In short
The median value of owner-occupied homes in the city of Sioux Falls is $332,600, according to the Census Bureau’s 2024 American Community Survey. FHFA’s all-transactions index shows prices in the Sioux Falls metro area up 2.5% between the second quarters of 2025 and 2026. The city offers repair loans to income-qualified owners and a property tax refund of up to $500 for eligible seniors and people with disabilities.
How much homes cost in Sioux Falls
The Census Bureau’s American Community Survey (ACS) asks owners how much they think their home would sell for. The median of those answers is a useful benchmark, but it is not a sale price: it covers every owner-occupied home, including homes bought long ago. Our page on South Dakota home prices explains the method in detail.
| Area | Median value, 2024 (ACS) | Margin of error (90%) |
|---|---|---|
| City of Sioux Falls | $332,600 | ±$12,235 |
| Minnehaha County | $325,300 | ±$11,608 |
| Sioux Falls, SD-MN metro area | $331,400 | ±$9,429 |
| South Dakota | $289,600 | ±$6,421 |
| United States | $360,600 | ±$618 |
Source: U.S. Census Bureau, ACS 1-Year Estimates 2024, table B25077. The 2025 estimates are scheduled for October 29, 2026.
Are Sioux Falls prices rising?
The Federal Housing Finance Agency (FHFA) tracks repeat sales of the same homes. Its purchase-only metro series covers only the 100 largest metro areas, which do not include Sioux Falls, so the figures below come from FHFA’s all-transactions index (not seasonally adjusted, same quarter each year), published August 25, 2026:
| Area | 1-year change (Q2 2025 to Q2 2026) | 5-year change (Q2 2021 to Q2 2026) |
|---|---|---|
| Sioux Falls, SD-MN metro area | +2.5% | +36.3% |
| South Dakota | +2.2% | +41.1% |
| United States | +3.0% | +41.3% |
Source: FHFA House Price Index, all-transactions quarterly files. Changes calculated by Payotte from the published index values.
Prices in the Sioux Falls area rose modestly over the past year, after a gain of more than a third over five years.
Closing costs at the median price
On top of the price, buyers and sellers pay closing costs: lender fees, the appraisal, recording fees and title insurance. Several of these depend on the loan and on the providers you choose, so there is no single official figure. Our guide to closing costs in South Dakota explains the rules and who usually pays each item, and our page on transfer tax in South Dakota covers the state’s tax on deeds.
Property tax in Sioux Falls
Property tax in the city depends on the assessed value and on the taxing units that cover your address. Our South Dakota property tax guide explains how the tax is calculated and how to appeal.
The city also runs a municipal property tax refund for eligible seniors and people with disabilities. According to the City of Sioux Falls:
- The refund is 100% of the municipal property tax, up to $500.
- You must be 65 or older, or have a disability as defined by the Social Security Act, and be approved for the state’s assessment freeze through Minnehaha or Lincoln County. You apply to the county, not the city, by April 1 each year.
- Income must be below $56,595 for a one-person household or $66,885 for a larger household, and the home must be owner-occupied.
- You must be current on property taxes, and the City Council must approve the program each year, so a refund is not guaranteed.
Help for buyers and owners
The City of Sioux Falls lists three homeowner programs for people with income at or below 80% of the area median: Single-Family Rehabilitation, Mobile Home Repair and Neighborhood Revitalization. The city’s table effective June 1, 2026 sets that level at $66,500 for one person and $94,950 for four. The Single-Family Rehabilitation program is a no-interest loan that you repay when you sell or stop living in the home; you must have owned the home for at least a year. For purchase help, see first-time buyer programs in South Dakota and South Dakota Housing’s limits for Minnehaha County.
South Dakota guides for Sioux Falls buyers
- Closing costs in South Dakota
- Property tax in South Dakota
- Seller disclosure in South Dakota
- Do you need a real estate attorney in South Dakota?
- Foreclosure in South Dakota
- First-time buyer programs in South Dakota
- Community property and buying a home
- How to verify a license in South Dakota
- The steps of buying a home
Frequently asked questions
What is the median home price in Sioux Falls?
The Census Bureau’s 2024 American Community Survey puts the median value of owner-occupied homes in the city of Sioux Falls at $332,600 (±$12,235). This is what owners think their home is worth, not the median sale price of recent sales.
Are home prices in Sioux Falls going down?
No. FHFA’s all-transactions index for the Sioux Falls metro area rose 2.5% between the second quarter of 2025 and the second quarter of 2026, and 36.3% over five years.
Does Sioux Falls have a property tax refund for seniors?
Yes. The city refunds up to $500 of municipal property tax to eligible owners aged 65 or older or with a disability, who must first be approved for the state’s assessment freeze through the county. The City Council approves the program each year.
Is the city median the same as the county median?
No. The Census Bureau’s 2024 figures list $332,600 for the city of Sioux Falls and $325,300 for Minnehaha County. The margins of error (±$12,235 and ±$11,608) are larger than the gap, so the two are statistically close.
Where can I find help buying a first home in Sioux Falls?
South Dakota Housing’s first-time buyer loans apply in Minnehaha County, with an income limit of $118,700 or $136,505 depending on household size. The city’s own programs fund repairs; see our first-time buyer page for details.
More South Dakota guides
- Closing costs in South Dakota: what buyers and sellers pay
- South Dakota real estate transfer fee: rate, who pays, exemptions
- South Dakota property tax: owner-occupied levy, appeals, dates
- Seller disclosure requirements in South Dakota
- Do you need a real estate attorney to close in South Dakota?
- How does foreclosure work in South Dakota?
- Home prices in South Dakota and Sioux Falls: median value
- First-time home buyer programs in South Dakota (Sioux Falls)
- How to verify a real estate license in South Dakota
- South Dakota is not a community property state: buying a home
Sources
- Table B25077, Median Value (Dollars), ACS 1-Year Estimates 2024 (U.S. Census Bureau) (consulted October 13, 2026)
- 2025 ACS Data Release Schedule (U.S. Census Bureau) (consulted October 13, 2026)
- U.S. House Prices Rise 2.1 Percent Year over Year, Up 0.3 Percent Quarter over Quarter (FHFA, August 25, 2026) (consulted October 13, 2026)
- FHFA House Price Index datasets, quarterly all-transactions indexes (metro) (consulted October 13, 2026)
- Housing Programs (City of Sioux Falls) (consulted October 13, 2026)
- Municipal Property Tax Refund for the Elderly and People with Disabilities (City of Sioux Falls) (consulted October 13, 2026)
- Single-Family Rehabilitation Program (City of Sioux Falls) (consulted October 13, 2026)