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CNN Money: SF 10th In Affordable Housing

September 19, 2012, 4:55 PM by Perry Groten

CNN Money: SF 10th In Affordable Housing
SIOUX FALLS, SD -

Money Magazine still thinks highly of Sioux Falls, twenty years after naming it the best place to live in America.  This year, Sioux Falls ranks tenth in the country for affordable housing.

CNN Money lists Sioux Falls' strengths as a growing population, low taxes, reasonable cost of living and safe streets.  Those qualities are driving more and more people to Sioux Falls, knowing their money will buy more in housing.

Cheri Schultz is planning a move from Fergus Falls, Minnesota to Sioux Falls to be closer to her grandkids.  She's looking for a home in the $200,000 price range.

"I have a lake home up north and so I would sell that and come down here and buy something here," Schultz said.

Local realtors say house hunters like Schultz should have no problems finding a home to their liking.  They point to a solid inventory in all price ranges.

"We don't have a buyer's market or a seller's market, I think it's even," Realtor Jeff Nelson said.

"It's a very upcoming city," Schultz said.

CNN Money agrees, crediting Sioux Falls' quality of life as attracting newcomers to the city. Nelson says a stable local economy is key to affordable housing.

"Generally, we're across the board, a real stable community, with real stable employers and more and more people being drawn to the work force here, from all over the Midwest," Nelson said.

Nelson says low interests rates are still the biggest drivers in home sales.  But a number 'ten' ranking in afforability doesn't hurt.

"I wish we were number-one or two or whatever, but number-ten, we'll take that, too," Nelson said.

Rochester, Minnesota came in sixth in CNN Money's housing affordability survey.  Fargo, North Dakota is 19th.
   
For a full list of the top 25 cities, click here.

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