SIOUX FALLS, S.D. (KELO.com) — The South Dakota Multi-Housing Association found the July 2022 vacancy report confirmed a vacancy rate of
3.72%.
They surveyed their Sioux Falls area members for its 50th biannual vacancy survey. From the reported data, the 3.72% rate is up slightly from the January 2022 reported vacancy rate of 3.12%. Jill Madsen, Chair of South Dakota Multi Housing Association says “The data shows, evident in this vacancy report, there is a shortage of housing and more building is needed to meet future demand.”
In a nationwide survey recently completed by the National Apartment Association, the U.S. needs to build 4.3 million apartments by 2035 to meet future demand and address the current apartment deficit.
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