Maybe landlords buy Governor Kristi Noem’s persistent claim that her feckless governance has produced “the strongest economy in America“. According to Rent.com’s latest monthly rent report, South Dakota’s median rent jumped 8.01% in October, making the highest monthly increase in the country and the highest second-highest year-over-year increase:
Florida’s median rent has increased 23.2% since October 2021, but the median rent in Kristi’s favorite destination in October actually declined 1.2%.
Nationwide, median rent fell for the second straight month, down 0.97% in October after a September dip of 2.5%. In October, the national median rent was 7.8% higher that it was a year ago.
South Dakota does still offer cheaper rent than most places. Median rent in South Dakota in October was $1,130, the eighth-lowest among the states for which Rent.com offers data. Median rent is lower in North Dakota, Iowa, Kansas, Oklahoma, Arkansas, Mississippi, and Alabama. The national median is $1,983.