The typical owner-occupied home in Dakota is worth about $236,200, 28% below the Minnesota median of $329,300 and 29% below the national median of $332,700. Owners pay a median $2,061 a year in property taxes, about 0.87% of their home's value, lower than the Minnesota rate of 1.02%. The median household earns $95,357 a year, so the median home costs 2.5 times the median income (3.7 times for Minnesota). 97% of occupied homes here are lived in by their owners, and 63% of those owners still have a mortgage.
Dakota at a glance
| Dakota | Minnesota | U.S. | |
|---|---|---|---|
| Median home value | $236,200 | $329,300 | $332,700 |
| Median property tax paid per year | $2,061 | $3,357 | $3,119 |
| Property tax as a share of value | 0.87% | 1.02% | 0.94% |
| Median household income | $95,357 | $89,062 | $80,734 |
| Homes lived in by their owners | 97% | 72% | 65% |
| Owner homes with a mortgage | 63% | 64% | 61% |
| Median monthly costs, owners with a mortgage | $1,844 | $1,947 | $1,963 |
| Those costs as a share of the owners' income | 19.3% | 19.7% | 21.0% |
| Median rent | – | $1,280 | $1,413 |
| Median year homes were built | 1965 | 1979 | 1980 |
| Vacant homes | 23.3% | 9.3% | 10.1% |
| Population | 304 | 5,739,445 | 334,922,499 |
What a typical home costs per month in Dakota
At this week's average 30-year rate of 7.11%, buying the median Dakota home of $236,200 with 20% down costs about $1,541 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,934, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $66,035 for the 20%-down payment. That payment is 19% of the median Dakota household income of $95,357; at that income and 20% down, the 28% guideline points to a home of about $341,000.
| Down payment | $47,240 |
|---|---|
| Loan amount | $188,960 |
| Principal and interest | $1,271 |
| Property taxes (0.87% a year) | $171 |
| Homeowners insurance (our estimate, 0.5% a year) | $98 |
| PMI | $0 |
| Total per month | $1,541 |
Change the numbers in the calculator
| Down payment | $8,267 |
|---|---|
| Loan amount | $231,922 |
| Principal and interest | $1,560 |
| Property taxes (0.87% a year) | $171 |
| Homeowners insurance (our estimate, 0.5% a year) | $98 |
| FHA mortgage insurance | $104 |
| Total per month | $1,934 |
Change the numbers in the calculator
Questions about home buying in Dakota
What is the median home value in Dakota?
About $236,200 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Dakota?
Homeowners pay a median $2,061 a year, which is about 0.87% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Dakota?
For the median home with 20% down at 7.11%, the payment is about $1,541 a month. Keeping that under 28% of gross income takes about $66,035 a year.
More about Dakota
- Mortgage Refinance in Dakota
- Debt Relief in Dakota
- Home Equity Loans in Dakota
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data