New study shows North Dakota as #1 renter friendly place in the U.S.

Published: May. 27, 2023 at 3:36 PM CDT
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FARGO, N.D. (Valley News Live) - Parts of North Dakota have been booming with growth recently and a new study shows that it’s actually the #1 renter-friendly place in the United States.

The top three states for renters in 2023 include Iowa, South Dakota, and North Dakota is in first place.

North Dakota residents have the lowest rent-to-income ratio in the United States. North Dakota’s median overall rent is $853, which accounts for about a quarter of residents’ monthly household income.

North Dakota also has the highest vacancy rate in the U.S. at 12.2%, meaning that renters should have plenty of options to choose from.

Josh Verghis, a leasing agent at Valley Rental, said that it’s great to see efforts working, and they’re going to continue doing what they can for their customers.

“If someone comes in and they’re looking for something specific, we have a centralized leasing market where we actually get some information, and then we analyze all nine properties that we manage in Fargo, to find the best fit for them,” Verghis said. “Whether that’s a pet-friendly location, pet-free, smoke-free, we kind of look at everything and try and make it as seamless and painless as we can.”

The study shows California is the worst place to rent, with average prices close to $1,700 per month, though the median state income is also about $20,000 per year higher.