RAPID CITY Mortgage Rates & Closing Costs

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    • 30yr Fixed Rate 15yr Fixed Rate FHA USDA VA 5/1 ARM

    30 Year Fixed Rate mortgages in Rapid City averaged 6.54% for the week of 2024-11-14, compared to the national average of 6.78% for the same period.

    The average rate for the prior week (2024-11-07) was 6.65% and one month ago for the week of 2024-10-10, the average rate was 6.18%.

    Rapid City's average rate one year ago was 7.16%.

    For refis of the same type during the week of 2024-11-14, the average rate was 7.12%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2024-11-14 6.78%
    Rapid City 30 Year Fixed Rate 2024-11-14 6.54%
    Rapid City 30 Year Fixed Rate Refi 2024-11-14 7.12%
    Rapid City 15 Year Fixed Rate 2024-11-14 6.19%
    Rapid City 15 Year Fixed Rate Refi 2024-11-14 6.39%
    Rapid City 30 Year FHA 2024-11-14 0.1%
    Rapid City 30 Year FHA Refi 2024-11-14 0.1%
    Rapid City 30 Year USDA 2024-11-14 -0.2%
    Rapid City 30 Year USDA Refi 2024-11-14 0%
    Rapid City 30 Year VA 2024-11-14 -0.24%
    Rapid City 30 Year VA Refi 2024-11-14 0%
    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within RAPID CITY, SD.

    RAPID CITY Top Lenders by Rates & Fees

    The below table looks at the consensus average rates and fees provided by each lender, for only loans originated in the RAPID CITY, SD market. This includes FHA, Conventional, USDA and VA loans, as well as refis. All terms in the below chart are 30 year fixed rate. Unless noted otherwise, other data is all inclusive (FHA, ARM, 15-yr, etc.).

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    CMG MORTGAGE, INC. 212 6.57% $6,018
    BLACK HILLS FEDERAL CREDIT UNION 102 6.27% $6,085
    UNITED WHOLESALE MORTGAGE, LLC 83 6.82% $6,053
    Gateway First Bank 78 6.51% $3,923
    Unify Home Lending Inc. 76 6.59% $4,957
    Plains Commerce Bank 39 6.86% $6,681
    QUICKEN LOANS, LLC 38 6.73% $6,553
    AMERICAN PACIFIC MORTGAGE CORPORATION 20 6.71% $9,290
    First National Bank 16 6.97% $4,282
    Dacotah Bank 15 6.98% $4,615
    BANKWEST, INC. 15 6.55% $6,977
    Wells Fargo Bank 14 6.55% $5,756
    PENNYMAC LOAN SERVICES, LLC 13 6.68% $6,829
    U.S. Bank 13 6.82% $3,394
    First Interstate Bank 13 6.70% $5,046
    The Huntington National Bank 11 6.48% $6,002
    Servion, Inc. 11 6.80% $6,001
    DAS Acquisition Company, LLC 9 7.03% $8,382
    JPMorgan Chase Bank 7 6.37% $2,067
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 5 6.22% $5,151
    Mr. Cooper ( Nationstar Mortgage ) 5 7.22% $8,740
    USAA Federal Savings Bank 5 6.50% $5,883
    Century Mortgage Company DBA Century Lending Company 4 7.72% $6,962
    FIRST COLONY MORTGAGE CORPORATION 4 6.22% $4,444
    Flagstar Bank, FSB 4 6.19% $8,116
    First Dakota National Bank 3 6.88% $3,334
    MUTUAL OF OMAHA MORTGAGE, INC. 3 6.54% $8,667
    Mortgage Research Center, LLC 3 6.21% $6,492
    LOANDEPOT.COM, LLC 3 6.71% $11,236
    Home Federal Savings Bank 3 5.75% $5,172
    Lend Smart Mortgage, LLC 3 6.25% $14,400
    Morgan Stanley Private Bank 2 6.23% $3,593
    LAKEVIEW LOAN SERVICING, LLC 2 7.25% $7,145
    West Gate Bank 2 6.88% $2,836
    American Bank & Trust 2 6.81% $5,895
    Farm Credit Mid-America, ACA 2 6.88% $9,238
    Raymond James Bank 2 4.25% $6,072
    HOMESTAR FINANCIAL CORPORATION 2 6.25% $3,471
    BMO Harris Bank 2 6.00% $3,798
    OPEN MORTGAGE, LLC 2 7.31% $14,600
    NBKC BANK 2 5.88% $2,115
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 6.24% $5,971
    FirstBank 2 6.44% $3,604
    White Sands Federal Credit Union 1 4.95% $3,880
    ANGEL OAK MORTGAGE SOLUTIONS LLC 1 7.75% $15,880
    Bank of America 1 6.50% $3,691
    BAY EQUITY LLC 1 7.49% $9,034
    Bell Bank 1 6.63% $3,926
    Cache Valley Bank 1 6.75% $6,053
    Carrington Mortgage Services, LLC 1 6.38% $7,194
    Central Bank 1 5.88% $10,520
    Charles Schwab Bank, SSB 1 6.60% $3,900
    Citizens Bank 1 6.38% $3,992
    CROSSCOUNTRY MORTGAGE, LLC 1 7.00% $3,536
    Discover Bank 1 7.24% $0
    First Bank 1 5.88% $3,121
    First Bank & Trust 1 5.88% $11,625
    First Federal Bank 1 6.63% $2,636
    First National Bank of Omaha 1 6.13% $3,860
    First PREMIER Bank 1 7.13% $5,677
    Flanagan State Bank 1 7.00% $9,977
    Gate City Bank 1 5.38% $7,730
    Great Southern Bank 1 6.38% $3,445
    GreenStone Farm Credit Services, FLCA 1 6.90% $3,884
    GUILD MORTGAGE COMPANY 1 5.63% $18,922
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 8.88% $7,486
    IOWA BANKERS MORTGAGE CORPORATION 1 6.75% $2,298
    MORIA DEVELOPMENT, INC. 1 6.75% $4,029
    NAVY FEDERAL CREDIT UNION 1 6.75% $9,433
    NFM, INC. 1 7.00% $2,194
    Northpointe Bank 1 6.88% $4,788
    OCMBC, INC. 1 8.00% $28,686
    Opportunity Bank of Montana 1 6.75% $6,018
    PHH Mortgage Corporation 1 7.38% $6,061
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 6.13% $4,475
    Prosperity Home Mortgage, LLC 1 6.38% $6,396
    S1L, Inc. 1 5.99% $3,041
    Security First Bank 1 5.38% $12,976
    TEXAS TECH 1 8.00% $4,619
    The Central Trust Bank 1 6.13% $2,428
    The First National Bank in Sioux Falls 1 7.75% $10,718
    UNION HOME MORTGAGE CORP. 1 6.88% $2,645
    VERIDIAN CREDIT UNION 1 7.00% $3,052

