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 6.51% for the week of 2025-03-13, compared to the national average of 6.65% for the same period.

    The average rate for the prior week (2025-03-06) was 6.39% and one month ago for the week of 2025-02-06, the average rate was 6.75%.

    Rapid City's average rate one year ago was 6.84%.

    For refis of the same type during the week of 2025-03-13, the average rate was 6.99%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2025-03-13 6.65%
    Rapid City 30 Year Fixed Rate 2025-03-13 6.51%
    Rapid City 30 Year Fixed Rate Refi 2025-03-13 6.99%
    Rapid City 15 Year Fixed Rate 2025-03-13 5.7%
    Rapid City 15 Year Fixed Rate Refi 2025-03-13 5.7%
    Rapid City 30 Year FHA 2025-03-13 6.04%
    Rapid City 30 Year FHA Refi 2025-03-13 6.55%
    Rapid City 30 Year USDA 2025-03-13 6.4%
    Rapid City 30 Year USDA Refi 2025-03-13 6.2%
    Rapid City 30 Year VA 2025-03-13 6.03%
    Rapid City 30 Year VA Refi 2025-03-13 6.07%
    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 $247,400 (3.5%) $316,348 (2.8%) 0.92 727
    2018-02-01 $249,950 (4.2%) $323,645 (3.5%) 0.91 745
    2018-03-01 $258,950 (3.6%) $324,930 (2.2%) 0.91 771
    2018-04-01 $268,450 (5.8%) $331,579 (2.6%) 0.91 797
    2018-05-01 $267,175 (6.6%) $331,877 (3.2%) 0.89 882
    2018-06-01 $274,500 (10.0%) $338,609 (6.3%) 0.92 879
    2018-07-01 $269,975 (8.7%) $336,688 (6.5%) 0.90 879
    2018-08-01 $269,000 (9.6%) $339,744 (7.6%) 0.90 865
    2018-09-01 $264,700 (8.0%) $332,913 (6.1%) 0.89 885
    2018-10-01 $268,789 (12.0%) $335,540 (6.1%) 0.91 822
    2018-11-01 $269,900 (10.0%) $332,472 (4.7%) 0.91 758
    2018-12-01 $269,900 (12.5%) $326,655 (5.1%) 0.93 660
    2019-01-01 $268,500 (8.5%) $324,513 (2.6%) 0.93 628
    2019-02-01 $269,000 (7.6%) $323,877 (0.1%) 0.91 658
    2019-03-01 $269,900 (4.2%) $328,120 (1.0%) 0.88 691
    2019-04-01 $269,900 (0.5%) $330,867 (-0.2%) 0.86 730
    2019-05-01 $262,400 (-1.8%) $328,181 (-1.1%) 0.82 812
    2019-06-01 $259,900 (-5.3%) $327,099 (-3.4%) 0.81 869
    2019-07-01 $265,200 (-1.8%) $337,828 (0.3%) 0.83 880
    2019-08-01 $263,336 (-2.1%) $338,569 (-0.4%) 0.83 853
    2019-09-01 $258,591 (-2.3%) $335,550 (0.8%) 0.83 811
    2019-10-01 $257,927 (-4.0%) $334,807 (-0.2%) 0.83 768
    2019-11-01 $259,900 (-3.7%) $341,374 (2.7%) 0.85 731
    2019-12-01 $259,900 (-3.7%) $342,809 (5.0%) 0.87 629
    2020-01-01 $285,425 (6.3%) $403,416 (24.3%) 0.95 381
    2020-02-01 $299,000 (11.2%) $420,534 (29.8%) 0.98 384
    2020-03-01 $319,900 (18.5%) $462,399 (40.9%) 1.00 371
    2020-04-01 $313,200 (16.0%) $456,666 (38.0%) 0.98 420
    2020-05-01 $309,900 (18.1%) $448,295 (36.6%) 0.94 411
    2020-06-01 $325,000 (25.1%) $465,814 (42.4%) 0.96 390
    2020-07-01 $330,950 (24.8%) $476,558 (41.1%) 0.96 318
    2020-08-01 $314,900 (19.6%) $491,187 (45.1%) 0.90 277
    2020-09-01 $299,900 (16.0%) $477,439 (42.3%) 0.86 227
    2020-10-01 $289,900 (12.4%) $486,814 (45.4%) 0.83 200
    2020-11-01 $290,175 (11.7%) $485,128 (42.1%) 0.85 166
    2020-12-01 $274,400 (5.6%) $476,731 (39.1%) 0.82 147
    2021-01-01 $249,900 (-12.5%) $396,255 (-1.8%) 0.75 130
