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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



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 Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (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 202,078, 14,646 total housing units (homes and apartments), and a median house value of $322,314, Sioux Falls real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Sioux Falls, accounting for 50.68% of the city's housing units. Other types of housing that are prevalent in Sioux Falls include large apartment complexes or high rise apartments ( 24.33%), row houses and other attached homes ( 17.90%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 6.15%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Sioux Falls. Owner-occupied housing accounts for 66.48% of Sioux Falls's homes, and 49.72% have either three or four bedrooms, which is average sized relative to America.

Sioux Falls homes and real estate are some of the newest in America. 76.07% of Sioux Falls's housing was built since 2000, making the city have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Sioux Falls real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 21.51%), and between 1940-1969 ( 1.36%). There's also some housing in Sioux Falls built before 1939 ( 1.07%).

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 84.75%, which ranks in the top 50% nationwide. This equates to an annual average Sioux Falls house appreciation rate of 6.33%.

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 3.35%, 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 -1.16%, which equates to an annual appreciation rate of -4.54%.

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 90% 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

$322,314

Sioux Falls, SD Home Prices
> $1,303,000
$977,001 - $1,303,000
$651,001 - $977,000
$521,001 - $651,000
$391,001 - $521,000
$260,001 - $391,000
$130,001 - $260,000
$65,001 - $130,000
$0 - $65,000
1.7%
1.7%
1.5%
1.5%
6.8%
6.8%
8.7%
8.7%
15.4%
15.4%
32.6%
32.6%
24.1%
24.1%
4.0%
4.0%
5.2%
5.2%
0% 100.0%
% of Homes
Very High

for South dakota

High

for nation

Number of Homes And Apartments:

14,646

Sioux Falls Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,327 / per month

Homeownership Rate

Owners
Renters
66.5%
66.5%
33.5%
33.5%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
1.0%
1.0%
99.0%
99.0%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
76.1%
76.1%
21.5%
21.5%
1.4%
1.4%
1.1%
1.1%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
50.7%
50.7%
17.9%
17.9%
6.2%
6.2%
24.3%
24.3%
0.9%
0.9%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
0.8%
0.8%
10.4%
10.4%
23.5%
23.5%
28.7%
28.7%
21.1%
21.1%
15.6%
15.6%
0% 100.0%
% of Homes