RAPID CITY Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Rapid City averaged
6.42%
for the week of 2023-03-16, compared to the national average of
6.6% for the same period.
The average rate for the prior week (2023-03-09) was
6.75% and
one month ago for the week of 2023-02-09, the
average rate was 6.04%.
Rapid City's average rate one year ago was 3.87%.
For refis of the same type during the week of 2023-03-16, the average rate
was 6.43%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2023-03-16 | 6.6% |
| Rapid City 30 Year Fixed Rate | 2023-03-16 | 6.42% |
| Rapid City 30 Year Fixed Rate Refi | 2023-03-16 | 6.43% |
| Rapid City 15 Year Fixed Rate | 2023-03-16 | 6.3% |
| Rapid City 15 Year Fixed Rate Refi | 2023-03-16 | 5.8% |
| Rapid City 30 Year FHA | 2023-03-16 | 6.15% |
| Rapid City 30 Year FHA Refi | 2023-03-16 | 6.26% |
| Rapid City 30 Year USDA | 2023-03-16 | 6% |
| Rapid City 30 Year USDA Refi | 2023-03-16 | 5.98% |
| Rapid City 30 Year VA | 2023-03-16 | 6.36% |
| Rapid City 30 Year VA Refi | 2023-03-16 | 6.21% |
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 127 lenders originated 6,360
loans during 2021. The total origination value was $1,593,370,000, with an average loan value of
$250,530.
RAPID CITY's average closing costs are $5,005.
The top RAPID CITY lender as defined by loan originations is BLACK HILLS FEDERAL CREDIT UNION, with
424 loans originated. Their average total fees are
$5,307, which is $1,224
higher than the next largest lender,
CMG MORTGAGE, INC..
The lowest fee RAPID CITY lenders (with over 10 loans originated) are
CU MORTGAGE DIRECT, LLC ($1,017), FREEDOM MORTGAGE CORPORATION ($2,320), Security First Bank ($2,389), JPMorgan Chase Bank ($2,605) and U.S. Bank ($3,022).
The lowest rate RAPID CITY lenders (with over 10 loans originated) are
CU MORTGAGE DIRECT, LLC (2.83%), First National Bank (2.84%), Servion, Inc. (2.84%), AMERISAVE MORTGAGE CORPORATION (2.87%) and BANKWEST, INC. (2.88%).
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 | 2020 Loan Value | 2021 Loan Value | % Change | 2021 Market Share |
|---|---|---|---|---|
| CMG MORTGAGE, INC. | $188,020,000 | $172,660,000 | -8.2% | 10.8% |
| BLACK HILLS FEDERAL CREDIT UNION | $218,380,000 | $160,035,000 | -26.7% | 10.0% |
| Gateway First Bank | $133,400,000 | $98,535,000 | -26.1% | 6.2% |
| UNITED WHOLESALE MORTGAGE, LLC | $36,515,000 | $79,605,000 | 118.0% | 5.0% |
| Unify Home Lending Inc. | $59,595,000 | $74,995,000 | 25.8% | 4.7% |
| QUICKEN LOANS, LLC | $57,240,000 | $71,535,000 | 25.0% | 4.5% |
| Lend Smart Mortgage, LLC | $116,770,000 | $64,430,000 | -44.8% | 4.0% |
| HOMESTAR FINANCIAL CORPORATION | $2,855,000 | $52,205,000 | 1,728.5% | 3.3% |
| Wells Fargo Bank | $35,130,000 | $46,250,000 | 31.7% | 2.9% |
| Black Hills Community Bank | $50,665,000 | $45,000,000 | -11.2% | 2.8% |
| U.S. Bank | $48,670,000 | $42,135,000 | -13.4% | 2.6% |
| First Interstate Bank | $76,910,000 | $37,815,000 | -50.8% | 2.4% |
| Plains Commerce Bank | $7,845,000 | $34,070,000 | 334.3% | 2.1% |
| PENNYMAC LOAN SERVICES, LLC | $10,110,000 | $32,470,000 | 221.2% | 2.0% |
| BANKWEST, INC. | $43,745,000 | $31,605,000 | -27.8% | 2.0% |
