Affordability evidence
Sioux Falls, SD home values, income, and owner costs
A borrower-focused reading of the latest ACS value, income, and owner-cost evidence for Sioux Falls, SD.
Source: U.S. Census Bureau
Last updated . Article facts reviewed through this date. Time-sensitive figures show their own as-of dates.
Start with the dated local finding: In Sioux Falls, SD, the 2024 ACS reports a median owner-occupied home value of $292,400, median household income of $75,970, and median selected monthly owner costs of $1,727 for owners with a mortgage. Together, those three reference points can still help a borrower identify which search-price, income, and recurring-cost assumptions need current verification first. They remain separate medians, not the finances of one representative household, and the $1,727 measure combines recurring ownership expenses in place of real estate taxes alone. For borrower planning, a useful affordability review starts with $292,400, $75,970, and $1,727, then replaces them with the borrower's documented income, cash, debts, property taxes, insurance, association charges, loan terms, and intended occupancy.
Sioux Falls, SD's $292,400 median home-value estimate is above the statewide $257,400 estimate, with a reported city-to-state gap of 13.6%. That 13.6% gap is useful for showing that a statewide midpoint may be a poor substitute for a local search range in Sioux Falls, SD.