Rents are 4% below what Sioux Falls's 10-year trend predicts — a better deal than its own history suggests.
Rent by unit size
These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $1,279 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.
Source: HUD Small Area Fair Market Rents. Read the methodology →
12-month history
Last updated: October 17, 2026
What the numbers show
January. Asking rents in Sioux Falls usually run 0.9% below trend in January and 0.6% above it in July, about $19 a month apart at today's median. Based on 10 years of data.
Rent in Sioux Falls is at its highest level since Zillow's records here began in March 2016.
From 2019 to 2024, rent in Sioux Falls rose 33.1% while median household income rose 26.8% ($59,912 to $75,970). Rent outpaced income.
Rent in Sioux Falls is 36.5% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.
Rent has risen 9 months in a row, and rose in 11 of the last 12 months.
30% of the median household income ($75,970) is $1,899 a month. That covers HUD's Fair Market Rent for up to a 4-bedroom ($1,806).
The priciest of 7 ZIP codes in Sioux Falls, 57103 ($1,481/mo), costs 37% more than the cheapest, 57105 ($1,081/mo).
From Zillow's monthly rent index (ZORI) for Sioux Falls. The seasonal pattern compares Zillow’s seasonally adjusted and unadjusted series. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
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Who lives here
Sioux Falls, SD is majority owner-occupied, 38.1% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Sioux Falls, SD has changed in 5 years
Rent in Sioux Falls, SD has increased 29.7% since 2021, going from about $986 per month to roughly $1,279 today. Local incomes tracked alongside that move, going from a median of $66,761 in 2021 to $75,970 more recently. Rent outpaced income growth by roughly 15.9 percentage points, which means renters are spending a larger slice of each paycheck on housing than they did in 2021. Headcount in the area went from 189,258 to 201,469 between 2021 and 2024, a 6.5% change. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher climbed from 36% to 38.1%. These shifts give renters and would-be renters a longer baseline for sizing up today's listings against the Sioux Falls, SD market of 2021.
Discussions about Sioux Falls
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Can you afford rent in Sioux Falls on your salary?
At $1,279/mo, how Sioux Falls rent compares to typical pay (30% rule).
Sioux Falls rent by bedroom count
Median rent for each apartment size in Sioux Falls. Click any size for full breakdown.
Tips for renters in Sioux Falls
Last updated: October 17, 2026
The median rent in Sioux Falls is $1,279/mo as of October 2026. A studio apartment averages $781/mo while a 2-bedroom runs $1,073/mo. One-bedroom apartments average $919/mo and 3-bedroom units go for $1,467/mo.
At 20% of local median household income ($75,970/yr), Sioux Falls ranks as affordable compared to the national benchmark of 30%. Rents have increased 4.2% over the past year.
Frequently asked questions
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Which nearby cities are cheaper to rent in than Sioux Falls?
At $1,279/mo, rent takes ~20% of Sioux Falls's median household income ($75,970/yr). The standard benchmark is 30%.
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Estimated from ZIP-level data
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