Nestled on the western border of South Dakota, Belle Fourche is a growing town that had many success stories in 2023. Among the successes were the completion of an additional 1,500 feet of track added onto the town’s RCP&E rail line, the introduction of a new engineering firm downtown, and the six-million-dollar expansion of a local AG equipment company. However, Belle Fourche’s biggest accomplishment may be the community’s ability to keep up with the growing workforce by creating housing that will allow the area to comfortably grow for years to come.
The Growing Need for Housing
According to the City of Belle Fourche, the population of the town is projected to grow to 6,039 by 2030, a 7.5% increase from 5,617, the recorded population in the 2020 United States Census. This figure is higher than the average national growth rate, which peaks at about 5%.
Not only will more people need housing in the Belle Fourche area, but the need for low-cost housing will also continue to rise. The Census reports that the 2022 median household income in Belle Fourche was $55,448. Using 30% of their income, a household could afford approximately $1,386 per month in housing costs.
A lack of affordable housing not only negatively affects families and individuals in the community but can also hamper overall workforce retention and recruitment efforts, hindering a city’s economic growth and vitality. Addressing the need for accessible housing is essential for fostering a community where everyone can thrive.
Building Dreams Through Housing Development
Vanocker Development is one of the firms that have risen to meet the expanding need for housing. With the expected acquisition of 40 acres of land in Belle Fourche, the company will build Bunkhouse Development, a subdivision containing up to 120 lots. In addition to providing housing for hundreds of residents, it will offer a park and other community amenities that will make Belle Fourche a more inviting place to live and raise a family.
Shaping Tomorrow Through Neighborhood Revitalization
In Belle Fourche’s central region, the recent delivery of a new state-of-the-art Governor’s Home is further inspiring the neighborhood’s revitalization efforts. The project is made possible by NeighborWorks, an organization dedicated to providing affordable housing to the communities it serves. The home contains high-end finishes and features such as stainless-steel appliances and under cabinet lighting to add style and sophistication to affordable housing.
NeighborWorks is currently in the process of building additional housing throughout Belle Fourche that is expected to be completed in 2024.
A Catalyst for Growth
Housing projects not only serve to provide homes for those in the community, but to also generate employment opportunities and, in turn, stimulate the local economy. From construction workers to electricians to property managers, these new Belle Fourche housing developments will help to provide financial security and economic growth for area families and local businesses for generations to come.
Like other economic development organizations in western South Dakota, The Belle Fourche Development Corp. is instrumental in fostering innovation, attracting businesses and talent, and creating opportunities for businesses and residents alike.
To learn more about how you can benefit from a partnership with a local economic development organization and grow your business in South Dakota, contact the Rushmore Region Economic Development Alliance today.
