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Rapid City, SD Housing Market

$361,540

2.0% 1-yr

The average Rapid City, SD home value is $361,540, up 2.0% over the past year, and homes go to pending in around 16 days. (Updated on )

What is the Zillow Home Values Index?

Zillow Home Value Index (ZHVI), built from the ground up by measuring monthly changes in property level Zestimates, captures both the level and home values across a wide variety of geographies and housing types.

Learn more about the Zillow Home Value Index

Rapid City Key Takeaways

Typical Home Values: $361,540

1-Year Value Change: +2%

(Data through August 31, 2026)

Rapid City Housing Market Overview

1-Year Market Forecast: --
For Sale Inventory: 413 ()
New Listings: 137 ()
Median Sale to List Ratio: 0.987 ()
Median Sale Price: $374,600 ()
Median List Price: $399,667 ()
Percent of Sales Over List Price: 16.6% ()
Percent of Sales Under List Price: 59.2% ()
Median Days to Pending: 16 ()
(Metric availability is based on market coverage and data, housing data available for download in the Housing Data page)
How does this data help me?
Zillow's metrics provide valuable market data by tracking market changes in different locations and housing types.
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Rapid City Rental Market Trends

Average Rent: $1,484 ()
National Average Rent: $1,948 ()
Month-Over-Month Change: 1.6% ()
Year-Over-Year Change: 5% ()
How does this data help me?
The Zillow Observed Rent Index (ZORI) measures changes in asking rents over time, controlling for changes in the quality of the available rental inventory.

Frequently Asked Questions

  • What are current home values in Rapid City, SD?

    The median home value in Rapid City, SD is $361,540 as of August 2026. This represents a 0.1% increase compared to last month and a 2.0% increase year-over-year.

  • How have home values changed in Rapid City, SD?

    Home values in Rapid City, SD have increased by 0.1% month-over-month and 2.0% year-over-year.

  • How do home values in Rapid City, SD compare to Pennington County, South Dakota, and the national average?

    The median home value in Rapid City, SD ($361,540) compares to: Pennington County ($363,679), South Dakota ($321,574), and the U.S. national median ($368,697).

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