Chesapeake vs Sioux Falls: Cost of Living Comparison
How does the cost of living in Chesapeake, Virginia compare to Sioux Falls, South Dakota? Below is a side-by-side breakdown of housing costs, income, wages, and taxes using official government data.
Summary: Sioux Falls is the more affordable city overall. Housing costs are 36% higher in Chesapeake compared to Sioux Falls, while rent is 50% higher. SD has no state income tax.
| Metric | Chesapeake, VA | Sioux Falls, SD | Diff |
|---|---|---|---|
| Housing | |||
| Median Home Value | $339,500 | $250,000 | +35.8% |
| Median Monthly Rent | $1,446 | $965 | +49.8% |
| Income | |||
| Median Household Income | $92,703 | $71,785 | +29.1% |
| Per Capita Income | $42,753 | $40,198 | +6.4% |
| Taxes | |||
| State Income Tax Rate | 5.8% | None | same |
| Combined Sales Tax | 5.8% | 6.4% | -10.2% |
| Demographics | |||
| Population | 249,377 | 193,401 | +28.9% |
Source: U.S. Census Bureau ACS 5-Year Estimates (2022), Freddie Mac Primary Mortgage Market Survey. State/local tax rates from Tax Foundation (2024).
Rent vs. Buy Calculator — Chesapeake
Default home price from Census ACS median. Mortgage rate: 6.38% (Freddie Mac PMMS, March 2026). Property tax est. 1.1%, insurance est. 0.35% of home value annually.
Rent vs. Buy Calculator — Sioux Falls
Default home price from Census ACS median. Mortgage rate: 6.38% (Freddie Mac PMMS, March 2026). Property tax est. 1.1%, insurance est. 0.35% of home value annually.
Key Takeaways
- Housing: The median home in Chesapeake costs $339,500 compared to $250,000 in Sioux Falls — a 36% premium.
- Rent: Median rent is $1,446/mo in Chesapeake vs $965/mo in Sioux Falls.
- Income: Median household income is $92,703 in Chesapeake and $71,785 in Sioux Falls.
- Taxes: South Dakota has no state income tax, while Virginia has a 5.75% rate.
Methodology
This comparison uses data from the U.S. Census Bureau American Community Survey 5-Year Estimates (2022) for median household income, median home value, median gross rent, per capita income, and population. State and local tax rates are sourced from the Tax Foundation. Mortgage rates are from the Freddie Mac Primary Mortgage Market Survey (updated weekly).