The top city for young professionals who want to make more money, live cheaply, and have fun in 2018 is in South Dakota

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August 28, 2018 3:19 PM

Sioux Falls, South Dakota, is the perfect place for young professionals, according to SmartAsset. The financial-tech company found that the city's affordability and low unemployment rates made it a hot spot for young people.

Sioux Falls,
The financial-tech company SmartAsset recently released its annual report of the top US
Sioux Falls came out on top once again in 2018, largely thanks to its low cost of living and high employment rate.

Sioux Falls, South Dakota, is a yuppie's paradise.

The financial-tech company SmartAsset recently released its second annual report on the best US cities for young professionals, and Sioux Falls took the top spot for the second year in a row. Minneapolis; Seattle; San Francisco; Austin, Texas; and Anchorage, Alaska, also appeared in both this year's rankings and last year's list.

SmartAsset looked into a city's median gross rent, its five-year change in median earnings, its entertainment and arts establishments, and its job diversity. It also took into account the number of people aged 25 to 34 in the city, as well as the unemployment rate and the labor-force participation rate for that population.

Sioux Falls boasts an unemployment rate among young adults of 1.49%. What's more, SmartAsset found that the median full-time employee in the city would have to dedicate just 23% of their earnings to pay the median rent in the city.

The city's newspaper, the Argus Leader, reported earlier this year that Sioux Falls is home to 183,200 people, marking a 2.5% bump from last year. According to the US Census Bureau, the city's median household income was $54,110 in 2016.

Sioux Falls is also home to the outdoor Christian music festival LifeLight, a bronze casting of Michelangelo's David sculpture, and a park that's "one of the oldest sites of long-term human habitation in the United States," according to South Dakota's official travel site.

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