Housing in Rapid City, SD
Home values, rent, ownership rates, and housing market data
Housing Market Snapshot
Source: Redfin — January 2026Median Sale Price
$340,000
Median List Price
$348,000
Price Per Sq Ft
$202
Days on Market
96
Active Inventory
316
Months of Supply
5.2
Balanced market
Zillow Home Value
$352,520
ZHVI — January 2026
Zillow Rent Index
$1,329
ZORI — January 2026
Price Trends
Source: RedfinMarket Competitiveness
Source: RedfinSold Above List
14.8%
Off Market in 2 Weeks
24.1%
Sale-to-List Ratio
97.7%
Buyer's market
Market Activity
Source: RedfinHomes Sold
61
New Listings
101
Pending Sales
108
Price Per Square Foot
Source: RedfinMedian Sale $/SF
$202
Median List $/SF
$206
Rapid City vs Similar Cities
Source: Census ACS / Redfin (2023)Compared to cities with 50,000 - 100,000 residents. Rapid City is highlighted.
Median Home Value
Median Rent
Median Price Per Sq Ft
Rent Burden
Census Housing Data
Source: U.S. Census Bureau ACS (2023)Median Home Value
$270,000
Median Rent
$1,053
Total Housing Units
34,751
Vacancy Rate
8.0%
Owner Occupied
61.6%
Renter Occupied
38.4%
Median Property Tax
$3,058
per year
Monthly Cost (w/ Mortgage)
$1,203
Housing Types
The current median sale price in Rapid City, SD is $340,000 according to Redfin data. Homes spend a median of 96 days on the market. 14.8% of homes sold above asking price. The market has 5.2 months of supply. The median price per square foot is $202. Zillow's observed rent index is $1,329/month. About 61.6% of housing units are owner-occupied. The median year homes were built is 1978. There are 34,751 total housing units.