    2021-02-01 $252,450 (-15.6%) $437,683 (4.1%) 0.73 98
    2021-03-01 $340,050 (6.3%) $485,094 (4.9%) 0.96 101
    2021-04-01 $351,975 (12.4%) $473,303 (3.6%) 0.95 105
    2021-05-01 $345,000 (11.3%) $487,902 (8.8%) 0.92 109
    2021-06-01 $356,675 (9.8%) $501,612 (7.7%) 0.94 141
    2021-07-01 $374,950 (13.3%) $497,583 (4.4%) 0.99 168
    2021-08-01 $348,650 (10.7%) $466,077 (-5.1%) 0.93 183
    2021-09-01 $366,675 (22.3%) $501,269 (5.0%) 0.98 190
    2021-10-01 $359,900 (24.2%) $509,395 (4.6%) 0.96 174
    2021-11-01 $364,900 (25.8%) $541,728 (11.7%) 0.98 163
    2021-12-01 $362,400 (32.1%) $578,812 (21.4%) 0.98 134
    2022-01-01 $364,900 (46.0%) $602,951 (52.2%) 0.99 121
    2022-02-01 $362,400 (43.6%) $603,594 (37.9%) 0.94 128
    2022-03-01 $393,325 (15.7%) $683,302 (40.9%) 0.98 145
    2022-04-01 $399,900 (13.6%) $683,031 (44.3%) 0.95 188
    2022-05-01 $427,475 (23.9%) $689,379 (41.3%) 0.98 146
    2022-06-01 $399,900 (12.1%) $619,270 (23.5%) 0.89 222
    2022-07-01 $425,000 (13.4%) $619,668 (24.5%) 0.96 253
    2022-08-01 $426,500 (22.3%) $607,004 (30.2%) 0.99 285
    2022-09-01 $422,475 (15.2%) $585,035 (16.7%) 0.99 300
    2022-10-01 $425,000 (18.1%) $569,013 (11.7%) 1.00 309
    2022-11-01 $449,450 (23.2%) $645,214 (19.1%) 1.08 378
    2022-12-01 $428,450 (18.2%) $601,732 (4.0%) 1.06 275
    2023-01-01 $414,900 (13.7%) $584,365 (-3.1%) 1.03 252
    2023-02-01 $404,950 (11.7%) $586,435 (-2.8%) 0.98 229
    2023-03-01 $404,450 (2.8%) $591,095 (-13.5%) 0.95 164
    2023-04-01 $452,500 (13.2%) $629,036 (-7.9%) 1.05 179
    2023-05-01 $457,000 (6.9%) $605,810 (-12.1%) 1.04 229
    2023-06-01 $464,950 (16.3%) $615,839 (-0.6%) 1.04 294
    2023-07-01 $454,900 (7.0%) $595,006 (-4.0%) 1.03 344
    2023-08-01 $439,900 (3.1%) $596,374 (-1.8%) 1.01 370
    2023-09-01 $432,448 (2.4%) $592,849 (1.3%) 1.01 376
    2023-10-01 $438,450 (3.2%) $620,526 (9.1%) 1.03 409
    2023-11-01 $419,500 (-6.7%) $598,292 (-7.3%) 1.00 428
    2023-12-01 $419,000 (-2.2%) $603,373 (0.3%) 1.02 383
    2024-01-01 $401,225 (-3.3%) $599,726 (2.6%) 0.98 365
    2024-02-01 $399,950 (-1.2%) $588,764 (0.4%) 0.96 348
    2024-03-01 $409,900 (1.4%) $595,738 (0.8%) 0.96 361
    2024-04-01 $422,450 (-6.6%) $608,557 (-3.3%) 0.98 364
    2024-05-01 $433,750 (-5.1%) $626,324 (3.4%) 0.99 371
    2024-06-01 $432,450 (-7.0%) $619,454 (0.6%) 0.98 420
    2024-07-01 $449,975 (-1.1%) $615,811 (3.5%) 1.03 452
    2024-08-01 $439,000 (-0.2%) $603,803 (1.3%) 1.02 479
    2024-09-01 $429,900 (-0.6%) $599,433 (1.1%) 1.01 517
    2024-10-01 $422,450 (-3.7%) $585,996 (-5.6%) 0.99 518
    2024-11-01 $419,900 (0.1%) $590,336 (-1.3%) 1.01 514
    2024-12-01 $422,450 (0.8%) $587,347 (-2.7%) 1.05 464
    2025-01-01 $414,950 (3.4%) $579,166 (-3.4%) 1.04 429
    2025-02-01 $417,500 (4.4%) $579,710 (-1.5%) 1.01 416
    RAPID CITY's median listing price for 2025-02-01 was $417,500, a difference of $17,550 (4.4%) versus the prior year and $2,550 versus the prior month.

    RAPID CITY's median listing price comes in at 101% of the national average.

    RAPID CITY's average listing price for 2025-02-01 was $579,710, a difference of $-9,054 (-1.5%) versus the prior year and $544 versus the prior month.

