The Rapid City housing market is somewhat competitive. The median sale price of a home in Rapid City was $355K last month, up 12.7% since last year. The median sale price per square foot in Rapid City is $197, up 0.5% since last year.
What is the housing market like in Rapid City today?
In May 2024, Rapid City home prices were up 12.7% compared to last year, selling for a median price of $355K. On average, homes in Rapid City sell after 58 days on the market compared to 47 days last year. There were 87 homes sold in May this year, down from 115 last year.
All Home Types
Median Sale PriceAll Home Types
Median Sale Price
(All Home Types)
$355,000
+12.7% YoY | May 2024
Based on Redfin calculations of home data from MLS and/or public records.
Location
Data
May 2024
Growth
% YoY
Rapid City, SD
$355,000
+12.7%
United States
To compare other locations to the Rapid City and U.S. housing market, enter a city, neighborhood, state, or zip code into the search bar. Rapid City's median sale price is 20% lower than the national average. Overall cost of living in Rapid City is 6% lower than the national average. Learn which home features in Rapid City add value to a home.
How much is your home worth? Track your home’s value and compare it to nearby sales.
How hot is the Rapid City housing market?
Rapid City is somewhat competitive. Homes sell in 55 days.
0
100
44
Somewhat Competitive
Redfin Compete Score™
The Redfin Compete Score rates how competitive an area is on a scale of 0 to 100, where 100 is the most competitive.
Calculated over the last 3 months
Some homes get multiple offers.
The average homes sell for about 2% below list price and go pending in around 55 days.
Hot homes
can sell for around list price and go pending in around 41 days.
School data provided by GreatSchools. School service boundaries are intended to be used as reference only. To verify enrollment eligibility for a property, contact the school directly.
Climate's impact on Rapid City housing
Learn about natural hazards and environmental risks, such as floods, fires, wind, and heat that
could impact homes in Rapid City.
Risk Factor
Flood Factor - Moderate
17% of properties are at risk of severe flooding over the next 30 years
Flood Factor
Rapid City has a moderate risk of flooding. 3,079 properties in Rapid City are likely to be
severely affected
by flooding over the next 30 years. This represents 17% of all properties in Rapid City. Flood risk is increasing slower than the national average.
99% of properties are at risk of wildfire over the next 30 years
Fire Factor
Rapid City has a major risk of wildfire. There are 26,773 properties in Rapid City that have some risk of being affected by wildfire over the next 30 years. This represents 99% of all properties in Rapid City.