By Engel & Völkers Big Sky Country
There are a lot of factors to consider when deciding where you want to buy real estate. Whether it’s for personal use or a profit-driven development, keeping an eye out for emerging markets and trending cities is usually a good place to start. Rapid City, South Dakota checks both of those boxes – and more.
According to the Wall Street Journal and Realtor.com’s Spring 2022 Emerging House Markets Index Report, South Dakota’s Rapid City is at the top of the list when it comes to the hottest markets in the U.S. There are plenty of good reasons why it snagged the top spot, including housing affordability, low unemployment rate, stunning natural landscapes, and a variety of attractive amenities.
As the fastest-growing city in the Midwest, Rapid City should be a contender in every savvy investor’s land search. Aside from this burgeoning metropolitan area and thriving economy, there are many reasons to consider South Dakota as a promising investment. Here are some of the big ones.
1. Low Cost of Living
South Dakota ranks as one of the country’s most taxpayer-friendly states thanks to low city taxes and no individual income tax. Add a strong economy and an affordable real estate market to the mix, and you get a state that is well-suited for development and long-term investments.
2. Ample Farmland
As with most Midwest states, South Dakota is definitely not short on farmland. However, it stands out in terms of parcel size, boasting an average acreage that is three times the size of the standard American farm. If you’re looking for agricultural land, you should have no trouble finding a property that meets your needs.
3. Growing Populations
In Rapid City and beyond, South Dakota is seeing an influx of businesses, buyers, and families. This population growth has played a big role in expanding the economic landscape of a state that is well-suited to support vast amounts of residential and commercial development.
Don’t miss out on South Dakota real estate opportunities! There’s something for everyone in the great Mount Rushmore State and no better time than now to make your move.
Featured Property: Selador Ranch
As far as investment opportunities go, it doesn’t get much better than the Selador Ranch, a nearly 4,300-acre pristine property spanning Rapid City’s north and west boundaries.
Listed just under $45 million, the property has been used as a family-owned cattle ranch since 1956 and is now offering potential buyers an unbeatable chance to get in on South Dakota’s developing economy. Potential uses include luxury estates, equestrian properties, and resort-style communities, as well as entry-level residential neighborhoods and light industrial or commercial developments.
The Selador Ranch is comprised of three individual parcels, each centrally located and well-poised for development. Among its rolling hills, you’ll find meadows, creek-fed reservoirs, and a variety of local trees, plus easy access to key Rapid City locations.
Make your mark on the fastest-growing mid-size city in the Midwest! All three parcels of Selador Ranch are listed with Engel and Volkers and are available for purchase.
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