Build your monthly budget for Sioux Falls. The calculator is pre-filled with realistic local expenses, including $1,000 average rent, so you can see your savings rate against the 50/30/20 rule.
Last updated: May 2026 · Data: MIT Living Wage Calculator, C2ER, U.S. Census, BLS, IRS, state and city sources
Sioux Falls has a cost-of-living index of 90 (US average = 100). Housing is usually the largest line item, with average 1-bedroom rent near $1,000/month. The estimates below are pre-filled in the calculator and scaled to local costs.
| Expense Category | Typical Sioux Falls Amount |
|---|---|
| Housing (1-bedroom rent) | $1,000/month |
| Food (single person) | $400/month |
| Transportation | $500/month |
| Utilities & Internet | $160/month |
| Healthcare & Insurance | $320/month |
| Personal & Entertainment | $200/month |
| Recommended Savings | 15%+ of gross income |
| Emergency Fund Target | 3 to 6 months of expenses |
Sioux Falls is the largest city in South Dakota and a major financial center, drawn by the state's lack of usury limits and income tax to host credit-card and banking operations (including Citibank's), along with healthcare, food processing, and retail.
| Local Metric | Sioux Falls (2026 estimate) |
|---|---|
| Metro population | 200,000 |
| County / jurisdiction | Minnehaha County |
| Cost of living index (US avg = 100) | 90 |
| MIT living wage, single adult | $19.50/hour |
| MIT living wage, one earner supporting a family of four | $39.50/hour |
| Applicable minimum wage | $11.20/hour |
| Average rent, 1-bedroom | $1,000/month |
| Average rent, 2-bedroom | $1,250/month |
| Median home price | $310,000 |
| Median household income | $68,000/year |
| Combined sales tax rate | 6.2% |
| Effective property tax rate | 1.15% of value/year |
Local figures are 2026 estimates compiled from the MIT Living Wage Calculator, the C2ER Cost of Living Index, U.S. Census and Zillow housing data, and city and county sources. Verify current figures before relying on them.
With a cost-of-living index of 90 (US average = 100) and average 1-bedroom rent near $1,000/month, a single adult in Sioux Falls typically needs take-home pay of at least $4,400/month to cover needs and save. The MIT living wage for a single adult is about $19.50/hour.
Split after-tax income into 50% needs (housing, food, utilities, transport, minimum debt), 30% wants, and 20% savings and extra debt payoff. In a high-cost city like Sioux Falls, the needs share often runs above 50%, so protect the 20% savings target.
Average rent in Sioux Falls is about $1,000 for a 1-bedroom and $1,250 for a 2-bedroom. A common guideline keeps rent under 30% of gross income, though that is difficult in higher-cost metros.
Based on the local cost-of-living index, typical monthly expenses in Sioux Falls run around $1,000 housing, $400 food, $500 transportation, and $160 utilities for a single person. The calculator is pre-filled with these estimates.
Aim for three to six months of essential expenses. In Sioux Falls, with monthly needs around $2,380, that is roughly $7,140 to $14,280.