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 (Census ACS 2024). On the FHFA index, 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 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: Census ACS 2024, table B25077; owners’ own estimates, not sale prices.

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

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. Tracking 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 differ widely from the index.

How to use these figures when buying

Closing costs come on top: our South Dakota closing costs guide covers who pays what, and buying a home in Sioux Falls applies these numbers to the city. Also see the South Dakota first-time buyer programs, which set purchase price limits well above these medians.

Method and dataset

ACS median value. ACS 1-Year 2024, table B25077. Geographies: United States (0100000US), South Dakota (0400000US46), Sioux Falls, SD-MN metro area (310M700US43620), Minnehaha County (0500000US46099), Sioux Falls city (1600000US4659020). Read through the data.census.gov API on October 13, 2026. The definition of value comes from the ACS 2024 Subject Definitions.

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?

South Dakota’s 2024 ACS median home value is $289,600 (±$6,421), against $360,600 for the nation: 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.

Are South Dakota home prices going up or down?

FHFA’s purchase-only index shows South Dakota prices rose 1.1% over the year to Q2 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.

How South Dakota compares with the other States

South Dakota ranks 32nd of 50 for median home value ($289,600), 20% below the national $360,600.

The States closest in median value are Wisconsin ($294,700) and Illinois ($280,700). The range runs from $170,800 in West Virginia to $875,900 in Hawaii; South Dakota is $49,900 below the middle of that ranking (Wyoming).

On the FHFA index, South Dakota prices rose 1.1% over the year to the second quarter of 2026, which places the State 35th of 50, 1 points behind the national +2.1%. Over five years the gain is +35.3% (31st of 50; nation +33.4%).

South Dakota sits in the middle of the pack on at least one of the two measures: 32nd for the level, 35th for the one-year change.

Over five years, South Dakota's +35.3% annualises to +6.2% a year (nation +5.9%). The latest year (+1.1%) is 5.1 points under that average, a slower pace than the five-year average.

Sioux Falls, the main city, has a median of $332,600, 29th of the 49 main cities Payotte covers. That is 15% above the South Dakota median, a premium that ranks 21st of 49.

The one-year FHFA change runs from -1.2% in New Mexico to +8.3% in Alaska. South Dakota (+1.1%) is 7.2 points below the top and 2.3 above the bottom; Utah (+1.1%) and Arkansas (+1.1%) are the nearest to it.

For scale, 20% of the South Dakota median is $57,920, against $72,120 at the national median.

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

More South Dakota guides

Sources

South Dakota · All states · Federal guides