The typical owner-occupied home in Highmore is worth about $151,800, 41% below the South Dakota median of $257,400 and 54% below the national median of $332,700. Owners pay a median $1,986 a year in property taxes, about 1.31% of their home's value, higher than the South Dakota rate of 1.06%. The median household earns $103,017 a year, so the median home costs 1.5 times the median income (3.4 times for South Dakota). 88% of occupied homes here are lived in by their owners, and 63% of those owners still have a mortgage.
Highmore at a glance
| Highmore | South Dakota | U.S. | |
|---|---|---|---|
| Median home value | $151,800 | $257,400 | $332,700 |
| Median property tax paid per year | $1,986 | $2,724 | $3,119 |
| Property tax as a share of value | 1.31% | 1.06% | 0.94% |
| Median household income | $103,017 | $75,081 | $80,734 |
| Homes lived in by their owners | 88% | 69% | 65% |
| Owner homes with a mortgage | 63% | 54% | 61% |
| Median monthly costs, owners with a mortgage | $1,557 | $1,680 | $1,963 |
| Those costs as a share of the owners' income | 16.7% | 20.4% | 21.0% |
| Median rent | $980 | $946 | $1,413 |
| Rent as a share of renters' income | 23.3% | 25.9% | 30.6% |
| Median year homes were built | 1961 | 1980 | 1980 |
| Vacant homes | 18.0% | 10.5% | 10.1% |
| Population | 596 | 907,428 | 334,922,499 |
What a typical home costs per month in Highmore
At this week's average 30-year rate of 7.11%, buying the median Highmore home of $151,800 with 20% down costs about $1,046 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,299, 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 $44,824 for the 20%-down payment. That payment is 12% of the median Highmore household income of $103,017; at that income and 20% down, the 28% guideline points to a home of about $349,000.
The median rent here is $980 a month, so owning the median home costs about $66 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $30,360 |
|---|---|
| Loan amount | $121,440 |
| Principal and interest | $817 |
| Property taxes (1.31% a year) | $166 |
| Homeowners insurance (our estimate, 0.5% a year) | $63 |
| PMI | $0 |
| Total per month | $1,046 |
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| Down payment | $5,313 |
|---|---|
| Loan amount | $149,051 |
| Principal and interest | $1,003 |
| Property taxes (1.31% a year) | $166 |
| Homeowners insurance (our estimate, 0.5% a year) | $63 |
| FHA mortgage insurance | $67 |
| Total per month | $1,299 |
Change the numbers in the calculator
Questions about home buying in Highmore
What is the median home value in Highmore?
About $151,800 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Highmore?
Homeowners pay a median $1,986 a year, which is about 1.31% 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 Highmore?
For the median home with 20% down at 7.11%, the payment is about $1,046 a month. Keeping that under 28% of gross income takes about $44,824 a year.
More about Highmore
- Mortgage Refinance in Highmore
- Debt Relief in Highmore
- Home Equity Loans in Highmore
- 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