Sioux Falls named top city for young professionals for third consecutive year
Aug. 2, 2019
It’s a three-peat: Sioux Falls has again been named the best city for young professionals.
That marks the third consecutive year the city has topped the list, compiled by SmartAsset.com, which considered nine metrics related to both economic and livability factors relevant to young professionals. Measures included cost of living, entertainment, job diversity and income, along with the unemployment rate for people age 25 to 34.
Sioux Falls ranked in the top 40 percent for every metric other than job diversity, where it ranked slightly below average. Jobs were concentrated in retail, education, health care and social assistance, according to the report.
“Perhaps Sioux Falls’ biggest selling point is that it is incredibly affordable,” the report said.
“The median gross rent in 2017 was below $800 a month. In comparison, average median rent across all cities in 2017 was about $1,109 a month. Additionally, median earnings significantly outpace median rent. In Sioux Falls, median rent as a percentage of full-time workers’ earnings was only 15.14 percent in 2017 compared to an average of 23.43 percent for all cities.”
The ranking lifts Sioux Falls above cities traditionally touted as millennial hot spots. Austin, Texas, finished second. Denver and Nashville tied for third.
