The story of this market
The typical home in Rapid City, South Dakota sells for about $412,000, or $205 per square foot.
Prices are down 2.44% from a year ago, which gives buyers more room to negotiate. Homes take about 46 days to sell. HUD's fair market rent for a two-bedroom is $1,200 a month.
Monthly price momentum
Home values since 2015
+4.8%
SD · past 12 months
Freddie Mac House Price Index, single-family homes, monthly through 2026-08. Each line starts at 100 in January 2015, so a reading of 180 means prices are up 80% since then.
Rapid City, South Dakota
The Rapid City housing market is currently experiencing a period of stabilization with a median listing price of $412,000. Sales are occurring at approximately 99% of the asking price, indicating a balanced market environment. Recent data shows a slight year-over-year price decline, reflecting broader regional economic adjustments.
No ARED county foreclosure postings attributed to Rapid City yet — the verified ledger covers every county the foreclosure ingest has read, attributed by published city area. Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.
Deterministic aggregate of 2 researched ZIP reports — sales_count-weighted (population fallback); per point, children lacking the value or its weight are excluded. Tax rates, sentiment and context notes are tier-native and never roll.
Median prices moved down 1.1% year over year.
Homes spend a median of 75 days on market with 3.8 months of supply — a balanced-paced market.
15% of listings have cut prices · homes sell at 98.2% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) — a stable, low-distress profile.
The amenity base that shapes daily life and property demand in this city — what residents actually live with, and what the pipeline is adding.
A public golf facility serving the local community.
A major regional outdoor recreation anchor providing extensive trail and wilderness access.
The primary regional shopping destination for the city and surrounding areas.
A central downtown gathering space used for community events and seasonal activities.
A protected natural area offering hiking and scenic views of the city.
Data sourced from HJN community profile and Census Bureau profile.
No public schools report a street address in this area. Source: NCES EDGE public school locations 2023-24.