New York vs South Dakota: Mortgage & Housing Costs
Side-by-side comparison of mortgage costs, property taxes, closing costs, and homeowners insurance between New York and South Dakota. Updated for 2026.
Metric
New York
South Dakota
Median Home Price
$430K
$295K
Property Tax Rate
1.72%
1.22%
Avg Closing Costs
$12K
$2K
Closing Cost %
2.8%
0.7%
Transfer Tax
0.8%
0.1%
Homeowners Insurance
$2,100/yr
$2,300/yr
First-Time Buyer Program
SONYMA Achieving the Dream
Up to $15,000 DPAL
SDHDA First-Time Homebuyer
Fixed-rate FTB loans
Verdict
South Dakota wins 5 of 6 cost categories, making it the more affordable state for homebuyers overall. With a median home price of $295K and lower overall costs, South Dakota offers meaningful savings compared to New York. Both states offer first-time buyer programs — explore the state pages for full details.