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16 Sep, 2025
Analysis | Latest
Sioux Falls Growth Outpaces Self Storage Demand
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Written by James McLean

James McLean is the Head of Business Development at Radius+. James helps maintain external relationships with clients and assisting internally with the sales process. He also, manages internal data processes working alongside the operations team to ensure we are supporting high level data quality.

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Sioux Falls, South Dakota is one of the fastest growing cities in the midwest. This week the Radius+ team dug in to figure out why and how it was affecting the Self Storage market there.

Per an article from SDPB.com Sioux Falls, SD’s population is nearing close to a quarter million. The most populated city in the state has also issued over 6,000 building permits, estimating over $1 Billion dollars in construction value.

Self Storage developers must have seen the grown ahead of time as historically this market has seen significant supply added in 2022 and 2023

  • In 2022 9% new supply relative to total supply was added
  • In 2023 7.2% new supply relative total supply was added

However, negligible new supply has been delivered in 2024 and 2025 as well as very little projects in the development pipeline signaling that despite the economic growth in the area- demand still needs to catch up to the new supply.