    RAPID CITY Average Closing Costs & Other Stats

    RAPID CITY, SD's 83 lenders originated 2,777 loans during 2023. The total origination value was $812,395,000, with an average loan value of $292,544.

    RAPID CITY's average closing costs are $5,546.

    The top RAPID CITY lender as defined by loan originations is CMG MORTGAGE, INC., with 212 loans originated. Their average total fees are $6,018, which is $67 lower than the next largest lender, BLACK HILLS FEDERAL CREDIT UNION.

    The lowest fee RAPID CITY lenders (with over 10 loans originated) are U.S. Bank ($3,394), Gateway First Bank ($3,923), First National Bank ($4,282), Dacotah Bank ($4,615) and Unify Home Lending Inc. ($4,957).

    The lowest rate RAPID CITY lenders (with over 10 loans originated) are BLACK HILLS FEDERAL CREDIT UNION (6.27%), The Huntington National Bank (6.48%), Gateway First Bank (6.51%), BANKWEST, INC. (6.55%) and Wells Fargo Bank (6.55%).

    RAPID CITY, SD Mortgage Market Share & Volume

    Loan origination value is a good proxy for a lender's prominence within the market. The general assumption is that larger lenders will have more resources, but may spend more (and therefore charge more) on marketing and overhead expenses.

