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Sioux Falls Growth-Apartments

Sioux Falls Growth-Apartments
Apartments set record high number in Sioux Falls
The Associated Press - October 12, 2017

SIOUX FALLS, S.D. - Apartment builders in Sioux Falls saw a record year in 2016, adding more rental housing than in any single year in the city's history.

The Argus Leader reports that building permits filed with the city show the number of apartments added last year spiked to nearly 1,600.

Developers say the industry's future is moving toward fewer but more grandiose apartment projects. Sioux Falls apartment complexes are growing in size because developers say they're opting for bigger lots outside of town.

Housing officials say an increase in demand for rentals is due to young professionals who want to avoid the debt that can come with home ownership. Officials say there's also demand from retirees looking to downsize.



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