Quick facts: Sioux falls, SD

Quick Facts

98.4
Cost of Living
below US average
202,078
Population
35.9
Crime Rate per 1000
above US average
$71,785
Median Income
below US average
$249,900
Median House Price
above US average
$1173.74
Average Rent
below US average
11%
Poverty Rate
above US average
2.0%
Unemployment Rate
below US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $71,785.

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Income Needed to Buy

βœ— Stretch
$78k/year
Based on $249,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $78k vs median $71,785
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Income Needed to Rent

βœ“ Affordable
$50k/year
Based on $1173.74/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($71,785) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Sioux falls, SD

Sioux Falls, located in southeastern South Dakota, is the largest city in the state and serves as a regional hub for healthcare, finance, and retail. Known for its picturesque natural beauty, the city is named after the Sioux Tribe and the stunning waterfalls along the Big Sioux River, which become a focal point in Falls Park, a downtown green space featuring walking trails and lovely picnic areas. With a diverse economy, Sioux Falls boasts a low unemployment rate and a growing population, making it an attractive place for newcomers. The city is home to several major companies in sectors such as healthcare, banking, and manufacturing, contributing to its stable job market. Culturally, Sioux Falls offers a variety of attractions, including art galleries, theaters, and music festivals. The annual Sioux Falls JazzFest and the Sioux Empire Fair are highlights for locals and visitors alike. Sports enthusiasts can enjoy a range of activities, from local minor league teams to nearby outdoor recreation, including hiking, biking, and fishing in the surrounding areas. Overall, Sioux Falls combines the charm of a small town with the amenities of a larger city, making it a great place to live, work, and play.

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