Mortgage payment estimates, closing cost breakdowns, and homebuying data for Spearfish, South Dakota.
Pre-filled with Spearfish median home price and South Dakota tax/insurance rates. Adjust for your property.
Estimated closing costs based on South Dakota rates and fees applied to Spearfish prices.
The median home price in Spearfish is $345,000, 17% above the South Dakota state median of $295,000. With a population of 12,193, Spearfish is a smaller market where home prices reflect strong demand and local economic factors.
Property taxes in South Dakota average 1.22% annually. This moderate property tax rate means a $345,000 home in Spearfish would carry roughly $351/month in property taxes. Homeowners insurance in South Dakota runs approximately $2,300 per year. This is within the normal range nationally.
Average rent in Spearfish is $1,120/month. With a price-to-rent ratio above 20, renting could be more economical in the short term — use our Rent vs Buy calculator to model your specific timeline.
Spearfish presents moderate affordability. The $345K median puts homeownership within reach for median-income households, though down payment savings and closing costs require planning.