Skyrocketing housing costs in South Dakota adding to financial burdens

A construction worker checks the frame of a new townhouse being built in southeastern Sioux Falls.  Apartment construction is running at a hot pace in the two metro areas in South Dakota.

Steadily rising rents across South Dakota are adding further financial hardship to renters who are already facing record gas prices, rising costs for food and utilities and inflationary increases in the overall cost of living.

The rising rents are forcing some potential renters to make tough choices, such as taking on roommates, living longer with relatives or accepting housing with worse conditions or less space than hoped for.

Urban areas of South Dakota are seeing the biggest spikes in rents. The average rent for a 2-bedroom apartment in Pennington County is up 15% from 2020 to 2022, and the monthly cost is up 10% for renters in Meade, Minnehaha and Union counties during that two-year period. Several South Dakota counties are near or above $1,000 a month in average rent for a 2-bedroom apartment.

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