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Featured local agent — Rapid City, MI
Sarah Mitchell
Compass Real Estate · Rapid City, MI
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Rapid City, MI Housing Market & Real Estate
Housing market overview · Updated monthly ·
$264,732median sale price
How is the Rapid City, MI housing market right now?
The median home sale price in Rapid City, MI is $264,732, down 13.5% year-over-year. Homes sell in an average of 39 days with 9 active listings. The market is currently a balanced market. (Source: Redfin monthly MLS data, as of May 2026 — the most recent Redfin release; Redfin publishes each month's data on a ~6-week lag.)
Is Rapid City a buyer's or seller's market?
Rapid City, MI is currently a balanced market, based on 4.5 months of supply and homes selling in about 39 days. How we determine this →
Homes sold
2
Last 12 weeks
Days on market
39
Average pace
Active listings
9
4.5 months supply
Sale-to-list
98.0%
Below asking
What does the Rapid City housing market data show?
| Metric | Value |
|---|---|
| Median sale price | $264,732 |
| Median list price | $631,500 |
| Year-over-year price change | -13.5% |
| Average days on market | 39 days |
| Active inventory | 9 listings |
| Months of supply | 4.5 months |
| Sale-to-list price ratio | 98.0% |
| Median price per sq ft | $230/sq ft |
| Homes sold (latest month) | 2 |
| New listings (latest month) | 2 |
| Listings with a price cut | 66.7% |
| Market condition | Balanced market |
Source: Redfin · Updated monthly
How much do homes cost in Rapid City by property type?
How the Rapid City, MI market breaks down across single-family homes, condos, and townhouses.
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $264,732 | $230/sq ft | 2 | 39 days |
Source: Redfin · Updated monthly
The Rapid City housing market is currently classified as a balanced market with a median sale price of $264,732. Prices have fallen 13.5% compared to last year, with homes spending an average of 39 days on market, indicating 4.5 months of inventory.With limited inventory, homes sell quickly and buyers should be prepared to act decisively and competitively to secure a property.The price-to-income ratio of 5.8x provides context for how home values compare to local earning capacity.
Homes for sale in Rapid City
There are currently 9 homes listed for sale in Rapid City, Michigan. The median listing price is $632K.
Active listings
9
Homes on market
Median list price
$632K
Avg. days on market
39
Days until sale
New this week
2
Newly listed
Who lives in Rapid City?
Population
1,315
Median income
$65,438/yr
Median age
51.6 years
Owner-occupied
86.3%
College grads
13.0%
Avg commute
24.8 min
Source: U.S. Census Bureau ACS
What are homes worth in Rapid City?
Zillow home value
$377,832
Price-to-income
5.8x
Source: Zillow Research
What is it like to live in Rapid City?
Rapid City is a community of approximately 1K residents with a median age of 51.6 years.The median household income is $65,438, which represents a working-class community with solid middle-income opportunities. 13.0% of residents hold a bachelor's degree or higher, showing a mixed educational demographic.
Homeownership rates are at 86.3%, reflecting strong community stability and long-term resident commitment. The average commute time is 24.8 minutes, which makes this an excellent choice for those seeking short commutes to employment centers.Overall, Rapid City offers a balanced lifestyle with accessible home values relative to local income levels.
Which public schools serve Rapid City?
1 schools tracked · 85 students
The largest public schools serving Rapid City, MI by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
Rapid City Elementary School
Grades PK-5 · 85 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Which cities are near Rapid City, MI?
Want a head-to-head view? Compare Rapid City side-by-side with any other U.S. city using our market-comparison tool.
Frequently asked questions
What is the average home price in Rapid City?
The median home sale price in Rapid City is $264,732, down 13.5% from last year.
How long do homes stay on market in Rapid City?
Homes typically spend 39 days on market before going under contract.
What is the median income in Rapid City?
The median household income is $65,438 per year.
Is Rapid City a buyer's or seller's market?
With 4.5 months of supply, Rapid City is currently a balanced market.
What is the Zillow home value estimate for Rapid City?
The Zillow Home Value Index (ZHVI) for Rapid City is $377,832, representing the typical home value in the area.
How much does a single-family home cost in Rapid City?
The median single-family home price in Rapid City, MI is $264,732 (about $230 per square foot).
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