2023: Sioux Falls Adds Residents, Building Permits Top $1 Billion
As more and more people call Sioux Falls home, the amount of money being to keep up with the ever growing population is near record levels.
South Dakota's largest place got even bigger in 2023, according to new figures released by the city.
The population grew by more than 5,000 people last year (5,007) to bring the city's estimated population to nearly 214,000 people (213,891). That's a 2.4 percent increase, which is down slightly from 2021 (+3.5%) and 2022 (+3.1%).
Keeping pace with the growth means a massive amount of money is being spent building new homes, shops, and schools.
Building permits for 2023 in Sioux Falls topped out at more than $1.1 billion ($1,115,671,406). That's the second-highest amount ever.
A total of 7,324 building permits were issued last year, and a record 68,810 inspections were performed, which is an increase of more than 2,000 carried out in 2022.
Other key numbers from the report:
- Total construction valuation decreased by 42.2 percent from 2022, when permits totaled an all-time record of $1,930,003,807, up 75 percent from 2021 and 110 percent from 2020.
- Nearly 20 projects exceeded $10 million. Examples include a large apartment complex downtown, healthcare facilities, industrial buildings, and a new elementary school for the Sioux Falls School District.
- New single-family housing units saw the biggest decline from the past few years. Sioux Falls added 421 new single-family units, down 33.8 percent from 2022 and 50.5 percent% from 2021.
- New townhouses maintained the average, adding 331 units for a total value of $69 million.
- Multi-family housing, which includes non-transient housing such as apartments, independent living centers, congregate living facilities, and condominiums, added 1,930 units, a 42.3 percent decrease from 2022 but a 6 percent increase from 2021.
- Out of $1.1 billion, all categories of housing permits were valued at $282 million, which is lower compared to previous years.
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