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Lake Norden

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

Median Home$203,200
Median Rent$788/month
Population595
Leading IndustriesWholesale Trade · Construction11% wholesale trade
Home Value Growth⬆⬆⬆+29.3% over 2 years
Young Adults33% of residentswell above average
Homeowners77% of occupied units
NotableHigh Incomes$86k/year · top 29% nationally
Lake Norden
SD

Frequently Asked Questions

What are today's mortgage rates in Lake Norden?

As of today, the 30-year fixed mortgage rate for Lake Norden is approximately 6.941% (6.979% 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 Lake Norden?

The median home value in Lake Norden is $203k. The median monthly rent is $788. Annual property taxes average $2k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Lake Norden?

Home values in Lake Norden have increased 29.3% over the past two years. This indicates a strong appreciation trend. 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 Lake Norden?

Based on a typical all-in ownership cost of $955/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $41k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Lake Norden is $86k/year.

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What industries drive the economy in Lake Norden?

The largest employment sectors in Lake Norden 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.