Sioux Falls, South Dakota Rental Market Trends
Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the Sioux Falls, South Dakota rental market.
Sioux Falls, South Dakota
Average Apartment Rent
$1,161
Y-o-Y Change in Average
Apartment Rent
2.7%
As of May 2026
Compared to a year ago, Sioux Falls, South Dakota apartments have recorded a 2.7% rent increase.
Sioux Falls, South Dakota Average apartment rent trend
Sioux Falls, South Dakota Average Apartment Rent
Sioux Falls, South Dakota Apartment rent ranges
At 50.13%, apartments priced $1,000 - $1,500 represent the bulk of Sioux Falls, South Dakota rentals, while condos priced Over $3,000 hold the lowest share of the market – 0.15%.
Sioux Falls, South Dakota Housing tenure**
Renters take up 40% of Sioux Falls, South Dakota real estate, occupying a total of 31,863 units, while homeowners live in 47,890 properties.
Median number of rooms of renter-occupied housing units**
3.9
Renter median household income**
$46,774
Average household size of renter-occupied housing units**
2
Rental vacancy rate**
4.8%
Sioux Falls, South Dakota Renter-occupied housing units by no. of bedrooms**
There are 13,997 rentals in Sioux Falls, South Dakota with 2 beds making up the highest share of the market, at 44%. Units with 5 or more beds, on the other hand, hold the lowest percentage (1%), amounting to 409 units. Overall, the median number of rooms in Sioux Falls, South Dakota homes for rent is 3.9.
Sioux Falls, South Dakota Renter-occupied units by age of householder**
Most condos for rent in Sioux Falls, South Dakota are occupied by residents in the 25 - 34 years age group (28%), followed by those in the 35 - 44 years age group (17%). At the same time, people in the 75 - 84 years age group make up the lowest share of the local rental market – 4%.
Sioux Falls, South Dakota Renter-occupied housing units by family type**
Sioux Falls, South Dakota Renter-occupied housing units by the presence of own children**
A total of 12,353 apartments for rent in Sioux Falls, South Dakota, or 39% of all rentals are family households. Additionally, 26% of rental homes include children under the age of 18 – that’s 8,199 units. All in all, the median size of a renter-occupied household in Sioux Falls, South Dakota is 2.
Sioux Falls, South Dakota Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 28% of the rental market. In contrast, residents with less than a high school degree reside in 8% of the homes for rent in Sioux Falls, South Dakota.
Sioux Falls, South Dakota Renter-occupied units by year structure built**
The highest share of Sioux Falls, South Dakota apartment rentals, namely 22% or 6,965 units, were Built 2010 - 2019, followed by those Built 2000 - 2009 (17%, 5,265 units), and the ones Built 1970 - 1979 (14%, 4,583 units).
Sioux Falls, South Dakota Renter-occupied units by year householder moved in**
Median year renter moved into unit 2018
Most Sioux Falls, South Dakota renters (42%) moved in 2018 to 2020, while only 1% of them moved in 1989 or earlier. Overall, the median year renters have occupied their Sioux Falls, South Dakota condos for rent is 2018.
Sioux Falls, South Dakota Renter-occupied housing units by vehicles available**
When it comes to transportation options, 54% of Sioux Falls, South Dakota renters have 1 vehicle available per household, 27% of them have 2 vehicles available, and 10% have No vehicle available.
Sioux Falls, South Dakota Means of transportation to work of householders living in renter-occupied housing units**
Sioux Falls, South Dakota Geographical mobility in the past year for householders living in renter-occupied housing units**
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Sioux Falls, South Dakota apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.
*Average single-family rent calculated from point2homes.com data.
**Data sourced from U.S. Census Bureau; American Community Survey, 2022 American Community Survey 5-Year Estimates
