SD house rental rates among lowest in nation
South Dakota has among the lowest housing rental prices in the nation, according to a new survey.
Ezlandforms.com, a company that produces lease forms, examined data from the National Low Income Housing Coalition. The lease rates are based on renting a two-bedroom home, the most common accommodation, according to the study.
South Dakota is the cheapest in the Northern Plains at $680 per month. The renter would have to work 40 hours per week at $13.09 per hour to be able to afford the monthly rent payment.
"The most expensive states in which to lease a home are Hawaii and Alaska, where you'd need to earn more than three times the minimum wage to make rent," according to the study. "The most affordable states are Arkansas and Kentucky, where rents are half that of the most expensive states."
Other Northern Plains states and the hourly wage needed to make the rent: Minnesota, $856/month, $16.46 per hour; Wyoming, $768, $14.77; North Dakota, $738, $14.19; Montana, $705; $13.55; Nebraska, $701, $13.49; and Iowa, $689, $13.26.