New Housing Construction Boom Hits South Dakota, Minnesota
New numbers just released show that new homes are going up at a record pace in South Dakota and Minnesota.
Sioux Falls is number-three among small/midsize housing markets on the list of U.S. Cities Building the Most Homes.
South Dakota's largest city trails only a pair of Florida cities on the list with 46.2 new housing units per 1,000 existing homes. That's a whopping 56.5 percent increase from 2020.
Sioux Falls added 5,554 new homes in 2022.
SMALL/MIDSIZE METROS BUILDING THE MOST HOUSES
(new housing units per 1k existing homes)
- The Villages, Florida 57.1
- Punta Gorda, Florida 50.0
- Sioux Falls, South Dakota 46.2
- St. George, Utah 40.5
- Sherman/Denison, Texas 37.0
- Warner Robins, Georgia 31.1
- Clarksville, Tennessee/Kentucky 30.7
- Wilmington, North Carolina 29.9
- Auburn/Opelika, Alabama 28.2
- Brunswick, Georgia 27.2
Rapid City landed just outside the top ten at number 13 with 26.1 new housing units per 1,000 existing homes.
The Minneapolis/St. Paul market is among large metros with 15.5 new housing units per 1,000 existing homes, an increase of six percent from 2020.
As a state, South Dakota is third overall with 9,421 new homes added in 2022 or 23.3 new housing units per 1,000 existing homes. Minnesota ranked 16th. Iowa was 27th.