    Name 2022 Loan Value 2023 Loan Value % Change 2023 Market Share
    CMG MORTGAGE, INC. $118,780,000 $123,615,000 4.1% 15.2%
    BLACK HILLS FEDERAL CREDIT UNION $136,855,000 $78,990,000 -42.3% 9.7%
    Gateway First Bank $75,190,000 $57,385,000 -23.7% 7.1%
    UNITED WHOLESALE MORTGAGE, LLC $73,730,000 $56,520,000 -23.3% 7.0%
    Unify Home Lending Inc. $37,090,000 $43,725,000 17.9% 5.4%
    Plains Commerce Bank $36,195,000 $36,635,000 1.2% 4.5%
    Cedar Rapids Bank and Trust Company $32,005,000 n/a 3.9%
    WALKER & DUNLOP, LLC $30,355,000 n/a 3.7%
    JONES LANG LASALLE MULTIFAMILY, LLC $25,565,000 n/a 3.1%
    QUICKEN LOANS, LLC $29,000,000 $18,980,000 -34.6% 2.3%
    First National Bank $35,915,000 $18,770,000 -47.7% 2.3%
    Cornerstone Bank $255,000 $17,145,000 6,623.5% 2.1%
    Dacotah Bank $29,450,000 $16,385,000 -44.4% 2.0%
    Black Hills Community Bank $25,210,000 $15,075,000 -40.2% 1.9%
    AMERICAN PACIFIC MORTGAGE CORPORATION $865,000 $14,905,000 1,623.1% 1.8%
    Pioneer Bank & Trust $16,785,000 $14,245,000 -15.1% 1.8%
    First Interstate Bank $44,210,000 $14,170,000 -67.9% 1.7%
    PENNYMAC LOAN SERVICES, LLC $11,810,000 $13,570,000 14.9% 1.7%
    Mortgage Research Center, LLC $18,620,000 $12,415,000 -33.3% 1.5%
    U.S. Bank $38,385,000 $11,905,000 -69.0% 1.5%
    BANKWEST, INC. $20,350,000 $11,490,000 -43.5% 1.4%
    HIGHMARK $10,720,000 $8,230,000 -23.2% 1.0%
    Security First Bank $23,610,000 $7,670,000 -67.5% 0.9%
    The Huntington National Bank $4,620,000 $7,485,000 62.0% 0.9%
    Servion, Inc. $4,475,000 $6,960,000 55.5% 0.9%
    DAS Acquisition Company, LLC $6,670,000 $5,895,000 -11.6% 0.7%
    Wells Fargo Bank $22,460,000 $5,505,000 -75.5% 0.7%
    USAA Federal Savings Bank $4,945,000 $4,485,000 -9.3% 0.6%
    Century Mortgage Company DBA Century Lending Company $1,680,000 $4,275,000 154.5% 0.5%
    Mr. Cooper ( Nationstar Mortgage ) $8,745,000 $3,465,000 -60.4% 0.4%
    LOANDEPOT.COM, LLC $7,435,000 $3,095,000 -58.4% 0.4%
    NAVY FEDERAL CREDIT UNION $7,515,000 $2,795,000 -62.8% 0.3%
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION $3,855,000 $2,680,000 -30.5% 0.3%
    Flagstar Bank, FSB $5,295,000 $2,495,000 -52.9% 0.3%
    JPMorgan Chase Bank $4,435,000 $2,495,000 -43.7% 0.3%
    Northern Hills FCU $4,195,000 $2,385,000 -43.1% 0.3%
    Arbor Realty Trust, Inc. $2,375,000 n/a 0.3%
    Lend Smart Mortgage, LLC $27,770,000 $2,195,000 -92.1% 0.3%
    FIRST COLONY MORTGAGE CORPORATION $2,015,000 n/a 0.2%
    Home Federal Savings Bank $1,895,000 n/a 0.2%
    MUTUAL OF OMAHA MORTGAGE, INC. $1,605,000 $1,815,000 13.1% 0.2%
    NEWREZ LLC $5,580,000 $1,815,000 -67.5% 0.2%
    Morgan Stanley Private Bank $935,000 $1,770,000 89.3% 0.2%
    Raymond James Bank $1,710,000 n/a 0.2%
    The Federal Savings Bank $3,550,000 $1,655,000 -53.4% 0.2%
    Discover Bank $365,000 $1,650,000 352.1% 0.2%
    Farm Credit Mid-America, ACA $3,035,000 $1,645,000 -45.8% 0.2%
    First State Bank $1,605,000 n/a 0.2%
    GUILD MORTGAGE COMPANY $1,040,000 $1,590,000 52.9% 0.2%
    First Dakota National Bank $2,675,000 $1,560,000 -41.7% 0.2%
    ARK-LA-TEX FINANCIAL SERVICES, LLC. $675,000 $1,555,000 130.4% 0.2%
    OPEN MORTGAGE, LLC $5,115,000 $1,530,000 -70.1% 0.2%
    GUARANTEED RATE, INC. $1,225,000 $1,435,000 17.1% 0.2%
    ANGEL OAK MORTGAGE SOLUTIONS LLC $495,000 $1,330,000 168.7% 0.2%
    White Sands Federal Credit Union $1,275,000 n/a 0.2%
    BROKER SOLUTIONS, INC. $3,100,000 $1,270,000 -59.0% 0.2%
    BMO Harris Bank $55,000 $1,255,000 2,181.8% 0.2%
    FREEDOM MORTGAGE CORPORATION $10,925,000 $1,255,000 -88.5% 0.2%
    PENTAGON FEDERAL CREDIT UNION $1,330,000 $1,240,000 -6.8% 0.2%
    American Bank & Trust $54,735,000 $1,175,000 -97.9% 0.1%
    Commerce Home Mortgage, Inc. $1,145,000 n/a 0.1%
    MOVEMENT MORTGAGE, LLC $1,290,000 $1,115,000 -13.6% 0.1%
    Carrington Mortgage Services, LLC $1,320,000 $875,000 -33.7% 0.1%
    CARDINAL FINANCIAL $3,730,000 $870,000 -76.7% 0.1%
    First Bank & Trust $860,000 $865,000 0.6% 0.1%
    First Federal Bank $410,000 $860,000 109.8% 0.1%
    TRIAD FINANCIAL SERVICES, INC. $855,000 n/a 0.1%
    Gate City Bank $555,000 $830,000 49.5% 0.1%
    FINANCE OF AMERICA REVERSE LLC $195,000 $730,000 274.4% 0.1%
    VILLAGE CAPITAL MORTGAGE $610,000 $720,000 18.0% 0.1%
    Goldwater Bank, N.A. $715,000 n/a 0.1%
    Magnolia Bank $285,000 $710,000 149.1% 0.1%
