Sioux Falls: Housing & Real Estate
Homes in Sioux Falls carry a median value of $292,400 (estimated market value runs 19% higher at $347,446), with median rent $1,035 (1.1× higher than Minnehaha County median $927; 1.2× higher than South Dakota median $874). Homeownership rate: 59.5%. That's 1.2× higher than the Minnehaha County median ($246,200); 1.4× higher than the South Dakota median ($212,207). Market is hot. Vacancy rate 4.9%. New construction makes up 23.2% of stock. 29 nursing facilities on file. A municipal building code is in effect.
- 3.8× annual income — home value vs. household income (vs South Dakota 2.8×).
- 23.5 years to break even renting at the median (vs South Dakota 20y).
- 4-BR rent is 2.2× a studio — rent gradient by unit size.
- Median rent 10% below HUD 2-BR FMR — local market vs federal subsidy benchmark.
Home Values & Rent
Median home value $292,400 — 1.4× the South Dakota median ($212,206). Median rent $1,035/month. homeownership rate 59.5% — below the U.S. share of ~65%.
| Affordability · Price To Income Ratio | 3.8× |
|---|---|
| Affordability · Rent To Income Pct | 16.3% |
| Affordability · Affordable | Yes |
| Affordability · Interpretation | affordable |
| Fair Market Rent · Studio rent | $865 |
| Fair Market Rent · One-bedroom rent | $986 |
| Fair Market Rent · Two-bedroom rent | $1,156 |
| Fair Market Rent · Three-bedroom rent | $1,586 |
| Fair Market Rent · Four-bedroom rent | $1,939 |
| Fair Market Rent · HUD FMR area | Sioux Falls, SD HUD Metro FMR Area |
| Fair Market Rent · Fiscal year | FY2026 |
| Home Value Estimate | $347,446 |
| Median Home Value | $292,400 (vs South Dakota $212,207) |
| Median Rent | $1,035 (vs South Dakota $874) |
Sources: HUD FMR FY2026 · Census ACS 5-Year 2023, B25077 · Census ACS 5-Year 2023 · Refreshed 2026-04-12
Tenure & Occupancy
Owner-occupied vs renter-occupied housing units, plus vacancy rates.
| Housing Market · Market temperature | hot |
|---|---|
| Housing Market · Vacancy rate | 4.9% |
| Housing Market · New construction (% of stock) | 23.2% |
| Housing Market · Price Appreciation 2Yr | 7.7% |
| Housing Orgs · Total count | 31 |
Sources: IRS BMF NTEE L
Utilities
Electricity, water, and broadband infrastructure serving residents. Broadband percentages reflect the share of premises that can subscribe to service at the listed speed (FCC Form 477).
Facilities (15)
Systems (5)
| Broadband · % of premises with 25/3 Mbps broadband | 100.0% |
|---|---|
| Broadband · % of premises with 100/20 Mbps broadband | 100.0% |
| Broadband · % of premises with 250/25 Mbps broadband | 100.0% |
| Broadband · % of premises with 1 Gbps / 100 Mbps broadband | 78.4% |
| Broadband · Broadband-capable premises | 98,831 |
| Electricity · Electricity rate (¢/kWh) | 12.86¢/kWh |
| Electricity · Customers | 433,548 |
| Electricity · Revenue Millions | $665 |
| Electricity · Year | 2024 |
| Mobile Broadband · 3G mobile coverage | 0% |
| Mobile Broadband · 4G mobile coverage | 100% |
| Mobile Broadband · 5G mobile coverage | 100% |
Sources: FCC BDC Jun 2025 · EIA Annual Retail Sales 2023 · FCC BDC Mobile 2024 · Refreshed 2026-04-12
Charging & Mobility
| Ev Charging · Stations | 32 |
|---|---|
| Ev Charging · Public Stations | 32 |
| Ev Charging · L2 Ports | 77 |
| Ev Charging · Dc Fast Ports | 38 |
Sources: DOE AFDC API
Other
| Homeownership Rate | 59.5% |
|---|---|
| Median Year Built | 1993 |
Sources: Census ACS 5-Year 2023 · Refreshed 2026-04-12