Sioux Falls, SD—57103
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Sioux Falls, SD
As of Oct '25, the median home price in Sioux Falls, SD is $284,000, with a year-over-year change of 0.6%. This indicates that home prices in Sioux Falls, SD are flat. According to Zillow, the 1-year price projection is 1.3%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $284,000 | 0.6% |
| Single Family | $286,000 | 0.4% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $137,000 | 0.7% |
2 Bed | $206,000 | 1.0% |
3 Bed | $265,000 | 0.8% |
4 Bed | $351,000 | 0.6% |
| 5 Bed | $474,000 | 0.4% |
% of Housing Stock
Rental Trends — Sioux Falls, SD
As of July '25, Rentcast reports the average rent in Sioux Falls, SD is $1,540, with a year-over-year rent change of -20.6%. Per bedroom, the median rent as of July '25 in Sioux Falls, SD is studios: $1,290, 1-bedrooms: $1,340, 2-bedrooms: $1,640, 3-bedrooms: $2,310, 4-bedrooms: $2,030. The most common rental property sizes in Sioux Falls, SD are 2-bedroom and 1-bedroom, accounting for 52.1% and 24.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,480 | $1,540 |
| Studio Rent | $1,250 | $1,290 |
| 1 Bed Rent | $1,480 | $1,340 |
| 2 Bed Rent | $1,300 | $1,640 |
| 3 Bed Rent | $1,550 | $2,310 |
| 4 Bed Rent | $2,000 | $2,030 |
% of Rental Stock
Property Listings — Sioux Falls, SD
As of Oct '25, Realtor.com reports that the median days on market for a home in Sioux Falls, SD is 35. This is a increase of 39.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 20.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $309,000 | 1.0% |
Listing Count | 137 | 14.0% |
| Listings as % of Homes | 0.5% | 14.0% |
Days on Market | 35 | 39.0% |
Demographics — Sioux Falls, SD
As of the latest ACS Survey released in 2023, Sioux Falls, SD has a population of 35,300, which has decreased by -2.1% over the past 5 years. Sioux Falls, SD is a popular place for families, as children make up 26.9% of the population. The area has a moderately educated workforce, with 33.4% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 35,300 | -2.1% |
% Under 18 | 26.9% | 6.3% |
% Seniors | 15.3% | 21.4% |
% WFH | 7.8% | 169.0% |
% w/ College Degree | 33.4% | 18.9% |
As of the latest ACS Survey released in 2023, Sioux Falls, SD is a predominantly white area, with 72.9% of the population identifying as white. The white population has shrunk by 3.2% in the last 5 years. The second most common race or ethnicity in Sioux Falls, SD is black, making up 10.1% of the population. Foreign-born residents account for 10.5% of the population in Sioux Falls, SD, and this percentage has decreased by 24.5% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 72.9% | -3.2% |
% Black | 10.1% | -10.6% |
% Hispanic | 7.0% | 18.6% |
% Asian | 2.2% | -35.3% |
% Foreign Born | 10.5% | -24.5% |
Mortgage and Risk — Sioux Falls, SD
According to HUD data as of 2023, there were 740 mortgage originations in Sioux Falls, SD, of which 77.0% of loans were conventional mortgages. The average loan-to-value was 65.0%, with 32.0% above 90% LTV (very high). This implies large mortgage risk in Sioux Falls, SD. Investor activity is low, as 2.0% of loans were by investors. 18.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 740 |
% Conventional Loans | 77.0% |
% Government Loans | 23.0% |
% Investor Loans | 2.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 18.0% |
Loan Activity
Rentals and Section 8 — Sioux Falls, SD
As of 2024, the percent of homes in Sioux Falls, SD under the Section 8 program is 15.7%. This is considered high, suggesting that the neighborhood is heavily composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Sioux Falls, SD, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.
Section 8 Market Size
Total Units under HUD | 768 |
Total Units Section 8 | 728 |
% Rentals under Section 8 | 15.7% |
% Occupied Section 8 | 87.2% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$640 | $1,480 | $840 |
| 2 Bedroom | -$320 | $1,300 | $980 |
| 3 Bedroom | -$210 | $1,550 | $1,340 |
| 4 Bedroom | -$350 | $2,000 | $1,650 |
Affordability — Sioux Falls, SD
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.6 |
| Median Home Price | $284,000 |
| Median Household Income | $73,900 |