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Featured local agent — Rapid City, SD
Sarah Mitchell
Compass Real Estate · Rapid City, SD
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Rapid City, SD Housing Market & Real Estate
Housing market overview · Updated monthly ·
$365,000median sale price
How is the Rapid City, SD housing market right now?
The median home sale price in Rapid City, SD is $365,000, down 1.1% year-over-year. Homes sell in an average of 60 days with 373 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, SD is currently a balanced market, based on 3.5 months of supply and homes selling in about 60 days. How we determine this →
Homes sold
108
Last 12 weeks
Days on market
60
Average pace
Active listings
373
3.5 months supply
Sale-to-list
98.5%
Below asking
What does the Rapid City housing market data show?
| Metric | Value |
|---|---|
| Median sale price | $365,000 |
| Median list price | $379,900 |
| Year-over-year price change | -1.1% |
| Average days on market | 60 days |
| Active inventory | 373 listings |
| Months of supply | 3.5 months |
| Sale-to-list price ratio | 98.5% |
| Median price per sq ft | $211/sq ft |
| Homes sold (latest month) | 108 |
| New listings (latest month) | 115 |
| Listings with a price cut | 16.6% |
| Market condition | Balanced market |
Source: Redfin · Updated monthly
How much do homes cost in Rapid City by property type?
How the Rapid City, SD market breaks down across single-family homes, condos, and townhouses.
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $369,500 | $211/sq ft | 97 | 60 days |
| Condo / Co-op | $310,000 | $217/sq ft | 1 | 225 days |
| Townhouse | $345,000 | $269/sq ft | 9 | 53 days |
Source: Redfin · Updated monthly
The Rapid City housing market is currently classified as a balanced market with a median sale price of $365,000. Prices have fallen 1.1% compared to last year, with homes spending an average of 60 days on market, indicating 3.5 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 5.6x provides context for how home values compare to local earning capacity.
Homes for sale in Rapid City
There are currently 373 homes listed for sale in Rapid City, South Dakota. The median listing price is $380K.
Active listings
373
Homes on market
Median list price
$380K
Avg. days on market
60
Days until sale
New this week
115
Newly listed
Who lives in Rapid City?
Population
76,836
Median income
$65,712/yr
Median age
39 years
Owner-occupied
61.6%
College grads
36.4%
Avg commute
17.4 min
Source: U.S. Census Bureau ACS
What are homes worth in Rapid City?
Zillow home value
$367,620
Zillow rent index
$1,443/mo
Price-to-rent ratio
21.2x
Price-to-income
5.6x
Source: Zillow Research
What is it like to live in Rapid City?
Rapid City is a community of approximately 77K residents with a median age of 39 years.The median household income is $65,712, which represents a working-class community with solid middle-income opportunities. 36.4% of residents hold a bachelor's degree or higher, indicating a highly educated population.
Homeownership rates are at 61.6%, showing a blend of owner and renter-occupied properties. The average commute time is 17.4 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?
25 schools tracked · 12,093 students
The largest public schools serving Rapid City, SD 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.
Central High School - 41
Grades 9-12 · 2,020 students
Stevens High School - 42
Grades 9-12 · 1,763 students
Southwest Middle School - 38
Grades 6-8 · 665 students
East Middle School - 30
Grades 6-8 · 611 students
West Middle School - 37
Grades 6-8 · 603 students
Valley View Elementary - 13
Grades K-5 · 584 students
South Middle School - 36
Grades 6-8 · 502 students
Rapid Valley Elementary - 12
Grades PK-5 · 487 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, SD?
Want a head-to-head view? Compare Rapid City side-by-side with any other U.S. city using our market-comparison tool.
Is Rapid City a good real estate investment market?
For investors evaluating Rapid City, the price-to-rent ratio of 21.2x indicates higher purchase prices relative to rental income, typical of appreciation-focused markets. The market has softened 1.1% year-over-year, potentially creating entry opportunities for strategic buyers.Use our rent vs. buy calculator to analyze whether owning or renting makes more financial sense based on Rapid City's current market conditions and your specific situation. Estimate your monthly payment with the mortgage calculator using Rapid City's median home price.
Frequently asked questions
What is the average home price in Rapid City?
The median home sale price in Rapid City is $365,000, down 1.1% from last year.
How long do homes stay on market in Rapid City?
Homes typically spend 60 days on market before going under contract.
What is the median income in Rapid City?
The median household income is $65,712 per year.
Is Rapid City a buyer's or seller's market?
With 3.5 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 $367,620, representing the typical home value in the area.
What is the median condo price in Rapid City?
The median condo/co-op sale price in Rapid City, SD is $310,000, compared to $369,500 for a single-family home, based on the latest Redfin data.
How much does a single-family home cost in Rapid City?
The median single-family home price in Rapid City, SD is $369,500 (about $211 per square foot).
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