SIOUX FALLS, S.D. (KELO.com) -- The industry group representing apartment and other multi-housing unit owners in the state says vacancy rates for units dropped last month in the city.
The South Dakota Multi-Housing Association says vacancy rates decreased from 10.65 percent in January to 8.37 percent in July.
The organization says the numbers mean that Sioux Falls has a "strong rental market."
For more details, read the SDMHA's news release below.
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Sioux Falls, SD - Sioux Falls area vacancy rate is down in July.
South Dakota Multi-Housing Association has completed a vacancy survey of its members bi-annually for over 20 years. Of the members that reported data, the July 2018 report confirms a vacancy rate of 8.37%. Down 2.28% from the January 2018 reported vacancy rate of 10.65%.
“The Vacancy Survey information reflects the strong rental market within the City of Sioux Falls and surrounding areas,” said Paul Gourley, Chair of South Dakota Multi-Housing Association. “This information is highly regarded by many in the rental, banking and appraisal industries.”
South Dakota Multi-Housing Association is a membership organization dedicated to providing leadership, advocacy, education and professionalism to our residential rental industry members comprised of owners, management and suppliers throughout South Dakota.