RAPID CITY Mortgage Rates & Closing Costs

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

30 Year Fixed Rate mortgages in Rapid City averaged 6.68% for the week of 2024-05-16, compared to the national average of 7.02% for the same period.

The average rate for the prior week (2024-05-09) was 6.95% and one month ago for the week of 2024-04-11, the average rate was 6.64%.

Rapid City's average rate one year ago was 6.11%.

For refis of the same type during the week of 2024-05-16, the average rate was 7.56%.

Loan Type Date Rate
US 30 Year Fixed Rate 2024-05-16 7.02%
Rapid City 30 Year Fixed Rate 2024-05-16 6.68%
Rapid City 30 Year Fixed Rate Refi 2024-05-16 7.56%
Rapid City 15 Year Fixed Rate 2024-05-16 6.28%
Rapid City 15 Year Fixed Rate Refi 2024-05-16 6.18%
Rapid City 30 Year FHA 2024-05-16 6.74%
Rapid City 30 Year FHA Refi 2024-05-16 6.84%
Rapid City 30 Year USDA 2024-05-16 6.95%
Rapid City 30 Year USDA Refi 2024-05-16 6.85%
Rapid City 30 Year VA 2024-05-16 6.06%
Rapid City 30 Year VA Refi 2024-05-16 6.5%
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
RAPID CITY's median listing price for 2024-04-01 was $401,750, a difference of $-33,250 (-7.6%) versus the prior year and $6,750 versus the prior month.

RAPID CITY's median listing price comes in at 93% of the national average.

RAPID CITY's average listing price for 2024-04-01 was $585,212, a difference of $23,526 (4.2%) versus the prior year and $14,450 versus the prior month.

For the 2024-04-01 period, RAPID CITY had 324 MLS listings, a difference of -3 listings (-1%) versus the prior month and 170 listings (110%) 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
RAPID CITY's median listing age (time on market) for 2024-04-01 was 62 days. This is 32% longer than the same period one year ago.

RAPID CITY's median square footage for active listings during the 2024-04-01 period was 1,865 sqft. One year prior, the average listing was 2,014 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.