| Index | Sioux Falls | South Dakota | National |
| Cost of living | 99 | 92 | 100 |
| Groceries | 98 | 99 | 100 |
| Health care | 95 | 97 | 100 |
| Housing | 105 | 77 | 100 |
| Transportation | 93 | 96 | 100 |
| Utilities | 104 | 103 | 100 |
| Lifestyle & Entertainment | 93 | 94 | 100 |
| Household Items | 95 | 96 | 100 |
| Education & Childcare | 98 | 98 | 100 |
Getting a feel for the cost of living in Sioux Falls is essential for anyone planning to relocate, as it empowers them to make informed financial decisions, secure a comfortable lifestyle and maintain financial stability in their new environment. The cost of living in Sioux Falls is 99, which is 1% lower than the national average. Relocating individuals may need to adjust their savings and investment strategies based on the cost of living in the new location. It influences decisions about retirement planning, investments and financial goals.
The cost of living in Sioux Falls aligns closely with the national average when compared to other cities across the nation. Everyday essentials such as groceries, household expenses, health care and utility bills are priced at a level consistent with the average in similar urban areas. Sioux Falls residents can anticipate that their daily expenses won't be significantly higher than those in an average city, ensuring that the cost of living remains manageable.
Nobody knows their city better than the people who actually live there. So, we asked 25 local residents how they would rate the cost of living in Sioux Falls and this is how they responded. 56% of people said that the cost of living was affordable, with prices decreasing, while 44% of people said that the cost of living was very expensive and prices continue to rise.
Is Sioux Falls affordable? It's a key consideration when pondering a move, as affordability often shapes your choices. The cost of living index (we discussed it earlier), coupled with housing costs and income levels, serves as the cornerstone for determining a location's affordability. Take Sioux Falls, for instance, where the median home price falls 12.3% higher than the national average, and monthly rent rates are 12.8% lower than usual. Additionally, median income levels contribute to the equation, with Sioux Falls flaunting a median household income of $92,898, 14.2% higher than the national norm.
Groceries: Grocery prices have seen substantial hikes in the last 2-3 years, with some markets witnessing food cost increases of over 20% during this period. Conversely, certain markets have experienced only moderate upticks. These variations in food expenses can have a substantial impact on the overall cost of living in any locality. In Sioux Falls, the groceries index is 2.1% lower than the national average.
Healthcare: Healthcare expenditures and insurance premium rates can vary significantly, contingent upon the particular city or state. Factors such as the accessibility of healthcare facilities, out-of-pocket expenses for doctor's appointments, dental care charges, prescription medication costs, and expenses related to specialized medical care can all have an impact on the overall cost of living. In Sioux Falls, healthcare costs are 4.8% lower than the national average.
Transportation: In cities with limited or no public transportation, residents may find it necessary to own and maintain vehicles, thereby elevating the cost of living. Monthly expenditures include fuel, insurance, routine maintenance and potential lease or financing commitments. In Sioux Falls, the transportation index stands at 6.9% lower than the national average.
The cost of living data for Sioux Falls shown above is based on a U.S. average baseline score of 100, making it easier to compare how far your dollar may go from one city to another. Housing uses U.S. Census home price and rental data, while all remaining values are AI-assisted estimates informed by regional pricing, climate, transportation dynamics, and local economic factors. These scores are best used for directional comparisons between cities.
| Cost of living index | |
| Groceries index | |
| Health care index | |
| Housing index | |
| Transportation index | |
| Utilities index | |
| Lifestyle index | |
| Household index | |
| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $127,886 | $10,657 | $2,984 | $3,837 |
| Renters | $59,003 | $4,917 | $1,377 | $1,770 |
| State | General Sales Tax | With Max Surtax |
| South Dakota | 4.5% | 6% |
| State | Income Tax (Low) | Income Tax (High) |
| South Dakota | 0% | 0% |
| City | Population | Cost of Living Index | National Avg. |
| Chancellor, SD | 303 | 86 | 13.7% |
| Lennox, SD | 2,519 | 90 | 9.8% |
| Valley Springs, SD | 920 | 91 | 9.5% |
| Larchwood, IA | 1,000 | 91 | 8.9% |
| Garretson, SD | 1,545 | 92 | 8.3% |
| Sioux Falls, SD | 185,812 | 99 | 1.0% |
| City | Population | Cost of Living Index | National Avg. |
| Providence, RI | 185,554 | 109 | 9.0% |
| Santa Rosa, CA | 185,280 | 163 | 62.9% |
| Ontario, CA | 185,250 | 143 | 43.4% |
| Newport News, VA | 184,134 | 105 | 5.3% |
| Chattanooga, TN | 187,734 | 97 | 3.5% |
| Sioux Falls, SD | 185,812 | 99 | 1.0% |
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