South Dakota

Home prices in South Dakota and Sioux Falls: median value

Median owner-occupied home value: $289,600 in South Dakota and $332,600 in Sioux Falls (Census ACS 2024). FHFA: state prices up 1.1% in a year.

Checked on against the official sources listed at the bottom of the page.

In short

The median value of owner-occupied homes is $289,600 in South Dakota and $332,600 in the city of Sioux Falls, against $360,600 nationwide, according to the Census Bureau’s 2024 American Community Survey. The FHFA House Price Index shows South Dakota prices up 1.1% between the second quarters of 2025 and 2026, and the Sioux Falls metro area up 2.5% on FHFA’s all-transactions index.

What the median home value is

The Census Bureau’s American Community Survey (ACS) asks owners: “About how much do you think this house and lot, apartment, or mobile home (and lot, if owned) would sell for if it were for sale?” The median value in table B25077 is the middle answer among all owner-occupied homes in an area.

This is the owner’s own estimate. It is not a sale price, not an appraisal and not a list price. It covers every home that owners occupy, including homes bought decades ago, so it describes the existing stock rather than what buyers paid this year.

The latest one-year ACS estimates cover 2024. The Census Bureau plans to release the 2025 one-year estimates on October 29, 2026, so the figures below will change at that point.

What it costs: median value in 2024

AreaMedian value, 2024Margin of error (90%)
United States$360,600±$618
South Dakota$289,600±$6,421
Sioux Falls, SD-MN metro area$331,400±$9,429
Minnehaha County$325,300±$11,608
City of Sioux Falls$332,600±$12,235

Source: U.S. Census Bureau, ACS 1-Year Estimates 2024, table B25077, universe: owner-occupied housing units.

Three points stand out:

  • The South Dakota median is $71,000 below the national median.
  • The city of Sioux Falls sits $43,000 above the state median, but only about $28,000 below the national median.
  • The city, the county and the metro area are close to each other. The margins of error (±$9,400 to ±$12,200) are wider than the gaps between them, so the data do not show a clear difference. The true city median is very likely between about $320,400 and $344,800.

How prices have moved: the FHFA index

The ACS gives a level. To see the trend, the Federal Housing Finance Agency (FHFA) publishes a House Price Index built on repeat sales: it compares the prices of the same single-family homes each time they sell. FHFA’s flagship index uses seasonally adjusted, purchase-only data from mortgages bought or guaranteed by Fannie Mae and Freddie Mac.

The latest quarterly release, published August 25, 2026, covers the second quarter of 2026. FHFA’s purchase-only metro series covers only the 100 largest metro areas, and Sioux Falls is not one of them. For the metro area we use FHFA’s all-transactions index, which adds appraisal data and is not seasonally adjusted. Because we compare the same quarter in each year, seasonal swings cancel out, but the two series should not be compared with each other.

Area (index)1-year change (Q2 2025 to Q2 2026)5-year change (Q2 2021 to Q2 2026)
United States (purchase-only)+2.1%+33.4%
South Dakota (purchase-only)+1.1%+35.3%
United States (all-transactions)+3.0%+41.3%
South Dakota (all-transactions)+2.2%+41.1%
Sioux Falls, SD-MN metro (all-transactions)+2.5%+36.3%

Source: FHFA House Price Index, quarterly files for the U.S., states and metro areas. Changes calculated by Payotte from the published index values.

South Dakota prices rose more slowly than the nation’s over the past year on both series, but over five years the state kept pace with the nation on the purchase-only index (+35.3% against +33.4%). On the all-transactions index the Sioux Falls metro area rose less than the state over five years.

A worked example

Take a Sioux Falls-area home worth $300,000 in the second quarter of 2021. If it had followed the metro all-transactions index exactly, it would have been worth about $409,000 in the second quarter of 2026 (+36.3%). A single home can move very differently from the index: location, condition and renovations matter more than the average.

How to use these figures when buying

  • Use the ACS median for budgets and comparisons between places. It is the only measure here that gives a dollar level for the state, the county and the city with the same method.
  • Use the FHFA index for the direction of prices. It tells you whether prices in the area are rising or falling, not what a given home is worth.
  • For a specific home, look at recent sales and the appraisal. Your lender orders an appraisal before it approves the loan; see our guide to home appraisal costs.

Closing costs come on top of the price. Our South Dakota closing costs guide explains who pays what, and our page on buying a home in Sioux Falls applies these numbers to the city. First-time buyers can also check the South Dakota first-time buyer programs, which set purchase price limits well above these medians.

Method and dataset

ACS median value. U.S. Census Bureau, American Community Survey, 1-Year Estimates, vintage 2024 (released in 2025), table B25077 “Median Value (Dollars)”, variable B25077_001E with margin of error B25077_001M. Universe: owner-occupied housing units. Geographies: United States (0100000US), South Dakota (0400000US46), Sioux Falls, SD-MN metro area (310M700US43620), Minnehaha County (0500000US46099), Sioux Falls city (1600000US4659020). Values were read through the data.census.gov access API on October 13, 2026. The definition of value comes from the ACS 2024 Subject Definitions. The 2025 one-year estimates are scheduled for October 29, 2026.

FHFA indexes. Purchase-only, seasonally adjusted series: files hpi_po_state.txt (South Dakota) and hpi_po_us_and_census.txt (USA), release of August 25, 2026, data through the second quarter of 2026. Index values used: South Dakota 491.84 (Q2 2025), 367.65 (Q2 2021) and 497.33 (Q2 2026); United States 426.58, 326.58 and 435.69. All-transactions, not seasonally adjusted series: files hpi_at_metro.csv (Sioux Falls, SD-MN, CBSA 43620: 357.04, 268.33 and 365.85), hpi_at_state.csv (South Dakota: 628.65, 455.47 and 642.50) and hpi_at_us_and_census.csv (USA: 698.69, 509.50 and 719.87). Changes are the ratio of the Q2 2026 value to the earlier value, minus one. The U.S. purchase-only result (+2.1%) matches the figure in FHFA’s release. FHFA plans its next quarterly release, with third-quarter 2026 data, on November 24, 2026.

Frequently asked questions

What is the median home value in South Dakota?

The Census Bureau’s 2024 American Community Survey puts the median value of owner-occupied homes in South Dakota at $289,600, with a margin of error of ±$6,421. The national median is $360,600. These are owners’ own estimates, not sale prices.

What is the median home value in Sioux Falls?

For the city of Sioux Falls, the 2024 ACS median value is $332,600 (±$12,235). Minnehaha County is at $325,300 and the Sioux Falls, SD-MN metro area at $331,400.

Is the ACS median value the same as the median sale price?

No. The ACS asks owners what they think their home would sell for, and it includes every owner-occupied home, not only the ones sold this year. Sale prices of recent transactions can be higher or lower.

Are South Dakota home prices going up or down?

According to the FHFA purchase-only index, South Dakota prices rose 1.1% between the second quarter of 2025 and the second quarter of 2026. FHFA’s all-transactions index shows the Sioux Falls metro area up 2.5%. Over five years, the state rose 35.3% and the metro area 36.3%, on two different indexes.

When will these figures be updated?

The Census Bureau plans to release the 2025 one-year ACS estimates on October 29, 2026. FHFA’s next quarterly index, with third-quarter 2026 data, is scheduled for November 24, 2026.

Compare with the other states: Median home price by state.

More South Dakota guides

Sources

South Dakota · All states · Federal guides