PIERRE, S.D. – Exciting news for aspiring homeowners in South Dakota! With the recent increase in federal income guidelines, more residents will qualify for homeownership.
SD Housing’s Executive Director Chas Olson announced that the state median income increased by more than $7,000, reaching an impressive $102,200.
This significant increase in income limits opens the door for a greater number of individuals to qualify for SD Housing’s First-time Homebuyer and Governor’s House programs and should have a positive impact on the housing market.
Now is the perfect time to explore these programs and take the first step towards homeownership.
Income limits vary by county and go into effect on April 30, 2025. For those interested in looking into homeownership in South Dakota, check out the South Dakota Housing website at www.sdhousing.org for detailed information on income limits, interest rates, qualifications, and participating lenders.
After reviewing the information, potential homeowners should contact a participating lender for personalized guidance based on their financial situation and for help navigating the steps to homeownership.
