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Featured local agent — Rapids City, IL
Sarah Mitchell
Compass Real Estate · Rapids City, IL
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Rapids City, IL Housing Market
The typical home in Rapids City, IL is worth $248,522, rose 9.7% over the past year (Zillow Home Value Index, August 2026). The last median sale price Redfin published was $370,000 (through May 2026). With homes going under contract in about 49 days, Rapids City is a balanced market. At today's 7.03% 30-year fixed rate, 20% down on a $248,522 home is about $1,327/mo in principal and interest.
Key numbers for Rapids City, IL
Typical home value
$248,522
+9.7% in 12 months
Zillow, August 2026
Median sale price
$370,000
Last published period
Redfin, through March 2026
Days on market
49
Average pace
Redfin, through March 2026
30-yr fixed rate
7.03%
Freddie Mac weekly average
Freddie Mac via FRED, September 2026
Median household income
$90,750
Home costs 2.7x income
U.S. Census ACS, 2023
Sale-to-list ratio
98.7%
Selling below asking
Redfin, through March 2026
Zillow figures are as of August 2026 and refresh monthly. Redfin figures are through May 2026 — Redfin stopped publishing its public market trackers in June 2026, so those numbers are final, not current. Mortgage rates come from Freddie Mac via FRED and update weekly.
Is Rapids City a buyer's or seller's market?
Rapids City, IL is a balanced market and homes selling in about 49 days. We classify markets from months of supply, sale-to-list ratio and days on market together — no single number decides it.
Inputs are Redfin's final published period (May 2026). How we classify markets · Where the data comes from
What does the Rapids City housing market data show?
Every row below is Redfin's final published month for Rapids City, IL. Redfin, through March 2026
| Metric | Value |
|---|---|
| Median sale price | $370,000 |
| Median price per sq ft | $254/sq ft |
| Median days on market | 49 days |
| Sale-to-list price ratio | 98.7% |
| Homes sold (that month) | 1 |
| Market condition | Balanced market |
How to read these numbers
- Median sale price
- Half the homes that closed sold for more than this, half for less. It moves with what kind of home sold that month, so a quiet month with two big sales can swing it. Redfin's figure for Rapids City is frozen at May 2026.
- Typical home value (ZHVI)
- Zillow's estimate of what a mid-market home in Rapids City is worth right now, whether or not it sold. It is smoother than the median sale price and it still refreshes monthly, which is why this page leads with it.
- Months of supply
- How long it would take to sell every active listing at the current pace. Under 3 favors sellers, over 6 favors buyers, and 3 to 6 is the balanced band.
- Days on market
- Median time from listing to accepted offer. Short means you should have financing ready before you tour; long means there is room to negotiate on price and repairs.
- Sale-to-list ratio
- Sale price divided by the last asking price. Above 100% means bidding above asking is normal here; below 100% means the typical buyer got a discount.
- Price per square foot
- The size-adjusted price. Use it to compare a 1,400 sq ft house to a 2,600 sq ft house, not to value your own home — lot, condition and age move it a lot.
- Listings with a price cut
- Share of active listings that dropped their asking price in the month. A high share is the earliest visible sign that sellers are ahead of what buyers will pay.
- Typical asking rent (ZORI)
- Zillow's repeat-rent index for asking rents on new leases. Paired with the home value it gives the price-to-rent ratio in the rent-vs-buy section below.
How have Rapids City home prices moved?
Over the last three years the median sale price in Rapids City, IL rose 20.7%, from $306,515 to $370,000. The live Zillow value series has rose 9.7% in the last 12 months, which is the more current read now that Redfin's series has stopped.
Redfin, through March 2026 — the chart ends at Redfin's final published month.
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What does it cost to buy a home in Rapids City?
Priced off the typical home value of $248,522 at the current 7.03% 30-year fixed rate. These are principal and interest only — property taxes, homeowner's insurance, HOA dues and mortgage insurance are on top, and they vary enough by property that we will not guess them for you.
| Down payment | Cash at close | Loan amount | Monthly P&I |
|---|---|---|---|
| 20% | $49,704 | $198,817 | $1,327/mo |
| 5% | $12,426 | $236,096 | $1,576/mo |
Zillow, August 2026 for the price · Freddie Mac via FRED, September 2026 for the rate
What income do you need?
Lenders generally want housing costs under 28% of gross income. On the 20%-down payment of $1,327, that implies roughly $56,861 a year before you add taxes and insurance. The median household in Rapids City earns $90,750, about $33,889 more than that threshold — the typical local household clears the payment on a typical local home with 20% down. That puts the price-to-income ratio at 2.7x — close to the historical 3x norm, which is unusual in 2026.
Run it with your own numbers: affordability calculator · mortgage calculator
Buying in Rapids City in the next 12 months?
Tell us your timeline. We send the Rapids City market brief: the price ranges that actually clear, how long homes sit, and what to fix on your credit before you apply.
Is it cheaper to rent or buy in Rapids City?
Zillow does not publish a rent index (ZORI) for Rapids City, IL, so we cannot compute a price-to-rent ratio here without borrowing a nearby market's rents and calling them local — which we will not do. The rent vs. buy calculator works with a rent figure you supply.
Is inventory rising or falling in Rapids City?
