Sioux Falls Near Top Of Rent Affordability List
There are many reasons people choose to rent. According to WalletHub, 43 million American households choose to rent rather than buy a home because of convenience, cost or both.
High demand for housing is pushing up rental prices in most places. Rent prices rose 2.7% in the last year and 11 million people spend at least 50% of their monthly income on rent.
The good news folks who rent in Sioux Falls, and probably most places in Southeast South Dakota, prices are lower than average when compared to most areas of the U.S.
WalletHub came up with their overall ranking by averaging affordability and quality of life.
In that ranking, Sioux Falls finished 15th out of 182 cities in the overall best places to rent.
Separately, Sioux Falls ranked 4th in affordability and 107 in quality of life.
In North Dakota, Bismarck was 3rd overall and Fargo was 17.
Miami has the least affordable rental prices. Sunshine ain't cheap!