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Sioux Falls Vacancy Rates Tumble As Fewer Move

October 29, 2011, 10:27 AM

SIOUX FALLS, SD - Vacancy rates for apartments in South Dakota's largest city have tumbled this year as more people hold onto their current living arrangements.

The trend of fewer people moving is a local and national phenomenon. Slower growth rates are prompting Sioux Falls planning officials to read just five- and 10-year projections.

The Sioux Falls Planning Department's Jeff Schmitt says projections have been changed from 3,000 to 3,500 new residents a year down to around 2,500. He says the department is projecting that number as the new normal.

In the past 30 years, Sioux Falls has grown 24 percent each decade. South Dakota saw fewer out-of-state residents move in during a three-year period from 2008 to 2010 compared to the previous three years.

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