RAPID CITY Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Rapid City averaged
6.76%
for the week of 2025-05-22, compared to the national average of
6.86% for the same period.
The average rate for the prior week (2025-05-15) was
6.91% and
one month ago for the week of 2025-04-17, the
average rate was 6.83%.
Rapid City's average rate one year ago was 7.12%.
For refis of the same type during the week of 2025-05-22, the average rate
was 6.86%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2025-05-22 | 6.86% |
| Rapid City 30 Year Fixed Rate | 2025-05-22 | 6.76% |
| Rapid City 30 Year Fixed Rate Refi | 2025-05-22 | 6.86% |
| Rapid City 15 Year Fixed Rate | 2025-05-22 | 5.91% |
| Rapid City 15 Year Fixed Rate Refi | 2025-05-22 | 6.51% |
| Rapid City 30 Year FHA | 2025-05-22 | 6.53% |
| Rapid City 30 Year FHA Refi | 2025-05-22 | 6.61% |
| Rapid City 30 Year USDA | 2025-05-22 | 6.63% |
| Rapid City 30 Year USDA Refi | 2025-05-22 | 6.23% |
| Rapid City 30 Year VA | 2025-05-22 | 6.62% |
| Rapid City 30 Year VA Refi | 2025-05-22 | 6.18% |
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.).
RAPID CITY Average Closing Costs & Other Stats
RAPID CITY, SD's 81 lenders originated 2,908
loans during 2024. The total origination value was $834,800,000, with an average loan value of
$287,070.
RAPID CITY's average closing costs are $5,772.
The top RAPID CITY lender as defined by loan originations is CMG MORTGAGE, INC., with
143 loans originated. Their average total fees are
$6,493, which is $252
higher than the next largest lender,
BLACK HILLS FEDERAL CREDIT UNION.
The lowest fee RAPID CITY lenders (with over 10 loans originated) are
Dacotah Bank ($3,892), U.S. Bank ($4,580), Gateway First Bank ($4,781), Wells Fargo Bank ($4,936) and UNION HOME MORTGAGE CORP. ($5,280).
The lowest rate RAPID CITY lenders (with over 10 loans originated) are
BLACK HILLS FEDERAL CREDIT UNION (6.36%), Granite Community Bank (6.40%), Gateway First Bank (6.52%), Plains Commerce Bank (6.55%) and Dacotah Bank (6.59%).
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 | 2023 Loan Value | 2024 Loan Value | % Change | 2024 Market Share |
|---|---|---|---|---|
| CMG MORTGAGE, INC. | $123,615,000 | $124,185,000 | 0.5% | 14.9% |
| BLACK HILLS FEDERAL CREDIT UNION | $78,990,000 | $98,425,000 | 24.6% | 11.8% |
| UNITED WHOLESALE MORTGAGE, LLC | $56,520,000 | $57,775,000 | 2.2% | 6.9% |
| Plains Commerce Bank | $36,635,000 | $55,495,000 | 51.5% | 6.6% |
| BANKWEST, INC. | $11,490,000 | $51,570,000 | 348.8% | 6.2% |
| Granite Community Bank | $33,085,000 | n/a | 4.0% | |
| QUICKEN LOANS, LLC | $18,980,000 | $28,305,000 | 49.1% | 3.4% |
| Gateway First Bank | $57,385,000 | $23,755,000 | -58.6% | 2.8% |
| U.S. Bank | $11,905,000 | $21,185,000 | 78.0% | 2.5% |
| Dacotah Bank | $16,385,000 | $19,705,000 | 20.3% | 2.4% |
