Market Intelligence · SD / Rapid City

Rapid City, SD 57701 Housing Market

The typical home value in Rapid City, SD 57701 is $301,412, up 1.2% over the past year as of August 2026. As of September 2026, the median list price is $349,000 and the median days on market is 56.

Updated September 2026Median value$300K

The median home value in Rapid City, SD 57701 is $300K as of September 2026, up 1.0% year over year, according to Zillow ZHVI. Get your own home's value and a real cash offer in about two minutes, with sources shown and no obligation.

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Typical 57701 range

$276K to $324K

This is an automated estimate, not an appraisal. Actual value is determined by current market conditions and professional evaluation. It is provided for informational purposes only and is not an offer to buy or a promise of value.

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12-month value trend

+1.0% over 12 months

Sep 2025$297K

Low $297KHigh $302K

Sep 2026$300K

The numbers

What is the 57701 housing market like?

As of September 2026

Typical home value

$300K

1.0%YoY

Median list price

$349K

3.0%MoM

Days on market

14.3%MoM

Homes for sale

166

9.2%MoM

Price cuts

21.7%

18.8%MoM

New listings

12.5%MoM

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

The outlook

57701 housing market forecast 2027

+2.7%

Zillow forecast, 12 months to September 2027

Zillow forecasts typical home values in 57701 to rise 2.7% by September 2027.

Over the 12 months through September 2026, typical home values in 57701 rose 1.0%, per the Zillow Home Value Index.

Will home prices drop in 57701?

Zillow's forecast does not call for a drop: it expects typical home values in 57701 to rise 2.7% by September 2027, after a 1.0% rise over the past 12 months. Forecasts are not guarantees: mortgage rates, inventory, and the wider economy can move values either way.

Forecast: Zillow Home Value Forecast, published October 2026. A forecast, not a guarantee.

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The comparison

How do 57701 home prices compare?

57701$299,906
Rapid City$359,948
South Dakota$298,556
United States$285,347

Median Zillow home value (ZHVI), as of September 2026. Comparison levels are medians across every ZIP code with Zillow data (Rapid City: 3 ZIPs; South Dakota: 145 ZIPs; United States: 26,262 ZIPs).

Context

September 2026 shows a market with room to negotiate but not a stall: 166 homes were for sale, the median list price was $349,000, and homes spent a median of 56 days on market. New listings numbered 56, while 21.7% of listings had a price cut. Values still rose, with the typical home value at $301,412 as of August 2026, up 1.2% over the past year. The gap between asking and typical value suggests some sellers are aiming high. Price realistically and expect buyers to test your number.

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Down payment20% · $59,981

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Common questions

What people ask us.

How much is a home in 57701 worth?

The typical home value is $301,412 as of August 2026, up 1.2% over the past year.

Are homes in 57701 selling quickly?

The median days on market is 56 as of September 2026.

How much negotiating room is there in 57701?

As of September 2026, 21.7% of listings had a price cut, and the median list price is $349,000.

Discover

Nearby ZIP markets.

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