Sioux Falls, SD Cost Of Living

Sioux Falls cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
Index	Sioux Falls	South Dakota	National
Cost of living index	93	90	100
Index	Sioux Falls	South Dakota	National
Goods & Services index	98	95	100
Groceries index	95	99	100
Health care index	109	104	100
Housing index	85	77	100
Transportation index	94	94	100
Utilities index	89	93	100

The above illustration supplies generalized information for the Sioux Falls, SD cost of living index. Compared to other cities in South Dakota and cities across the country, the cost of living index in Sioux Falls, SD is 93, which is 3% higher than the South Dakota average and 7% lower than that for the entire country. The index is comprised of the following criteria: cost of retail goods and services (33%), groceries (13%), health care (5%), housing (30%), cost of public/private transportation (9%) and utilities (10%). Everyday goods and services, along with housing account for 63 percent of the total cost of living index. Goods and services that are a necessity regardless of location provide an accurate general sense of the cost of living in one city versus another. As seen above, the cost of retail goods and services in Sioux Falls, SD are 3% higher than the average for South Dakota and 2% lower than the rest of the country.

Did you know?

The cost of living in Sioux Falls is 3% higher than the South Dakota average.
The cost of living in Sioux Falls is 7% lower than the national average.
The cost of housing in Sioux Falls is 15% lower than the national average.
South Dakota general sales tax is 21% lower than the national average.
South Dakota state income tax is 100% lower than the national average.

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Compare Sioux Falls, SD Cost of living To Other Cities

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Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index

The salary calculator allows you to compare how much your current salary in Sioux Falls, SD would be worth in another city. In other words, the salary calculator will adjust the figure you enter for cost of living so that you can determine how much more or much less you would need to earn while maintaining your current quality of living. If you are considering relocating to a more expensive city than Sioux Falls, SD, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The Sioux Falls, SD salary calculator is easy to use. All you do is enter the name of another city, then move the slider to your current income. After that, the salary calculator will crunch the numbers for you and give you the information you need about the place you are considering going. Additionally, it will show a detailed breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$74,607	$6,217	$1,741	$2,238
Renters	$33,136	$2,761	$773	$994

The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Sioux Falls, SD as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Sioux Falls, SD homeowners, is $74,607. This would allow for a maximum of $1,741 per month to be spent on housing costs. For renters, the median monthly income is $33,136 which would result in a maximum of $773 to be spent on rental costs.

South Dakota Sales Tax

State	General Sales Tax	With Max Surtax
South Dakota	4%	6%

South Dakota Income Tax

State	Income Tax (Low)	Income Tax (High)
South Dakota	0%	0%

One thing to keep in mind when considering the cost of living in Sioux Falls, SD is the South Dakota sales tax and South Dakota income tax rates. Sales taxes are taxes that are collected on most goods or services sold. Sales taxes can vary by state and can be as high as 7% and as low as 0% as not every state imposes a sales tax. The South Dakota sales tax rate is 4% and the maximum surtax that can be charged is 6%. Income tax is the tax imposed on income by both the federal and state government. The income tax rates varies by individual state and will also be higher or lower depending on the applicable tax bracket. The rates of state income tax can vary from 0% to more than 9%. The South Dakota income tax rates range from 0% to 0%.

Goods & Services

Item	Sioux Falls	National avg.	Difference
Haircut	$13.62	$16.09	15.3%
Beauty Salon	$28.24	$37.33	24.4%
Toothpaste	$2.74	$2.45	12.1%
Shampoo	$0.95	$1.00	4.8%
Movie	$9.39	$10.28	8.7%
Bowling	$4.14	$4.93	16.0%

Groceries

Item	Sioux Falls	National avg.	Difference
Ground Beef	$2.86	$3.80	24.8%
Fried Chicken	$1.31	$1.40	6.0%
Milk	$2.02	$2.01	0.6%
Potatoes	$2.06	$3.01	31.5%
Pizza	$10.68	$9.89	8.1%
Beer	$8.61	$8.90	3.2%

Health Care

Item	Sioux Falls	National avg.	Difference
Optometrist	$119.54	$102.16	17.0%
Doctor	$124.44	$108.36	14.8%
Dentist	$97.87	$92.53	5.8%
Ibuprofen	$8.99	$9.28	3.1%
Lipitor	$460.07	$425.82	8.0%

Housing

Item	Sioux Falls	National avg.	Difference
Home Price	$161,500.00	$184,700.00	12.6%
Avg. Mortgage Payment	$1,058.27	$1,202.44	12.0%
Apartment Rent	$749.00	$949.00	21.1%

Transportation

Item	Sioux Falls	National avg.	Difference
Gasoline	$2.16	$2.24	3.7%
Tire Balancing	$41.34	$46.29	10.7%

Utilities

Item	Sioux Falls	National avg.	Difference
All Electricity	$147.73	$165.96	11.0%
Phone	$25.75	$28.68	10.2%

Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

Nearby cities with low cost of living

City, State	Population	Cost of Living Index	National Avg.
Chancellor, SD	327	84	-16%
Lennox, SD	2,095	86	-14%
Valley Springs, SD	714	86	-14%
Larchwood, IA	865	87	-13%
Worthing, SD	1,066	88	-12%
Sioux Falls, SD	167,884	93	-7%

Cities with similar population

City, State	Population	Cost of Living Index	National Avg.
Ontario, CA	169,389	124	24%
Vancouver, WA	169,982	111	11%
Cape Coral, FL	170,063	98	-2%
Springfield, MO	165,138	85	-15%
Pembroke Pines, FL	164,753	112	12%
Sioux Falls, SD	167,884	93	-7%

Source: The Sioux Falls, SD cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2017.

Sioux Falls, SD Cost of Living