| Pioneer Bank & Trust | $35,405,000 | $31,045,000 | -12.3% | 1.9% |
| FREEDOM MORTGAGE CORPORATION | $39,645,000 | $30,955,000 | -21.9% | 1.9% |
| Dacotah Bank | $32,035,000 | $27,640,000 | -13.7% | 1.7% |
| OPEN MORTGAGE, LLC | $80,930,000 | $27,495,000 | -66.0% | 1.7% |
| Mortgage Research Center, LLC | $25,575,000 | $25,755,000 | 0.7% | 1.6% |
| KeyBank | $945,000 | $24,755,000 | 2,519.6% | 1.6% |
| HIGHMARK | $25,665,000 | $23,880,000 | -7.0% | 1.5% |
| First National Bank | $57,975,000 | $21,875,000 | -62.3% | 1.4% |
| Security First Bank | $19,860,000 | $20,485,000 | 3.1% | 1.3% |
| Merchants Bank of Indiana | $20,430,000 | n/a | 1.3% | |
| DAS Acquisition Company, LLC | $11,430,000 | $15,740,000 | 37.7% | 1.0% |
| LOANDEPOT.COM, LLC | $5,510,000 | $14,165,000 | 157.1% | 0.9% |
| Mr. Cooper ( Nationstar Mortgage ) | $10,815,000 | $13,690,000 | 26.6% | 0.9% |
| NEWREZ LLC | $8,850,000 | $12,025,000 | 35.9% | 0.8% |
| Washington Federal Bank | $9,915,000 | n/a | 0.6% | |
| AMERISAVE MORTGAGE CORPORATION | $5,395,000 | $9,375,000 | 73.8% | 0.6% |
| LAKEVIEW LOAN SERVICING, LLC | $7,400,000 | $9,185,000 | 24.1% | 0.6% |
| Bank of America | $405,000 | $8,495,000 | 1,997.5% | 0.5% |
| CALIBER HOME LOANS, INC. | $7,335,000 | $8,470,000 | 15.5% | 0.5% |
| USAA Federal Savings Bank | $8,690,000 | $8,050,000 | -7.4% | 0.5% |
| Flagstar Bank, FSB | $4,770,000 | $7,720,000 | 61.8% | 0.5% |
| NAVY FEDERAL CREDIT UNION | $3,715,000 | $7,390,000 | 98.9% | 0.5% |
| CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP | $4,510,000 | $7,335,000 | 62.6% | 0.5% |
| Great Western Bank | $3,270,000 | $7,055,000 | 115.7% | 0.4% |
| HOME POINT FINANCIAL CORPORATION | $3,505,000 | $6,320,000 | 80.3% | 0.4% |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $3,075,000 | $5,885,000 | 91.4% | 0.4% |
| NEW DAY FINANCIAL, LLC | $6,610,000 | $5,840,000 | -11.6% | 0.4% |
| CU MORTGAGE DIRECT, LLC | $7,890,000 | $5,205,000 | -34.0% | 0.3% |
| Servion, Inc. | $5,915,000 | $4,850,000 | -18.0% | 0.3% |
| JPMorgan Chase Bank | $4,585,000 | $4,825,000 | 5.2% | 0.3% |
| BETTER MORTGAGE CORPORATION | $3,690,000 | $4,375,000 | 18.6% | 0.3% |
| The Federal Savings Bank | $2,960,000 | $3,995,000 | 35.0% | 0.3% |
| Farm Credit Mid-America, ACA | $8,770,000 | $3,565,000 | -59.4% | 0.2% |
| The Greenwood's State Bank | $3,405,000 | n/a | 0.2% | |
| Stockman Bank of Montana | $325,000 | $3,305,000 | 916.9% | 0.2% |
| Ally Bank | $155,000 | $2,980,000 | 1,822.6% | 0.2% |
| First PREMIER Bank | $2,945,000 | $2,525,000 | -14.3% | 0.2% |
| Carrington Mortgage Services, LLC | $3,360,000 | $2,450,000 | -27.1% | 0.2% |
| BROKER SOLUTIONS, INC. | $725,000 | $2,405,000 | 231.7% | 0.2% |
| BAY EQUITY LLC | $385,000 | $2,375,000 | 516.9% | 0.1% |
| VILLAGE CAPITAL & INVESTMENT LLC | $2,375,000 | $2,325,000 | -2.1% | 0.1% |
| Heritage Bank | $215,000 | $2,240,000 | 941.9% | 0.1% |
| CHURCHILL MORTGAGE CORPORATION | $1,060,000 | $2,105,000 | 98.6% | 0.1% |
| First Federal Bank | $4,615,000 | $2,065,000 | -55.3% | 0.1% |
| PLANET HOME LENDING, LLC | $1,000,000 | $2,050,000 | 105.0% | 0.1% |
| BankFirst | $2,035,000 | n/a | 0.1% | |
| ARK-LA-TEX FINANCIAL SERVICES, LLC. | $2,020,000 | n/a | 0.1% | |
