The typical owner-occupied home in Lennox is worth about $235,900, 8% below the South Dakota median of $257,400 and 29% below the national median of $332,700. Owners pay a median $2,757 a year in property taxes, about 1.17% of their home's value, higher than the South Dakota rate of 1.06%. The median household earns $81,761 a year, so the median home costs 2.9 times the median income (3.4 times for South Dakota). 74% of occupied homes here are lived in by their owners, and 65% of those owners still have a mortgage.
Lennox at a glance
| Lennox | South Dakota | U.S. | |
|---|---|---|---|
| Median home value | $235,900 | $257,400 | $332,700 |
| Median property tax paid per year | $2,757 | $2,724 | $3,119 |
| Property tax as a share of value | 1.17% | 1.06% | 0.94% |
| Median household income | $81,761 | $75,081 | $80,734 |
| Homes lived in by their owners | 74% | 69% | 65% |
| Owner homes with a mortgage | 65% | 54% | 61% |
| Median monthly costs, owners with a mortgage | $1,558 | $1,680 | $1,963 |
| Those costs as a share of the owners' income | 18.6% | 20.4% | 21.0% |
| Median rent | $745 | $946 | $1,413 |
| Rent as a share of renters' income | 32.9% | 25.9% | 30.6% |
| Median year homes were built | 1977 | 1980 | 1980 |
| Vacant homes | 4.7% | 10.5% | 10.1% |
| Population | 2,468 | 907,428 | 334,922,499 |
What a typical home costs per month in Lennox
At this week's average 30-year rate of 7.11%, buying the median Lennox home of $235,900 with 20% down costs about $1,598 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,991, 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 $68,478 for the 20%-down payment. That payment is 23% of the median Lennox household income of $81,761; at that income and 20% down, the 28% guideline points to a home of about $282,000.
The median rent here is $745 a month, so owning the median home costs about $853 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $47,180 |
|---|---|
| Loan amount | $188,720 |
| Principal and interest | $1,270 |
| Property taxes (1.17% a year) | $230 |
| Homeowners insurance (our estimate, 0.5% a year) | $98 |
| PMI | $0 |
| Total per month | $1,598 |
Change the numbers in the calculator
| Down payment | $8,256 |
|---|---|
| Loan amount | $231,627 |
| Principal and interest | $1,558 |
| Property taxes (1.17% a year) | $230 |
| Homeowners insurance (our estimate, 0.5% a year) | $98 |
| FHA mortgage insurance | $104 |
| Total per month | $1,991 |
Change the numbers in the calculator
Questions about home buying in Lennox
What is the median home value in Lennox?
About $235,900 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Lennox?
Homeowners pay a median $2,757 a year, which is about 1.17% 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 Lennox?
For the median home with 20% down at 7.11%, the payment is about $1,598 a month. Keeping that under 28% of gross income takes about $68,478 a year.
More about Lennox
- Mortgage Refinance in Lennox
- Debt Relief in Lennox
- Home Equity Loans in Lennox
- 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