    The First National Bank in Sioux Falls $905,000 $695,000 -23.2% 0.1%
    AMERISAVE MORTGAGE CORPORATION $2,810,000 $690,000 -75.4% 0.1%
    Central Bank $1,180,000 $690,000 -41.5% 0.1%
    Figure Lending LLC $45,000 $685,000 1,422.2% 0.1%
    United Fidelity Funding Corp. $685,000 n/a 0.1%
    HOMESTAR FINANCIAL CORPORATION $38,815,000 $670,000 -98.3% 0.1%
    Adams Bank & Trust $665,000 n/a 0.1%
    NBKC BANK $335,000 $660,000 97.0% 0.1%
    Barrington Bank & Trust Company, N.A. $1,825,000 $645,000 -64.7% 0.1%
    AMCAP MORTGAGE, LTD. $615,000 n/a 0.1%
    Charles Schwab Bank, SSB $615,000 n/a 0.1%
    NEW DAY FINANCIAL, LLC $4,665,000 $580,000 -87.6% 0.1%
    OCMBC, INC. $545,000 n/a 0.1%
    AMERICAN FINANCIAL RESOURCES, INC. $145,000 $540,000 272.4% 0.1%
    SERVICE FIRST FEDERAL CREDIT UNION $505,000 n/a 0.1%
    The Central Trust Bank $375,000 $500,000 33.3% 0.1%
    CorTrust Bank $25,000 $495,000 1,880.0% 0.1%
    UNION HOME MORTGAGE CORP. $495,000 n/a 0.1%
    Northpointe Bank $405,000 $490,000 21.0% 0.1%
    PLANET HOME LENDING, LLC $1,655,000 $490,000 -70.4% 0.1%
    PRIMARY RESIDENTIAL MORTGAGE, INC. $580,000 $480,000 -17.2% 0.1%
    BAY EQUITY LLC $340,000 $465,000 36.8% 0.1%
    CU MORTGAGE DIRECT, LLC $865,000 $440,000 -49.1% 0.1%
    AmeriHome Mortgage Company, LLC $425,000 n/a 0.1%
    Bell Bank $42,495,000 $425,000 -99.0% 0.1%
    NFM, INC. $315,000 $425,000 34.9% 0.1%
    Bank of America $3,840,000 $420,000 -89.1% 0.1%
    HOMEBRIDGE FINANCIAL SERVICES, INC. $500,000 $410,000 -18.0% 0.1%
    Dover Federal Credit Union $405,000 n/a 0.0%
    Equity Prime Mortgage LLC $545,000 $405,000 -25.7% 0.0%
    Security First Bank of North Dakota $385,000 n/a 0.0%
    FirstBank $380,000 n/a 0.0%
    Bank of England $365,000 n/a 0.0%
    LAKEVIEW LOAN SERVICING, LLC $3,065,000 $360,000 -88.3% 0.0%
    CROSSCOUNTRY MORTGAGE, LLC $970,000 $355,000 -63.4% 0.0%
    Nations Lending Corporation $155,000 $355,000 129.0% 0.0%
    POLARIS HOME FUNDING CORP. $145,000 $355,000 144.8% 0.0%
    Great Southern Bank $345,000 n/a 0.0%
    S1L, Inc. $345,000 n/a 0.0%
    TEXAS TECH $345,000 n/a 0.0%
    Prosperity Home Mortgage, LLC $330,000 n/a 0.0%
    First PREMIER Bank $1,240,000 $325,000 -73.8% 0.0%
    North American Savings Bank, F.S.B. $640,000 $315,000 -50.8% 0.0%
    Coastal Community Bank $310,000 n/a 0.0%
    AMERICAN FINANCIAL NETWORK, INC. $305,000 n/a 0.0%
    Citizens Bank $985,000 $305,000 -69.0% 0.0%
    MidFirst Bank $305,000 n/a 0.0%
    Paramount Residential Mortgage Group, Inc. $1,470,000 $305,000 -79.3% 0.0%
    Opportunity Bank of Montana $295,000 n/a 0.0%
    BNC National Bank $285,000 n/a 0.0%
    Flanagan State Bank $775,000 $285,000 -63.2% 0.0%
    Centier Bank $280,000 n/a 0.0%
    First Bank $275,000 n/a 0.0%
    Minnwest Bank $275,000 n/a 0.0%
    Cache Valley Bank $265,000 n/a 0.0%
    Lakeview Community Capital, LLC $265,000 n/a 0.0%
    M&T Bank $265,000 n/a 0.0%
    First International Bank & Trust $1,300,000 $255,000 -80.4% 0.0%
    GSF Mortgage Corporation $255,000 n/a 0.0%
    VERIDIAN CREDIT UNION $305,000 $255,000 -16.4% 0.0%
    ANB Bank $235,000 n/a 0.0%
    Core Bank $235,000 n/a 0.0%
    West Gate Bank $245,000 $230,000 -6.1% 0.0%
    GreenStone Farm Credit Services, FLCA $225,000 n/a 0.0%
    Heritage Bank $5,365,000 $225,000 -95.8% 0.0%
    SUMMIT MORTGAGE CORPORATION $395,000 $225,000 -43.0% 0.0%
    Waterstone Mortgage Corporation $225,000 n/a 0.0%
    First National Bank of Omaha $215,000 n/a 0.0%
    ZILLOW HOME LOANS, LLC $205,000 n/a 0.0%
    IOWA BANKERS MORTGAGE CORPORATION $195,000 n/a 0.0%
    PHH Mortgage Corporation $350,000 $185,000 -47.1% 0.0%
    Truist $145,000 $185,000 27.6% 0.0%
    Willamette Valley Bank $185,000 n/a 0.0%
    A&D Mortgage LLC $175,000 n/a 0.0%
    SIOUX FALLS $170,000 n/a 0.0%
    MORIA DEVELOPMENT, INC. $165,000 n/a 0.0%
    DOMINION FINANCIAL SERVICES, LLC $145,000 n/a 0.0%
    RANLIFE, INC. $145,000 n/a 0.0%
    Home Federal Savings & Loan Association of Grand Island $135,000 n/a 0.0%
    Pinnacle Bank - Wyoming $265,000 $125,000 -52.8% 0.0%
    21ST MORTGAGE CORPORATION $610,000 $80,000 -86.9% 0.0%
    MEMBER FIRST MORTGAGE, LLC $65,000 n/a 0.0%
    WINGS FINANCIAL $285,000 $65,000 -77.2% 0.0%
    United States Senate Federal Credit Union $35,000 n/a 0.0%
    Service Federal Credit Union $25,000 n/a 0.0%
    VOYAGE FEDERAL CREDIT UNION $25,000 n/a 0.0%

