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RentData.org Logo Sioux Falls Fair Market Rent FY 2020 Sioux Falls, SD MSA Rental Data

Fair Market Rent Prices in Sioux Falls, SD :
$599 $685 $839 $1,096 $1,302
Studio / Efficiency 1-Bedroom 2-Bedroom 3-Bedroom 4-Bedroom
0-BR 1-BR 2-BR 3-BR 4-BR
Moderate 40th Percentile Metro Area

Fair Market Rent prices in Sioux Falls are high compared to the national average. This FMR area is more expensive than 77% of other FMR areas. Fair Market Rent for a two-bedroom apartment in Sioux Falls is $839 per month.

The previous year, rent for a two-bedroom home was $873 per month. This is a 3.89% decrease year-over-year.

This FMR rate applies to Fairview, SD, Hudson, SD, Worthing, SD, Alcester, SD, Lennox, SD, Canton, SD, Tea, SD, Harrisburg, SD, Sioux Falls, SD and other cities within the region. The Metro Code or CBSA code for this region is METRO43620M43620.

Additionally, This Fair Market Rent (FMR) area Sioux Falls, SD MSA spans one county or city in South Dakota which is listed in the table below. Estimated population of Sioux Falls, SD MSA FMR area is 53,145 people based on latest Census data.

Compared to the rest of South Dakota, the Sioux Falls FMR area is more expensive than 95% of the state.

South Dakota Rents Map

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What is Fair Market Rent?

Fair Market Rent is determined each fiscal year by the HUD and is used to set payment standards for federal housing assistance programs in Sioux Falls. Fair Market Rent is the 40th-percentile of typical rentals in a given region. Learn more

Median Rent Prices in Sioux Falls

To compute the 40th percentile of rent prices the HUD must determine the median or 50th percentile as well. 50th percentile rent prices are NOT fair market rents (unless otherwise noted as a 50th percentile designated region above). However, some home owners or rents may be interested in the median rent prices as well.

50th Percentile Rental Prices:
0-BR Studio / Efficiency $ 634
1-BR 1-Bedroom $ 724
2-BR 2-Bedroom $ 887
3-BR 3-Bedroom $ 1159
4-BR 4-Bedroom $ 1376
Change Year:
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025

There is just one county (listed below) within the Sioux Falls, SD MSA FMR area (most regions, especially metro areas, cover multiple counties). This FMR area covers two metro areas: Sioux City and Sioux Falls (Mitchell).

County / Region Est. Population
Sioux Falls, SD Metro 53,145
Zip Codes in Sioux Falls, SD MSA

There are 11 unique zip codes in this Fair Market Rent (FMR) area:

57001, 57013, 57027, 57032, 57034, 57039, 57064, 57077, 57104, 57106 and 57108

Lookup Fair Market Rent by Zip Code

What's Next?

Here are some additional resources you may also be interested in:

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