Get & compare mortgage quotes anonymously Start in My Home

Safe Rate Local

Elk Point

Learn about the people, housing, costs and businesses in Elk Point, South Dakota

Median Home$237,800
Population2,290
Leading IndustriesManufacturing · Agriculture & Mining · Wholesale Trade3% manufacturing
Home Value Growth+4.2% over 2 years
Family-Friendly24% of residentsslightly above average
Homeowners83% of occupied units
NotableVeteran Community11% of residents · top 9% nationally
NotableHigh Incomes$95k/year · top 21% nationally
Elk Point
SD

Frequently Asked Questions

What are today's mortgage rates in Elk Point?

As of today, the 30-year fixed mortgage rate for Elk Point is approximately 6.981% (7.020% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

View current rates for Elk Point
What is the median home price in Elk Point?

The median home value in Elk Point is $238k. Annual property taxes average $3k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Elk Point?

Home values in Elk Point have increased 4.2% over the past two years. This represents moderate growth. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Elk Point?

Based on a typical all-in ownership cost of $1,010/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $43k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Elk Point is $95k/year.

Calculate your buying power
What industries drive the economy in Elk Point?

The largest employment sectors in Elk Point are public administration (21%) and wholesale trade (11%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.