    RAPID CITY's top lender by overall market share is CMG MORTGAGE, INC., with 15.2% market share. In second place, with 9.7%, is BLACK HILLS FEDERAL CREDIT UNION, having originated $78,990,000 in loans. In third place, with 7.1%, is Gateway First Bank, having originated $57,385,000 in loans. In fourth place, with 7.0%, is UNITED WHOLESALE MORTGAGE, LLC, having originated $56,520,000 in loans. In fifth place, with 5.4%, is Unify Home Lending Inc., having originated $43,725,000 in loans.

    RAPID CITY Housing Market Trends (Median, Average Prices & Listing Count)

    Realtor.com - RAPID CITY (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
    2018-01-01 $242,400 (1.6%) $307,944 (0.2%) 0.90 666
    2018-02-01 $247,000 (3.0%) $315,156 (0.6%) 0.90 684
    2018-03-01 $255,000 (2.0%) $318,170 (0.6%) 0.89 699
    2018-04-01 $267,250 (6.5%) $326,370 (1.6%) 0.91 723
    2018-05-01 $265,925 (6.4%) $327,684 (2.5%) 0.89 803
    2018-06-01 $273,000 (10.0%) $336,305 (6.6%) 0.91 789
    2018-07-01 $269,000 (8.7%) $332,370 (6.5%) 0.90 791
    2018-08-01 $269,225 (10.2%) $336,052 (7.9%) 0.90 776
    2018-09-01 $263,900 (9.1%) $328,789 (6.8%) 0.89 799
    2018-10-01 $265,200 (11.2%) $330,357 (7.2%) 0.90 748
    2018-11-01 $269,900 (12.5%) $329,059 (6.3%) 0.91 689
    2018-12-01 $269,900 (12.5%) $324,496 (7.6%) 0.93 599
    2019-01-01 $269,225 (11.1%) $322,629 (4.8%) 0.93 565
    2019-02-01 $269,000 (8.9%) $320,678 (1.8%) 0.91 598
    2019-03-01 $269,900 (5.8%) $324,474 (2.0%) 0.88 628
    2019-04-01 $268,763 (0.6%) $326,239 (0.0%) 0.85 663
    2019-05-01 $259,900 (-2.3%) $322,148 (-1.7%) 0.81 738
    2019-06-01 $259,900 (-4.8%) $321,608 (-4.4%) 0.81 785
    2019-07-01 $259,950 (-3.4%) $330,464 (-0.6%) 0.81 780
    2019-08-01 $258,359 (-4.0%) $328,944 (-2.1%) 0.82 755
    2019-09-01 $256,048 (-3.0%) $325,673 (-1.0%) 0.82 718
    2019-10-01 $254,832 (-3.9%) $323,781 (-2.0%) 0.82 688
    2019-11-01 $259,900 (-3.7%) $325,282 (-1.2%) 0.85 661
    2019-12-01 $259,900 (-3.7%) $326,103 (0.5%) 0.87 569
    2020-01-01 $279,900 (4.0%) $384,214 (19.1%) 0.94 333
    2020-02-01 $292,498 (8.7%) $403,463 (25.8%) 0.96 331
    2020-03-01 $308,450 (14.3%) $437,327 (34.8%) 0.97 312
    2020-04-01 $301,950 (12.4%) $430,019 (31.8%) 0.95 358
    2020-05-01 $299,900 (15.4%) $426,334 (32.3%) 0.91 357
    2020-06-01 $314,450 (21.0%) $442,917 (37.7%) 0.93 328
    2020-07-01 $321,250 (23.6%) $458,337 (38.7%) 0.93 265
    2020-08-01 $299,000 (15.7%) $464,466 (41.2%) 0.86 237
    2020-09-01 $285,925 (11.7%) $465,663 (43.0%) 0.82 194
    2020-10-01 $281,000 (10.3%) $469,070 (44.9%) 0.81 174
    2020-11-01 $287,200 (10.5%) $466,541 (43.4%) 0.84 149
    2020-12-01 $268,675 (3.4%) $455,704 (39.7%) 0.80 131
    2021-01-01 $246,900 (-11.8%) $383,298 (-0.2%) 0.74 117
