Total monthly cost of ownership
Cost to Own a Home in Tea, South Dakota
A $305,000 home here costs
$2,480per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,568. The real number is $912 higher every month — 58% 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.
Tea against Lincoln County and South Dakota
| Measure | Tea | Lincoln County |
|---|---|---|
| Median home value | $305,300 | $323,500 |
| Median property tax | $3,712 | $3,822 |
| Effective tax rate | 1.216% | 1.181% |
| Median gross rent | $1,113 | $1,237 |
| Population | 6,339 | 68,286 |
The weather behind that power bill
Tea sits in Lincoln County, which averages a high of 83.3°F in its hottest month and a low of 5.8°F in its coldest, with 27.81" of precipitation a year and 44% of it in a single three-month stretch. That climate drives 679 cooling and 7,684 heating degree days, which is what sets the $141 electricity line above.
See the full climate breakdown for Lincoln County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Lincoln County
Full Lincoln County cost breakdown · Every county in South Dakota
Common questions
How much does it cost to own a home in Tea?
A $305,000 home in Tea, South Dakota costs approximately $2,480 per month with 20% down at 6.66%. That is $1,568 principal and interest, $309 property tax, $140 homeowners insurance, $209 utilities and $254 set aside for maintenance.
What is the property tax rate in Tea?
Tea has an effective property tax rate of 1.216%, based on a median home value of $305,300 and median real estate taxes of $3,712. That is higher than the Lincoln County average of 1.181%.
What is the average home price in Tea?
The median owner-occupied home value in Tea, South Dakota is $305,300, against $323,500 across Lincoln County.
Is it cheaper to rent or buy in Tea?
Median gross rent in Tea is $1,113 a month, against $2,480 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 Tea — 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.