57363, Mount Vernon, SD

Home Equity and Home Prices in the 57363 Zip Code of Mount Vernon, SD

The 57363 zip code of Mount Vernon, SD has a median home value of $129,000. This is lower than the statewide median home value of $177,500. The majority of homes in this zip code are owned by individuals or families. The average age of homes in this zip code is around 40 years old. There are a few single-family homes located within this zip code but the majority are attached dwellings such as apartments or condos.

The average monthly mortgage payment for a home in this zip code is $1,078 which is higher than the statewide median mortgage payment of $917. However, because there are more detached dwellings within this zip code (approximately 55%) than attached dwellings (approximately 45%), the overall cost of housing is higher here than it is statewide.

Despite having a higher cost of housing relative to other areas in South Dakota, Mount Vernon still ranks as one of the most affordable places to live in the state according to data from Zillow . This may be due to its low population density and limited number of single-family homes available for purchase. Additionally, many residents here commute into Rapid City or Sioux Falls for work which may contribute to their high monthly mortgage payments.