Cost of Living in Sioux Falls, South Dakota
In Sioux Falls, the median household income is $75,970 and the median gross rent is $1,035/mo, with a median home value of $292,400. Source: Census Bureau ACS, 2020-2024 estimates.
- Median household income
- $75,970
- Median gross rent
- $1,035/mo
- Median home value
- $292,400
- Population
- 201,469
How Sioux Falls compares to the South Dakota average
| Measure | Sioux Falls, SD | South Dakota statewide | Difference |
|---|---|---|---|
| Median household income | $75,970 | $75,081 | +1.2% |
| Median gross rent (monthly) | $1,035 | $946 | +9.4% |
| Median home value | $292,400 | $257,400 | +13.6% |
Statewide, South Dakota prices average 88.6 on the BEA Regional Price Parity index (2024), where the U.S. average is 100.
Housing affordability in Sioux Falls
- Salary needed for median rent
- $41,400
- Rent burden at median income
- 16.3%
- Est. affordable home price
- $277,134
So that $1,035/mo is 30% of gross income
Share of the median household income spent on median rent (30%+ = cost-burdened)
At median income, 6.67% 30-yr rate (FRED, 2026-08), 20% down, 28% front-end DTI
The median home value in Sioux Falls is $292,400 — +5.5% above what the median household income supports under these assumptions.
Estimates from documented formulas — see methodology. Not financial advice.
About this data
- American Community Survey 5-Year Estimates — data period 2020-2024, retrieved August 13, 2026.
- Regional Price Parities — data period 2024, retrieved August 13, 2026.
- Federal Reserve Economic Data — data period 2026-08, retrieved August 13, 2026.
Figures are shown exactly as published by the source or derived by the documented formulas on our methodology page. Where a source suppresses an estimate, we show “—” rather than a substitute value.