South Dakota Leads U.S. in One Key Economic Category
When it comes to making your money go a little bit further, South Dakota has got every other state in one key area.
According to Stacker, the Mount Rushmore State has the nation's lowest rate of households that spend more than half of their income on rent.
Of the 109,257 rental households in the state, only 15.11 percent spend more than half of their income each month on rent.
Only nine states in America have fewer than 20 percent of households expending more than half of their income on rent.
LOWEST % OF HOUSEHOLDS THAT SPEND OVER 1/2 OF INCOME ON RENT
- South Dakota (15.11%)
- North Dakota (16.85%)
- Montana (17.42%)
- Maine (18.35%)
- New Hampshire (18.54%)
- Arkansas (19.19%)
- Utah (19.73%)
- Kansas (19.74%)
- Wisconsin (19.82%)
- Oklahoma (20.13%)
In South Dakota, 64.7 percent of households making less than $10,000 per year and 45.79 percent of households making $10,000-$20,000 spend more than half of their income on rent.
Iowa (20.44%) has the 14th lowest rate. Minnesota (22.42%) has the 22nd lowest rate.
Renters in Florida (28.6%), Hawaii (28.31%), New York (27.66%), California (27.57%), and Nevada (26.62%) have the highest percentage of households paying more than half of their incomes on rent.