Market Intelligence · SD / Rapid City

Rapid City, SD 57701 Housing Market

Typical home value in Rapid City's 57701 ZIP is $299,906, up 1.0% over the past year. The median list price sits at $349,000, with homes spending a median 56 days on market as of September 2026.

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. For a read on your own home, start with a free consultation: a licensed local pro will walk you through your numbers and your options, with 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

The 57701 market shows a moderate pace of activity. There are 166 homes for sale and 56 new listings as of September 2026. A notable share of listings, 21.7%, carry price cuts. The median days on market of 56 suggests homes are moving, but not quickly. For sellers, this signals a balanced market where pricing strategy matters.

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Down payment20% · $59,981

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Common questions

What people ask us.

What is the typical home value in 57701?

The typical home value in Rapid City's 57701 ZIP is $299,906, up 1.0% over the past year as of September 2026.

How long do homes typically stay on the market in 57701?

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

What share of homes have price reductions?

As of September 2026, 21.7% of listings carry a price cut.

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