    For the 2025-02-01 period, RAPID CITY had 416 MLS listings, a difference of -13 listings (-3%) versus the prior month and 68 listings (20%) 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 72 days 2,205 sqft
    2018-02-01 68 days 2,220 sqft
    2018-03-01 54 days 2,260 sqft
    2018-04-01 51 days 2,285 sqft
    2018-05-01 49 days 2,258 sqft
    2018-06-01 46 days 2,288 sqft
    2018-07-01 48 days 2,250 sqft
    2018-08-01 54 days 2,240 sqft
    2018-09-01 52 days 2,218 sqft
    2018-10-01 56 days 2,248 sqft
    2018-11-01 63 days 2,244 sqft
    2018-12-01 73 days 2,236 sqft
    2019-01-01 72 days 2,202 sqft
    2019-02-01 58 days 2,207 sqft
    2019-03-01 50 days 2,230 sqft
    2019-04-01 48 days 2,212 sqft
    2019-05-01 44 days 2,145 sqft
    2019-06-01 47 days 2,121 sqft
    2019-07-01 45 days 2,143 sqft
    2019-08-01 47 days 2,150 sqft
    2019-09-01 50 days 2,156 sqft
    2019-10-01 51 days 2,172 sqft
    2019-11-01 55 days 2,182 sqft
    2019-12-01 67 days 2,169 sqft
    2020-01-01 72 days 2,318 sqft
    2020-02-01 53 days 2,360 sqft
    2020-03-01 48 days 2,334 sqft
    2020-04-01 45 days 2,328 sqft
    2020-05-01 50 days 2,288 sqft
    2020-06-01 47 days 2,300 sqft
    2020-07-01 53 days 2,331 sqft
    2020-08-01 50 days 2,250 sqft
    2020-09-01 45 days 2,240 sqft
    2020-10-01 39 days 2,157 sqft
    2020-11-01 43 days 2,002 sqft
    2020-12-01 42 days 1,920 sqft
    2021-01-01 56 days 1,840 sqft
    2021-02-01 47 days 1,881 sqft
    2021-03-01 21 days 2,139 sqft
    2021-04-01 17 days 2,129 sqft
    2021-05-01 10 days 2,122 sqft
    2021-06-01 14 days 2,123 sqft
    2021-07-01 17 days 1,970 sqft
    2021-08-01 26 days 1,730 sqft
    2021-09-01 28 days 1,912 sqft
    2021-10-01 33 days 1,812 sqft
    2021-11-01 41 days 1,806 sqft
    2021-12-01 60 days 1,872 sqft
    2022-01-01 67 days 1,920 sqft
    2022-02-01 35 days 1,924 sqft
    2022-03-01 38 days 1,920 sqft
    2022-04-01 27 days 1,924 sqft
    2022-05-01 25 days 1,969 sqft
    2022-06-01 25 days 1,959 sqft
    2022-07-01 32 days 2,008 sqft
    2022-08-01 37 days 2,076 sqft
    2022-09-01 36 days 2,028 sqft
    2022-10-01 36 days 2,000 sqft
    2022-11-01 54 days 2,001 sqft
    2022-12-01 65 days 2,013 sqft
    2023-01-01 66 days 2,006 sqft
    2023-02-01 54 days 1,984 sqft
    2023-03-01 52 days 1,953 sqft
    2023-04-01 47 days 1,998 sqft
    2023-05-01 30 days 1,933 sqft
    2023-06-01 33 days 2,031 sqft
    2023-07-01 36 days 2,033 sqft
    2023-08-01 41 days 1,990 sqft
    2023-09-01 44 days 1,994 sqft
    2023-10-01 40 days 2,001 sqft
    2023-11-01 46 days 1,947 sqft
    2023-12-01 65 days 1,920 sqft
    2024-01-01 74 days 1,909 sqft
    2024-02-01 59 days 1,857 sqft
    2024-03-01 65 days 1,855 sqft
    2024-04-01 63 days 1,876 sqft
    2024-05-01 39 days 1,923 sqft
    2024-06-01 37 days 1,942 sqft
    2024-07-01 42 days 1,990 sqft
    2024-08-01 44 days 1,900 sqft
    2024-09-01 48 days 1,882 sqft
    2024-10-01 54 days 1,861 sqft
    2024-11-01 64 days 1,839 sqft
    2024-12-01 74 days 1,837 sqft
    2025-01-01 77 days 1,823 sqft
    2025-02-01 69 days 1,819 sqft
    RAPID CITY's median listing age (time on market) for 2025-02-01 was 69 days. This is 16% longer than the same period one year ago.

    RAPID CITY's median square footage for active listings during the 2025-02-01 period was 1,819 sqft. One year prior, the average listing was 1,857 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.