Getty Images
Homebuying has long been a couples’ game. According to recent data from National Association of Realtors®, 62% of homebuyers were married couples, compared with just 20% who were single women and only 8% who were single men.
But with shifting lifestyles and rising prices, a growing number of Americans are navigating homeownership on their own.
Yet buying a home on one income isn’t easy. Affording the mortgage, let alone building savings and budgeting for repairs, often feels out of reach. That’s why location matters so much—and why South Dakota is getting attention. Ranked No. 3 on a recent list of the most affordable states for solo homebuyers, the Mount Rushmore State offers a strong balance of affordability and livability.
A comfortable life with room to grow
South Dakota stands out for its relatively high housing costs—but also for the financial flexibility it still offers. The median-priced home comes in at $399,000, which is the highest on the top 10 list of affordable states for solo buyers. Still, with a monthly mortgage payment (excluding taxes and insurance) of $2,083, it remains accessible to single earners making at least $82,160 per year, according to SmartAsset’s recommended income threshold for living comfortably.
That income target follows the popular 50/30/20 rule—half for essentials, 30% for discretionary spending, and 20% for savings or debt payments. With these guidelines in mind, South Dakota offers solo homebuyers a way to maintain financial health while building equity and enjoying their space.
“Owning a home on one income may be feasible in affordable states in the Midwest and the South,” according to Realtor.com® economist Hannah Jones. South Dakota, known for its low taxes and strong job market, is a prime example of this.
Smart buying on a single income
Affordability is key, but solo buyers are also strategic. “Single home shoppers may have to compromise on the type or size of home, or the location, to achieve homeownership on just one income,” Jones added.
Real estate agents working with solo buyers say they’re typically focused, financially prepared, and looking for practical features. “They do want something smaller,” says Brooke Nelson, a real estate agent in nearby Missouri. “The single person that’s buying homes right now seems to be pretty responsible as far as their finances go… They do seem to have their ducks in a row”.
For many, that means skipping fixer-uppers and targeting low-maintenance homes with updated systems. It also means looking in areas with quality-of-life perks, like access to nature, safety, and good infrastructure—criteria South Dakota often meets.
Solid returns in a stable market
South Dakota’s housing market may not offer the lowest entry prices, but it does offer long-term value.
According to data from the National Association of Realtors®, 25.4% of homeowners in the state have built up more home equity than the IRS allows to be excluded from capital gains tax. Another 4.4% have passed the $500,000 threshold for married couples—potentially triggering one of the largest tax bills in real estate. That’s far lower than places like New York and California.
The latest national data shows many solo buyers are prioritizing homes they can grow into, rather than flip. As Nelson puts it, “Most of them are looking for something that’s a little smaller, three bedrooms and below, and not very expensive, something that’s manageable”.
That kind of stability makes South Dakota a wise bet for the long haul.
South Dakota may have higher home prices than some of its neighbors, but it more than makes up for it with a stable economy, manageable mortgage costs, and a lifestyle that supports solo living. For those earning around $82K and hoping to settle into a home of their own—without breaking the bank—it’s one of the best places to do it.
This article was produced with editorial input from Dina Sartore-Bodo, Gabriella Iannetta, and Allaire Conte.