Why Is Sioux Falls One of the Best Cities to Rent In?
If you're a renter, you've probably seen your rent go up substantially over the last year. In fact, according to Wallet Hub, 2022 saw a 6.2% increase over the year before. But rents weren't alone in that category, as mortgages also saw substantial gains over the previous year.
Whatever reasons people have for choosing to rent over choosing to buy, there are certain factors that make some cities more renter-friendly than others.
Believe it or not, in Wallet Hub's latest study - - Sioux Falls came out near the top of their Best & Worst Places to Rent In America.
What makes a city a good place for rentals?
Wallet Hub used 2 basic categories which looked at - A)Rental Market & Affordability and B) Quality of Life.
Under the first category, they examined things like apartment listings, rental vacancy rates, cost of living, renter's insurance costs, and security deposits.
With the Quality of Life category, they reviewed job availability, driver-friendliness, recreation, weather, public school systems, safety, and more.
When they were done crunching numbers, these were the results:
Top 5 Best Cities To Rent In
- Overland Park, Kansas
- Scottsdale, Arizona
- Bismarck, North Dakota
- Sioux Falls, South Dakota
- Chandler, Arizona
For more information and to see the complete study, check out Wallet Hub.