Rapid City issued 203 building permits for single-family dwelling units valued at just over $40 million in 2018, according to figures released this week by the city's Building Services Division.
The total valuation of $40,167,497 was the highest since 2014 when 230 permits with a combined valuation of $42,556,684 were issued. The city has averaged 203 building permits for single-family dwellings for the period of 2012-18 with a valuation average of $39,772,571.
"The housing numbers are holding steady, both in terms of permits issued and the valuation totals," City Community Development Director Ken Young said in a press release. "There is a good foundation for housing growth in Rapid City and the need and demand for more housing in Rapid City remains strong and shows no signs of slowing in the years ahead."