The typical owner-occupied home in Raymond is worth about $42,800, 83% below the South Dakota median of $257,400 and 87% below the national median of $332,700. The median household earns $75,000 a year, so the median home costs 0.6 times the median income (3.4 times for South Dakota). 96% of occupied homes here are lived in by their owners, and 48% of those owners still have a mortgage.
Raymond at a glance
| Raymond | South Dakota | U.S. | |
|---|---|---|---|
| Median home value | $42,800 | $257,400 | $332,700 |
| Median property tax paid per year | – | $2,724 | $3,119 |
| Median household income | $75,000 | $75,081 | $80,734 |
| Homes lived in by their owners | 96% | 69% | 65% |
| Owner homes with a mortgage | 48% | 54% | 61% |
| Median monthly costs, owners with a mortgage | – | $1,680 | $1,963 |
| Median rent | – | $946 | $1,413 |
| Median year homes were built | 1938 | 1980 | 1980 |
| Vacant homes | 17.2% | 10.5% | 10.1% |
| Population | 82 | 907,428 | 334,922,499 |
What a typical home costs per month in Raymond
At this week's average 30-year rate of 7.11%, buying the median Raymond home of $42,800 with 20% down costs about $287 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $359, 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 $12,317 for the 20%-down payment. That payment is 5% of the median Raymond household income of $75,000; at that income and 20% down, the 28% guideline points to a home of about $261,000.
| Down payment | $8,560 |
|---|---|
| Loan amount | $34,240 |
| Principal and interest | $230 |
| Property taxes (1.10% a year) | $39 |
| Homeowners insurance (our estimate, 0.5% a year) | $18 |
| PMI | $0 |
| Total per month | $287 |
Change the numbers in the calculator
| Down payment | $1,498 |
|---|---|
| Loan amount | $42,025 |
| Principal and interest | $283 |
| Property taxes (1.10% a year) | $39 |
| Homeowners insurance (our estimate, 0.5% a year) | $18 |
| FHA mortgage insurance | $19 |
| Total per month | $359 |
Change the numbers in the calculator
Questions about home buying in Raymond
What is the median home value in Raymond?
About $42,800 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
What income do you need to buy a home in Raymond?
For the median home with 20% down at 7.11%, the payment is about $287 a month. Keeping that under 28% of gross income takes about $12,317 a year.
More about Raymond
- Mortgage Refinance in Raymond
- Debt Relief in Raymond
- Home Equity Loans in Raymond
- 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