Salary & Cost of Living in Sioux Falls, SD
Sioux Falls, SD: $58,000 median salary, cost of living index 93, $11.50/hr minimum wage. Calculate your take-home pay with our free paycheck calculator.
Median Salary
$58,000
$28/hr
Cost of Living
93
US avg = 100
Minimum Wage
$11.50
per hour
Unemployment
1.8%
rate
Sioux Falls, SD Overview
Population
192,517
Median Salary
$58,000
Average Salary
$64,000
Avg Commute
17 min
Median Home Price
$275,000
Median Rent
$1,050/mo
Job Growth
+2.5%
Sales Tax
6.5%
Sioux Falls is located in South Dakota with a population of 192,517. The median household salary is $58,000 per year ($28/hour), which is $1,384 below the national median of $59,384. The average commute time is 17 minutes, and the city has a job growth rate of +2.5%.
Sioux Falls Paycheck Calculator
Enter your annual salary to see your estimated take-home pay in Sioux Falls, SD, after federal, state, and local taxes.
Estimated Annual Take-Home Pay
$48,642
$4,053.46/month · $1,870.83/biweekly · Effective Rate: 16.1%
Gross Pay
$58,000
Federal Tax
-$4,922
State Tax
$0
Local Tax
$0
FICA
-$4,437
Net Pay
$48,642
Pay Breakdown
| Item | Monthly | Annual |
|---|---|---|
| Gross Salary | $4,833.33 | $58,000.00 |
| Federal Income Tax | -$410.13 | -$4,921.50 |
| South Dakota State Tax (0%) | $0.00 | $0.00 |
| Social Security (6.2%) | -$299.67 | -$3,596.00 |
| Medicare (1.45%) | -$70.08 | -$841.00 |
| Net Take-Home Pay | $4,053.46 | $48,641.50 |
Salary Comparison: Sioux Falls vs Other Cities
See how Sioux Falls's median salary and cost of living compare to the national average and similar cities.
| City | Median Salary | COL Index | Adj. Salary |
|---|---|---|---|
| Sioux Falls, SD | $58,000 | 93 | $62,366 |
| National Average | $59,384 | 100 | $59,384 |
| Escondido, CA | $58,000 | 135 | $42,963 |
| Newark, DE | $58,000 | 102 | $56,863 |
| Jacksonville, FL | $58,000 | 96 | $60,417 |
| Palm Bay, FL | $58,000 | 95 | $61,053 |
Adjusted salary reflects purchasing power when cost of living is factored in. A higher adjusted salary means your money goes further.
Cost of Living in Sioux Falls
Sioux Falls's cost of living index is 93 (national average = 100). Living in Sioux Falls is 7% less expensive than the national average.
Median Home Price
$275,000
Median Monthly Rent
$1,050
Annual Rent Cost
$12,600
Your Salary's Purchasing Power
Your $48,642 annual take-home pay in Sioux Falls has the purchasing power of approximately $52,303 in an average-cost US area. Your $58,000 salary stretches further here than in most US cities.
Top Industries in Sioux Falls
Sioux Falls's economy is driven by these key industries. Workers in top industries often earn significantly above the median salary of $58,000.
Salary Tips for Sioux Falls Workers
- No state income tax advantage. South Dakota has no state income tax, which means more of your paycheck stays in your pocket. Invest the savings in a Roth IRA or 401(k) for long-term growth.
- Research top industries. Sioux Falls's top industries include Finance, Healthcare, Technology. Targeting roles in these sectors can help you earn above the $58,000 median salary.
- Review your W-4 withholding. If you regularly receive large tax refunds, adjust your W-4 to increase your per-paycheck take-home pay instead of giving the government an interest-free loan.
Explore Salaries Across the US
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Frequently Asked Questions
What is the median salary in Sioux Falls, SD?
The median salary in Sioux Falls, SD is $58,000 per year, or $28 per hour. The average salary is $64,000. This is $1,384 below the national median of $59,384.
What is the cost of living in Sioux Falls, SD?
Sioux Falls's cost of living index is 93 (national average = 100), meaning it is 7% less expensive compared to the national average. The median home price is $275,000 and the median monthly rent is $1,050.
What are the best industries in Sioux Falls?
The top industries in Sioux Falls, SD include Finance, Healthcare, Technology. The city has a job growth rate of 2.5% and an unemployment rate of 1.8%. Workers in these industries often earn above the city's median salary of $58,000.
How does Sioux Falls's salary compare to other cities?
Sioux Falls's median salary of $58,000 is 2.3% below the national median of $59,384. However, when adjusted for cost of living (index: 93), the real purchasing power is approximately $62,366.
What is the minimum wage in Sioux Falls, SD?
The minimum wage in Sioux Falls, SD is $11.50 per hour. This equals approximately $23,920 per year for a full-time worker (40 hours/week). This is $4.25 above the federal minimum wage of $7.25/hour.