Apartment vacancy rate jumps in Sioux Falls

Feb. 16, 2018

The apartment vacancy rate in Sioux Falls grew to 10.7 percent, according to a  survey of South Dakota Multi-Housing Association members.

The rate one year ago was 7.6 percent. In July 2017, it was 6.5 percent.

The city issued building permits for 1,215 apartment units last year, including several large projects that will put units on the market this year.

“With more rental units opening up the end of 2017, vacancy rates did increase as market supply went up. But with the record growth in Sioux Falls, we know the need for units will also increase,” said Paul Gourley, chair of the state association.

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Apartment vacancy rate jumps in Sioux Falls

Vacancy for Sioux Falls apartments is up 4 percentage points in six months.

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