Majority of people finding the Black Hills home are 65+

RAPID CITY, S.D. (KOTA) - The U.S. Census Bureau’s recent population estimates from 2020 to 2022, finds Pennington County saw 4,900 new people call the county home.

Elevate Rapid City President/CEO, Tom Johnson says the good news is more people are moving to the Black Hills region. If you include population growth from the whole Black Hills area, about 12 people moved to the Black Hills per day, from 2020 to July 2022. However, Johnson reiterates what we have been seeing in Rapid City, the need for affordable housing. The first issue that developers must tackle is ensuring there is infrastructure for housing.

“If a developer has to spend 60 to 80 to $100,000, just on the lot then you add the house on top of that. That can be quite costly. That’s why we’re seeing prices in the Black Hills for single-family homes upwards of $275,000 to $350,000, we’re still seeing some of that pressure,” explains Johnson.

If infrastructure is already built the cost to the developer will be less, creating a more affordable option for housing. Johnson tells KOTA Territory he expects Rapid City to receive $20 million of the $200 million passed in legislature for affordable housing.

The people moving to Rapid City are older. Johnson says nearly 65% of the people moving to the Black Hills are 65 and older. This means Rapid City is in constant competition for workers.

“In the next generation of planning and the next generation of workforce, they want to see a denser development. With all of their amenities right there, and if Rapid City is going to continue to compete for that worker, we’re going to have to do that too,” said Johnson.

Johnson reveals Elevate is currently working with commercial developers interested in taking their business to downtown Rapid City. Some businesses interested in opening their doors may be names you are familiar with.

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