Data through September 2026 · updated 2026-11-07 · free, from Zillow, Realtor.com, the Census Bureau and other public sources
Typical home value$338,663+1.1% YoY · prices are rising
Market right nowBalanced marketMore homes for sale than last year, 14% have cut their price
Income needed to buy, per year$73,415About 0.8× the local median income ($86,732): affordable for a typical household
Days on market53 daysAbout the same pace as a year ago
Next 12 months+3.0%Zillow expects prices to rise slightly
The typical home in Sioux Falls, SD-MN is worth $338,663, up 1.1% from a year ago. That is well above what local incomes have historically supported: fair value is about $301,322, so the area is 12.4% overvalued. It is a balanced market: homes take about 53 days to sell, listings are up 4% from a year ago, 14% of listings have had a price cut. Zillow expects prices to rise about 3.0% over the next year. A household needs about $73,415 a year to afford the typical home here at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $86,732. Typical rent is $1,265 a month, or $1,783 for a house. In the latest IRS figures, 1,747 more people moved in than out.
Home value over time
Solid: typical home value · dashed: fair value (household income × the 20-year average price-to-income ratio). Sources: FHFA, Zillow, U.S. Census Bureau.
Prices and affordability
Typical home value
$338,663
Change in 1 year
+1.1%
Overvalued %
+12.4%
Show 7 more
Fair home value
$301,322
Change in 5 years
+22.3%
Zillow forecast, next 12 months
+3.0%
Home value to income
3.9×
Monthly mortgage payment (20% down)
$1,835
Income needed to afford it
$73,415
Property tax rate
1.12%
Rent and investing
Typical rent
$1,265
Typical rent for houses
$1,783
Price-to-rent ratio
22.3×
Show 3 more
HUD Fair Market Rent, 2 bedrooms
$1,222
Gross rental yield
4.48%
Cap rate (estimate)
2.91%
Market activity
Listings vs a year ago
+4.4%
Days on market
53
Listings with a price cut
14.2%
Show 3 more
Homes for sale
1,461
Pending sales per 100 listings
31
Asking price per sq ft
$195
People and jobs
Median household income
$86,732
Population change (1 year)
+1.8%
Unemployment rate
2.3%
Show 4 more
Population
314,638
Income adjusted for cost of living
$95,731
Net moves in (IRS)
+1,747
Cost of living (US = 100)
90.6
Schools, risk and environment
School rating (1 to 10)
6.5
FEMA hazard risk score (0 to 100)
77.8
Unhealthy air days a year
4
Show 4 more
Flood risk score
74.0
Wildfire risk score
66.9
Walkability (1 to 20)
9.7
Road, rail and air noise
54 dB
Questions people ask
Is Sioux Falls, SD-MN overvalued?
Home prices in Sioux Falls, SD-MN are well above what local incomes have historically supported: fair value is about $301,322, so the area is 12.4% overvalued.
Is Sioux Falls, SD-MN a buyer's or seller's market?
Sioux Falls, SD-MN is a balanced market: homes take about 53 days to sell, listings are up 4% from a year ago, 14% of listings have had a price cut.
Are home prices going down in Sioux Falls, SD-MN?
Home values in Sioux Falls, SD-MN are up 1.1% over the last year. Zillow's forecast for the next 12 months is +3.0%.
How much do you need to earn to buy a home in Sioux Falls, SD-MN?
A household needs about $73,415 a year to afford the typical home in Sioux Falls, SD-MN at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $86,732.