Rapid City housing market: home prices, trends and forecast
Rapid City home prices: according to the Zillow Home Value Index, in Rapid City, South Dakota the typical home was worth $360,913 in September 2026, +1.9% on a year earlier. That was its highest month on record.
- Value of a typical home
- $360,913September 2026, Zillow ZHVI
- Change over 12 months
- Since September 2025, +1.9%.
Rapid City home prices since 2000
The steel line tracks Rapid City, and the grey line tracks the United States. Since June 2008, a typical home in Rapid City has climbed to $360,913 from $160,079, a multiple of ×2.25, while the US gained ×1.86 over those months.
Rapid City median home price by year
Each year's number averages the twelve monthly values; for 2026 only the latest month is shown.
| Year | Rapid City | Change on the year | United States |
|---|---|---|---|
| 2009 | $160,183 | $177,542 | |
| 2010 | $159,054 | −0.7% | $171,462 |
| 2011 | $160,153 | +0.7% | $162,508 |
| 2012 | $164,629 | +2.8% | $161,137 |
| 2013 | $170,099 | +3.3% | $171,420 |
| 2014 | $176,638 | +3.8% | $182,996 |
| 2015 | $182,023 | +3.0% | $192,738 |
| 2016 | $189,790 | +4.3% | $204,509 |
| 2017 | $196,734 | +3.7% | $216,767 |
| 2018 | $206,570 | +5.0% | $230,541 |
| 2019 | $218,538 | +5.8% | $242,088 |
| 2020 | $237,424 | +8.6% | $257,151 |
| 2021 | $273,398 | +15.2% | $295,959 |
| 2022 | $323,199 | +18.2% | $340,014 |
| 2023 | $335,196 | +3.7% | $348,160 |
| 2024 | $344,695 | +2.8% | $359,751 |
| 2025 | $354,618 | +2.9% | $362,959 |
| September 2026 | $360,913 | +1.9% | $366,157 |
What a home bought in Rapid City in any year is worth today
This is an index-based estimate of a typical home, not an appraisal.
Each year averages its twelve monthly index values; today's value is September 2026. Other tools: home appreciation calculator.
Are you thinking of selling? See how local agents compare on Realtor.com. Advertising disclosure: links like this one may pay the site; such payment never changes a number. Disclosure.
Rapid City housing market forecast
In the Rapid City, SD metro, Zillow's forecast shows +3.7% over 12 months beginning September 2026, and +1.3% across the next three months. Using Rapid City's $360,913 typical value, the forecast would place it near $374,300 one year later.
This page restates Zillow's central estimate for this metro; the site does not publish a forecast of its own. Forecasts like this 12-month one have usually been off by several percentage points from the change that actually happened, in both directions. This is not investment advice.
All metro forecasts in a single table: housing market forecast.
Rapid City housing market crash risk score
52 of 100, high
Against the 292 cities, Rapid City is ranked on five conditions that were high before earlier price falls. Against the other cities, each input gets a score from 0 to 100, and the five scores are averaged with equal weight. It shows conditions as they are now; it does not predict a crash.
| Input | Value | Sub-score | Weight |
|---|---|---|---|
| Active listings vs 2019 | −10.7% | 28 | 20% |
| Time on the market vs 2019 | +28.0% | 86 | 20% |
| Price-to-rent ratio | 20.8 | 63 | 20% |
| Price-to-income ratio | 4.8 | 49 | 20% |
| 12-month price change | +1.9% | 34 | 20% |
This is not investment advice. Scoring of the inputs: methodology. Every one of the 292 cities, ranked: crash risk by city.
Homes for sale and time on the market in Rapid City
As of September 2026 the Rapid City, SD metro showed 724 homes for sale, −1.7% year on year and −10.7% compared with the same month of 2019. Selling took a median of 64 days per listing (+28.0% against 2019), and price cuts reached 22.0% of listings.
| Rapid City, SD metro, September 2026 | Value | On a year |
|---|---|---|
| Active listings | 724 | −1.7% |
| New listings | 228 | |
| Median days on market | 64 | +9.4% |
| Median list price | $417,450 | −4.9% |
| Share with a price cut | 22.0% |
For metro inventory, see Realtor.com® Economic Research and Realtor.com data. All metros: days on market by city.
What rent and living costs look like in Rapid City
Rapid City's typical asking rent is $1,445 a month, +4.6% on a year, according to the Zillow Observed Rent Index. A typical home costs 20.8 years of rent at that level. Median household income here is $75,467 (Census ACS 2024), which puts the typical home at 4.8 times annual household income. According to BEA, prices in the metro stand at 89.2 versus a US average of 100, while housing costs sit at 72.6.
Other housing markets in South Dakota
- Sioux Falls $330,625
Statewide view: South Dakota housing market.
How to read this chart
Each point plots the Zillow Home Value Index for Rapid City: the worth of the typical home in the market's middle third, smoothed and seasonally adjusted, given in the dollars of that month. A hollow dot marks the month picked on the slider, while a terracotta dot shows the most recent month. Nothing here is adjusted for inflation, and the index tracks the typical home, not one particular house. Work out a single home's worth from its own sale price using the card above or the home appreciation calculator.