Sioux Falls, SD Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Sioux Falls, SD Housing Market Trends

With a population of 183,793, 72,291 total housing units (homes and apartments), and a median house value of $215,932, Sioux Falls real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Sioux Falls, accounting for 55.45% of the city's housing units. Other types of housing that are prevalent in Sioux Falls include large apartment complexes or high rise apartments ( 27.87%), row houses and other attached homes ( 6.63%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 6.00%).

The most prevalent building size and type in Sioux Falls are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 58.57% owning and 41.43% renting.

There is a lot of housing in Sioux Falls built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Sioux Falls built between 2000 and later ( 31.66%). A lesser amount of the housing stock also hails from between 1940-1969 ( 20.22%). There's also some housing in Sioux Falls built before 1939 ( 8.63%).

Sioux Falls Home Appreciation Rates

Appreciation rates for homes in Sioux Falls have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 48.02%, which ranks in the top 40% nationwide. This equates to an annual average Sioux Falls house appreciation rate of 4.00%.

Over the last year, Sioux Falls appreciation rates have trailed the rest of the nation. In the last twelve months, Sioux Falls's appreciation rate has been 7.15%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Sioux Falls were at 1.30%, which equates to an annual appreciation rate of 5.31%.

Notably, Sioux Falls's appreciation rate in the latest quarter is one of the lowest in America.

Relative to South Dakota, our data show that Sioux Falls's latest annual appreciation rate is lower than 60% of the other cities and towns in South Dakota.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Sioux Falls differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Sioux Falls - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Sioux Falls real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$215,932

Sioux Falls, SD HOME PRICES

> $1,219,000
0.6%
0.6%
$915,001 - $1,219,000
0.8%
0.8%
$610,001 - $915,000
2.2%
2.2%
$488,001 - $610,000
2.8%
2.8%
$366,001 - $488,000
8.0%
8.0%
$244,001 - $366,000
23.5%
23.5%
$122,001 - $244,000
46.2%
46.2%
$61,001 - $122,000
9.1%
9.1%
$0 - $61,000
6.8%
6.8%
0.0% 100.0%
% OF HOMES
Value Relative To State

Average for Nation

High for SD

Value Relative To Nation

Number Of Homes And Apartments:
72,291

Sioux Falls Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
SD*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
80.84% 2.79%
1
5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,108 / per month

Homeownership Rate

Owners
58.6%
58.6%
Renters
41.4%
41.4%
Vacant
5.8%
5.8%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
31.7%
31.7%
1970 - 1999
39.5%
39.5%
1940 - 1969
20.2%
20.2%
1939 or Older
8.6%
8.6%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
55.5%
55.5%
Townhomes
6.6%
6.6%
Small Apt. Buildings
6.0%
6.0%
Apt. Complexes
27.9%
27.9%
Mobile Homes
4.0%
4.0%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
2.7%
2.7%
1 Bedroom
11.8%
11.8%
2 Bedrooms
31.0%
31.0%
3 Bedrooms
28.1%
28.1%
4 Bedrooms
18.2%
18.2%
5 or more bedrooms
8.3%
8.3%
0.0% 100.0%
% OF HOMES