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Sioux Falls Almost Beat Multifamily Construction Record

Digested from “Multifamily building boom not over yet”
Argus Leader (3/25/15) Schwan, Jodi

Last year, Sioux Falls, Iowa, added 1,062 new apartment units, almost beating the multifamily construction record set in 1977.

So far, the new apartment stock hasn’t affected the area’s vacancy rate too much. According to the South Dakota Multi-Housing Association, January’s vacancy rate was 4.37 percent, compared with a vacancy rate of 4.05 percent in July 2014.

Construction is still going strong in Sioux Falls. Several large apartment communities will open this year and in 2016.

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Publication: 
Industry Insider