    2021-02-01 $246,800 (-15.6%) $412,638 (2.3%) 0.72 86
    2021-03-01 $335,550 (8.8%) $468,206 (7.1%) 0.95 85
    2021-04-01 $349,475 (15.7%) $457,106 (6.3%) 0.95 92
    2021-05-01 $335,000 (11.7%) $461,563 (8.3%) 0.89 92
    2021-06-01 $344,900 (9.7%) $474,087 (7.0%) 0.91 124
    2021-07-01 $344,900 (7.4%) $450,208 (-1.8%) 0.91 144
    2021-08-01 $336,400 (12.5%) $439,164 (-5.5%) 0.90 164
    2021-09-01 $352,400 (23.3%) $478,364 (2.7%) 0.94 174
    2021-10-01 $347,900 (23.8%) $490,237 (4.5%) 0.93 158
    2021-11-01 $354,900 (23.6%) $513,485 (10.1%) 0.95 144
    2021-12-01 $354,900 (32.1%) $546,212 (19.9%) 0.96 120
    2022-01-01 $359,900 (45.8%) $573,391 (49.6%) 0.97 107
    2022-02-01 $359,900 (45.8%) $589,127 (42.8%) 0.94 117
    2022-03-01 $374,950 (11.7%) $677,349 (44.7%) 0.94 128
    2022-04-01 $385,000 (10.2%) $608,777 (33.2%) 0.92 156
    2022-05-01 $389,900 (16.4%) $600,631 (30.1%) 0.89 121
    2022-06-01 $389,900 (13.1%) $551,939 (16.4%) 0.87 193
    2022-07-01 $402,400 (16.7%) $554,641 (23.2%) 0.91 217
    2022-08-01 $409,000 (21.6%) $544,631 (24.0%) 0.95 252
    2022-09-01 $399,900 (13.5%) $527,294 (10.2%) 0.93 268
    2022-10-01 $399,900 (15.0%) $503,658 (2.7%) 0.94 275
    2022-11-01 $429,675 (21.1%) $596,471 (16.2%) 1.03 345
    2022-12-01 $405,000 (14.1%) $521,098 (-4.6%) 1.00 247
    2023-01-01 $396,175 (10.1%) $506,473 (-11.7%) 0.98 226
    2023-02-01 $388,499 (8.0%) $507,711 (-13.8%) 0.94 206
    2023-03-01 $384,498 (2.6%) $512,384 (-24.4%) 0.91 143
    2023-04-01 $435,000 (13.0%) $561,686 (-7.7%) 1.01 154
    2023-05-01 $433,224 (11.1%) $553,858 (-7.8%) 0.98 200
    2023-06-01 $433,675 (11.2%) $576,372 (4.4%) 0.97 254
    2023-07-01 $429,900 (6.8%) $552,848 (-0.3%) 0.98 298
    2023-08-01 $414,950 (1.5%) $552,389 (1.4%) 0.95 324
    2023-09-01 $409,000 (2.3%) $550,748 (4.5%) 0.95 331
    2023-10-01 $421,300 (5.4%) $588,109 (16.8%) 0.99 360
    2023-11-01 $399,500 (-7.0%) $568,011 (-4.8%) 0.95 377
    2023-12-01 $398,000 (-1.7%) $573,466 (10.1%) 0.97 345
    2024-01-01 $385,000 (-2.8%) $576,774 (13.9%) 0.94 332
    2024-02-01 $381,000 (-1.9%) $563,761 (11.0%) 0.92 315
    2024-03-01 $395,000 (2.7%) $570,762 (11.4%) 0.93 327
    2024-04-01 $401,750 (-7.6%) $585,212 (4.2%) 0.93 324
    2024-05-01 $422,500 (-2.5%) $603,312 (8.9%) 0.95 329
    2024-06-01 $425,000 (-2.0%) $594,489 (3.1%) 0.96 371
    2024-07-01 $439,925 (2.3%) $591,872 (7.1%) 1.01 405
    2024-08-01 $429,900 (3.6%) $582,801 (5.5%) 1.00 434
    2024-09-01 $420,000 (2.7%) $568,874 (3.3%) 0.99 469
    2024-10-01 $410,000 (-2.7%) $549,886 (-6.5%) 0.96 470
    RAPID CITY's median listing price for 2024-10-01 was $410,000, a difference of $-11,300 (-2.7%) versus the prior year and $-10,000 versus the prior month.

    RAPID CITY's median listing price comes in at 96% of the national average.

