median home value of $117,000 and median real estate taxes of $2,230. That is higher than the Spink County average of 1.311%.
What is the average home price in Redfield?
The median owner-occupied home value in Redfield, South Dakota is $117,000, against $117,400 across Spink County.
Is it cheaper to rent or buy in Redfield?
Median gross rent in Redfield is $668 a month, against $1,193 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 Redfield?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Redfield, South Dakota at today's rate takes a household income of roughly $51,000 a year. That covers the full $1,193 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Redfield, 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.