Sioux Falls, SD—57107
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 $320,000, with a year-over-year change of 0.0%. This indicates that home prices in Sioux Falls, SD are flat. According to Zillow, the 1-year price projection is 1.5%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $320,000 | 0.0% |
| Single Family | $328,000 | 0.0% |
| Condos | $200,000 | -2.0% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $256,000 | -1.5% |
3 Bed | $316,000 | -0.3% |
4 Bed | $353,000 | -0.3% |
| 5 Bed | $573,000 | 2.5% |
% of Housing Stock
Rental Trends — Sioux Falls, SD
As of July '25, Rentcast reports the average rent in Sioux Falls, SD is $1,720, with a year-over-year rent change of -1.1%. Per bedroom, the median rent as of July '25 in Sioux Falls, SD is studios: $864, 1-bedrooms: $872, 2-bedrooms: $1,310, 3-bedrooms: $1,940. The most common rental property sizes in Sioux Falls, SD are 3-bedroom and 1-bedroom, accounting for 39.3% and 26.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,800 | $1,720 |
| Studio Rent | $875 | $864 |
| 1 Bed Rent | $835 | $872 |
| 2 Bed Rent | $1,250 | $1,310 |
| 3 Bed Rent | $1,820 | $1,940 |
| 4 Bed Rent | N/A | N/A |
% 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 68. This is a increase of 5.0% 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 21.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $358,000 | -4.0% |
Listing Count | 115 | 1.0% |
| Listings as % of Homes | 1.0% | 1.0% |
Days on Market | 68 | 5.0% |
Demographics — Sioux Falls, SD
As of the latest ACS Survey released in 2023, Sioux Falls, SD has a population of 11,700, which has increased by 15.4% over the past 5 years. Sioux Falls, SD is a popular place for families, as children make up 25.3% of the population. The area has a moderately educated workforce, with 29.8% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 11,700 | 15.4% |
% Under 18 | 25.3% | 1.2% |
% Seniors | 10.8% | 22.7% |
% WFH | 9.7% | 115.6% |
% w/ College Degree | 29.8% | 11.2% |
As of the latest ACS Survey released in 2023, Sioux Falls, SD is a predominantly white area, with 70.2% of the population identifying as white. The white population has shrunk by 15.5% in the last 5 years. The second most common race or ethnicity in Sioux Falls, SD is hispanic, making up 14.9% of the population. Foreign-born residents account for 10.7% of the population in Sioux Falls, SD, and this percentage has increased by 4.9% 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 | 70.2% | -15.5% |
% Black | 9.9% | 182.9% |
% Hispanic | 14.9% | 81.7% |
% Asian | 2.3% | 35.3% |
% Foreign Born | 10.7% | 4.9% |
Mortgage and Risk — Sioux Falls, SD
According to HUD data as of 2023, there were 192 mortgage originations in Sioux Falls, SD, of which 76.0% of loans were conventional mortgages. The average loan-to-value was 63.0%, with 29.0% 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. 13.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 192 |
% Conventional Loans | 76.0% |
% Government Loans | 24.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 13.0% |
Loan Activity
Rentals and Section 8 — Sioux Falls, SD
Sioux Falls, SD lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 107 |
Total Units Section 8 | 107 |
% Rentals under Section 8 | 7.2% |
% Occupied Section 8 | 88.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $95 | $835 | $930 |
| 2 Bedroom | -$160 | $1,250 | $1,090 |
| 3 Bedroom | -$330 | $1,820 | $1,490 |
| 4 Bedroom | N/A | N/A | $1,830 |
Affordability — Sioux Falls, SD
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4 |
| Median Home Price | $320,000 |
| Median Household Income | $76,700 |