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.

The report, from Construction Coverage, factors in data from Zillow and the U.S. Census Bureau and it shows just how busy builders have been over the past three years.

Sioux Falls is number-three among small/midsize housing markets on the list of U.S. Cities Building the Most Homes.

[brtandedapppromo]

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)

1. The Villages, Florida 57.1
2. Punta Gorda, Florida 50.0
3. Sioux Falls, South Dakota 46.2
4. St. George, Utah 40.5
5. Sherman/Denison, Texas 37.0
6. Warner Robins, Georgia 31.1
7. Clarksville, Tennessee/Kentucky 30.7
8. Wilmington, North Carolina 29.9
9. Auburn/Opelika, Alabama 28.2
10. 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.