The typical owner-occupied home in Jefferson is worth about $179,400, 30% below the South Dakota median of $257,400 and 46% below the national median of $332,700. Owners pay a median $2,284 a year in property taxes, about 1.27% of their home's value, higher than the South Dakota rate of 1.06%. The median household earns $82,888 a year, so the median home costs 2.2 times the median income (3.4 times for South Dakota). 91% of occupied homes here are lived in by their owners, and 56% of those owners still have a mortgage.
Jefferson at a glance
| Jefferson | South Dakota | U.S. | |
|---|---|---|---|
| Median home value | $179,400 | $257,400 | $332,700 |
| Median property tax paid per year | $2,284 | $2,724 | $3,119 |
| Property tax as a share of value | 1.27% | 1.06% | 0.94% |
| Median household income | $82,888 | $75,081 | $80,734 |
| Homes lived in by their owners | 91% | 69% | 65% |
| Owner homes with a mortgage | 56% | 54% | 61% |
| Median monthly costs, owners with a mortgage | $1,179 | $1,680 | $1,963 |
| Those costs as a share of the owners' income | 18.3% | 20.4% | 21.0% |
| Median rent | – | $946 | $1,413 |
| Rent as a share of renters' income | 16.7% | 25.9% | 30.6% |
| Median year homes were built | 1974 | 1980 | 1980 |
| Vacant homes | 4.1% | 10.5% | 10.1% |
| Population | 554 | 907,428 | 334,922,499 |
What a typical home costs per month in Jefferson
At this week's average 30-year rate of 7.11%, buying the median Jefferson home of $179,400 with 20% down costs about $1,230 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,529, 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 $52,718 for the 20%-down payment. That payment is 18% of the median Jefferson household income of $82,888; at that income and 20% down, the 28% guideline points to a home of about $282,000.
| Down payment | $35,880 |
|---|---|
| Loan amount | $143,520 |
| Principal and interest | $965 |
| Property taxes (1.27% a year) | $190 |
| Homeowners insurance (our estimate, 0.5% a year) | $75 |
| PMI | $0 |
| Total per month | $1,230 |
Change the numbers in the calculator
| Down payment | $6,279 |
|---|---|
| Loan amount | $176,151 |
| Principal and interest | $1,185 |
| Property taxes (1.27% a year) | $190 |
| Homeowners insurance (our estimate, 0.5% a year) | $75 |
| FHA mortgage insurance | $79 |
| Total per month | $1,529 |
Change the numbers in the calculator
Questions about home buying in Jefferson
What is the median home value in Jefferson?
About $179,400 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Jefferson?
Homeowners pay a median $2,284 a year, which is about 1.27% 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 Jefferson?
For the median home with 20% down at 7.11%, the payment is about $1,230 a month. Keeping that under 28% of gross income takes about $52,718 a year.
More about Jefferson
- Mortgage Refinance in Jefferson
- Debt Relief in Jefferson
- Home Equity Loans in Jefferson
- 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