From staff reports

Despite multiple new apartment projects in Sioux Falls, vacancy dropped in the first half of the year.

The South Dakota Multi-Housing Association found the July vacancy was 6.45 percent, down from 7.61 percent at the start of the year.

“The vacancy survey information is highly regarded by many in the rental, banking and appraisal industries”, said Brian Majerus, president of the association. “This information reflects the rental market in the Sioux Falls MSA as well as current market rents.”

There are more apartments coming to the market. Through July, the city issued permits for 565 units, down from 1,263 in the previous year. Several large projects have been announced but permits have not been issued yet.