South Dakota Debt Overview
| Metric | South Dakota | US Average |
|---|---|---|
| Avg household debt (ex-mortgage) | $39,000 | $44,200 |
| Median home value | $296,000 | $308,000 |
| Property tax rate | 1.14% | 1.08% |
| State income tax | None | varies |
Payoff Time: $39000 Debt at 20% APR
| Monthly Payment | Payoff Time | Total Interest |
|---|---|---|
| $780/mo | 9yr 1mo | ~$45,553 |
| $1,170/mo | 4yr 2mo | ~$18,401 |
| $1,560/mo | 2yr 9mo | ~$11,872 |
| $1,950/mo | 2yr 1mo | ~$8,838 |
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What is the average debt in South Dakota?
The average household debt in South Dakota (excluding mortgage) is approximately $39,000.
Does South Dakota income tax affect debt repayment?
South Dakota has no state income tax, meaning residents keep more of their income to apply toward debt payoff.
Related: Snowball Calculator