The typical owner-occupied home in Wakonda is worth about $107,100, 58% below the South Dakota median of $257,400 and 68% below the national median of $332,700. Owners pay a median $1,680 a year in property taxes, about 1.57% of their home's value, higher than the South Dakota rate of 1.06%. The median household earns $61,250 a year, so the median home costs 1.7 times the median income (3.4 times for South Dakota). 83% of occupied homes here are lived in by their owners, and 61% of those owners still have a mortgage.
Wakonda at a glance
| Wakonda | South Dakota | U.S. | |
|---|---|---|---|
| Median home value | $107,100 | $257,400 | $332,700 |
| Median property tax paid per year | $1,680 | $2,724 | $3,119 |
| Property tax as a share of value | 1.57% | 1.06% | 0.94% |
| Median household income | $61,250 | $75,081 | $80,734 |
| Homes lived in by their owners | 83% | 69% | 65% |
| Owner homes with a mortgage | 61% | 54% | 61% |
| Median monthly costs, owners with a mortgage | $1,056 | $1,680 | $1,963 |
| Those costs as a share of the owners' income | 22.5% | 20.4% | 21.0% |
| Median rent | $807 | $946 | $1,413 |
| Rent as a share of renters' income | 51.0% | 25.9% | 30.6% |
| Median year homes were built | 1944 | 1980 | 1980 |
| Vacant homes | 24.2% | 10.5% | 10.1% |
| Population | 399 | 907,428 | 334,922,499 |
What a typical home costs per month in Wakonda
At this week's average 30-year rate of 7.11%, buying the median Wakonda home of $107,100 with 20% down costs about $761 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $940, 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 $32,619 for the 20%-down payment. That payment is 15% of the median Wakonda household income of $61,250; at that income and 20% down, the 28% guideline points to a home of about $201,000.
The median rent here is $807 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $21,420 |
|---|---|
| Loan amount | $85,680 |
| Principal and interest | $576 |
| Property taxes (1.57% a year) | $140 |
| Homeowners insurance (our estimate, 0.5% a year) | $45 |
| PMI | $0 |
| Total per month | $761 |
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| Down payment | $3,748 |
|---|---|
| Loan amount | $105,160 |
| Principal and interest | $707 |
| Property taxes (1.57% a year) | $140 |
| Homeowners insurance (our estimate, 0.5% a year) | $45 |
| FHA mortgage insurance | $47 |
| Total per month | $940 |
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Questions about home buying in Wakonda
What is the median home value in Wakonda?
About $107,100 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Wakonda?
Homeowners pay a median $1,680 a year, which is about 1.57% 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 Wakonda?
For the median home with 20% down at 7.11%, the payment is about $761 a month. Keeping that under 28% of gross income takes about $32,619 a year.
More about Wakonda
- Mortgage Refinance in Wakonda
- Debt Relief in Wakonda
- Home Equity Loans in Wakonda
- 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