| Pioneer Bank & Trust | $14,245,000 | $18,325,000 | 28.6% | 2.2% |
| Mortgage Research Center, LLC | $12,415,000 | $16,860,000 | 35.8% | 2.0% |
| Black Hills Community Bank | $15,075,000 | $16,795,000 | 11.4% | 2.0% |
| PENNYMAC LOAN SERVICES, LLC | $13,570,000 | $16,105,000 | 18.7% | 1.9% |
| AMERICAN PACIFIC MORTGAGE CORPORATION | $14,905,000 | $15,215,000 | 2.1% | 1.8% |
| Century Mortgage Company DBA Century Lending Company | $4,275,000 | $15,215,000 | 255.9% | 1.8% |
| WALKER & DUNLOP, LLC | $30,355,000 | $12,715,000 | -58.1% | 1.5% |
| Security First Bank | $7,670,000 | $12,110,000 | 57.9% | 1.5% |
| First National Bank | $18,770,000 | $10,430,000 | -44.4% | 1.2% |
| NEWREZ LLC | $1,815,000 | $9,740,000 | 436.6% | 1.2% |
| First Interstate Bank | $14,170,000 | $9,495,000 | -33.0% | 1.1% |
| FREEDOM MORTGAGE CORPORATION | $1,255,000 | $9,390,000 | 648.2% | 1.1% |
| HIGHMARK | $8,230,000 | $8,660,000 | 5.2% | 1.0% |
| TOWNE MORTGAGE COMPANY | $8,170,000 | n/a | 1.0% | |
| Mr. Cooper ( Nationstar Mortgage ) | $3,465,000 | $5,705,000 | 64.6% | 0.7% |
| SENTINEL FEDERAL CREDIT UNION | $5,520,000 | n/a | 0.7% | |
| NAVY FEDERAL CREDIT UNION | $2,795,000 | $5,270,000 | 88.6% | 0.6% |
| UNION HOME MORTGAGE CORP. | $495,000 | $5,185,000 | 947.5% | 0.6% |
| Northern Hills FCU | $2,385,000 | $4,860,000 | 103.8% | 0.6% |
| Servion, Inc. | $6,960,000 | $4,635,000 | -33.4% | 0.6% |
| LAKEVIEW LOAN SERVICING, LLC | $360,000 | $4,425,000 | 1,129.2% | 0.5% |
| Wells Fargo Bank | $5,505,000 | $4,410,000 | -19.9% | 0.5% |
| MUTUAL OF OMAHA MORTGAGE, INC. | $1,815,000 | $3,985,000 | 119.6% | 0.5% |
| USAA Federal Savings Bank | $4,485,000 | $3,635,000 | -19.0% | 0.4% |
| OPEN MORTGAGE, LLC | $1,530,000 | $3,615,000 | 136.3% | 0.4% |
| LOANDEPOT.COM, LLC | $3,095,000 | $3,530,000 | 14.1% | 0.4% |
| BMO Harris Bank | $1,255,000 | $3,160,000 | 151.8% | 0.4% |
| First Bank & Trust | $865,000 | $3,065,000 | 254.3% | 0.4% |
| Flagstar Bank, FSB | $2,495,000 | $3,055,000 | 22.4% | 0.4% |
| BROKER SOLUTIONS, INC. | $1,270,000 | $3,025,000 | 138.2% | 0.4% |
| The Huntington National Bank | $7,485,000 | $2,695,000 | -64.0% | 0.3% |
| Farm Credit Mid-America, ACA | $1,645,000 | $2,560,000 | 55.6% | 0.3% |
| JPMorgan Chase Bank | $2,495,000 | $2,445,000 | -2.0% | 0.3% |
| GUILD MORTGAGE COMPANY | $1,590,000 | $2,400,000 | 50.9% | 0.3% |
| ARK-LA-TEX FINANCIAL SERVICES, LLC. | $1,555,000 | $2,395,000 | 54.0% | 0.3% |
| The Federal Savings Bank | $1,655,000 | $2,355,000 | 42.3% | 0.3% |
| AMERICAN FINANCIAL RESOURCES, INC. | $540,000 | $2,080,000 | 285.2% | 0.2% |
| Midwest Bank | $2,005,000 | n/a | 0.2% | |
| MOVEMENT MORTGAGE, LLC | $1,115,000 | $1,885,000 | 69.1% | 0.2% |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $2,680,000 | $1,825,000 | -31.9% | 0.2% |
