Explore US City Rapid City, SD - Real Estate Market Insights, Demographics, Crime, Trends & Hotspots
Rapid City, SD real estate snapshot: Pulse Score 45.00274125303443, cap rate 2%, median price $348,000. Below: live market insights, demographics, crime overview, investment hotspots, and nearby areas.
Pulse Score
C+
Cap Rate
2%
Investor Friendly Score
62%
Median Price
$348,000
Market Insights
The Rapid City housing market is showing balanced conditions with stable prices and moderate inventory levels. Home prices have increased 3.1% in the past month alone. With 4.3 months of supply, Rapid City's inventory levels remain relatively tight. Homes are taking about 69 days to sell, which is -7 days longer than this time last year. A significant 21.5% of listings experienced price reductions, indicating sellers may be adjusting to market realities. Only 10.8% of properties sold above asking price, giving buyers more negotiating power. Affordability remains a significant challenge in the Rapid City market with the affordability index at 33.0. Based on current market indicators, home prices in Rapid City are projected to decrease by approximately 17.0% over the next month.
Demographics market for - Rapid City, SD
Total Population -
66,683
White Race
91%
African American Race
2%
Crime for City - Rapid City, SD
Real Estate Market Prediction for - Rapid City, SD
City Hotspots Map
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Nearby Cities From Rapid City, SD
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FAQ about Rapid City, SD
The Pulse Score combines property value appreciation, rental income potential, market liquidity, demographic trends, and crime/safety signals into a single 0–100 grade. Higher scores indicate stronger investor fundamentals.
Investment quality depends on your goals. Use the cap rate, investor-friendly score, demographic insights, and crime data on this page to evaluate Rapid City, SD for buy-and-hold, fix-and-flip, or short-term rental strategies.
Our analysis combines public datasets (US Census Bureau, FBI Uniform Crime Reporting, HUD, BLS) with proprietary short-term rental performance and active MLS feeds, refreshed on a regular cadence.
Use the “Related analysis” section on this page to jump to the dedicated crime report, school ratings, and state-level short-term rental market analysis for Rapid City, SD.
Data sources & further reading
PulseReal’s analysis is built on top of these public, authoritative datasets.
Official UCR crime statistics by state and agency from the FBI.
Population, demographics, housing, and income data from the US Census Bureau.
Encyclopedic overview of the city, history, and notable landmarks.
Housing affordability, fair-market rents, and market reports from HUD.
Local unemployment and employment data from the Bureau of Labor Statistics.
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Does a rental pencil out in Rapid City, SD?
A median-priced home ($348,000) at the average rent ($855/mo), with 25% down at 7.25%, after property tax, insurance, vacancy, repairs, reserves and management.
-$1,856/mo
Cash flow on a median home
-22.9%
Cash-on-cash return
-0.04
DSCR
$3,986/mo
Rent needed for a 1.25 DSCR
$4,268/yr
Landlord insurance, hazard-adjusted