Why Live in Terrace Park
Terrace Park in Sioux Falls is a residential neighborhood located a mile and a half northwest of downtown. The area is known for its namesake park, which features Covell Lake, a popular spot for urban fishing, kayaking, and canoeing. The park also includes a well-loved outdoor pool, Japanese gardens, and athletic facilities such as Little League baseball fields. The neighborhood is characterized by a mix of single-family homes, including early 20th-century Tudors and American Foursquares, as well as midcentury ranch-style and split-level homes. Tall trees and sidewalks make it ideal for morning jogs and evening strolls. Terrace Park is home to a few notable dining options, such as Ken's Korner, Habesha, and The Log Cabin, with additional attractions and restaurants available downtown. The Sioux Falls Municipal Band performs free concerts in the park during the summer, adding to the community's vibrant atmosphere. For education, students attend Lincoln High School, which is highly rated. The neighborhood is safer than the national average, and most errands require a car, although downtown and the park are within walking distance. The nearest hospital, Sanford USD Medical Center, is a mile and a half away, and the Sioux Falls Regional Airport is two miles north.
Frequently Asked Questions
Is Terrace Park a good place to live?
Terrace Park is a good place to live. Terrace Park is considered car-dependent and somewhat bikeable with minimal transit options. Terrace Park has 5 parks for recreational activities. It is sparse in population with 1.1 people per acre and a median age of 41. The average household income is $45,917 which is below the national average. College graduates make up 15.7% of residents. A majority of residents in Terrace Park are renters, with 65.5% of residents renting and 34.5% of residents owning their home. A
local real estate agent serving Terrace Park can help you decide if this neighborhood is the right one for you. Learn more on our
Terrace Park neighborhood guide.
How much do you need to make to afford a house in Terrace Park?
The median home price in Terrace Park is $149,900. If you put a 20% down payment of $30,000 and had a 30-year fixed mortgage with an interest rate of 6.35%, your estimated principal and interest payment would be $750 a month plus property taxes, HOA fees, home insurance, PMI, and utilities. Using the 28% rule, you would need to make at least $32K a year to afford the median home price in Terrace Park. The average household income in Terrace Park is $46K.
What are the best public schools in Terrace Park?
The best public schools that serve Terrace Park are:
What are the best private schools in Terrace Park?
The best private schools that serve Terrace Park are:
What are the most popular zip codes in Terrace Park, Sioux Falls, SD?
What are the most popular neighborhoods near Terrace Park, Sioux Falls, SD?
Home Trends in Terrace Park, SD
On average, homes in Terrace Park, Sioux Falls sell after 7 days on the market compared to the national average of 52 days. The median sale price for homes in Terrace Park, Sioux Falls over the last 12 months is $147,500.
Median Sale Price
$147,500
Median Single Family Sale Price
$155,000
Average Price Per Sq Ft
$137
Number of Homes for Sale
1
Last 12 months Home Sales
4
Median List Price
$149,900
Median Change From 1st List Price
-2%