Market Overview
Home Prices in Rapid City, SD
The median home value in Rapid City, SD is $367,620 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 1.9% compared to a year ago and up 2.9% from two years prior.
Compared to the U.S. national median of $410,000, homes in Rapid City are priced10% below average. Rapid City is part of the Rapid City, SD metro area.
Over the past five years, Rapid City home values have risen by approximately32.1%, reflecting strong long-term appreciation in this market.
Price History
Rapid City Home Price Trend
City Comparison
Rapid City vs. National Median
At $367,620, homes in Rapid City cost 10% below the national median of $410,000. This makes Rapid City a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Rapid City?
20% Down Payment
$73,524
on $367,620
Monthly P&I
$1,917/mo
30-yr @ 6.8%
Total Monthly Est.
~$2,435/mo
incl. taxes & insurance
Income Needed
$97,400
gross annual (30% rule)
10% Down Option
$36,762
+ PMI applies
Loan Amount (20% dn)
$294,096
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Rapid City, SD?
The median home value in Rapid City is $367,620 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 1.9% year-over-year.
How much have home prices changed in Rapid City?
Over the past year, home values in Rapid City have increased by 1.9%. Over five years, prices have risen approximately 32.1%.
How much do I need to earn to buy a home in Rapid City?
To comfortably afford the median home price of $367,620 with a 20% down payment ($73,524) at today's rates (6.8%), you'd need a gross annual income of approximately $97,400. This assumes keeping total housing costs at or below 30% of gross income.
How does Rapid City compare to the national average home price?
The national median home value is approximately $410,000. At $367,620, homes in Rapid City are 10% below the national average.
What metro area is Rapid City part of?
Rapid City is part of the Rapid City, SD metropolitan area. Home prices and market conditions can vary across the broader metro region.