Sioux Falls ranked among easiest places to build apartments

From staff reports

A new study shows Sioux Falls is one of the best cities for creating needed apartments.

The metro area ranked No. 10 out of 50 for ease of adding necessary new apartments, according to research from Hoyt Advisory Services commissioned by the National Multifamily Housing Council and the National Apartment Association.

The study looked at factors including local regulations and the amount of land available to develop.

“The Sioux Falls metro area will need all types of apartments and at all price points,” said Brian Majerus, president of the South Dakota Multi-Housing Association. “Sioux Falls apartment developers, owners and managers and their residents contribute $579.1 million to the local economy annually, and that number is expected to rise with increased demand.”

The top five easiest cities to build apartments are New Orleans, Little Rock, Kansas City, Indianapolis and St. Louis.

The same organization recently released a report that said the Sioux Falls area will need 4,661 new apartment units by 2030 to keep up with demand.

That’s a 27 percent increase from the current inventory, ranking the metro area No. 13 out of 50 areas studied for apartment demand.

Study: Sioux Falls apartment demand ranks high nationally

Sioux Falls ranked among easiest places to build apartments

A new study shows Sioux Falls is one of the best cities for creating needed apartments.

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