Salary Needed to Live in Sioux Falls as a Retiree
A retired individual (65+) needs approximately $47,600/year to live comfortably in Sioux Falls, SD, including 5% savings.
Direct Answer
A retiree needs about $47,600/year to live comfortably in Sioux Falls, SD. The bare-minimum salary is $44,384/year, but the comfortable figure includes a 5% savings target and a monthly after-tax budget of $2,891.
The minimum scenario leaves about $2,737/mo after tax and no planned savings. The comfortable scenario uses $3,967/mo gross pay to cover expenses, taxes, and a savings buffer.
Hybrid salary estimateBLS, HUD, ACS inputsLast verified May 2026
Comfortable Salary
$47,600
with 5% savings
Bare Minimum
$44,384
$3,699/mo gross, no savings buffer
Monthly Expenses
$2,737
25% below national avg
Detailed Monthly Budget for a Retiree in Sioux Falls
| Expense | Sioux Falls | Nat'l Avg | Diff |
|---|---|---|---|
| 1-2BR Senior-Friendly Rent | $776 | $1,448 | -46% |
| Groceries | $189 | $189 | 0% |
| Utilities | $164 | $183 | -10% |
| Transportation | $190 | $211 | -10% |
| Car Insurance | $176 | $211 | -17% |
| Health Insurance | $534 | $630 | -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 | $2,737 | $3,642 | -25% |
How We Calculated the Salary
Monthly expenses:$2,737
Target savings (5%):$154/mo
Monthly after-tax needed:$2,891
Effective tax rate:26%
Gross annual salary needed:$47,600
What Drives the Salary Number?
Housing
$776
1-2BR Senior-Friendly rent is 28% of this monthly budget.
Taxes
26%
Estimated federal plus SD state tax reserve used to convert take-home needs into gross salary.
Savings target
5%
$154/mo is reserved for savings so the salary is not just break-even.
Local index
92/100
Sioux Falls is below the national baseline; the model adjusts baseline spending by local rent and cost data.
Compare Salary Needed in Nearby midwest Cities
Salary Planning Checklist
- Keep 1-2br senior-friendly housing near $776/mo or adjust the salary target upward.
- Budget $708/mo for persona-specific costs such as Medicare Supplement and Prescription Drugs.
- Use $44,384/year as the survival floor and $47,600/year as the healthier negotiation target.
Other Household Types in Sioux Falls
Related Pages
FAQ
What salary does a retiree need in Sioux Falls?
A retiree needs approximately $47,600/year ($3,967/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 $776/month, which is the largest single expense at 28% of the total budget.
Is Sioux Falls affordable for a retiree?
Yes, Sioux Falls is 25% more affordable than the national average for a retiree.