The housing market in the Sioux Falls, SD Metro Area is particularly strong compared to the rest of the nation. The median value of a home in the area is $301,100, which is significantly lower than the median value for homes across the United States ($338,100). Additionally, over the past year, house appreciation in Sioux Falls has been 12.86%, much higher than the national average of 8.27%. This indicates that real estate prices are increasing at a rapid pace in Sioux Falls and suggests that now could be a great time to invest in this market.
The median home cost in Sioux Falls Metro Area is $301,100. Home appreciation the last 10 years has been 95.1%. Home Appreciation in Sioux Falls Metro Area is up 17.8%.
Average Age of Homes
- The median age of Sioux Falls Metro Area real estate is 34 years old
The Rental Market in Sioux Falls Metro Area
- Renters make up 30.7% of the Sioux Falls Metro Area population
- 1.8% of houses and apartments in Sioux Falls Metro Area, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.