Building permit report shows signs of Rapid City growth

RAPID CITY, S.D. (KEVN) - There are signs out there that may indicate that Rapid City is growing. The combined building permits valuation from January through March reached more than 95 million dollars with 471 permits issued.

Since 2000, it is the fourth-highest valuation total for the first three months of a year.

Last year, the valuation total for building permits in the first three months eclipsed more than 117 million dollars.

Ironically, this year’s total valuation in March only reached a little more than 15 million dollars with 153 permits given, marking it as one of the lowest valuation totals in recent years.

However, in 2023, March’s valuation was more than 61 million dollars, the second highest ever in the town’s history.

Vicki Fisher says despite last month’s low numbers, there are signs that the town is experiencing growth.

“There was a time when we had such a low market in housing availability and what we’re seeing is there that housing market has increased. And hopefully, as a result, we’ll continue to see some of the rents come down,” Fisher said.

Last month, the permits for several apartments around town combined for more than 2 million dollars in valuation.

In addition, the Shepherd Booster station received a permit of more than five million dollars.

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