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A little money buys a lot of house in Howard.
Nationally more and more families feel pinched by escalating home costs. Some have decided the only way they’ll afford a home is to sacrifice an unreasonable percentage of their family income. By contrast in Howard, families spend a lower percentage of income on housing.
Todd and Brenda Glanzer are examples. Until recently they lived in the Black Hills. It made no financial sense, they decided, to seek a big Rapid City home for themselves and their four children. For a fraction of the cost of Black Hills houses they could buy most any home in Howard and customize it to their exact needs. “We’re making about what we did in Rapid City,” notes Brenda, “but we’re better off financially because the cost of living is better.”
Here’s what homebuyers might expect currently in Howard: an average three-bedroom house with a double garage sells for under $75,000. A newer home, 20 or 25 years old, would likely sell for about $110,000.
Dave and Deb Dalton are longtime Howard residents whose lives changed thanks to an innovative, income-based state project called the Governor's House Program. Health problems made it difficult for the couple to maintain their older, five-bedroom house. "We used to drive through the newer part of town and I'd think, wouldn't it be great to live in one of those homes, with everything on one level," Deb recalls. In 2007, the Daltons bought a brand new, two-bedroom, and two-car garage for $75,000 and qualified for a USDA Rural Development loan that reduces the interest rate on the loan." Click here to learn more about the Governor's House Program.
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