Increased Income Guidelines Qualify More South Dakotans for Homeownership
FOR IMMEDIATE RELEASE
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 atwww.sdhousing.orgfor detailed information on income limits, interest rates, qualifications, and participating lenders. After reviewing the information, potential homeowners should contact a participating lender forpersonalized guidance based on their financial situation and for help navigating the steps to homeownership.
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About South Dakota Housing
South Dakota Housing Development Authority was created by the South Dakota Legislature in 1973 with a stated mission to provide opportunities for quality, affordable housing for South Dakotans. South Dakota Housing is a self-supporting, nonprofit entity known for our commitment for providing innovative financing solutions to create and preserve affordable housing. South Dakota Housing utilizes housing bonds, tax credits, and other federal and state resources to fund housing programs which provide mortgage and downpayment assistance, housing construction and rehabilitation, homelessness prevention, rental assistance, and educational opportunities.
For more information:
Chas Olson, Executive Director, SD Housing, 605.773.3181