How Long to Save for a Home in Sioux Falls, SD
Median home price, average rent, and a personalized savings timeline for Sioux Falls, updated 2026-Q1.
Median Home Price
$310,000
Average Rent
$1,100/mo
Median Income
$72,000/yr
5yr Price Growth
+28%
Calculate for Sioux Falls
Monthly investment
$500Down payment
Down Payment Scenarios in Sioux Falls
| Scenario | Down Payment | With Bricks | Savings Acct |
|---|---|---|---|
| 3.5% FHA | $10,850 | 1.8 years | 1.8 years |
| 10% Down | $31,000 | 4.4 years | 5.2 years |
| 20% Down | $62,000 | 7.6 years | 10.2 years |
Save for a home in Sioux Falls faster
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Buying a Home in Sioux Falls, South Dakota
Sioux Falls is one of the Midwest's growing metro areas with a population of 205,000. The median home price of $310,000 is near the national average.
With average rent at $1,100/month, a renter in Sioux Falls investing $500/month into diversified REITs could accumulate a 20% down payment of $62,000 in approximately 7.6 years. The same monthly contribution in a traditional savings account would take about 10.2 years.
Home prices in Sioux Falls have grown 28% over the past five years, outpacing the national average. For renters, this means the down payment target continues to move, making it even more important to invest rather than just save, so your money grows alongside home prices.