2023 GOED Conference
SIOUX FALLS, S.D. – Sioux Falls is ranked the number one city in America for young professionals, according to a new report by SmartAsset. To win this prestigious award, Sioux Falls outperformed 149 other U.S. cities across nine metrics, looking at affordability, workforce demographics and entertainment options.
“South Dakota is ‘Open for Business,” and we’re receiving recognition for our strong economy and respect for freedom,” said Governor Kristi Noem. “Our state is the best place to raise a family and pursue your dreams. We welcome young professionals who want to share in our way of life and experience Sioux Falls’ booming economy.”
Sioux Falls has the second-lowest January 2021 unemployment rate (3.2%) and the second-highest labor force participation rate among residents ages 25 to 34 (92.6%). The city is also very affordable, ranking 19th-best for its median monthly rent ($849) and 12th-best for the estimated annual cost of living (about $19,300). Finally, it has the seventh-highest concentration of entertainment establishments (2.92%) and the fifth-lowest median rent as a percentage of full-time workers’ earnings (22.33%).
SmartAsset notes that remote work has increased dramatically during the COVID-19 pandemic, offering many young professionals greater flexibility to live farther away from their jobs.
“As we continue to build a city for future generations, this recognition highlights many aspects of what makes Sioux Falls a fantastic community to live, work and play,” said Sioux Falls Mayor Paul TenHaken. “Our community and state are thriving, and we’re excited to continue building a city that is attractive to the young professionals and many others who want to make Sioux Falls their home.”
Rounding out the top five cities in the study are: (5) Pittsburgh, Pa.; (4) St. Louis, Mo.; (3) Cincinnati, Ohio; and (2) Minneapolis, Minn.