    RAPID CITY's average listing price for 2024-10-01 was $549,886, a difference of $-38,223 (-6.5%) versus the prior year and $-18,988 versus the prior month.

    For the 2024-10-01 period, RAPID CITY had 470 MLS listings, a difference of 1 listings (0%) versus the prior month and 110 listings (31%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - RAPID CITY (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 68 days 2,205 sqft
    2018-02-01 65 days 2,214 sqft
    2018-03-01 54 days 2,254 sqft
    2018-04-01 50 days 2,297 sqft
    2018-05-01 48 days 2,262 sqft
    2018-06-01 45 days 2,304 sqft
    2018-07-01 47 days 2,270 sqft
    2018-08-01 52 days 2,269 sqft
    2018-09-01 49 days 2,239 sqft
    2018-10-01 54 days 2,263 sqft
    2018-11-01 62 days 2,262 sqft
    2018-12-01 70 days 2,245 sqft
    2019-01-01 68 days 2,206 sqft
    2019-02-01 52 days 2,210 sqft
    2019-03-01 47 days 2,232 sqft
    2019-04-01 46 days 2,214 sqft
    2019-05-01 43 days 2,145 sqft
    2019-06-01 46 days 2,134 sqft
    2019-07-01 44 days 2,153 sqft
    2019-08-01 45 days 2,161 sqft
    2019-09-01 46 days 2,172 sqft
    2019-10-01 47 days 2,186 sqft
    2019-11-01 54 days 2,184 sqft
    2019-12-01 63 days 2,173 sqft
    2020-01-01 67 days 2,303 sqft
    2020-02-01 50 days 2,360 sqft
    2020-03-01 46 days 2,315 sqft
    2020-04-01 43 days 2,309 sqft
    2020-05-01 44 days 2,236 sqft
    2020-06-01 45 days 2,293 sqft
    2020-07-01 52 days 2,331 sqft
    2020-08-01 40 days 2,260 sqft
    2020-09-01 44 days 2,198 sqft
    2020-10-01 38 days 2,112 sqft
    2020-11-01 41 days 1,981 sqft
    2020-12-01 39 days 1,918 sqft
    2021-01-01 55 days 1,824 sqft
    2021-02-01 48 days 1,805 sqft
    2021-03-01 20 days 2,028 sqft
    2021-04-01 15 days 2,066 sqft
    2021-05-01 8 days 2,090 sqft
    2021-06-01 12 days 2,093 sqft
    2021-07-01 17 days 1,827 sqft
    2021-08-01 25 days 1,683 sqft
    2021-09-01 26 days 1,828 sqft
    2021-10-01 33 days 1,764 sqft
    2021-11-01 37 days 1,696 sqft
    2021-12-01 59 days 1,816 sqft
    2022-01-01 61 days 1,920 sqft
    2022-02-01 34 days 1,881 sqft
    2022-03-01 39 days 1,923 sqft
    2022-04-01 30 days 1,920 sqft
    2022-05-01 23 days 1,931 sqft
    2022-06-01 25 days 1,928 sqft
    2022-07-01 32 days 2,000 sqft
    2022-08-01 35 days 2,073 sqft
    2022-09-01 32 days 1,997 sqft
    2022-10-01 33 days 1,968 sqft
    2022-11-01 53 days 1,969 sqft
    2022-12-01 63 days 1,978 sqft
    2023-01-01 59 days 1,958 sqft
    2023-02-01 51 days 1,940 sqft
    2023-03-01 49 days 1,869 sqft
    2023-04-01 47 days 2,014 sqft
    2023-05-01 29 days 1,941 sqft
    2023-06-01 31 days 1,994 sqft
    2023-07-01 36 days 2,012 sqft
    2023-08-01 39 days 1,966 sqft
    2023-09-01 43 days 1,979 sqft
    2023-10-01 39 days 2,003 sqft
    2023-11-01 44 days 1,941 sqft
    2023-12-01 60 days 1,915 sqft
    2024-01-01 71 days 1,895 sqft
    2024-02-01 52 days 1,848 sqft
    2024-03-01 64 days 1,846 sqft
    2024-04-01 62 days 1,865 sqft
    2024-05-01 38 days 1,933 sqft
    2024-06-01 36 days 1,960 sqft
    2024-07-01 40 days 1,986 sqft
    2024-08-01 43 days 1,880 sqft
    2024-09-01 46 days 1,861 sqft
    2024-10-01 53 days 1,849 sqft
    RAPID CITY's median listing age (time on market) for 2024-10-01 was 53 days. This is 35% longer than the same period one year ago.

    RAPID CITY's median square footage for active listings during the 2024-10-01 period was 1,849 sqft. One year prior, the average listing was 2,003 sqft.

    RAPID CITY, SD Average Rent (2023)

    Zoom/scroll map to see average rent by zip code. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results.

