$222,176Average Value$152Average 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 away 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 Downtown Sioux Falls' restaurant and nightlife scene.
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 have vintage character in Terrace Park. 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 common. Sidewalks and mature tree coverage add to the suburban vibes. Since home conditions can vary, it’s a good idea to learn about a home’s history before buying. “Check out the mechanics of it and what has been updated," says Joy Kortan, a licensed Realtor since 2012 who works with Hegg Realtors, Inc. “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 it a solid fit for various types of buyers in Sioux Falls. “It's popular with first-time homebuyers, and 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 other areas, 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 a big, welcoming green space, spanning 52 acres. "Historically, Terrace Park is one of our pioneer parks, if you would," says Assistant Director of Sioux Falls Parks and Recreation Brett Kollars. "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 head out for a walk along the trail, or take 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 was established in 1916, making it one of the city’s earliest planned parks
The park is on the national register of historic places, but the neighborhood is not.
The Terrace Park Neighborhood Association is stewards of the park and hosts events here, including plant swaps and movie nights.
In recent years, the association has partnered with local students 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 the downtown area 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 tend to be around 7:00 a.m. and 5:00 p.m.. If you’re up for a walk, it’s about half an hour, or you can cover it in 10 minutes on a bike. Public transit is also an option, with bus stops dotting main roads in the neighborhood.
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 neighborhood. If you’re looking for live music and a relaxed vibe, Ken’s Korner is a local favorite. The Log Cabin actually has log cabin vibes and it’s a favorite for grabbing a drink. 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 + Bar for Mexican.
Friends connect over drinks and food at The Log Cabin.
Explore the charm of downtown Sioux Falls for more options.
GreatSchools:
The GreatSchools Rating helps parents compare schools within a state based on a variety of school quality indicators and provides a helpful picture of how effectively each school serves all of its students. Ratings are on a scale of 1 (below average) to 10 (above average) and can include test scores, college readiness, academic progress, advanced courses, equity, discipline and attendance data. We also advise parents to visit schools, consider other information on school performance and programs, and consider family needs as part of the school selection process.
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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 21 days on the market compared to the national average of 53 days. The median sale price for homes in Terrace Park, Sioux Falls over the last 12 months is $225,000.
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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.
