Black Hills Regional Housing Study takes a look at projected growth for the region

RAPID CITY, S.D. (KEVN) - EElevate Rapid City hosted a luncheon at The Monument to discuss the 2022 Black Hills Regional Housing Study. Thursday’s luncheon focused on projected growth between now and 2030 which the group says will be almost a 19 percent jump.

COVID, a favorable tax climate, and job growth, including the Ellsworth Air Force Base expansion were all listed as potential factors. The study released by The Rapid City Strategic Housing Coalition does say that after 2030, the population growth “will settle back to strong but moderately lower rates.”

Laura Jones, the Housing and Community Development manager, stated “So, with projected growth within the next eight years, we’re looking at probably nine thousand households coming into the community. That includes the whole I-90 corridor and surrounding communities outside of Rapid City.”

With so many people projected to move into the area the price of housing has become an issue. According to the study, many Rapid City rents are around 15 hundred dollars a month. With a 30 percent standard for housing median rent should be closer to 11 hundred dollars.

“I think what is being missed is the affordable housing that is coming. It’s not as glamorous as Block 5 or the Elements. Those are exciting downtown developments. So, they’re going to be on the forefront of everyone’s mind as when they think of the housing that is being built,” Jones said.

A key takeaway from the study is with Rapid City’s aging population, household sizes are decreasing, which in turn leads to an increase in the number of house needed.

2022 Black Hills Regional Housing Study

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