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Perfect Pad
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home
Pierre offers a
wide array of housing options. You can choose to rent a trendy
apartment in a multiplex or a cozy loft downtown. For the first-time
homeowner, Pierre offers many styles and sizes of homes.
Should I RENT?
Currently there are over 50 rental housing units available in
Pierre. Examples of lease costs include:
1 bedroom/1 bath apartment Starting at $280/month
4 bedroom/1.5 bath condo Starting at $725/month
Most rental housing is located through the Pierre newspaper at
http://www.capjournal.com/classifieds/lease_rentals/
Or Should I OWN?
Currently there are 125 homes listed on the local Multiple Listing
service.
Of those, 29 are in the $85,000 to $150,000 range.
Home Ownership in Pierre & Ft. Pierre - A Brief History
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Over the past 12 months, 90 homes
sold in Pierre / Ft. Pierre in the $85,000 - $150,000 range
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Most of those homes were in the 900
to 1400 sq. ft. main floor size range, tending to be mid 1950’s
era with most having 2 – 3 bedrooms and a garage. Most of these
homes had a full basement and 1 – 2 bathrooms.
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Of those homes sold, the average
marketing time was about 78 days with homes typically selling
within about 94% of list price.
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During this same period of time,
there were 123 homes sold in Pierre / Ft. Pierre with the
average sale price being $140,500 having been on the market an
average of 79 days and selling at 96% of list price.
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Interest rates still remain favorable (around 6%) with programs available for first
time homebuyers offering fixed rates at 5.375% and step rates
starting at 4.375%. Income limits for first time homebuyers in a
family of 2 or less are $63,100 in Hughes County and $57,900 in
Stanley County. Purchase limits for first time buyers are
$204,432 on new construction and existing homes.
The South Dakota Housing Development Authority is right here in
Pierre to help you with buying your first home, down payment
assistance and homebuyer education.
Visit SDHDA.
An affordable tract home project is being planned. Check out some
of the floor plans in this planned neighborhood development.
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