| Bridgewater Bank | $1,815,000 | n/a | 0.2% | |
| First International Bank & Trust | $255,000 | $1,555,000 | 509.8% | 0.2% |
| Carrington Mortgage Services, LLC | $875,000 | $1,525,000 | 74.3% | 0.2% |
| Hilltop National Bank | $1,455,000 | n/a | 0.2% | |
| Discover Bank | $1,650,000 | $1,435,000 | -13.0% | 0.2% |
| Prosperity Home Mortgage, LLC | $330,000 | $1,435,000 | 334.8% | 0.2% |
| First Federal Bank | $860,000 | $1,410,000 | 64.0% | 0.2% |
| DAS Acquisition Company, LLC | $5,895,000 | $1,395,000 | -76.3% | 0.2% |
| PLANET HOME LENDING, LLC | $490,000 | $1,325,000 | 170.4% | 0.2% |
| NBKC BANK | $660,000 | $1,315,000 | 99.2% | 0.2% |
| Citibank | $1,295,000 | n/a | 0.2% | |
| First Dakota National Bank | $1,560,000 | $1,215,000 | -22.1% | 0.1% |
| Bell Bank | $425,000 | $1,205,000 | 183.5% | 0.1% |
| VILLAGE CAPITAL MORTGAGE | $720,000 | $1,205,000 | 67.4% | 0.1% |
| AIR ACADEMY | $1,155,000 | n/a | 0.1% | |
| PNC Bank | $1,070,000 | n/a | 0.1% | |
| HOMESTEAD FUNDING CORP. | $960,000 | n/a | 0.1% | |
| GUARANTEED RATE, INC. | $1,435,000 | $925,000 | -35.5% | 0.1% |
| First National Bank of Omaha | $215,000 | $905,000 | 320.9% | 0.1% |
| CU MORTGAGE DIRECT, LLC | $440,000 | $790,000 | 79.5% | 0.1% |
| CASTLE & COOKE MORTGAGE, LLC | $745,000 | n/a | 0.1% | |
| ZILLOW HOME LOANS, LLC | $205,000 | $745,000 | 263.4% | 0.1% |
| Citizens Bank | $305,000 | $730,000 | 139.3% | 0.1% |
| First Financial Bank | $715,000 | n/a | 0.1% | |
| HOMEBRIDGE FINANCIAL SERVICES, INC. | $410,000 | $685,000 | 67.1% | 0.1% |
| Reliabank Dakota | $670,000 | n/a | 0.1% | |
| Bremer Bank | $630,000 | n/a | 0.1% | |
| Jonah Bank of Wyoming | $625,000 | n/a | 0.1% | |
| AMERISAVE MORTGAGE CORPORATION | $690,000 | $620,000 | -10.1% | 0.1% |
| NEW DAY FINANCIAL, LLC | $580,000 | $590,000 | 1.7% | 0.1% |
| West Gate Bank | $230,000 | $565,000 | 145.7% | 0.1% |
| SUN WEST MORTGAGE COMPANY, INC. | $555,000 | n/a | 0.1% | |
| LENOX FINANCIAL MORTGAGE CORPORATION | $550,000 | n/a | 0.1% | |
| Waterstone Mortgage Corporation | $225,000 | $535,000 | 137.8% | 0.1% |
| Paramount Residential Mortgage Group, Inc. | $305,000 | $525,000 | 72.1% | 0.1% |
| AmeriHome Mortgage Company, LLC | $425,000 | $520,000 | 22.4% | 0.1% |
| American Bank & Trust | $1,175,000 | $510,000 | -56.6% | 0.1% |
| Magnolia Bank | $710,000 | $510,000 | -28.2% | 0.1% |
| 21ST MORTGAGE CORPORATION | $80,000 | $495,000 | 518.8% | 0.1% |
| CHURCHILL MORTGAGE CORPORATION | $490,000 | n/a | 0.1% | |
| Equity Prime Mortgage LLC | $405,000 | $465,000 | 14.8% | 0.1% |
| PENTAGON FEDERAL CREDIT UNION | $1,240,000 | $465,000 | -62.5% | 0.1% |
| ANGEL OAK MORTGAGE SOLUTIONS LLC | $1,330,000 | $455,000 | -65.8% | 0.1% |
| American Mortgage & Equity Consultants, Inc. | $445,000 | n/a | 0.1% | |
| CROSSCOUNTRY MORTGAGE, LLC | $355,000 | $435,000 | 22.5% | 0.1% |
