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Faulkton

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

Median Home$147,500
Median Rent$771/month
Population826
Leading IndustriesConstruction · Agriculture & Mining · Arts, Food & Hospitality12% construction
Family-Friendly24% of residentsslightly above average
Homeowners80% of occupied units
NotableAffordable Market$148k median home · lower cost than 75% of the country
Faulkton
SD

Frequently Asked Questions

What are today's mortgage rates in Faulkton?

As of today, the 30-year fixed mortgage rate for Faulkton is approximately 7.203% (7.251% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in Faulkton?

The median home value in Faulkton is $148k. The median monthly rent is $771. Annual property taxes average $916. Home values are based on U.S. Census Bureau American Community Survey estimates.

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

Based on a typical all-in ownership cost of $708/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $30k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Faulkton is $58k/year.

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What industries drive the economy in Faulkton?

The largest employment sectors in Faulkton are healthcare (13%) and agriculture and mining (12%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.