The typical owner-occupied home in Ramona is worth about $85,800, 67% below the South Dakota median of $257,400 and 74% below the national median of $332,700. Owners pay a median $800 a year in property taxes, about 0.93% of their home's value, lower than the South Dakota rate of 1.06%. The median household earns $78,750 a year, so the median home costs 1.1 times the median income (3.4 times for South Dakota). 76% of occupied homes here are lived in by their owners, and 29% of those owners still have a mortgage.
Ramona at a glance
| Ramona | South Dakota | U.S. | |
|---|---|---|---|
| Median home value | $85,800 | $257,400 | $332,700 |
| Median property tax paid per year | $800 | $2,724 | $3,119 |
| Property tax as a share of value | 0.93% | 1.06% | 0.94% |
| Median household income | $78,750 | $75,081 | $80,734 |
| Homes lived in by their owners | 76% | 69% | 65% |
| Owner homes with a mortgage | 29% | 54% | 61% |
| Median monthly costs, owners with a mortgage | $763 | $1,680 | $1,963 |
| Those costs as a share of the owners' income | 25.3% | 20.4% | 21.0% |
| Median rent | $675 | $946 | $1,413 |
| Rent as a share of renters' income | 12.5% | 25.9% | 30.6% |
| Median year homes were built | 1970 | 1980 | 1980 |
| Vacant homes | 14.2% | 10.5% | 10.1% |
| Population | 538 | 907,428 | 334,922,499 |
What a typical home costs per month in Ramona
At this week's average 30-year rate of 7.11%, buying the median Ramona home of $85,800 with 20% down costs about $564 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $707, 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 $24,171 for the 20%-down payment. That payment is 9% of the median Ramona household income of $78,750; at that income and 20% down, the 28% guideline points to a home of about $280,000.
The median rent here is $675 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $17,160 |
|---|---|
| Loan amount | $68,640 |
| Principal and interest | $462 |
| Property taxes (0.93% a year) | $66 |
| Homeowners insurance (our estimate, 0.5% a year) | $36 |
| PMI | $0 |
| Total per month | $564 |
Change the numbers in the calculator
| Down payment | $3,003 |
|---|---|
| Loan amount | $84,246 |
| Principal and interest | $567 |
| Property taxes (0.93% a year) | $66 |
| Homeowners insurance (our estimate, 0.5% a year) | $36 |
| FHA mortgage insurance | $38 |
| Total per month | $707 |
Change the numbers in the calculator
Questions about home buying in Ramona
What is the median home value in Ramona?
About $85,800 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Ramona?
Homeowners pay a median $800 a year, which is about 0.93% 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 Ramona?
For the median home with 20% down at 7.11%, the payment is about $564 a month. Keeping that under 28% of gross income takes about $24,171 a year.
More about Ramona
- Mortgage Refinance in Ramona
- Debt Relief in Ramona
- Home Equity Loans in Ramona
- 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