The typical owner-occupied home in Tripp is worth about $66,300, 74% below the South Dakota median of $257,400 and 80% below the national median of $332,700. Owners pay a median $1,526 a year in property taxes, about 2.30% of their home's value, higher than the South Dakota rate of 1.06%. The median household earns $59,167 a year, so the median home costs 1.1 times the median income (3.4 times for South Dakota). 67% of occupied homes here are lived in by their owners, and 26% of those owners still have a mortgage.
Tripp at a glance
| Tripp | South Dakota | U.S. | |
|---|---|---|---|
| Median home value | $66,300 | $257,400 | $332,700 |
| Median property tax paid per year | $1,526 | $2,724 | $3,119 |
| Property tax as a share of value | 2.30% | 1.06% | 0.94% |
| Median household income | $59,167 | $75,081 | $80,734 |
| Homes lived in by their owners | 67% | 69% | 65% |
| Owner homes with a mortgage | 26% | 54% | 61% |
| Median monthly costs, owners with a mortgage | $1,129 | $1,680 | $1,963 |
| Those costs as a share of the owners' income | 13.5% | 20.4% | 21.0% |
| Median rent | $334 | $946 | $1,413 |
| Rent as a share of renters' income | 22.7% | 25.9% | 30.6% |
| Median year homes were built | 1950 | 1980 | 1980 |
| Vacant homes | 12.8% | 10.5% | 10.1% |
| Population | 574 | 907,428 | 334,922,499 |
What a typical home costs per month in Tripp
At this week's average 30-year rate of 7.11%, buying the median Tripp home of $66,300 with 20% down costs about $512 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $622, 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 $21,921 for the 20%-down payment. That payment is 10% of the median Tripp household income of $59,167; at that income and 20% down, the 28% guideline points to a home of about $179,000.
The median rent here is $334 a month, so owning the median home costs about $178 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $13,260 |
|---|---|
| Loan amount | $53,040 |
| Principal and interest | $357 |
| Property taxes (2.30% a year) | $127 |
| Homeowners insurance (our estimate, 0.5% a year) | $28 |
| PMI | $0 |
| Total per month | $512 |
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| Down payment | $2,320 |
|---|---|
| Loan amount | $65,099 |
| Principal and interest | $438 |
| Property taxes (2.30% a year) | $127 |
| Homeowners insurance (our estimate, 0.5% a year) | $28 |
| FHA mortgage insurance | $29 |
| Total per month | $622 |
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Questions about home buying in Tripp
What is the median home value in Tripp?
About $66,300 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Tripp?
Homeowners pay a median $1,526 a year, which is about 2.30% 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 Tripp?
For the median home with 20% down at 7.11%, the payment is about $512 a month. Keeping that under 28% of gross income takes about $21,921 a year.
More about Tripp
- Mortgage Refinance in Tripp
- Debt Relief in Tripp
- Home Equity Loans in Tripp
- 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