Cost of Living: Richmond, VA vs Sioux Falls, SD (2026)

Richmond

Virginia
98
VS

Sioux Falls

South Dakota
78

Richmond is 26% more expensive than Sioux Falls.

$1,314/mo ↑ 32%
Median Rent
$993/mo ↓ 24%
$62,671/yr ↓ 16%
Median Income
$74,714/yr ↑ 19%
$328,100 ↑ 21%
Home Value
$271,400 ↓ 17%
$1,374/mo ↑ 22%
Owner Costs
$1,122/mo ↓ 18%
227,595
Population
197,642

Tax Comparison

5.75%
Income Tax
0%
5.3%
State Sales Tax
4.2%
0.8%
Property Tax
1.28%

Affordability

25.2%
rent-to-income
Affordability
15.9%
rent-to-income

Detailed Comparison

When comparing Richmond, VA and Sioux Falls, SD, the overall cost of living indices are 98 and 78 respectively (national median = 100). Rent is $321/month cheaper in Sioux Falls, saving renters about $3,852/year.

Median household income is $12,043/year higher in Sioux Falls. Home values also differ significantly — the median in Richmond is $328,100 compared to $271,400 in Sioux Falls.

South Dakota has no state income tax, giving Sioux Falls residents a significant tax advantage over Virginia's 5.75% rate.

Frequently Asked Questions

Richmond vs Sioux Falls — common questions

Is Richmond or Sioux Falls cheaper to live in?
Based on our cost index, Sioux Falls is cheaper to live in with an index of 78 compared to 98 (US average = 100).
What is the rent difference between Richmond and Sioux Falls?
Median rent in Richmond is $1,314/month and in Sioux Falls it's $993/month — a difference of $321/month.
Which city has higher income, Richmond or Sioux Falls?
Median household income is $62,671 in Richmond and $74,714 in Sioux Falls. Median household income is $12,043/year higher in Sioux Falls.
How do taxes compare between Virginia and South Dakota?
Virginia has 5.75% income tax, 5.3% sales tax, and 0.8% property tax. South Dakota has 0% income tax, 4.2% sales tax, and 1.28% property tax.
Should I move to Richmond or Sioux Falls?
It depends on your priorities. Richmond has a cost index of 98 with median rent of $1,314/mo, while Sioux Falls has a cost index of 78 with rent of $993/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
View Richmond details → View Sioux Falls details →

More Comparisons

Other cost of living comparisons for Richmond and Sioux Falls

Richmond vs. Fremont Richmond vs. Baton Rouge Richmond vs. Santa Clarita Richmond vs. Hialeah Richmond vs. Spokane Richmond vs. San Bernardino Sioux Falls vs. Grand Rapids Sioux Falls vs. Overland Park Sioux Falls vs. Montgomery Sioux Falls vs. Huntington Beach Sioux Falls vs. Grand Prairie Sioux Falls vs. Peoria