Sioux Falls South Dakota Residential Rent and Rental Statistics
The median monthly gross residential rent in Sioux Falls, SD (the Sioux Falls metro area) was $851 in 2019 according to the Census ACS survey.1 Average gross rent in Sioux Falls was $882 in 2019. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2020 Sioux Falls median and average rent data will be released in September of 2021.
Data is also available below for Sioux Falls rental vacancy rates, Sioux Falls rent as a percent of median income and the fraction of renters in Sioux Falls.
Real Gross Rent in Sioux Falls South Dakota (2019 dollars)2
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $1,097 | +1.86% | +6.82% |
| South Dakota Median Gross Rent | $769 | +2.95% | +4.06% |
| Sioux Falls, SD Median Gross Rent | $851 | +2.41% | +2.78% |
Sioux Falls, SD Real Gross Rent Trends
At $851, real median gross rent in Sioux Falls was at its highest level in 2019 since the series began in 2005. At $882, real average gross rent in Sioux Falls was at its highest level in 2019 since the series began in 2005.
Real Gross Rent in Sioux Falls: Sioux Falls SD Median, Sioux Falls SD Average, South Dakota Median, US Median
Real Gross Rent History for Sioux Falls
| Date | US Median |
South Dakota Median |
Sioux Falls, SD Median |
Sioux Falls, SD Average |
|---|---|---|---|---|
| 2019 | $1,097 | $769 | $851 | $882 |
| 2018 | $1,077 | $747 | $831 | $866 |
| 2017 | $1,043 | $744 | $807 | $843 |
| 2016 | $1,027 | $739 | $828 | $860 |
| 2015 | $1,017 | $716 | $796 | $816 |
| 2014 | $986 | $683 | $750 | $783 |
| 2013 | $953 | $671 | $721 | $738 |
| 2012 | $940 | $693 | $764 | $760 |
| 2011 | $941 | $661 | $733 | $731 |
| 2010 | $955 | $660 | $730 | $761 |
| 2009 | $960 | $641 | $753 | $770 |
| 2007 | $927 | $618 | $734 | $771 |
| 2005 | $910 | $625 | $764 | $729 |
Sioux Falls Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2019 the rental vacancy rate for Sioux Falls South Dakota was 5.04% according to Census ACS data.
Rental Vacancy Rate in Sioux Falls South Dakota
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| South Dakota | 6.93% | -0.56% | +0.27% |
| Sioux Falls, SD | 5.04% | -3.09% | +0.26% |
Trends in Sioux Falls, SD Rental Vacancy Rate
The rental vacancy rate in Sioux Falls peaked in 2009 at 11.11%. Since then it has fallen by 6.07% to 5.04%. Data records for this series originated in 2005. From a 2013 post peak low of 3.67%, the rental vacancy rate has increased by 1.37%.
Rental Vacancy Rate: Sioux Falls SD, South Dakota, US
Historical Rental Vacancy Rate data for Sioux Falls
| Date | US | South Dakota | Sioux Falls, SD |
|---|---|---|---|
| 2019 | 5.97% | 6.93% | 5.04% |
| 2018 | 6.15% | 7.49% | 8.13% |
| 2017 | 6.18% | 6.35% | 6.93% |
| 2016 | 5.89% | 6.66% | 4.78% |
| 2015 | 5.85% | 5.16% | 5.80% |
| 2014 | 6.32% | 5.03% | 7.22% |
| 2013 | 6.49% | 4.17% | 3.67% |
| 2012 | 6.77% | 5.61% | 5.95% |
| 2011 | 7.40% | 7.40% | 6.05% |
| 2010 | 8.17% | 7.46% | — |
| 2009 | 8.43% | 6.35% | 11.11% |
| 2007 | 7.87% | 6.85% | 7.46% |
| 2005 | 7.74% | 6.24% | 6.46% |
Rent as a Fraction of Income
Using median household income data for Sioux Falls, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Sioux Falls, median monthly gross rent as a fraction of median household income was 15.58% in 2019 according to the ACS.
