$215,688Average Value$150Average Price per Sq Ft2Homes For Sale
What it’s like living in Terrace Park
Terrace Park attracts people who want the charm of a historic home, but don’t want to pay top dollar. Living here, you’ll be just a short stroll or bike ride from one of the city’s most popular and historic parks surrounding Covell Lake. The local neighborhood association keeps the community spirit alive through organizing events held at the park, and you’re less than 2 miles from the restaurant and nightlife scene in Downtown Sioux Falls.
The neighborhood surrounds one of the city's oldest and most popular parks.
Homes in Terrace Park also come in a variety of vibrant colors.
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Types of houses that are available
Homes in Terrace Park have vintage character. The oldest were built as far back as the late 1800s, and many are from the early 20th century. Styles include American Foursquares, bungalows and minimal cottages — some with screened front porches. Midcentury ranch styles and split-levels are also represented. Sidewalks and mature trees add to the suburban vibes. But home conditions can vary. Joy Kortan, a Realtor since 2012 who currently works with Hegg Realtors, Inc., recommends learning about a home’s history before buying. “Check out the mechanics of it and what has been updated," she says. “Make sure you’re prepared to take on a home of that age.”
Some properties have been redeveloped.
The neighborhood has a variety of modest homes.
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How much the homes cost
Prices range from the mid-$100,000s to the mid-$200,000s, making this neighborhood a solid fit for buyers of all types in Sioux Falls. “It's popular with first-time homebuyers, buyers who are looking for something on the historical side, and very popular with investors,” Kortan says. Living here is a bit less expensive than in other areas of Sioux Falls, including downtown. Compared to a premier neighborhood like McKennan Park, though, the difference is significant. There, the median sale price is $369,950. Here, it’s $226,000.
Amenities at the neighborhood's waterfront park
Terrace Park is a big, welcoming green space, spanning 52 acres. "Historically, Terrace Park is one of our pioneer parks," says Brett Kollars, assistant director of Sioux Falls Parks and Recreation. "It's home to Covell Lake, which provides urban fishing, and is neighbored by athletic facilities like a ballpark for youth play. It has Japanese gardens within the park and one of our city's more popular pools." For downtime, people will walk the trail or head to the lake for fishing, kayaking or canoeing. On summer evenings, the Sioux Falls Municipal Band puts on free concerts in the park’s bandshell.
Quick facts about the park:
It is one of the city’s earliest planned parks, established in 1916.
The park is on the National Register of Historic Places, but the neighborhood is not.
The Terrace Park Neighborhood Association is a steward of the park and hosts events there, including plant swaps and movie nights.
The association has partnered with local students in recent years on beautification and public art efforts.
Covell Lake invites relaxation and outdoor adventures.
The park is known for its Japanese garden.
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How close Terrace Park is to downtown and other conveniences
The neighborhood is just about a mile and a half from downtown — an easy five-minute drive outside of peak traffic hours. Kortan says those hours tend to be around 7:00 a.m. and 5:00 p.m. It’s about half an hour to walk, or you can cover the distance in 10 minutes by bike. The neighborhood is also connected by bus lines, with stops dotting the main roads.
Buses provide a reliable and efficient form of transportation for locals.
Downtown Sioux Falls is a short drive away, or you could even walk there.
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Dining and nightlife options
There are a few restaurants and bars in and around the area. If you’re looking for live music and a relaxed vibe, Ken’s Korner is a local favorite. The Log Cabin is a popular spot for grabbing a drink, and, yes, it actually has log cabin ambiance. For more options, people make the short trip downtown. "We have some of the best bars and restaurants in the entire state within a 10-block radius," says South Dakota State Representative Kadyn Wittman, a resident of downtown Sioux Falls. Some popular spots include craft cocktail lounges like The Carpenter Bar and The Treasury. Phillips Avenue Diner and Minerva’s Restaurant are long-standing eateries. The Steel District, a mixed-use area that broke ground in 2021, has newer options, like Dahlia Kitchen and Bar for Mexican food.
Friends connect over drinks and food at The Log Cabin.
Explore the charm of downtown Sioux Falls for more options.
GreatSchools:
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West Ave & Bus Pullout (Midway Between 6th And Madison)
Bus
Brookings & Duluth SW Corner
Bus
Bailey (Veterens Park) SE Corner
Bus
Bailey (Mid-Block) & Lake SE Corner
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Crime and Safety
1 - Low Crime, 10 - High Crime
Terrace Park
US
Homicide
6
4
Sexual Assault
5
4
Assault with Weapon
5
4
Robbery
5
4
Burglary
6
4
Motor Vehicle Theft
5
4
Larceny
4
4
Crime Score
4
4
Source: WhatIsMyCrimeRisk.com
Terrace Park Demographics and Home Trends
On average, homes in Terrace Park, Sioux Falls sell after 27 days on the market compared to the national average of 55 days. The median sale price for homes in Terrace Park, Sioux Falls over the last 12 months is $210,000.
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Attention Investors! This remodeled 4-plex in Sioux Falls offers the perfect blend of updated living space, income potential, and flexibility. Inside you’ll find three remodeled 2-bed/1-bath units and one oversized 1-bed/1-bath unit, each with its own garage stall. In 2022, three units were extensively updated with new sheetrock, flooring, paint, fixtures, kitchens, and bathrooms, creating modern
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Local Logic measures the walkability, access to public transit and bikeability of any address. CAP Index provides objective, accurate, and consistent data to help measure, compare, and mitigate crime risks.
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. Our sources include: Accuweather, Public Records and Neustar. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
