Salary Needed to Live in Sioux Falls as a Retiree
A retired individual (65+) needs approximately $18,661/year to live comfortably in Sioux Falls, SD — including 5% savings.
Comfortable Salary
$18,661
with 5% savings
Bare Minimum
$17,400
no savings buffer
Monthly Expenses
$1,073
11% below national avg
Detailed Monthly Budget for a Retiree in Sioux Falls
| Expense | Sioux Falls | Nat'l Avg | Diff |
|---|---|---|---|
| 🏠 1-2BR Senior-Friendly Rent | $98 | $121 | -19% |
| 🛒 Groceries | $16 | $16 | 0% |
| ⚡ Utilities | $14 | $15 | -7% |
| 🚗 Transportation | $16 | $18 | -11% |
| 🛡️ Car Insurance | $176 | $211 | -17% |
| 🏥 Health Insurance | $45 | $53 | -15% |
| Medicare Supplement | $184 | $200 | -8% |
| Prescription Drugs | $138 | $150 | -8% |
| Internet + Phone | $110 | $120 | -8% |
| Recreation & Social | $184 | $200 | -8% |
| Home Maintenance | $92 | $100 | -8% |
| Total Monthly | $1,073 | $1,204 | -11% |
How We Calculated the Salary
Monthly expenses:$1,073
Target savings (5%):$61/mo
Monthly after-tax needed:$1,134
Effective tax rate:26%
Gross annual salary needed:$18,661
Other Household Types in Sioux Falls
Related Pages
FAQ
What salary does a retiree need in Sioux Falls?
A retiree needs approximately $18,661/year ($1,555/month gross) to live comfortably in Sioux Falls with a 5% savings rate.
How much is rent for a retiree in Sioux Falls?
A 1-2br senior-friendly in Sioux Falls costs approximately $98/month, which is the largest single expense at 9% of the total budget.
Is Sioux Falls affordable for a retiree?
Yes, Sioux Falls is 11% more affordable than the national average for a retiree.