Home Insurance in Sioux Falls, South Dakota
With a median home value of $292,400, Sioux Falls is close to the Minnehaha County median.
The typical home in Sioux Falls was built around 1993. Because older housing stock often has aging wiring, roofing or plumbing, it can cost more to insure or rebuild. About 19% of homes were built before 1960, about 3 points below Minnehaha County's 22%.
The housing stock in Sioux Falls is 61% single-family homes, 30% apartments in buildings with 5+ units and 3% mobile or manufactured homes. Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy.
About 65% of owner-occupied homes in Sioux Falls have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
Sioux Falls has an owner-occupancy rate of 60% and a vacancy rate of 5%; unoccupied homes typically need a different coverage form.
Most homes in Sioux Falls - 67% - are primarily heated with natural gas.
Minnehaha County's top FEMA-rated hazard is tornado (Relatively High), per FEMA's National Risk Index. Minnehaha County had 280 active NFIP flood policies as of September 2026. See the full Minnehaha County home insurance overview for all FEMA hazard ratings and flood coverage details.
According to the NAIC homeowners insurance report (2023 data), a standard HO-3 homeowners policy in South Dakota carries a statewide average premium of $1,614 per year.
Key figures
| Median home value | $292,400 |
|---|---|
| Median year built | 1993 |
| Owner-occupied share | 60% |
| Share of owner-occupied homes with a mortgage | 65% |
| Top county hazard | Tornado (Relatively High) |
| Active NFIP policies in Minnehaha County | 280 |
| Home insurance premium | $1,614 - statewide average (NAIC, 2023 data) |
Nearby towns
Sources
Data last updated: 2026-09-29
- U.S. Census Bureau Gazetteer Files (2024)
- U.S. Census Bureau, American Community Survey 2020-2024 5-Year Estimates (2024)
- FEMA National Risk Index (December 2025)
- FEMA OpenFEMA NFIP Redacted Policies v3 (2026)
- NAIC Dwelling Fire, Homeowners Owner-Occupied, and Homeowners Tenant and Condominium/Cooperative Unit Owners Insurance: Data for 2023 (published 2026) (2023)