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Home Renovation ROI Calculator for Sioux Falls, SD
Local data pre-filled
In Sioux Falls, SD (median home: $336,938), renovation costs run near the national average (cost of living index: 91). Calculate which improvements deliver the best ROI in the Sioux Falls market.
✓ Calculator below is pre-filled with Sioux Falls local data
Data as of · Sources: Zillow, Census ACS, Tax Foundation, Freddie Mac
South Dakota Financial Snapshot (2026) — Home Renovation ROI Calculator
Home value, monthly carrying cost, property tax, and insurance are the four levers for the home renovation roi calculator in South Dakota.
How the Home Renovation ROI Calculator Math Works Under South Dakota Law
Every real-estate number on this page runs through the same core identity: the monthly principal-and-interest payment on a fully amortizing fixed-rate loan is M = P · r / (1 − (1+r)^(−n)), where P is the loan principal, r is the monthly rate (annual rate / 12), and n is the term in months. For a typical South Dakota buyer in 2026, P starts from an $275,000 median home value (Zillow ZHVI)[1], minus a standard 20% down payment.
On top of P&I the calculator adds the two South Dakota-specific carrying costs: property tax at the state effective rate of 1.24%[2] and homeowners insurance at roughly $3,160/year (NAIC state average)[3]. The Freddie Mac PMMS national average 30-year fixed rate (6.30% (Freddie Mac PMMS · week of ))[4] drives the payment curve — South Dakota rate quotes can move a few basis points around that number depending on lender, loan size, and credit band.
Local context: Sioux Falls, SD
Housing economics in Sioux Falls, SD. The median home value runs 5.9% below the U.S. baseline for Sioux Falls, SD is $336,938 per Zillow's home-value index. Median rent runs $1,315 a month per Zillow ZORI, cheaper than the national $1,850 baseline. Effective property tax sits at 1.20% of assessed value, meaningfully higher than the 0.99% national average tracked by the Tax Foundation.
Income and tax climate. South Dakota's top marginal state income tax bracket lands at 0.00% — one of nine states that levies no broad-based income tax, shifting the revenue burden onto sales, property, and severance levies. BEA's Regional Price Parity scores Sioux Falls, SD at 91.0 (national = 100), meaning a dollar in Sioux Falls, SD buys 110¢ — more goods and services than the same dollar nationally.
Local context as of 2026-04-19.
Sioux Falls versus the U.S. baseline
| Metric | Sioux Falls, SD | U.S. baseline | Difference |
|---|---|---|---|
| Median home value[zillow] | $336,938 | $358,000 | -5.9% |
| Median monthly rent[zillow] | $1,315 | $1,850 | -28.9% |
| Property tax (effective)[tax-foundation] | 1.20% | 0.99% | 21.2% |
| State top marginal income tax[tax-foundation] | None | ~4.08% (volume-weighted) | −4.08 pp |
| State cost-of-living index[bea-rpp] | 91.0 | 100.0 | -9.0 pts |
How to use the Home Renovation ROI Calculator
Walk through using the Home Renovation ROI Calculator with Sioux Falls, SD-specific defaults pre-loaded from primary sources.
- Enter your Sioux Falls numbersFill in the home renovation roi inputs. Defaults reflect Sioux Falls, SD 2026: median home $336,938, median rent $1,315/mo, 1.20% effective property tax.
- Apply the local 2026 inputsThe median home value in Sioux Falls is $336,938 (Zillow ZHVI), with median monthly rent running $1,315/mo.
- Compare against Sioux Falls contextMonthly PITI on the $336,938 median home in Sioux Falls is ~$2,477/mo — vs a $1,315/mo median rent.
How South Dakota Compares to Neighboring States
| State | Median home | Top inc tax | Prop tax rate | RPP (US=100) |
|---|---|---|---|---|
| South Dakota (this page) | $275,000 | None | 1.24% | 88.1 |
| check Iowa | $215,000 | 3.80% | 1.50% | 88.8 |
| check Minnesota | $335,000 | 9.85% | 1.12% | 98.3 |
| check Montana | $460,000 | 5.90% | 0.83% | 91.0 |
| Nebraska side-by-side | $265,000 | 5.20% | 1.73% | 90.3 |
Sources: Zillow ZHVI[1], state Departments of Revenue / Tax Foundation[2], Tax Foundation property taxes[3], BEA Regional Price Parities[4].
What Changes Your Result in South Dakota
- Down payment size:South Dakota's typical down payment is 10.0%according to NAR survey data. Every 5% shift changes the monthly P&I by roughly 5–6% of the headline payment.
- First-time buyer programs:South Dakota runs state-level first-time buyer programs (DPA, MCC) that can cut effective down payment costs by $5,000–$15,000 for qualifying buyers. See programs block below.
- County-level property tax variance:The state effective rate shown in the snapshot is a statewide weighted average. Within South Dakota, county rates can swing ±30% around the median, especially in border counties with differing school-district mill levies.
Related Calculations for South Dakota
- how home appreciation works for South Dakota residents — renovations lift appreciation.
- South Dakota's kitchen remodel cost rules — kitchen is the highest-ROI remodel.
- Pool Cost Calculator for South Dakota — pool ROI varies widely by region.
- garage building cost by South Dakota — garage adds square footage and resale value.
