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These days, finding an affordable place to live in the Rapid City area can be challenging. Home prices in Rapid City are now at a median cost of $331,412, higher than the South Dakota average of $268,202.
The average cost of rent is $1,199/mo in Rapid City, primarily driven by the current value of real estate in the Rapid City area. In Rapid City, 33.09% of households rent, and 40.71% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Rapid City is $6,436 per month. Households that rent pay about 18.63% of their income on rent here. Rapid City’s most expensive areas are in the southwestern regions, while the cheapest areas are in the northeastern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Sulphur, SD: equally priced homes
- Rapid Valley, SD: less expensive homes
- Ashland Heights, SD: less expensive homes
- Black Hawk, SD: less expensive homes
- Box Elder, SD: equally priced homes
- Johnson Siding, SD: higher priced homes
- Summerset, SD: equally priced homes
- Ellsworth Afb, SD: less expensive homes
- Piedmont, SD: equally priced homes
- Bethlehem, SD: higher priced homes
Cities with Similar Populations
- Pomona, CA: higher priced homes
- Ponce, PR: less expensive homes
- Pompano Beach, FL: equally priced homes
- Oxnard, CA: higher priced homes
- Pacoima, CA: higher priced homes
- Pawtucket, RI: equally priced homes
- Pasadena, TX: less expensive homes
- Parker, CO: higher priced homes
- Palm Bay, FL: less expensive homes
- Parma, OH: less expensive homes
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