Sioux Falls Tops List Of Cities With Most Affordable Rent

In a housing market where rental costs have skyrocketed by more than 50% over the past decade these 10 cities top the list with most affordability rental payments.

According to Federal Reserve data, Sioux Falls ranks #2 on WalletHub's latest analysis of rental markets across America, just behind Bismarck, North Dakota.

The study examined median annual gross rent against median household income across more than 180 cities nationwide, revealing striking affordability differences between markets.

WalletHub Analyst Chip Lupo say...

"In the most affordable cities for renters, the median cost of rent is as low as 15% of the median income, compared to more than 33% in the most expensive cities. This gives people in the least expensive cities a clear financial advantage; the money they save on rent could go toward their emergency fund or savings for future home ownership."

The Midwest dominates the affordability rankings with eight of the top ten cities, while Alaska surprisingly claims two spots. 

Top 10 Cities With The Most Affordable Rent

1-Bismarck, ND
2-Sioux Falls, SD
3-Cheyenne, WY
4-Cedar Rapids, IA
5-Fargo, ND
6-Charleston, WV
7-Casper, WY
8-Overland Park, KS
9-Juneau, AK
10-Anchorage, AK