Mortgage payment estimates, closing cost breakdowns, and homebuying data for Vermillion, South Dakota.
Pre-filled with Vermillion 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 Vermillion prices.
The median home price in Vermillion is $235,000, 20% below the South Dakota state median of $295,000. With a population of 11,695, Vermillion is a smaller market where home prices tend to be more accessible than in many parts of South Dakota.
Property taxes in South Dakota average 1.22% annually. This moderate property tax rate means a $235,000 home in Vermillion would carry roughly $239/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 Vermillion is $850/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.
Vermillion offers strong affordability. With median prices under $250K, first-time buyers have realistic paths to homeownership, especially combined with South Dakota's SDHDA First-Time Homebuyer program.