Vacancy Rate drops In the Sioux Falls Area
The South Dakota Multi-Housing Association’s 47th bi-annual vacancy survey of its members has been completed. Of the reported data, the January 2021 vacancy report confirms a vacancy rate of 6.64%. Over a one percent decrease from the July 2020 reported vacancy rate of 7.91%.
“Our members are very resilient. Utilizing online leasing and self guided tours to accommodate prospective residents during the pandemic. In a way it has been a blessing, forcing many of us to use technology for more than advertising.” Said Todd Hollan, Chair of South Dakota Multi Housing Association.
“Sioux Falls continues to see growth in additional units being built. The City saw a record number of building permits for multifamily in 2020 and according to January, 2021 will be a record year as well.” said Hollan.
South Dakota Multi-Housing Association performs the vacancy survey of its members in January and July each year.
South Dakota Multi-Housing Association is a membership organization dedicated to advancing the residential rental community by providing leadership, education, advocacy and partnerships.
For more information about South Dakota Multi Housing Association, please visit http://www.sdmha.com