Relocation Guide: Moving to Sioux Falls, South Dakota

June 3, 2024

Moving to Sioux Falls quite a big, quiet community, unpretentious and humble about its outstanding standard of living, which is probably why it is one of America’s best-kept secrets. Locals in Sioux Falls declare that the ‘East River’ reigns supreme, which is important to know if you want to relocate to the city. Everything else in South Dakota, they claim, is “West River” from the Missouri River’s west bank.

So, why does the East River reign supreme, and why is it so nice? East River residents enjoy their vibrant, thriving, artsy, and pleasant community for a variety of reasons, including a thriving economy, affordable cost of living, short commute times, amazing parks system, and trendy historic neighborhoods.

Things to know before moving to Sioux Falls, SD

Sioux Falls is at or near the top of many best-of lists in Augusta University’s main rankings report: Sioux Falls was named #3 ‘Hottest Job Market in 2020′ by ZipRecruiter, and Sioux Falls was named #1 ‘Best City for Young Professionals’ three years in a row by Sioux Falls is ranked #7 in the ‘Top 100 Best Places to Live in the 2019 survey. Those have to be some of the reasons why Sioux people live.

Sioux Falls, is in southeastern South Dakota, has a population of 190,750 people, but the surrounding metro area has a population of 265,653. Sioux Falls glimmers and gleams, from its revitalized historic downtown to its thriving financial, retail, and health-care industries. This Minnehaha County jew also has a beautiful park system and high-quality childcare through post-secondary education.

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Tax Rates

Property tax: If you buy a house in Sioux Falls, you’ll pay an average property tax of 1.429 percent. And you end up paying $3,573 for an annual property tax.

Sioux Falls has a combined sales tax rate of 6.5 percent, which is lower than the national average of 7.3 percent.

State income tax: There is no personal state income tax in South Dakota. Furthermore, the absence of a corporate income tax has attracted astute financial firms.

House Market

The current median home value is $235K, with a median list price of $136 Price/Sq Ft (March 2021). Home prices rose by 3.3 percent in 2019 and are forecast to grow by 4.2 percent by the end of 2020, according to the industry. Since nearly half of all homes in Sioux Falls were constructed before 1970, you might need to do some repairs or remodeling if you buy one.

Cost of Living moving to Sioux Falls

The overall cost of living index in Sioux Falls is 88.6, which is just over 11% lower than the national average of 100. Health costs 91.6, housing 81.4, services 96.4, and transportation 74.8 percent less than the national average. Grocery costs average or close to average at 100.1 and miscellaneous (insurance, maintenance, clothes, dining out, etc.) costs average or close to average at 101.9.

The median household income is $74,598, almost $4,000 more than the national average of $70,850. The Economic Policy Institute’s Family Budget Calculator will help you figure out how much you’ll need to make in Sioux Falls to live comfortably. They say that you’d have to earn $6,467 a month or $77,607 a year to live in the Sioux Falls metro area.

Job Market and Economy

The unemployment rate in Sioux Falls is 2.1 percent, which is slightly lower than the national rate of 3.7 percent. In 2019, employment growth was 1.7 percent, marginally higher than the 1.6 percent average in the United States. According to forecasts, employment growth will be high over the next ten years, at 36.6 percent, compared to 33.5 percent in the United States.

Sioux Falls was named the #1 ‘Best Small Places for Business and Careers by Forbes in 2018. Health care and social assistance, retail trade, finance and insurance, advanced manufacturing, data centers, food processing, and educational services are among the main industrial sectors.

Wells Fargo, Citi Bank, Walmart/Sam’s Club, Evangelical Lutheran Good Samaritan Society Healthcare, Sanford Health, Avera Health, Smithfield Foods, Sioux Falls School District, Hyvee Food Stores, and the City of Sioux Falls are among the largest employers in the city.

Make sure your resume is up to date and ready to submit in electronic format before looking at online work boards or visiting Sioux Falls jobs agencies. Jobssearches.Org is also a good place to start looking for jobs and networking.

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