57108, Sioux Falls, SD

The 57108 zip code of Sioux Falls, SD has a population of around 97,000 people and is home to many families. The median household income in this zip code is $60,000 which is higher than the national median household income of $53,046. However, the median home value in this zip code is only $144,500 which is lower than the national median home value of $217,500. This indicates that there are many families who are struggling to afford homes in this zip code.

One reason why homes in this zip code are relatively affordable compared to other areas of Sioux Falls is because there are a lot of low-income households living in this area. Around 36% of households in this zip code earn less than $30,000 per year which is lower than the statewide average percentage of low-income households (41%). Additionally, around 17% of households in this zip code have an annual income below $20,000 which is also lower than the statewide average percentage (19%). These low-income populations tend to be more likely to live in neighborhoods with lower home values and incomes.

Another reason why homes in this zipcode are relatively affordable compared to other areas of Sioux Falls is because there are a lot of vacant homes available for sale. Around 24%of all housing units in this zipcode are vacant which is higher than the statewide average percentage (17%). This indicates that there are a lot of families who would like to purchase a home but cannot due to the high demand for housing units and the limited supply available.