Total monthly cost of ownership
Cost to Own a Home in Springfield, South Dakota
A $127,000 home here costs
$1,131per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $653. The real number is $478 higher every month — 73% 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.
Springfield against Bon Homme County and South Dakota
| Measure | Springfield | Bon Homme County |
|---|---|---|
| Median home value | $126,800 | $120,300 |
| Median property tax | $1,250 | $1,499 |
| Effective tax rate | 0.986% | 1.246% |
| Median gross rent | $802 | $620 |
| Population | 2,073 | 7,024 |
The weather behind that power bill
Springfield sits in Bon Homme County, which averages a high of 85.8°F in its hottest month and a low of 8.7°F in its coldest, with 26.24" of precipitation a year and 41% of it in a single three-month stretch. That climate drives 833 cooling and 7,256 heating degree days, which is what sets the $141 electricity line above.
See the full climate breakdown for Bon Homme County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Bon Homme County
Full Bon Homme County cost breakdown · Every county in South Dakota
Common questions
How much does it cost to own a home in Springfield?
A $127,000 home in Springfield, South Dakota costs approximately $1,131 per month with 20% down at 6.66%. That is $653 principal and interest, $104 property tax, $58 homeowners insurance, $209 utilities and $106 set aside for maintenance.
What is the property tax rate in Springfield?
Springfield has an effective property tax rate of 0.986%, based on a median home value of $126,800 and median real estate taxes of $1,250. That is lower than the Bon Homme County average of 1.246%.
What is the average home price in Springfield?
The median owner-occupied home value in Springfield, South Dakota is $126,800, against $120,300 across Bon Homme County.
Is it cheaper to rent or buy in Springfield?
Median gross rent in Springfield is $802 a month, against $1,131 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 Springfield — 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.