| Arbor Realty Trust, Inc. | $1,805,000 | n/a | 0.1% | |
| Northpointe Bank | $135,000 | $1,795,000 | 1,229.6% | 0.1% |
| CORTRUST MORTGAGE, INC. | $2,565,000 | $1,780,000 | -30.6% | 0.1% |
| STEARNS LENDING, LLC | $760,000 | $1,760,000 | 131.6% | 0.1% |
| CROSSCOUNTRY MORTGAGE, LLC | $2,450,000 | $1,745,000 | -28.8% | 0.1% |
| The Huntington National Bank | $1,700,000 | n/a | 0.1% | |
| GUARANTEED RATE, INC. | $860,000 | $1,655,000 | 92.4% | 0.1% |
| NBKC BANK | $770,000 | $1,575,000 | 104.5% | 0.1% |
| American Bank & Trust | $3,800,000 | $1,545,000 | -59.3% | 0.1% |
| MUTUAL OF OMAHA MORTGAGE, INC. | $2,730,000 | $1,525,000 | -44.1% | 0.1% |
| Barrington Bank & Trust Company, N.A. | $1,375,000 | $1,420,000 | 3.3% | 0.1% |
| TCF National Bank | $1,810,000 | $1,410,000 | -22.1% | 0.1% |
| PENTAGON FEDERAL CREDIT UNION | $490,000 | $1,360,000 | 177.6% | 0.1% |
| First Guaranty Mortgage Corporation | $3,210,000 | $1,350,000 | -57.9% | 0.1% |
| First Dakota National Bank | $1,215,000 | $1,335,000 | 9.9% | 0.1% |
| Nations Lending Corporation | $390,000 | $1,320,000 | 238.5% | 0.1% |
| First International Bank & Trust | $385,000 | $1,305,000 | 239.0% | 0.1% |
| BELLWETHER ENTERPRISE REAL ESTATE CAPITAL, LLC | $2,505,000 | $1,295,000 | -48.3% | 0.1% |
| Pinnacle Bank - Wyoming | $1,240,000 | n/a | 0.1% | |
| AMERICAN FINANCING CORPORATION | $460,000 | $1,200,000 | 160.9% | 0.1% |
| BNY Mellon | $1,195,000 | n/a | 0.1% | |
| GUILD MORTGAGE COMPANY | $265,000 | $1,155,000 | 335.8% | 0.1% |
| SOUTHWEST STAGE FUNDING, LLC | $340,000 | $1,155,000 | 239.7% | 0.1% |
| PNC Bank | $1,160,000 | $1,125,000 | -3.0% | 0.1% |
| SUN WEST MORTGAGE COMPANY, INC. | $980,000 | $1,095,000 | 11.7% | 0.1% |
| AMERICAN PACIFIC MORTGAGE CORPORATION | $1,090,000 | n/a | 0.1% | |
| HOMEBRIDGE FINANCIAL SERVICES, INC. | $1,070,000 | $1,080,000 | 0.9% | 0.1% |
| MOVEMENT MORTGAGE, LLC | $995,000 | n/a | 0.1% | |
| Citizens Bank | $2,240,000 | $980,000 | -56.3% | 0.1% |
| Bremer Bank | $970,000 | n/a | 0.1% | |
| Sunflower Bank | $940,000 | n/a | 0.1% | |
| Reliabank Dakota | $930,000 | n/a | 0.1% | |
| Midland States Bank | $895,000 | n/a | 0.1% | |
| S1L, Inc. | $895,000 | n/a | 0.1% | |
| Morgan Stanley Private Bank | $225,000 | $870,000 | 286.7% | 0.1% |
| First Home Bank | $860,000 | n/a | 0.1% | |
| MID AMERICA MORTGAGE, INC. | $1,425,000 | $785,000 | -44.9% | 0.0% |
| 21ST MORTGAGE CORPORATION | $285,000 | $780,000 | 173.7% | 0.0% |
| Platte Valley Bank | $770,000 | n/a | 0.0% | |
| Flanagan State Bank | $500,000 | $755,000 | 51.0% | 0.0% |
| Low VA Rates, LLC | $995,000 | $750,000 | -24.6% | 0.0% |
| FirstBank | $365,000 | $730,000 | 100.0% | 0.0% |
| Bank of England | $240,000 | $705,000 | 193.8% | 0.0% |
| ACADEMY MORTGAGE CORPORATION | $640,000 | n/a | 0.0% | |
| Truist Bank | $560,000 | $640,000 | 14.3% | 0.0% |
| First National Bank of Omaha | $7,140,000 | $610,000 | -91.5% | 0.0% |
| Paramount Residential Mortgage Group, Inc. | $550,000 | n/a | 0.0% | |
| Discover Bank | $410,000 | $535,000 | 30.5% | 0.0% |
| DRAPER AND KRAMER MORTGAGE CORP. | $275,000 | $525,000 | 90.9% | 0.0% |
| AMERICAN FINANCIAL NETWORK, INC. | $615,000 | $515,000 | -16.3% | 0.0% |
