Sioux City, IA-NE-SD
The numbers that matter most
What an investor checks first when sizing up a new metro — affordability ratio, rent vs income, cap rate proxy, and where the market is moving. Each metric shown vs. state and national medians for instant context.
affordable
Price to income
2.49×
The single most-cited 'is this market still cheap' check. Below 3× and you're in an affordability tailwind.
- vs Iowa
- 2.84×-0.35
- vs U.S.
- 3.43×-0.94
Benchmark
ACS median home value ÷ median HHI
comfortable
Rent to income
19.2%
What share of a typical household's income goes to rent. Below 30% means tenants can absorb modest rent increases.
- vs Iowa
- 18.6%
- vs U.S.
- 23.3%-4.1
Benchmark
(HUD FMR 2BR × 12) ÷ median HHI
deal-by-deal
Cap rate proxy
5.03%
Rough first-pass yield assuming a 35% expense ratio. Not an underwriting number — a 'is this even worth modeling' filter.
- vs Iowa
- 4.10%+0.92
- vs U.S.
- 4.35%+0.68
Benchmark
(FMR 2BR × 12 × 0.65) ÷ ACS median home value
shrinking
Net migration
-0.12%
Forward-looking demand signal. Positive net migration drives rent growth and absorbs new supply.
- vs Iowa
- -0.12%=
- vs U.S.
- 0.03%
Benchmark
IRS net migration ÷ population
normal
Permit pipeline
3.92
permits per 1,000 residents
Forward-supply indicator. Above ~5 means the metro is building meaningfully relative to its size; below 2 means supply is tight.
- vs Iowa
- 3.85+0.06
- vs U.S.
- 3.52+0.39
Benchmark
Census BPS permits TTM ÷ population × 1,000
healthy
Unemployment
3.5%
Tighter unemployment means higher wages, more rental demand, lower vacancy.
- vs Iowa
- 3.4%
- vs U.S.
- 3.9%-0.4
Benchmark
BLS LAUS, latest month
Where prices are and where they've been
5-year price appreciation
+47.8%
homeValues.yearOverYear
+7.2%
Median home value
$179,100
The rent ladder
| Bedroom | Monthly | Annual | % of median HHI |
|---|---|---|---|
| 1 BR | $925 | $11,100 | 15.4% |
| 2 BR | $1,154 | $13,848 | 19.2% |
| 3 BR | $1,386 | $16,632 | 23.1% |
Labor market direction
Unemployment
3.5%
Median household income
$72,027
What's being built
Total TTM
584
+174.7% YoY
Single-family
246
2–4 unit
22
5+ unit
316
All 4 counties, ranked by population
| County | Population | Home value | Median HHI | Permits TTM | YoY |
|---|---|---|---|---|---|
| Woodbury County | 105,526 | $172,000 | $70,147 | 234 | +225.0% |
| Dakota County | 21,308 | $168,100 | $71,655 | 46 | +17.9% |
| Union County | 16,700 | $269,500 | $84,137 | 301 | +161.7% |
| Dixon County | 5,579 | $141,400 | $69,156 | 3 |
Similar metros nationally
| Metro | Pop | Med HHI | P/I | Cap proxy | HPI 5y | Permits/1k | Unemp |
|---|---|---|---|---|---|---|---|
| ★Sioux City | 149,113 | $72,027 | 2.49× | 5.03% | +47.8% | 3.92 | 3.5% |
| Jefferson City, MO | 150,182 | $72,425 | — | — | +64.7% | — | 2.5% |
| Flagstaff, AZ | 144,705 | $69,748 | — | — | +64.4% | — | 4.9% |
| Grand Junction, CO | 156,131 | $71,485 | — | — | +57.3% | — | 3.7% |
| Santa Fe, NM | 154,481 | $74,689 | — | — | +52.6% | — | 3.6% |
| Hanford-Corcoran, CA | 152,515 | $68,750 | — | — | +45.8% | — | 9.1% |
Where people are moving in from
Net migration
-178
-0.12% of population
| Origin county | Tax returns |
|---|---|
| Woodbury County, IA | 431 |
| Dakota County, NE | 322 |
| Plymouth County, IA | 188 |
| Union County, SD | 137 |
| Minnehaha County, SD | 106 |
| Douglas County, NE | 76 |
Who lives in Sioux City
- Median age
- 36
- Bachelor's+
- 23.9%
- Owner-occupancy
- 68.3%
- Vacancy rate
- 5.9%
- Rent burdened (30%+)
- 38.4%
- Median household income
- $72,027
This page shows federally sourced data. A full editorial analysis with charts and investment commentary is in progress.