Commercial Real Estate Market in Sioux Falls, SD
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
588 active listings and 5,315 off-market properties in Sioux Falls, SD. Commercial property asks $29/SF to buy and $18.27/SF/Yr to lease.
Market Trends
Sioux Falls, SD spans 175.9 square miles in Minnehaha County, South Dakota. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Sioux Falls, SD runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Vacancy Rate % in Midwest region
Retail
Retail vacancy in Sioux Falls, SD runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Sioux Falls, SD runs 4.9% across the Midwest region in 2025, up from 4.4% in 2019. Nearly 1.6x the 2022 low of 3.1%.
Vacancy Rate % in Midwest region
Multifamily
Multifamily vacancy in Sioux Falls, SD runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Vacancy Rate % in Midwest region
Market overview
Demographics & Economy
Sioux Falls, SD has 199,599 residents in 89,519 households. Density runs 1,135 people per square mile. Median household income here is $77,889 and median gross rent $1,016 a month.
199,599
Population
89,519
Households
2.2
Avg Household Size
36
Median Age
38%
College-Educated
93%
High-School Grad
175.9 sq mi
ZIP Area
1,135
Density / Sq Mi
$77,889
Median Household Income
$46,299
Median Earnings
$1,016
Median Rent
$281,398
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Tea | — | — |
| Harrisburg | — | — |
| Wall Lake | — | — |
| Renner | — | — |
Commercial property in Sioux Falls, SD asks $29/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Sioux Falls?
Commercial property in Sioux Falls, SD asks an average of $29 per square foot. The 3 most recent recorded sales traded at a median of $284/SF.
How much does it cost to lease commercial space in Sioux Falls?
Asking lease rates in Sioux Falls, SD average $18.27 per square foot per year.
Where does Realmo's Sioux Falls market data come from?
Realmo compiles Sioux Falls, SD figures from 7 recent recorded sales, 420 active sale listings, 168 active lease listings, 5,315 tracked off-market properties. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 420 active for-sale and 168 active for-lease listings in Sioux Falls, SD. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Refresh
- The monthly aggregates close at the end of the previous month, so 31 August 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at Midwest region level, retail vacancy is reported at Midwest region level and industrial vacancy is reported at Midwest region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 31 August 2026 · report a data issue