| ALLIANT CREDIT UNION | $420,000 | n/a | 0.1% | |
| SIRVA MORTGAGE, INC. | $415,000 | n/a | 0.0% | |
| American State Bank | $405,000 | n/a | 0.0% | |
| Bank of America | $420,000 | $405,000 | -3.6% | 0.0% |
| Morgan Stanley Private Bank | $1,770,000 | $405,000 | -77.1% | 0.0% |
| PLAZA HOME MORTGAGE, INC. | $405,000 | n/a | 0.0% | |
| GUARANTEED RATE AFFINITY, LLC | $395,000 | n/a | 0.0% | |
| PRIMELENDING, A PLAINSCAPITAL COMPANY | $395,000 | n/a | 0.0% | |
| BETTER MORTGAGE CORPORATION | $385,000 | n/a | 0.0% | |
| Brighton Bank | $375,000 | n/a | 0.0% | |
| CANOPY MORTGAGE, LLC | $365,000 | n/a | 0.0% | |
| GOLDEN PLAINS | $365,000 | n/a | 0.0% | |
| Ixonia Bank | $365,000 | n/a | 0.0% | |
| HOMESIDE FINANCIAL, LLC | $360,000 | n/a | 0.0% | |
| Alerus Financial | $345,000 | n/a | 0.0% | |
| FOUR POINTS | $315,000 | n/a | 0.0% | |
| PREMIA MORTGAGE, LLC | $315,000 | n/a | 0.0% | |
| FARMERS INSURANCE GROUP FEDERAL CREDIT UNION | $310,000 | n/a | 0.0% | |
| Flanagan State Bank | $285,000 | $305,000 | 7.0% | 0.0% |
| VERIDIAN CREDIT UNION | $255,000 | $305,000 | 19.6% | 0.0% |
| CARDINAL FINANCIAL | $870,000 | $295,000 | -66.1% | 0.0% |
| Figure Lending LLC | $685,000 | $295,000 | -56.9% | 0.0% |
| PHH Mortgage Corporation | $185,000 | $295,000 | 59.5% | 0.0% |
| MID AMERICA MORTGAGE, INC. | $285,000 | n/a | 0.0% | |
| CORTRUST MORTGAGE, INC. | $265,000 | n/a | 0.0% | |
| FIRST COMMUNITY MORTGAGE, INC. | $265,000 | n/a | 0.0% | |
| COMPEER FINANCIAL, FLCA | $255,000 | n/a | 0.0% | |
| SERVICE FIRST FEDERAL CREDIT UNION | $505,000 | $255,000 | -49.5% | 0.0% |
| AMERICAN FINANCING CORPORATION | $235,000 | n/a | 0.0% | |
| BNC National Bank | $285,000 | $235,000 | -17.5% | 0.0% |
| Northpointe Bank | $490,000 | $235,000 | -52.0% | 0.0% |
| DOMINION FINANCIAL SERVICES, LLC | $145,000 | $225,000 | 55.2% | 0.0% |
| Stifel Bank and Trust | $225,000 | n/a | 0.0% | |
| Sunflower Bank | $195,000 | n/a | 0.0% | |
| POLARIS HOME FUNDING CORP. | $355,000 | $185,000 | -47.9% | 0.0% |
| Coastal Community Bank | $310,000 | $165,000 | -46.8% | 0.0% |
| OCMBC, INC. | $545,000 | $145,000 | -73.4% | 0.0% |
| FINANCE OF AMERICA REVERSE LLC | $730,000 | $125,000 | -82.9% | 0.0% |
| CREDIT HUMAN FEDERAL CREDIT UNION | $120,000 | n/a | 0.0% | |
| TRIAD FINANCIAL SERVICES, INC. | $855,000 | $95,000 | -88.9% | 0.0% |
| Home Mortgage Alliance Corp | $75,000 | n/a | 0.0% | |
| Pinnacle Bank - Wyoming | $125,000 | $55,000 | -56.0% | 0.0% |
| RESIDENTIAL BANCORP | $55,000 | n/a | 0.0% |
RAPID CITY's top lender by overall market share is CMG MORTGAGE, INC., with 14.9% market share. In second place, with 11.8%, is BLACK HILLS FEDERAL CREDIT UNION, having originated $98,425,000 in loans. In third place, with 6.9%, is UNITED WHOLESALE MORTGAGE, LLC, having originated $57,775,000 in loans. In fourth place, with 6.6%, is Plains Commerce Bank, having originated $55,495,000 in loans. In fifth place, with 6.2%, is BANKWEST, INC., having originated $51,570,000 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 |
