Affordable South Dakota? The Reality of Rent in Sioux Falls and Beyond

Sure, Sioux Falls rent prices might seem manageable on paper, unless you're a single parent juggling skyrocketing grocery bills, hefty car payments, and the endless struggle to keep a household afloat. It's tough to keep things going, but it could be worse.

Compared to other states, South Dakota boasts some of the lowest average rent prices in the nation, with an average of $878 per month. According to a new survey from Earnest, only Arkansas ($868) and West Virginia ($831) have lower averages. Mississippi ($896) and Kentucky ($902) complete the top five most affordable states for rent.

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Taking a closer look at Sioux Falls, higher rent prices are no surprise. According to Apartments.com, the average rent for a one-bedroom apartment sits at $954, while two-bedroom units average $1,154, and three-bedroom units average $1,445. Brace yourself for some sticker shock; downtown Sioux Falls rents can soar up to 50% higher. Ouch!

While those rent prices are historically high for Sioux Falls, there’s a silver lining: they’ve only increased by a modest 0.1% from 2023 to 2024. A small win for renters!

Curious about which states have the priciest average rent? Topping the list is Hawaii at a steep $1,868 per month, paradise comes at a cost! Following close behind are California ($1856), Washington D.C. ($1817), Maryland ($1598), and Colorado ($1594). So, hey, it could always be worse!