National Finance Website Calls Sioux Falls a ‘Boomtown’

For years, financial experts have labeled the economy in Sioux Falls as 'recession proof' and once again things in South Dakota's largest city are bucking the national trends.

GoBankingRates.com has Sioux Falls in the top ten of what it considers to be the modern-day American 'Boomtowns'.

With incomes stagnant in a lot of the biggest cities in the United States, the personal finance website sought out places with populations of less than 500,000 with an uptick in economic prosperity, population growth, and rising incomes.

Of the 347 places they considered, Sioux Falls is tenth overall with a population increase of 10.3 percent, an average income bump of 13.2%, a rise in housing of 10.3 percent, and a 23.5 percent increase in gross domestic product (GDP).

The addition of 6,818 new homes since 2012 put Sioux Falls in the top five of the cities on the list.

TOP TEN U.S. 'BOOMTOWNS' (GoBankingRates.com)

1. Naples, Florida
2. Santa Fe, New Mexico
3. Sebastian, Florida
4. Boulder, Colorado
5. Santa Rosa, California
6. Reno, Nevada
7. Fayetteville, Arkansas
8. Raleigh, North Carolina
9. Bismarck, North Dakota
10. Sioux Falls, South Dakota

The rankings are based on five years worth of data on population, housing, GDP, and per capita income from the U.S. Census Bureau’s 2017 American Community and the Bureau of Economic Analysis.