Sioux Falls vs Waco
Fair Market Rent Comparison — HUD 2025 Data
Quick Answer
Waco is 9% cheaper for renters. A 2-bedroom rents for $770/mo vs $837/mo in Sioux Falls — saving $804/year.
Rent by Unit Size
| Unit Size | Sioux Falls | Waco | Difference |
|---|---|---|---|
| Studio | $544 | $530 | $14 |
| 1 Bedroom | $672 | $629 | $43 |
| 2 Bedrooms | $837 | $770 | $67 |
| 3 Bedrooms | $1,012 | $988 | $24 |
| 4 Bedrooms | $1,129 | $1,119 | $10 |
| Median Income | $55,443 | $40,886 | $14,557 |
Sioux Falls
- Studio
- $544/mo
- 1 BR
- $672/mo
- 2 BR
- $837/mo
- 3 BR
- $1,012/mo
- 4 BR
- $1,129/mo
- Median Income
- $55,443/yr
Waco
- Studio
- $530/mo
- 1 BR
- $629/mo
- 2 BR
- $770/mo
- 3 BR
- $988/mo
- 4 BR
- $1,119/mo
- Median Income
- $40,886/yr
Frequently Asked Questions
Is Sioux Falls or Waco cheaper to rent in?
Waco is cheaper — a 2-bedroom Fair Market Rent is $770/mo vs $837/mo in Sioux Falls. That's $67/mo or $804/year more expensive in Sioux Falls (9% higher).
What is the 2-bedroom rent in Sioux Falls vs Waco?
The HUD Fair Market Rent for a 2-bedroom in Sioux Falls is $837/month. In Waco, a 2-bedroom FMR is $770/month.
How do incomes compare between Sioux Falls and Waco?
The median household income in Sioux Falls is $55,443/year. In Waco it is $40,886/year. Sioux Falls has the higher median income.
What is the studio rent in Sioux Falls vs Waco?
A studio apartment Fair Market Rent in Sioux Falls is $544/mo. In Waco it is $530/mo.