Photo: WeaponizingArchitecture · CC BY-SA 4.01,048 homes sold in Rapid City in the last year, at a typical $345K
Almost every sale is a house. Below: what each kind of home sells for, what your budget buys, the best months to buy, how hard you’ll have to bid, and a shortcut to every site where Rapid City homes are listed.
Every place Rapid City homes are listed, in one stop
We don’t copy listings: the agents’ sites have the photos and the latest price changes. Set what you want once and we open each site already filtered to Rapid City.
For sale
Rent
New, land & open houses
Links open the listing sites; TownRatings isn’t paid for them and doesn’t rank one above another. Rentals and government-owned homes come from sources outside the MLS.
Houses are 85% of Rapid City’s sales, at a typical $355K
1,048 homes sold in the year to May 2026.
typical sale · 893 sold in 12 months
- Per square foot
- $204SD $182
- Days to sell
- 74
- Sold over asking
- 16%
- Listings with a price cut
- 22%
Multi-family (2–4 units): 24 sold, typical $301K
Townhouses: 127 sold, typical $322K
Condos: 4 sold, typical $247K
Too few sales in 12 months for reliable figures.
About as many homes sell as usual, at 1.8 times the 2016 price
1,048 sales in the last year, against 1,434 in 2020 and a low of 980 in 2025. The typical sale went from $193K in 2016 to $345K.
Source: Redfin Data Center, MLS sales. Typical price and $/sq ft are the monthly medians, weighted by sales.
What $350K buys in Rapid City
Check a listing against what Rapid City homes sold for
Against the town’s median price per square foot over the last 12 months. A rough check: condition, lot and location within town move a price more than this can see.
Bidding wars in Rapid City are rarer than before the pandemic, and more homes are for sale
We read every month of Rapid City’s home sales since 2015 so you don’t have to. Each figure covers 12 months, because a single month in a town is too few sales to mean much. Latest: the year to May 2026, 1,048 sales.
If you’re buying in Rapid City
- Shop in September. It brings about 110 new listings a month, close to the busiest month, with fewer bidding wars (24% over asking).
- Offer under asking. Buyers paid 97.9% of the list price on average; 14% paid over.
- You’ll usually have time. Only 32% of homes go under contract within two weeks; the typical one takes 73 days.
Summer brings both the most homes and the most bidding wars
June has the most new listings (about 135 a month), and the most competition: 28% close over asking. August and September offer nearly as much choice with fewer homes bid up (26%). February has the least competition (20%).
Averages for each calendar month, 2015 on.
Calmer than the 2021 frenzy, and about like South Dakota as a whole
| Rapid City now | 2017–19 | 2021 peak | SD now | |
|---|---|---|---|---|
| Sold over askingShare of sales that closed above the list price | 14% | 19% | 48% | 16% |
| Gone within two weeksShare of homes under contract within 14 days | 32% | 1% | 3% | 29% |
| Listings with a price cutShare of homes for sale that cut their price | 20% | — | — | 20% |
| Price paid vs. askingAverage sale price ÷ list price | 97.9% | 98.4% | 101% | 97.5% |
| Days to sellMedian days from listing to contract | 73 | 65 | 56 | 59 |
386 homes for sale on a typical day
That’s 1.6 times the 2023 low (247) and 31% more than in 2017–19.
1 in 5 listings has cut its price
20% in the last year, against — in 2017–19 and 20% across South Dakota.
Houses and condos, year by year
A house typically sold for $355K in the last year (893 sales), a condo for $247K (4).
Median sale price, weighted by sales each month. Years with fewer than 4 sales of a type are left out.
Rapid City ranks 10th of 19 busy South Dakota markets for bidding wars
Share of sales over asking in the last year, among towns with 60 or more sales. Rapid City is in the middle of the pack.
Source: Redfin Data Center, city market tracker, January 2015 to May 2026 (MLS sales, not seasonally adjusted). Ratios are weighted by homes sold; price cuts by homes for sale.
Owning the typical Rapid City home costs about $2,112 a month
Price: Rapid City’s typical sale, last 12 months. Property tax at Rapid City’s 1.1% (median bill ÷ median value, Census ACS); insurance at 0.35% of price a year. Before PMI, HOA dues, upkeep and the tax deduction. Whether Rapid City is affordable on local pay is on Cost of living.
Six things worth knowing
New listings in June
The month with the most choice. December has the fewest, about 55.
Best time to buyProperty tax, a year
Of a home’s value: the median bill over the median home value. On a $345K home, about $3,750 a year.
Taxes vs. neighborsSchools
The schools grade for Rapid City, from test results, graduation and how much students grow.
Schools in Rapid CityTypical commute
The average one-way trip to work for people who live in Rapid City.
Work & commuteCheck the flood map
Flood insurance isn’t in a standard policy, and lenders require it in FEMA flood zones. Check the address before you make an offer.
Natural hazardsLook up any property
Assessed value, lot size and every past sale of a home you’re eyeing are public, at the town or county assessor and the registry of deeds.
Blackhawk sells for less a square foot; Hill City for far more
The busier markets within 25 miles of Rapid City, by what sold. Prices, taxes and how far a paycheck goes next door are on Cost of living.
| Sold | Typical sale | $/sq ft | Over asking | Days to sell | |
|---|---|---|---|---|---|
| Rapid City | 1,048 | $345K | $204 | 14% | 73 |
| Box Elder | 193 | $360K | $198 | 27% | 94 |
| Rapid Valley | 115 | $320K | $212 | 17% | 70 |
| Summerset | 56 | $432K | $204 | 12% | 88 |
| Colonial Pine Hills | 33 | $604K | $223 | 15% | 82 |
| Blackhawk | 30 | $375K | $197 | 23% | 62 |
| Hill City | 20 | $461K | $262 | 5% | 136 |
Redfin Data Center, June 2025 to May 2026. Towns with fewer than 20 sales are left out, and Redfin doesn’t report every town separately.
Post your home to Rapid City, free
Selling it yourself, renting out an apartment or looking for a roommate? Post it to Rapid City. People who follow the town see it, and so do people comparing Rapid City with their own town. No commission, no listing fee.
Questions about buying a home in Rapid City
What do homes sell for in Rapid City, SD?
1,048 homes sold in the year to May 2026 at a typical $345K, $204 a square foot.
Is Rapid City a buyer’s or seller’s market?
A seller’s market: 373 homes were for sale in May 2026 and 108 sold, about 3.5 months of supply. Buyers paid 97.9% of asking on average, and 20% of listings cut their price.
When is the best time to buy in Rapid City?
June brings the most new listings. The sales history shows which months have fewer bidding wars.
How much are property taxes in Rapid City?
About 1.1% of a home’s value a year. On a $345K home that’s near $3,750.
Where can I see homes for sale in Rapid City?
Zillow, Redfin, Realtor.com and Homes.com all carry Rapid City’s MLS listings; the search links above open each one filtered to Rapid City.
Sales, prices, days on market and listings: Redfin Data Center (MLS, monthly, not seasonally adjusted). Property tax rate: Census American Community Survey. Two-bedroom rent: HUD Fair Market Rent. Typical home value: Zillow Home Value Index. Schools grade: TownRatings (how grades work).