Rapid City, SD housing market
Typical home value
$361K
▲ 1.9% 1 yr
Typical rent
$1,445/mo
▲ 4.6% 1 yr
Gross rent yield
4.8%
U.S. 6.3%
5-year home value change
+27%
U.S. +20%
Key takeaways
- 1The typical home in Rapid City is worth $360,913, up 1.9% over the past year and up 27% over five years.
- 2Typical rent is $1,445 a month (+4.6% YoY), a gross rent yield of 4.8% (above the Rapid City, SD metro's 4.7%).
- 3With 20% down at 7.32%, principal and interest on the typical home is about $1,983/mo, $538 more than typical rent.
- 4Zillow forecasts the Rapid City, SD metro's home values to change +3.7% over the next 12 months.
Market temperature (Rapid City, SD metro)
Buyer's market
Buyer'sNeutralSeller's
Zillow Market Heat Index: 29/100, #458 hottest of 546 metros. Below 44 favors buyers; above 55 favors sellers.
Home values and rent
Source: Zillow Research (ZHVI, ZORI and market activity data).
How Rapid City compares
| Measure | Rapid City | Rapid City, SD metro | United States |
|---|---|---|---|
| Typical home value | $360,913 | $370,125 | $366,157 |
| Home value, 1-yr change | +1.9% | +2.1% | +1.2% |
| Typical rent | $1,445 | $1,457 | $1,932 |
| Rent, 1-yr change | +4.6% | +4.1% | +2.7% |
| Gross rent yield | 4.8% | 4.7% | 6.3% |
| Price-to-rent ratio | 20.8 | 21.2 | 15.8 |
| Mortgage P&I, typical home | $1,983 | $2,034 | $2,012 |
Run the numbers
Rental property calculator
Cash flow on a typical Rapid City rental, pre-filled.
Rent vs buy in Rapid City
Which costs less over the years you'll stay.
Mortgage calculator
Monthly payment on a $361K home.
City figures are Zillow's typical home value (ZHVI) and observed rent (ZORI). Gross yield is before expenses. Data refreshed Oct 26, 2026.