| 2025-03-01 | $429,900 (4.9%) | $607,841 (2.0%) | 1.01 | 414 |
| 2025-04-01 | $437,475 (3.6%) | $598,936 (-1.6%) | 1.01 | 439 |
RAPID CITY's median listing price comes in at 101% of the national average.
RAPID CITY's average listing price for 2025-04-01 was $598,936, a difference of $-9,621 (-1.6%) versus the prior year and $-8,905 versus the prior month.
For the 2025-04-01 period, RAPID CITY had 439 MLS listings, a difference of 25 listings (6%) versus the prior month and 75 listings (21%) 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 |
| 2025-03-01 | 51 days | 1,912 sqft |
| 2025-04-01 | 41 days | 1,982 sqft |
RAPID CITY's median square footage for active listings during the 2025-04-01 period was 1,982 sqft. One year prior, the average listing was 1,876 sqft.
RAPID CITY, SD Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 1,735 | $595,565,000 | $343,265 |
| Cash Out Refi | 331 | $79,625,000 | $240,559 |
| Refi | 330 | $108,980,000 | $330,242 |
| Home Improvement | 275 | $26,185,000 | $95,218 |
| Other | 237 | $24,445,000 | $103,143 |
Rapid City's most frequently cited loan purpose was Home Purchase, with 1,735 originations. The 2nd most popular reason was Cash Out Refi, with 331 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 1,025 | $350,155,000 | $341,615 |
| Over 8% | 546 | $58,900,000 | $107,875 |
| 7-8% | 521 | $173,015,000 | $332,083 |
| 5-6% | 509 | $167,915,000 | $329,892 |
| 4-5% | 33 | $10,445,000 | $316,515 |
| <2.5% | 31 | $1,225,000 | $39,516 |
| 2.5-3% | 10 | $1,350,000 | $135,000 |
| 3-4% | 2 | $530,000 | $265,000 |
During 2024, Rapid City's most frequently originated rate bucket was 6-7%, with 1,025 originations.
Loan Sizing (RAPID CITY, SD MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $200k-400k | 1,366 | $401,520,000 | $293,939 |
| $100,000 or less | 598 | $31,120,000 | $52,040 |
| $100k-200k | 469 | $69,075,000 | $147,281 |
| $400k-600k | 345 | $162,185,000 | $470,101 |
| $600k-1000k | 101 | $71,005,000 | $703,020 |
| $Over $1MM | 29 | $99,895,000 | $3,444,655 |
RAPID CITY's loan sizing saw the bucket of loans from $200k-400k with 1,366 originations, totaling $401,520,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 1,079 | $369,705,000 | $342,637 |
| 60-80% | 447 | $180,315,000 | $403,389 |
| Under 20% | 434 | $35,340,000 | $81,429 |
| 20-40% | 315 | $46,265,000 | $146,873 |
| 40-60% | 235 | $69,185,000 | $294,404 |
| Over 100% | 130 | $49,500,000 | $380,769 |
RAPID CITY's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 1,079 originations, totaling $369,705,000 in origination value.