Rapid City
South Dakota · Ranked #175 of 373 metros
78Affordable
💡
Housing in Rapid City costs 4.17× the median income, below the national average of 4.5×. The median home price is $322K and median rent is $1,125/month. Rapid City ranks #175 of 373 metros for affordability.
Median Home Price
🏠$322K
Need $95K income
Median Rent
🔑$1,125
Need $45K income
Building Permits
🔨1,553
annual
Median Income
💰$77K
Pop: 164,521
Rent Burden
⚠️20.2%
of renters paying >30%
Homeownership
🏡70.0%
Rent Burden
vs. National Average
Key Facts vs. National Average
| Metric | Rapid City | National |
|---|---|---|
| Price-to-Income Ratio | 4.17x | 6.1x |
| Rent Burden | 20.2% | 31.5% |
| Homeownership Rate | 70.0% | 65.5% |
| YoY Rent Change | 0% | +2.8% |
| Mortgage Denial Rate | 0.0% | 13.5% |
| Eviction Rate | 0.0% | 3.6% |
House Price Index (2000–2025)
FHFA All-Transactions HPI
Since 2019: +69.2%Since 2000: +241.6%
HUD Fair Market Rents (FY2026)
Section 8 voucher payment standards
Studio$921/mo
1 Bedroom$1,018/mo
2 Bedroom$1,336/mo
3 Bedroom$1,743/mo
4 Bedroom$2,178/mo
Zillow Market Data
Home Value (ZHVI)
$365K
1yr: +2.3%5yr: +41.8%
Rent (ZORI)
$1,331/mo
1yr: +2.7%5yr: +35.9%
Note: ZORI reflects current listing prices and may differ from the Census ACS median rent shown above, which captures what renters actually pay including below-market and subsidized units.
Redfin Market Activity
Median Sale Price
$342K
Active Inventory
582
Days on Market
100
Sold Above List
16.9%
Price Drops
14.3%