Market Overview
Home Prices in Elk Point, SD
The median home value in Elk Point, SD is $294,650 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 5.4% compared to a year ago and up 2.8% from two years prior.
Compared to the U.S. national median of $410,000, homes in Elk Point are priced28% below average. Elk Point is part of the Sioux City, IA-NE-SD metro area.
Over the past five years, Elk Point home values have risen by approximately25.4%, reflecting strong long-term appreciation in this market.
Price History
Elk Point Home Price Trend
City Comparison
Elk Point vs. National Median
At $294,650, homes in Elk Point cost 28% below the national median of $410,000. This makes Elk Point a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Elk Point?
20% Down Payment
$58,930
on $294,650
Monthly P&I
$1,537/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,952/mo
incl. taxes & insurance
Income Needed
$78,080
gross annual (30% rule)
10% Down Option
$29,465
+ PMI applies
Loan Amount (20% dn)
$235,720
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Elk Point, SD?
The median home value in Elk Point is $294,650 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 5.4% year-over-year.
How much have home prices changed in Elk Point?
Over the past year, home values in Elk Point have increased by 5.4%. Over five years, prices have risen approximately 25.4%.
How much do I need to earn to buy a home in Elk Point?
To comfortably afford the median home price of $294,650 with a 20% down payment ($58,930) at today's rates (6.8%), you'd need a gross annual income of approximately $78,080. This assumes keeping total housing costs at or below 30% of gross income.
How does Elk Point compare to the national average home price?
The national median home value is approximately $410,000. At $294,650, homes in Elk Point are 28% below the national average.
What metro area is Elk Point part of?
Elk Point is part of the Sioux City, IA-NE-SD metropolitan area. Home prices and market conditions can vary across the broader metro region.