Sioux Falls South Dakota Median Annual Rent as a Fraction of Median Household Income
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.03% | -0.47% | -0.40% |
| South Dakota | 15.50% | -0.15% | -0.05% |
| Sioux Falls, SD | 15.58% | -0.43% | +0.73% |
Trends in Sioux Falls, SD Rent as a Fraction of Income
The fraction of median Sioux Falls household income required to pay median monthly gross rent peaked in 2012 (relative to the 2005 series origin) at 16.65%. Since then it has fallen by 1.08% to 15.58%.
Fraction of Income towards Rent: Sioux Falls SD, South Dakota, US
Historical Data for Annual Rent as a Fraction of Income in Sioux Falls South Dakota
| Date | US | South Dakota | Sioux Falls, SD |
|---|---|---|---|
| 2019 | 20.03% | 15.50% | 15.58% |
| 2018 | 20.50% | 15.65% | 16.00% |
| 2017 | 20.13% | 15.33% | 14.48% |
| 2016 | 20.43% | 15.55% | 14.85% |
| 2015 | 20.63% | 15.28% | 15.04% |
| 2014 | 20.89% | 15.23% | 14.48% |
| 2013 | 20.78% | 15.62% | 14.69% |
| 2012 | 20.65% | 16.15% | 16.65% |
| 2011 | 20.70% | 15.20% | 14.65% |
| 2010 | 20.50% | 15.45% | 15.05% |
| 2009 | 20.12% | 14.97% | 15.71% |
| 2007 | 18.66% | 14.54% | 14.91% |
| 2005 | 18.89% | 14.88% | 15.77% |
Renter Fraction in Sioux Falls South Dakota
You can calculate the renter fraction in Sioux Falls in at least two ways: by housing units or by population. I've gone with the housing units measure here. This measure looks at the number of renting households in Sioux Falls as a fraction of total Sioux Falls households. In 2019 34.67% of households were renters according to Census ACS data.
Sioux Falls Fraction of Renters by Household Units
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 35.89% | -0.16% | -0.99% |
| South Dakota | 32.18% | +0.06% | -0.62% |
| Sioux Falls, SD | 34.67% | +1.71% | +1.83% |
Trends in the Sioux Falls, SD Renter Fraction
The Sioux Falls household renter fraction peaked in in 2012 at 35.35% and is now 0.68% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Sioux Falls SD, South Dakota, US
History of Sioux Falls Renter Fraction
| Date | US | South Dakota | Sioux Falls, SD |
|---|---|---|---|
| 2019 | 35.89% | 32.18% | 34.67% |
| 2018 | 36.05% | 32.12% | 32.96% |
| 2017 | 36.13% | 32.29% | 32.42% |
| 2016 | 36.88% | 32.80% | 32.84% |
| 2015 | 36.97% | 31.81% | 32.36% |
| 2014 | 36.90% | 31.83% | 32.84% |
| 2013 | 36.50% | 32.77% | 31.95% |
| 2012 | 36.09% | 32.91% | 35.35% |
| 2011 | 35.42% | 31.51% | 32.28% |
| 2010 | 34.65% | 32.02% | 32.95% |
| 2009 | 34.13% | 32.09% | 31.29% |
| 2007 | 32.80% | 31.92% | 31.42% |
| 2005 | 33.10% | 30.96% | 30.64% |
1. Gross rent is defined as contract rent plus the estimated average monthly cost of utilities (electricity, gas, water, and sewer) and fuel (oil, coal, kerosene, wood, etc.). Because some rentals include utilities and others don't, gross rent is a way of normalizing the variability. ↩
2. Real dollars are calculated using the CPI-U less shelter series. ↩
3. The rental vacancy rate is computed by dividing the number of vacant units for rent by the sum of the renter-occupied units, vacant units that are for rent, and vacant units that have been rented but not yet occupied. ↩
Department of Numbers
The Department of Numbers contextualizes public data so that individuals can form independent opinions on everyday social and economic matters.
Here's where you are
- Home
- / Rent
- / South Dakota
- / Sioux Falls
