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Market Intelligence · SD / Pennington County

Rapid City, SD home prices and housing market

3 ZIP markets liveData updated September 2026Typical value$360K1-yr changeUp2.3%

The typical home value in Rapid City, SD is $360K as of September 2026, up 2.3% from a year ago, based on the Zillow Home Value Index. In the typical Rapid City ZIP code, the median list price is $395K and homes spend a median of 56 days on market as of September 2026 (Realtor.com).

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The coverage

Rapid City, by the numbers.

Typical home valueZillow ZHVI, September 2026
$360K
1-yr changeMedian across Rapid City ZIPs
+2.3%
ZIP markets live4 tracked in Rapid City
3
County
Pennington County

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12-month value trend

+2.3% over 12 months

Typical home value in Rapid City over the last 12 months: $352K in Sep 2025 to $360K in Sep 2026 (+2.3%).

Sep 2025$352K

Sep 2026$360K

Median Zillow home value index across Rapid City's ZIP codes.

Context

Rapid City's housing market shows modest growth momentum. The typical home value in Rapid City is $359,948, up 2.3% over the past year as of September 2026. There are 462 homes for sale with a median list price of $394,998. Homes are spending a median of 56 days on market, and 156 new listings entered the market recently. About 21.7% of listings have seen a price cut. For sellers, the market remains balanced, with moderate inventory and reasonable time to sale, so pricing strategy and home condition matter more than timing.

The numbers

What is the housing market like in Rapid City, SD?

Typical home value

$360K

Up2.3%YoY

Median list price

$395K

Days on market

56

Homes for sale

462

Price cuts

21.7%

New listings

156

Sources · Zillow ZHVI (September 2026) / Realtor.com (September 2026)

Figures reflect Rapid City's ZIP codes with market data: values and listing medians take the median across ZIPs; inventory and new listings are summed.

Prices over time

Rapid City, SD home prices over time

Typical home values in Rapid City, SD are up 2.3% over the past year, from $352K in September 2025 to $360K in September 2026.

Typical home value in Rapid City, SD, September of each year
MonthTypical value1-yr change
September 2026$359,948+2.3%
September 2025$351,722No prior year

Typical value is the median Zillow Home Value Index across Rapid City ZIP codes, taken in September of each year so every row compares the same month.

Market balance

Is Rapid City, SD a buyer's or seller's market?

Rapid City, SD leans toward a buyer's market.

Homes for sale are building up relative to new listings, which gives buyers more room to negotiate.

Based on a median of 56 days on market and 22% of listings with a price cut in the typical Rapid City ZIP code, and 156 new listings against 462 active listings across Rapid City, as of September 2026 (Realtor.com).

The outlook

Rapid City housing market forecast 2027

+2.8%

Weighted average of Zillow's ZIP forecasts, 12 months to September 2027

A weighted average of Zillow's ZIP forecasts, across 3 Rapid City ZIP codes, points to typical home values rising 2.8% by September 2027.

Over the 12 months through September 2026, typical home values in Rapid City rose 2.3%, per the Zillow Home Value Index.

Will home prices drop in Rapid City?

The forecasts do not call for a drop: a weighted average of Zillow's ZIP forecasts for Rapid City shows typical home values rising 2.8% by September 2027, after a 2.3% rise over the past 12 months. Forecasts are not guarantees: mortgage rates, inventory, and the wider economy can move values either way.

How this is calculated: each ZIP code's 12-month Zillow forecast is weighted by its typical home value (Zillow Home Value Index, September 2026). 3 Rapid City ZIP codes have both figures.

Forecast: a weighted average of Zillow's ZIP forecasts (Zillow Home Value Forecast, published October 2026), calculated by Home Value Pros. A forecast, not a guarantee.

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Live markets

What ZIP codes are live in Rapid City?

Typical value is the Zillow home value index (ZHVI) for each ZIP, as of September 2026. 1-yr change compares it to the same ZIP a year earlier. We track 4 Rapid City ZIP codes in total; the remaining 1 publish as their data clears editorial QA.

Zillow ZHVI, September 2026

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Common questions

Questions about Rapid City, SD home prices.

What is the typical home value in Rapid City?

The typical home value in Rapid City is $359,948, which is up 2.3% over the past year as of September 2026.

How long do homes stay on the market in Rapid City?

Homes in Rapid City spend a median of 56 days on market as of September 2026.

How many homes are currently for sale in Rapid City?

There are 462 homes for sale in Rapid City as of September 2026, with 156 new listings having entered the market recently.

Are home prices going up or down in Rapid City, SD?

Typical home values in Rapid City, SD are up 2.3% over the past year, based on the Zillow Home Value Index as of September 2026.

Is Rapid City, SD a buyer's or seller's market?

Rapid City, SD leans toward a buyer's market. Homes for sale are building up relative to new listings, which gives buyers more room to negotiate. Based on a median of 56 days on market and 22% of listings with a price cut in the typical Rapid City ZIP code, and 156 new listings against 462 active listings across Rapid City, as of September 2026 (Realtor.com).

Nearby markets

More South Dakota housing markets.

The market is moving

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