Rent to own Homes in Sioux Falls, SD
Sioux Falls is the largest city in South Dakota, and it has a wonderful pulse and energy without being too busy and chaotic. Arts and entertainment are alive and well in Sioux Falls, and you can visit the Museum of Visual Materials or the Old Courthouse Museum for a taste of art or history. The Downtown Riverfront Amphitheater has an exciting year-round schedule of events, and the Sculpture Walk and Fawick Park offer unique and interesting glimpses into the city's arts and recreation.
Sioux Falls, SD is a great place for affordable rent-to-own homes! With a median household income of over $61,738 and a median rent of $838, the Sioux Falls, SD rent-to-own market is more affordable than the traditional housing market which has shown tremendous growth across the U.S. and with it, aggressive competition for home purchases. With the current housing shortage trend it can make it harder to become a homeowner, including in Sioux Falls, SD. This means higher than average down payments for homes and higher qualification standards for conventional home loans. With a rent-to-own property, tenants are also buyers. You can live in the house for a set amount of time before you purchase it, meaning that you get to know the house, your neighbors, and your community before making the final purchase. This enables you and your family to make the right choice based on both information and experience. Rent-to-own is also a great alternative way to get into a home if you have bad credit or don't have enough saved for a down payment.
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Rent to own Homes in Cities Near Sioux Falls, SD
Neighborhoods in Sioux Falls, SD
Beadle rent to own homes Diamond Valley rent to own homes Platinum Valley rent to own homes Pepper Ridge rent to own homes Morningside rent to own homes Oak View rent to own homes Belmont rent to own homes Augustana rent to own homes All Saints rent to own homes McKennan Hospital rent to own homesBuying a Home in Sioux Falls, SD
Sioux Falls, SD is seeing rapid growth and Sioux Falls, SD's' housing market remains optimal with an average home price that is -6% below the 2024 national average. Sioux Falls, SD is part of Minnehaha county and taxes are an important factor to consider when purchasing a home whether through rent to own or a traditional purchase. The average tax rate as of 2024 for county Minnehaha is 1.42% which is above the national average, which is 0.99%.
Median Home Price in Sioux Falls, SD
Median Rent in Sioux Falls, SD
Top Reasons to Live in Sioux Falls SD
Housing Statistics The average listing price in Sioux Falls is $232,906. The vacancy rate for multi-family housing is 5.2 percent. It's a good spot to look for new houses, whether you're looking to buy or rent property. Sioux Falls is 32 percent renter occupied and with vacancy rate for rentals is falling, get in quick if rent to own houses are what you're looking for. Annual residential turnover is around 24.6 percent.
Local Sports Sioux Falls may be tucked into a fairly empty part of the country, but that doesn't mean it doesn't hold its own when it comes to sports. The Sioux Falls Canaries, formerly known as the Sioux Falls Fighting Pheasants, are the city's baseball team. They won the American Association baseball championship in 2008. They've been playing ball since 1993 and are a great source of pride for the city. The city's basketball team, the Sioux Falls Skyforce, made it to the playoffs nine times. They won the CBA Championship in the '95-'96 season as well as the 2004-05 season. The Sioux Falls Storm is an indoor football team that holds the record for the longest winning streak in professional sports. The area's hockey team, the Sioux Falls Stampede, won the US Hockey League's Anderson Cup in the 2005-06 season. The city has hosted a number of sporting events, such as the American Association All-Star Game in 2007 and the CBA All-Star Game three times in the past 20 years. The Stampede, Storm, and Skyforce all play at the Sioux Falls Arena, while the Canaries play at the Sioux Falls Stadium.
Local Events and Festivals Sioux Falls is a bustling city with a lot to offer. It has no shortage of events and entertainment and no matter what time of the year you're visiting, you're bound to find something fun to do day and night. In mid-September, Falls Park comes alive for the annual Germanfest, a celebration of German food, beer, and culture. The Fall Festival of Artists takes place in the Wilde Prairie Winery Park and is a great chance to have a glass of wine while viewing the work of local artists. Kids love when Sesame Street Live comes to town to take over West Avenue with fun and antics. The Old Courthouse Museum hosts a summer concert series that features big names and local acts outside on the plaza. The Strawbale Winery hosts Sangria Sundays in the summer, where every Sunday afternoon you can join friends for music and wine in the countryside. Bring a blanket to the park at 2nd Avenue and 10th Street for Movies in the Park all through the summer months at dusk on Saturdays.
Neighborhoods Neighborhoods are the way that a city naturally breaks down into diverse and dynamic areas, and each offers its own glimpse into the city as a whole. Sioux Falls has a number of eclectic neighborhoods that bring a different vibe to the city. Here are some of the most popular neighborhoods in Sioux Falls: