Sioux Falls, SD—57105
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 $283,000, with a year-over-year change of 1.8%. This indicates that home prices in Sioux Falls, SD are increasing. 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 | $283,000 | 1.8% |
| Single Family | $284,000 | 1.4% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $147,000 | -3.3% |
2 Bed | $224,000 | 2.3% |
3 Bed | $278,000 | 1.5% |
4 Bed | $341,000 | 1.8% |
| 5 Bed | $448,000 | 2.3% |
% of Housing Stock
Rental Trends — Sioux Falls, SD
As of July '25, Rentcast reports the average rent in Sioux Falls, SD is $1,470, with a year-over-year rent change of 9.7%. Per bedroom, the median rent as of July '25 in Sioux Falls, SD is studios: $612, 1-bedrooms: $1,070, 2-bedrooms: $1,160, 3-bedrooms: $1,580, 4-bedrooms: $2,050. The most common rental property sizes in Sioux Falls, SD are 2-bedroom and 1-bedroom, accounting for 55.3% and 18.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,340 | $1,470 |
| Studio Rent | $620 | $612 |
| 1 Bed Rent | $891 | $1,070 |
| 2 Bed Rent | $975 | $1,160 |
| 3 Bed Rent | $1,500 | $1,580 |
| 4 Bed Rent | $1,800 | $2,050 |
% 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 37. This is a increase of 34.0% 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 25.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $316,000 | 0.0% |
Listing Count | 126 | 39.0% |
| Listings as % of Homes | 0.5% | 39.0% |
Days on Market | 37 | 34.0% |
Demographics — Sioux Falls, SD
As of the latest ACS Survey released in 2023, Sioux Falls, SD has a population of 22,800, which has increased by 1.2% over the past 5 years. Sioux Falls, SD is a moderately popular place for families, as children make up 20.3% of the population. The area has a moderately educated workforce, with 43.7% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 22,800 | 1.2% |
% Under 18 | 20.3% | 0.0% |
% Seniors | 16.3% | 0.0% |
% WFH | 9.4% | 168.6% |
% w/ College Degree | 43.7% | 6.3% |
As of the latest ACS Survey released in 2023, Sioux Falls, SD is a predominantly white area, with 85.6% of the population identifying as white. The white population has shrunk by 2.7% in the last 5 years. The second most common race or ethnicity in Sioux Falls, SD is black, making up 3.8% of the population. Foreign-born residents account for 3.5% of the population in Sioux Falls, SD, and this percentage has increased by 59.1% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 85.6% | -2.7% |
% Black | 3.8% | 2.7% |
% Hispanic | 2.6% | -13.3% |
% Asian | 1.9% | 72.7% |
% Foreign Born | 3.5% | 59.1% |
Mortgage and Risk — Sioux Falls, SD
According to HUD data as of 2023, there were 441 mortgage originations in Sioux Falls, SD, of which 80.0% of loans were conventional mortgages. The average loan-to-value was 66.0%, with 33.0% above 90% LTV (very high). This implies large mortgage risk in Sioux Falls, SD. Investor activity is low, as 4.0% of loans were by investors. 13.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 441 |
% Conventional Loans | 80.0% |
% Government Loans | 20.0% |
% Investor Loans | 4.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 13.0% |
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 10.0%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 2-bedroom units appear to be good home sizes to consider for Section 8 housing in Sioux Falls, SD, because HUD payments exceed market rent, while 1-bedroom and 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 293 |
Total Units Section 8 | 293 |
% Rentals under Section 8 | 10.0% |
% Occupied Section 8 | 91.2% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$21 | $891 | $870 |
| 2 Bedroom | $35 | $975 | $1,010 |
| 3 Bedroom | -$120 | $1,500 | $1,380 |
| 4 Bedroom | -$100 | $1,800 | $1,700 |
Affordability — Sioux Falls, SD
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.5 |
| Median Home Price | $283,000 |
| Median Household Income | $74,100 |