    For additional perspective within a market, below is information regarding the average rents (as defined by HUD) for zip codes within the metro area. Descriptive statistics (average, median) are shown below the table.
    Zip Code Metro Studio Apartment Rent 1BR Apartment Rent 2BR Apartment Rent 3BR Apartment Rent 4BR Apartment Rent
    57553 Rapid City, SD HUD Metro FMR Area $670 $760 $1,000 $1,380 $1,520
    57701 Rapid City, SD HUD Metro FMR Area $640 $720 $950 $1,310 $1,450
    57702 Rapid City, SD HUD Metro FMR Area $730 $830 $1,090 $1,500 $1,660
    57703 Rapid City, SD HUD Metro FMR Area $800 $900 $1,190 $1,640 $1,800
    57706 Rapid City, SD HUD Metro FMR Area $760 $860 $1,140 $1,520 $1,910
    57709 Rapid City, SD HUD Metro FMR Area $670 $760 $1,000 $1,380 $1,520
    57718 Rapid City, SD HUD Metro FMR Area $720 $820 $1,080 $1,440 $1,840
    57719 Rapid City, SD HUD Metro FMR Area $700 $800 $1,050 $1,440 $1,620
    57725 Rapid City, SD HUD Metro FMR Area $690 $780 $1,030 $1,410 $1,580
    57730 Rapid City, SD HUD Metro FMR Area $700 $800 $1,050 $1,450 $1,590
    57732 Rapid City, SD HUD Metro FMR Area $670 $760 $1,000 $1,380 $1,520
    57744 Rapid City, SD HUD Metro FMR Area $680 $770 $1,010 $1,390 $1,530
    57745 Rapid City, SD HUD Metro FMR Area $570 $650 $850 $1,200 $1,350
    57750 Rapid City, SD HUD Metro FMR Area $670 $760 $1,000 $1,380 $1,520
    57751 Rapid City, SD HUD Metro FMR Area $550 $630 $830 $1,170 $1,320
    57754 Rapid City, SD HUD Metro FMR Area $670 $760 $1,000 $1,380 $1,520
    57761 Rapid City, SD HUD Metro FMR Area $610 $690 $910 $1,240 $1,420
    57767 Rapid City, SD HUD Metro FMR Area $610 $690 $910 $1,240 $1,420
    57775 Rapid City, SD HUD Metro FMR Area $550 $630 $830 $1,170 $1,320
    57780 Rapid City, SD HUD Metro FMR Area $670 $760 $1,000 $1,380 $1,520
    57790 Rapid City, SD HUD Metro FMR Area $550 $630 $830 $1,170 $1,320
    57791 Rapid City, SD HUD Metro FMR Area $560 $640 $840 $1,170 $1,420
    82701 Rapid City, SD HUD Metro FMR Area $670 $760 $1,000 $1,380 $1,520

    2022 Average & Median Rent Data Statistics
    RAPID CITY, SD average 1BR rent: $746, median: $760
    RAPID CITY, SD average 2BR rent: $982, median: $1,000
    RAPID CITY, SD average 3BR rent: $1,353, median: $1,380

    RAPID CITY, SD Market Loan Reason

    Loan Purpose Originations Total Value Average Loan
    Home Purchase 1,753 $647,095,000 $369,136
    Home Improvement 354 $30,650,000 $86,582
    Cash Out Refi 300 $65,950,000 $219,833
    Refi 269 $56,375,000 $209,572
    Other 101 $12,325,000 $122,030

    Rapid City's most frequently cited loan purpose was Home Purchase, with 1,753 originations. The 2nd most popular reason was Home Improvement, with 354 originations.

    Interest Rate Frequencies

    Loan Rate Originations Total Value Average Loan
    6-7% 955 $305,475,000 $319,869
    7-8% 666 $150,760,000 $226,366
    5-6% 478 $207,970,000 $435,084
    Over 8% 430 $50,720,000 $117,953
    <2.5% 46 $1,610,000 $35,000
    4-5% 23 $9,315,000 $405,000
    3-4% 6 $12,360,000 $2,060,000
    2.5-3% 6 $600,000 $100,000

    During 2023, Rapid City's most frequently originated rate bucket was 6-7%, with 955 originations.

    Loan Sizing (RAPID CITY, SD MSA)

    Loan Size Originations Total Value Average Loan
    $200k-400k 1,284 $371,720,000 $289,502
    $100,000 or less 607 $30,875,000 $50,865
    $100k-200k 489 $72,835,000 $148,947
    $400k-600k 295 $139,525,000 $472,966
    $600k-1000k 81 $57,565,000 $710,679
    $Over $1MM 21 $139,875,000 $6,660,714

    RAPID CITY's loan sizing saw the bucket of loans from $200k-400k with 1,284 originations, totaling $371,720,000 in origination value.

    LTV Distribution

    Loan to Value Originations Total Value Average Loan
    80-100% 1,040 $356,640,000 $342,923
    60-80% 515 $213,055,000 $413,699
    Under 20% 420 $22,210,000 $52,881
    20-40% 289 $45,835,000 $158,599
    40-60% 220 $54,430,000 $247,409
    Over 100% 106 $38,410,000 $362,358

    RAPID CITY's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 1,040 originations, totaling $356,640,000 in origination value.