Sioux Falls, SD
Minnehaha County · Pop. 195,850
Ranked #57 of 243 cities
52Moderate
Median Home Price
🏠$280K
3.5% YoY
Median Rent
🔑$1,100
2.5% YoY
Median Income
💰$58K
Rent Burden
📊28.0%
% of income to rent
Income to Buy
🏦$81K
annual income needed
Income to Rent
📝$44K
annual income needed
Price-to-Income
⚖️4.8x
Homeownership
🏡60.0%
Rent vs. Buy
Buy
$1,490/mo
Est. mortgage (7%, 20% down)
Need $81K/yr income
Rent
$1,100/mo
Median rent
Need $44K/yr income
How Sioux Falls Compares
| Metric | Sioux Falls | South Dakota | National |
|---|---|---|---|
| Home Price | $280K | $268K | $410K |
| Rent | $1,100 | $921 | $1,500 |
| Income | $58K | $72K | $75K |
| Rent Burden | 28.0% | 26.5% | 30.0% |
Key Takeaways
- • Home prices in Sioux Falls are 32% lower than the national average.
- • Rent is 27% lower than the national average.
- • You need an income of $81K to comfortably buy a home here.
- • The homeownership rate is 60.0%, compared to 65.0% nationally.