Rapid City, South Dakota Real Estate Market Analysis

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Rapid City, South Dakota

4 ZIPs in this city:57701 57702 57703 57709

Market Hotness

Hotness Rank

Hotness Score

Supply Score

Demand Score

DOM vs US

-7.7%

Faster

Price vs US

107%

Above avg

Median Listing Price

$466K

Population

99,403

Households

41,283

Median Days on Market

Active Listings

377

New Listings

170

Housing Market

Pricing

Median Listing Price

$466K-1.1% YoY

Average Listing Price

$596K+9.2% YoY

Price per Sq Ft

$247.125+6.4% YoY

Median Sq Ft

1,911-9.4% YoY

Inventory

Active Listings

377+3.3% YoY

New Listings

170-11.5% YoY

Total Listings

555-5.8% YoY

Buyer Competition

Pending Listings

182-20.2% YoY

Pending Ratio

0.48-22.7% YoY

Median Days on Market

46+16.9% YoY

Price Reduced

16.2%-15.0% YoY

Units & Occupancy

2024 Occupancy

52Kunits

Occupied46,37089.7%
Vacant5,31110.3%

2024 Tenure

46Koccupied

Owner32,12569.3%
Renter14,24530.7%

Renter Share

30.7%-0.6% YoY

Total Housing Units

51,681+2.0% YoY

FY2026 Fair Market Rent — Pennington County

HUD government estimate (40th percentile) — not actual market asking rent.

Studio

$921

/month

1 BR

$1,018

/month

2 BR

$1,336

/month

3 BR

$1,743

/month

4 BR

$2,178

/month

FMR Trends — Pennington County

Source: HUD Fair Market Rents

ZIP Profile

U.S. Census ACS characteristics rolled up across the ZIP Code Tabulation Areas in this area, not the parent county.

Population & Age

Total Population

99,403+0.9% YoY

2024 Age Mix

99Kresidents

Under 1820,96121.1%
Adults 18–6457,46757.8%
65 & Over20,97521.1%

Age Composition Over Time2019–2024

Population growth (first year = 100)

Share of population (change in pp)

Under 18Adults 18–6465 & Over

Median Age

41.54+0.4% YoY

Population Under 18

20,961+0.1% YoY

Population 65 & Over

20,975+3.2% YoY

Households & Mobility

Total Households

41,283+0.8% YoY

Household Types

--Not reported for this area (ACS).

Avg Household Size

2.32+0.1% YoY

2024 Residential Mobility

of residents

Same house83.3%
Moved (within US)16.2%
Other0.6%

Veterans

11.7%-4.8% YoY

Income & Poverty

Median Household Income

$74K+5.3% YoY

Per-Capita Income

$44K+4.8% YoY

Mean Household Income

$101K+4.8% YoY

Below Poverty Level

11.2%-8.7% YoY

Commuting

2024 Commute Mode

of workers

Drove alone77.8%
Public transit0.2%
Worked from home9.6%
Other12.4%

Worked From Home

9.6%-0.4% YoY

Mean Commute

18.66+1.1% YoY

Units & Tenure

Total Housing Units

45,356+1.3% YoY

2024 Occupancy

45Kunits

Occupied41,28391.0%
Vacant4,0739.0%

2024 Tenure

41Khouseholds

Owner28,53869.1%
Renter12,74530.9%

Avg Household Size — Owner

2.45-0.2% YoY

Avg Household Size — Renter

2.03+0.2% YoY

County Demographics

Median Age

40.12024

Population

Pennington County Population

115,979+0.1% YoY

Households

Total Households

46,370+1.5% YoY

Household Types

--Not reported for this area (ACS).

Avg Household Size

2.370.0% YoY

Age

2024 Age Mix

114Kresidents

Under 1824,97522.0%
Adults 18–6465,66757.9%
65 & Over22,87020.1%

Age Composition Over Time2017–2024

Population growth (first year = 100)

Share of population (change in pp)

