The typical owner-occupied home in Buffalo Gap is worth about $100,000, 61% below the South Dakota median of $257,400 and 70% below the national median of $332,700. Owners pay a median $864 a year in property taxes, about 0.86% of their home's value, lower than the South Dakota rate of 1.06%. The median household earns $54,063 a year, so the median home costs 1.8 times the median income (3.4 times for South Dakota). 96% of occupied homes here are lived in by their owners, and 22% of those owners still have a mortgage.
Buffalo Gap at a glance
| Buffalo Gap | South Dakota | U.S. | |
|---|---|---|---|
| Median home value | $100,000 | $257,400 | $332,700 |
| Median property tax paid per year | $864 | $2,724 | $3,119 |
| Property tax as a share of value | 0.86% | 1.06% | 0.94% |
| Median household income | $54,063 | $75,081 | $80,734 |
| Homes lived in by their owners | 96% | 69% | 65% |
| Owner homes with a mortgage | 22% | 54% | 61% |
| Median monthly costs, owners with a mortgage | $1,000 | $1,680 | $1,963 |
| Those costs as a share of the owners' income | 13.8% | 20.4% | 21.0% |
| Median rent | – | $946 | $1,413 |
| Median year homes were built | 1961 | 1980 | 1980 |
| Vacant homes | 21.1% | 10.5% | 10.1% |
| Population | 131 | 907,428 | 334,922,499 |
What a typical home costs per month in Buffalo Gap
At this week's average 30-year rate of 7.11%, buying the median Buffalo Gap home of $100,000 with 20% down costs about $652 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $818, 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 $27,921 for the 20%-down payment. That payment is 14% of the median Buffalo Gap household income of $54,063; at that income and 20% down, the 28% guideline points to a home of about $194,000.
| Down payment | $20,000 |
|---|---|
| Loan amount | $80,000 |
| Principal and interest | $538 |
| Property taxes (0.86% a year) | $72 |
| Homeowners insurance (our estimate, 0.5% a year) | $42 |
| PMI | $0 |
| Total per month | $652 |
Change the numbers in the calculator
| Down payment | $3,500 |
|---|---|
| Loan amount | $98,189 |
| Principal and interest | $661 |
| Property taxes (0.86% a year) | $72 |
| Homeowners insurance (our estimate, 0.5% a year) | $42 |
| FHA mortgage insurance | $44 |
| Total per month | $818 |
Change the numbers in the calculator
Questions about home buying in Buffalo Gap
What is the median home value in Buffalo Gap?
About $100,000 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Buffalo Gap?
Homeowners pay a median $864 a year, which is about 0.86% 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 Buffalo Gap?
For the median home with 20% down at 7.11%, the payment is about $652 a month. Keeping that under 28% of gross income takes about $27,921 a year.
More about Buffalo Gap
- Mortgage Refinance in Buffalo Gap
- Debt Relief in Buffalo Gap
- Home Equity Loans in Buffalo Gap
- 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