How Sioux Falls Compares to the National Average
Understanding how Sioux Falls stacks up helps you calibrate your financial planning.
| Metric | Sioux Falls, SD | US Average | Difference |
|---|---|---|---|
| Median Home Price | $336,938 | $420,800 | -19.9% |
| Median Monthly Rent | $1,315 | $1,713 | -23.2% |
| Median Household Income | $81,418 | $74,580 | +9.2% |
| Property Tax Rate | 1.20% | 1.10% | +9.1% |
| Cost of Living Index | 91 | 100 | -9.0% |
Sources: U.S. Census Bureau, BLS, Zillow, NAR (2024–2025). Green = favorable for residents; red = less favorable.
Sioux Falls Financial Snapshot
- Population (Metro)
- 275,000
- Unemployment
- 2.2%
- Avg Commute
- 18 min
- Median Age
- 32.4
- Price-to-Rent Ratio
- 21.4x
- Annual Property Tax
- $4,043
More Financial Calculators for Sioux Falls, SD
Home Renovation ROI Calculator in Other South Dakota Cities
Frequently Asked Questions — Sioux Falls
- Can median-income households afford the median home in Sioux Falls?
- With a ~$2,477 monthly PITI and $81,418 median income, housing would consume ~36.5% of gross annual income. Qualifying under the 28% DTI rule requires ~$106,157 in annual income. Educational reference only.
- Is it better to rent or buy in Sioux Falls?
- Sioux Falls's price-to-rent ratio (21.4x) tilts toward renting — above 20x, buying is generally expensive relative to renting.
- What is the annual property tax bill on the median home in Sioux Falls?
- Approximately $4,043/yr at the 1.20% effective rate on the $336,938 median home. The national average effective rate is 1.07%.
- What share of median income goes to rent in Sioux Falls?
- The $1,315/mo median rent represents 19.4% of the $81,418 median household income. The recommended housing cost threshold is 30%; Sioux Falls falls within that guideline. Educational reference only.
- How much does commuting cost in Sioux Falls?
- Average commute time in Sioux Falls is 18 minutes per ACS. Estimated annual commute cost runs about $3,136. Educational reference only.
- How does the cost of living in Sioux Falls compare to the national average?
- Sioux Falls's BEA RPP index is 91, 9% below the national baseline of 100. For a household earning the national median income of $77,540, this translates to ~$6,979/yr in purchasing power difference. Educational reference only.
- What is the median home price in Sioux Falls, SD?
- The median home price in Sioux Falls is $336,938 as of 2025–2026.
- What is the average rent in Sioux Falls?
- The median monthly rent in Sioux Falls, SD is $1,315.
- Does the home renovation roi replace professional advice?
- No. This calculator gives educational estimates using public Sioux Falls data and standard formulas. It is not personalized tax, legal, or investment advice. Consult a licensed professional for decisions with material consequences.
How we compute this — methodology
The Sioux Falls page uses local median home price ($336,938), median rent ($1,315/mo), and property tax rate (1.20%) alongside the calculator's client-side formula. Calculations run in your browser — no inputs are sent to a server.
Known limits: ZIP-level variance within Sioux Falls can be substantial — the figures shown are city-wide medians. For a precise property tax quote, consult your county assessor.
Sources
- Zillow Research — ZHVI (Zillow Home Value Index) + ZORI (Zillow Observed Rent Index), city-level. zillow.com/research/data. Retrieved 2026-04-19.
- U.S. Census Bureau — American Community Survey (ACS) 5-year estimates for median household income and population. census.gov/programs-surveys/acs.
- CalcFi state financial context — tips + first-time homebuyer programs compiled from each state's Housing Finance Authority (HFA) public pages. See
src/data/state-financial-context.ts. - Tax Foundation — state property tax effective rates and state/local sales tax rates. taxfoundation.org.
- Freddie Mac Primary Mortgage Market Survey (PMMS) — weekly national mortgage rate averages used by mortgage-related calculators. freddiemac.com/pmms.
- Freddie Mac Primary Mortgage Market Survey (PMMS) — weekly national mortgage rates — www.freddiemac.com/pmms. Retrieved 2026-04-19.
- NAIC Dwelling Fire, Homeowners Owners, and Homeowners Tenants Insurance Report — content.naic.org/article/homeowners-insurance-report. Retrieved 2026-04-19.
- State Departments of Revenue — official bracket + deduction publications (one primary URL per state; linked in the brackets table below) — taxfoundation.org/data/all/state/state-income-tax-rates. Retrieved 2026-04-19.
- Bureau of Economic Analysis — Regional Price Parities by State — www.bea.gov/data/prices-inflation/regional-price-parities-state-and-metro-area. Retrieved 2026-04-19.
- U.S. Department of Labor — State Minimum Wage Laws — www.dol.gov/agencies/whd/minimum-wage/state. Retrieved 2026-04-19.
- FRED (Federal Reserve Economic Data) — real median household income, unemployment, HPI, LFPR per state — fred.stlouisfed.org. Retrieved 2026-04-19.
- BLS Occupational Employment and Wage Statistics (OEWS) — state-level occupational wages — www.bls.gov/oes. Retrieved 2026-04-19.
Spot an error? Email [email protected] with the URL and the correct figure.
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National reference: Home Renovation Roi Calculator