May 26, 2021

Sioux Falls has been named the best city for young professionals in a national ranking for the fourth consecutive year.

The financial website SmartAsset looked at the nation’s 150 largest cities and ranked them based on nine metrics:

• Percentage of the population age 25 to 34.
• January 2021 unemployment rate.
• Labor force participation rate for young professionals.
• Median gross rent.
• Estimated cost of living.
• Entertainment establishment density.
• Median earnings for full-time workers.
• Four-year change in median earnings.
• Median rent as a percentage of full-time workers’ earnings.

Sioux Falls ranks in the top 20 cities for six of the nine metrics considered. It has the second-lowest January unemployment rate at 3.2 percent and the second-highest labor force participation rate among residents age 25 to 34 at 92.6 percent.

“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,” the report said.

Sioux Falls also has the seventh-highest concentration of entertainment establishments at 2.9 percent and the fifth-lowest median rent as a percentage of full-time workers’ earnings at 22.3 percent.

The Midwest dominated the top 10 cities on the list:

The report noted a recent PricewaterhouseCoopers survey showing that more than two-thirds of executives think that employees should be in the office at least three days a week to maintain a strong company culture.

“This suggests that while remote work options may be more available in the future, professionals might still need to live near the office,” the report said.

To view the full rankings, click here.