North Dakota is home to two of the five most affordable rental markets in the nation, according to a new analysis from WalletHub that examined housing costs across more than 180 U.S. cities.

Bismarck ranked No. 1 overall, with residents spending about 15.3% of their median annual household income on gross rent. The report found Bismarck has the 16th-lowest median annual rent and the 80th-highest median income, a combination that results in the lowest rent-to-income ratio in the study.

Fargo also placed in the top five, ranking fifth overall. Rent in Fargo accounts for about 16.9% of median income, reinforcing North Dakota’s presence among the most affordable places for renters.

Other cities in the top rankings include Sioux Falls at No. 2, where rent averages about 16.4% of income, and Cedar Rapids at No. 3, where residents spend about 16.5%. Charleston ranked fourth.

WalletHub said it compared median annual gross rent with median household income in each city to determine affordability. The findings come as rental costs have risen more than 50% over the past decade, according to the Consumer Price Index, mirroring increases in home prices during the same period. Wages, however, have not grown at the same pace, making housing more difficult to afford in many parts of the country.

“In the most affordable cities for renters, the median cost of rent is as low as 15% of the median income, compared to nearly 34% in the most expensive cities,” said Chip Lupo. “This gives people in the least expensive cities a clear financial advantage; the money they save on rent could go toward their emergency fund or savings for future home ownership.”

Cities Where Rent Is the Most Affordable