Active listings in Rapids City, IL went from 4 in November 2024 to 2 in February 2026, a -50.0% change. Falling inventory tightens competition. When supply drops while demand holds, sale-to-list ratios rise before the median sale price does.
| Month | Active listings | New listings |
|---|---|---|
| January 2025 | 3 | 1 |
| February 2025 | 2 | not published |
| May 2025 | 6 | 2 |
| June 2025 | 6 | 2 |
| July 2025 | 6 | 1 |
| August 2025 | 7 | 3 |
| September 2025 | 7 | 1 |
| October 2025 | 5 | 1 |
| November 2025 | 3 | 2 |
| December 2025 | 2 | 2 |
| January 2026 | 1 | not published |
| February 2026 | 2 | 1 |
Redfin, through February 2026
How does Rapids City compare to Illinois and the U.S.?
Rapids City homes sell for $370,000 — 9% above the Illinois median of $337,900. Against the national median of $410,700, Rapids City runs 10% lower.
| Market | Median sale price | YoY | Days on market |
|---|---|---|---|
| Rapids City, IL | $370,000 | not published | 49 days |
| Illinois statewide | $337,900 | +5.9% | 43 days |
| United States | $410,700 | not published | not published |
City and state rows: Redfin, through March 2026 · U.S. row: Freddie Mac via FRED, April 2026 (MSPUS, quarterly)
What to do next in Rapids City
What buyers should watch
- The gap between 5% and 20% down here is $249 a month in principal and interest alone, before mortgage insurance. That gap, not the price, is usually what decides your timeline.
- Rate moves. At 7.03%, every full point of rate change moves the payment on a $248,522 home more than a 5% price change does.
- Your credit tier before you shop, not after — it sets the rate you are quoted. Run your numbers first.
What sellers should know
- The median Rapids City listing goes under contract in 49 days. If yours passes that mark, the market is telling you the price is wrong — not that you need more showings.
- Homes here close at 98.7% of asking. Price to that ratio from day one rather than chasing the market down in cuts.
- Your equity moved +9.7% in the last 12 months on the Zillow value series. That, not the price you paid, is what sets your net proceeds.
- Comparable ZIP-level pricing inside Rapids City varies more than the citywide median suggests — check the ZIP pages below before you set a number.
Homes for sale in Rapids City
Explore homes currently listed for sale in Rapids City, Illinois across major real estate platforms.
How much do homes cost in Rapids City by property type?
How the Rapids City, IL market breaks down across single-family homes, condos and townhouses. Redfin, through March 2026
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $370,000 | $254/sq ft | 1 | 49 days |
| Townhouse | $620,000 | $148/sq ft | 1 | 30 days |
Who lives in Rapids City?
American Community Survey estimates for Rapids City. U.S. Census ACS, 2023
Population
1,012
Households
409
Median income
$90,750/yr
Median age
46.3 years
Owner-occupied
96.6%
Median home value
$207,600
Mean commute
20.1 min
96.6% of occupied homes in Rapids City are owner-occupied, and the rest are rented — which is the share that decides how much of the local housing stock ever reaches the for-sale market. The Census self-reported median home value is $207,600 against Zillow's $248,522 typical value; the gap is normal — ACS asks owners what they think their home is worth, Zillow models transactions.
Which cities are near Rapids City, IL?
Ordered by distance from Rapids City, not by size. Compare Rapids City side by side with any of them.
Rapids City housing market FAQ
Is Rapids City a buyer's or seller's market?
Rapids City, IL is currently a balanced market based on the supply, pace-of-sale and sale-to-list data we hold for this city. Redfin's public market tracker last published in May 2026, so this classification will not move until a new source fills that gap.
How much do homes cost in Rapids City?
The typical home in Rapids City, IL is worth $248,522 (Zillow Home Value Index, August 2026). The median sale price in the last month Redfin published was $370,000, about $254 per square foot.
Is Rapids City cheaper than the rest of Illinois?
Rapids City's median sale price of $370,000 is 9% higher than the Illinois statewide median of $337,900, and 10% below the U.S. median of $410,700. Both figures are for the same period.
How long do homes take to sell in Rapids City?
Homes in Rapids City, IL spent a median of 49 days on market before going under contract, versus 43 days statewide. That is a normal pace: enough time to see a home twice, not enough to wait a month. (Redfin, through May 2026.)
What income do you need to buy a home in Rapids City?
At the current 30-year fixed rate of 7.03%, 20% down on a $248,522 home is about $1,327 a month in principal and interest. Lenders typically want that under 28% of gross income, which works out to roughly $56,861 a year before taxes, insurance, HOA dues or mortgage insurance. The local median household income is $90,750.
Are home prices rising in Rapids City?
The typical home value in Rapids City, IL rose 9.7% over the last 12 months, from $226,567 to $248,522 (Zillow, August 2026). This is the live series — it refreshes monthly.
What are the cheapest ZIP codes in Rapids City?
Rapids City ZIP-level sale prices are not all published for the same period, so ranking them would compare different months. The ZIP pages listed on this page show what we hold for each one individually.
Is now a good time to buy in Rapids City?
That depends on your timeline, not on a headline. What the data says today: Rapids City, IL is a balanced market, the 30-year fixed rate is 7.03%. Properties Incorporated publishes the data; it does not give financial advice.
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