South Dakota · Population 197,642 · Updated March 2026
How far your income goes in Sioux Falls
State-level tax rates that affect your costs
Sioux Falls is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 78 (where 100 equals the national median), Sioux Falls residents can expect to pay median rent of $993/month while earning a median household income of $74,714/year.
The median home value in Sioux Falls, SD is $271,400, with typical monthly owner costs around $1,122 including mortgage, insurance, and taxes. The median rent-to-income ratio of 15.9% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.
South Dakota has no state income tax, which can represent significant savings compared to high-tax states. Combined with a 4.2% sales tax rate and 1.28% effective property tax rate, the overall tax environment helps keep costs manageable in Sioux Falls.
Common questions about living costs in Sioux Falls
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