Sioux Falls, SD—57106
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 $325,000, with a year-over-year change of 1.6%. This indicates that home prices in Sioux Falls, SD are increasing. According to Zillow, the 1-year price projection is 1.4%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $325,000 | 1.6% |
| Single Family | $329,000 | 1.5% |
| Condos | $192,000 | 2.7% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $258,000 | 2.4% |
3 Bed | $307,000 | 1.7% |
4 Bed | $353,000 | 1.4% |
| 5 Bed | $474,000 | 0.2% |
% of Housing Stock
Rental Trends — Sioux Falls, SD
As of July '25, Rentcast reports the average rent in Sioux Falls, SD is $1,400, with a year-over-year rent change of -4.1%. Per bedroom, the median rent as of July '25 in Sioux Falls, SD is studios: $830, 1-bedrooms: $875, 2-bedrooms: $1,030, 3-bedrooms: $1,760, 4-bedrooms: $2,220. The most common rental property sizes in Sioux Falls, SD are 2-bedroom and 1-bedroom, accounting for 47.4% and 29.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,250 | $1,400 |
| Studio Rent | $600 | $830 |
| 1 Bed Rent | $825 | $875 |
| 2 Bed Rent | $975 | $1,030 |
| 3 Bed Rent | $1,850 | $1,760 |
| 4 Bed Rent | $2,240 | $2,220 |
% 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 46. This is a increase of 15.0% 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 13.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $331,000 | -6.0% |
Listing Count | 257 | 11.0% |
| Listings as % of Homes | 0.6% | 11.0% |
Days on Market | 46 | 15.0% |
Demographics — Sioux Falls, SD
As of the latest ACS Survey released in 2023, Sioux Falls, SD has a population of 51,800, which has increased by 11.5% over the past 5 years. Sioux Falls, SD is a popular place for families, as children make up 27.2% of the population. The area has a moderately educated workforce, with 34.5% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 10.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 51,800 | 11.5% |
% Under 18 | 27.2% | 3.0% |
% Seniors | 11.6% | 1.8% |
% WFH | 10.8% | 500.0% |
% w/ College Degree | 34.5% | -5.7% |
As of the latest ACS Survey released in 2023, Sioux Falls, SD is a predominantly white area, with 80.9% 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 hispanic, making up 7.5% of the population. Foreign-born residents account for 7.1% of the population in Sioux Falls, SD, and this percentage has increased by 34.0% 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 | 80.9% | -3.2% |
% Black | 5.5% | 103.7% |
% Hispanic | 7.5% | 19.0% |
% Asian | 1.4% | -26.3% |
% Foreign Born | 7.1% | 34.0% |
Mortgage and Risk — Sioux Falls, SD
According to HUD data as of 2023, there were 943 mortgage originations in Sioux Falls, SD, of which 78.0% of loans were conventional mortgages. The average loan-to-value was 63.0%, with 30.0% above 90% LTV (very high). This implies large mortgage risk in Sioux Falls, SD. Investor activity is low, as 1.0% of loans were by investors. 17.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 943 |
% Conventional Loans | 78.0% |
% Government Loans | 22.0% |
% Investor Loans | 1.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 17.0% |
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 7.4%. 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. 1-bedroom and 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 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 761 |
Total Units Section 8 | 663 |
% Rentals under Section 8 | 7.4% |
% Occupied Section 8 | 90.8% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $85 | $825 | $910 |
| 2 Bedroom | $85 | $975 | $1,060 |
| 3 Bedroom | -$400 | $1,850 | $1,450 |
| 4 Bedroom | -$460 | $2,240 | $1,780 |
Affordability — Sioux Falls, SD
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.9 |
| Median Home Price | $325,000 |
| Median Household Income | $77,100 |