Sioux Falls among the Most Affordable, Fast-Growing U.S. Cities

2023 continues to be a banner year for the economics of living in South Dakota's largest city.

For the third time since August, a national website has Sioux Falls highly ranked for affordability among the 200 largest cities in America.

The latest recognition comes from GOBankingRates, which analyzed the 2022 American Community Survey and has Sioux Falls in the number two spot on a list of the most affordable and fast-growing U.S. cities.

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After looking at population changes in recent years, the median household income, the average rent, the average home values, and the overall cost of living, Sioux Falls checks in right behind Kileen, Texas at the top of the list.

According to the report, the city has experienced a five-year population growth rate of 13.5% with an average home price of $312,000. Sioux Falls' total expenditures amount to over $66,000, which is about $7,000 below the national average.

Also notable, Sioux Falls is the only city in the top five not located in the South.

MOST AFFORDABLE, FAST-GROWING CITIES IN THE U.S.

1. Killeen, Texas
2. Sioux Falls, South Dakota
3. Clarksville, Tennessee
4. Oklahoma City, Oklahoma
5. Lubbock, Texas
6. Huntsville, Alabama
7. Kansas City, Missouri
8. Greensboro, North Carolina
9. Gainesville, Florida
10. Winston-Salem, North Carolina

In August, Sioux Falls was named as the Least Expensive Metro Area for Renters in all 50 states.

Then in October, Empower recognized South Dakota's largest city as the Most Affordable City in America for Working Adults.