Under 18Adults 18–6465 & Over

Population Under 18

24,975+0.2% YoY

Population 65 & Over

22,870+4.0% YoY

Median Age

40.10+1.0% YoY

Mobility & Veterans

2024 Residential Mobility

of residents

Same house83.3%
Moved (within US)16.1%
Other0.6%

Veterans

12.3%-3.9% YoY

County Economy

Income

Median Household Income

$75K+5.3% YoY

Per-Capita Income

$42K+4.4% YoY

Mean Household Income

$99K+4.0% YoY

Poverty

Below Poverty Level

11.2%-6.7% YoY

Transportation to Work

2024 Commute Mode

of workers

Drove alone77.4%
Public transit0.2%
Worked from home9.6%
Other12.8%

Worked From Home

9.6%-2.0% YoY

Mean Commute

19.40+3.7% YoY

Rapid City, South Dakota

4 ZIPs in this city:57701 57702 57703 57709

Market Hotness

Hotness Rank

Hotness Score

Supply Score

Demand Score

DOM vs US

-7.7%

Faster

Price vs US

107%

Above avg

Median Listing Price

$466K

Population

99,403

Households

41,283

Median Days on Market

Active Listings

377

New Listings

170

Housing Market

Pricing

Median Listing Price

$466K-1.1% YoY

Average Listing Price

$596K+9.2% YoY

Price per Sq Ft

$247.125+6.4% YoY

Median Sq Ft

1,911-9.4% YoY

Inventory

Active Listings

377+3.3% YoY

New Listings

170-11.5% YoY

Total Listings

555-5.8% YoY

Buyer Competition

Pending Listings

182-20.2% YoY

Pending Ratio

0.48-22.7% YoY

Median Days on Market

46+16.9% YoY

Price Reduced

16.2%-15.0% YoY

Units & Occupancy

2024 Occupancy

52Kunits

Occupied46,37089.7%
Vacant5,31110.3%

2024 Tenure

46Koccupied

Owner32,12569.3%
Renter14,24530.7%

Renter Share

30.7%-0.6% YoY

Total Housing Units

51,681+2.0% YoY

FY2026 Fair Market Rent — Pennington County

HUD government estimate (40th percentile) — not actual market asking rent.

Studio

$921

/month

1 BR

$1,018

/month

2 BR

$1,336

/month

3 BR

$1,743

/month

4 BR

$2,178

/month

FMR Trends — Pennington County

Source: HUD Fair Market Rents

ZIP Profile

U.S. Census ACS characteristics rolled up across the ZIP Code Tabulation Areas in this area, not the parent county.

Population & Age

Total Population

99,403+0.9% YoY

2024 Age Mix

99Kresidents

Under 1820,96121.1%
Adults 18–6457,46757.8%
65 & Over20,97521.1%

Age Composition Over Time2019–2024

Population growth (first year = 100)

Share of population (change in pp)

Under 18Adults 18–6465 & Over

Median Age

41.54+0.4% YoY

Population Under 18

20,961+0.1% YoY

Population 65 & Over

20,975+3.2% YoY

Households & Mobility

Total Households

41,283+0.8% YoY

Household Types

--Not reported for this area (ACS).

Avg Household Size

2.32+0.1% YoY

2024 Residential Mobility

of residents

Same house83.3%
Moved (within US)16.2%
Other0.6%

Veterans

11.7%-4.8% YoY

Income & Poverty

Median Household Income

$74K+5.3% YoY

Per-Capita Income

$44K+4.8% YoY

Mean Household Income

$101K+4.8% YoY

Below Poverty Level

11.2%-8.7% YoY

Commuting

2024 Commute Mode

of workers

Drove alone77.8%
Public transit0.2%
Worked from home9.6%
Other12.4%

Worked From Home

9.6%-0.4% YoY

Mean Commute

18.66+1.1% YoY

Units & Tenure

Total Housing Units

45,356+1.3% YoY

2024 Occupancy

45Kunits

Occupied41,28391.0%
Vacant4,0739.0%

2024 Tenure

41Khouseholds

Owner28,53869.1%
Renter12,74530.9%

Avg Household Size — Owner

2.45-0.2% YoY

Avg Household Size — Renter

2.03+0.2% YoY

County Demographics

Median Age

40.12024

Population

Pennington County Population

115,979+0.1% YoY

Households

Total Households

46,370+1.5% YoY

Household Types

--Not reported for this area (ACS).

Avg Household Size

2.370.0% YoY

Age

2024 Age Mix

114Kresidents

Under 1824,97522.0%
Adults 18–6465,66757.9%
65 & Over22,87020.1%

Age Composition Over Time2017–2024

Population growth (first year = 100)

Share of population (change in pp)

Under 18Adults 18–6465 & Over

Population Under 18

24,975+0.2% YoY

Population 65 & Over

22,870+4.0% YoY

Median Age

40.10+1.0% YoY

Mobility & Veterans

2024 Residential Mobility

of residents

Same house83.3%
Moved (within US)16.1%
Other0.6%

Veterans

12.3%-3.9% YoY

County Economy

Income

Median Household Income

$75K+5.3% YoY

Per-Capita Income

$42K+4.4% YoY

Mean Household Income

$99K+4.0% YoY

Poverty

Below Poverty Level

11.2%-6.7% YoY

Transportation to Work

2024 Commute Mode

of workers

Drove alone77.4%
Public transit0.2%
Worked from home9.6%
Other12.8%

Worked From Home

9.6%-2.0% YoY

Mean Commute

19.40+3.7% YoY