| Lakeview Community Capital, LLC | $195,000 | $515,000 | 164.1% | 0.0% |
| Wyndham Capital Mortgage, Inc. | $510,000 | n/a | 0.0% | |
| PRIMELENDING, A PLAINSCAPITAL COMPANY | $420,000 | $490,000 | 16.7% | 0.0% |
| Bell Bank | $475,000 | $480,000 | 1.1% | 0.0% |
| Pinnacle Bank | $475,000 | n/a | 0.0% | |
| UNIVERSAL LENDING CORPORATION | $470,000 | n/a | 0.0% | |
| Cf Bank | $465,000 | n/a | 0.0% | |
| Gate City Bank | $645,000 | $435,000 | -32.6% | 0.0% |
| CRESCENT MORTGAGE COMPANY | $425,000 | n/a | 0.0% | |
| The Central Trust Bank | $415,000 | n/a | 0.0% | |
| TOWN AND COUNTRY Credit Union | $425,000 | $395,000 | -7.1% | 0.0% |
| AMERICAN INTERNET MORTGAGE, INC. | $185,000 | $370,000 | 100.0% | 0.0% |
| EVERETT FINANCIAL, INC. | $370,000 | n/a | 0.0% | |
| First Bank | $225,000 | $370,000 | 64.4% | 0.0% |
| THRIVENT Federal Credit Union | $370,000 | n/a | 0.0% | |
| Access Bank | $355,000 | n/a | 0.0% | |
| Alerus Financial | $355,000 | n/a | 0.0% | |
| Amerifirst Financial, Inc. | $355,000 | n/a | 0.0% | |
| Bank of the West | $350,000 | n/a | 0.0% | |
| American Bank Center | $345,000 | n/a | 0.0% | |
| InterContinental Capital Group, Inc | $345,000 | n/a | 0.0% | |
| ZILLOW HOME LOANS, LLC | $345,000 | n/a | 0.0% | |
| AMERICAN ADVISORS GROUP | $490,000 | $340,000 | -30.6% | 0.0% |
| FOUR POINTS | $185,000 | $340,000 | 83.8% | 0.0% |
| PHH Mortgage Corporation | $425,000 | $330,000 | -22.4% | 0.0% |
| Armed Forces Bank | $325,000 | n/a | 0.0% | |
| Community First National Bank | $325,000 | n/a | 0.0% | |
| COMPEER FINANCIAL, FLCA | $325,000 | n/a | 0.0% | |
| UNITED SECURITY FINANCIAL CORP | $195,000 | $325,000 | 66.7% | 0.0% |
| FINANCE OF AMERICA REVERSE LLC | $25,000 | $320,000 | 1,180.0% | 0.0% |
| Baxter Credit Union | $315,000 | n/a | 0.0% | |
| NBH Bank | $225,000 | $315,000 | 40.0% | 0.0% |
| The Security National Bank of Sioux City, Iowa | $315,000 | n/a | 0.0% | |
| Points West Community Bank | $305,000 | n/a | 0.0% | |
| Southern Bank | $305,000 | n/a | 0.0% | |
| Century Mortgage Company DBA Century Lending Company | $295,000 | n/a | 0.0% | |
| AMCAP MORTGAGE, LTD. | $185,000 | $290,000 | 56.8% | 0.0% |
| CIBC Bank USA | $285,000 | n/a | 0.0% | |
| Stifel Bank and Trust | $630,000 | $285,000 | -54.8% | 0.0% |
| BOKF | $335,000 | $275,000 | -17.9% | 0.0% |
| HOMESTEAD FUNDING CORP. | $275,000 | n/a | 0.0% | |
| Merchants Bank | $270,000 | n/a | 0.0% | |
| Service Federal Credit Union | $225,000 | $255,000 | 13.3% | 0.0% |
| First Bank & Trust | $585,000 | $250,000 | -57.3% | 0.0% |
| Home State Bank | $245,000 | n/a | 0.0% | |
| KELLER MORTGAGE, LLC | $1,060,000 | $245,000 | -76.9% | 0.0% |
| Magnolia Bank | $870,000 | $245,000 | -71.8% | 0.0% |
| The First National Bank in Sioux Falls | $235,000 | n/a | 0.0% | |
| American Bank of Oklahoma | $225,000 | n/a | 0.0% | |
| Cambria Financial Group, LLC | $225,000 | n/a | 0.0% | |
| SOFI LENDING CORP. | $225,000 | n/a | 0.0% | |
| EMBRACE HOME LOANS, INC. | $215,000 | n/a | 0.0% | |
| Arbor Bank | $205,000 | n/a | 0.0% | |
| Chicago Mortgage Solutions LLC | $205,000 | n/a | 0.0% | |
| Frontier Bank | $205,000 | n/a | 0.0% | |
| Jonah Bank of Wyoming | $355,000 | $205,000 | -42.3% | 0.0% |
| Peoples Bank | $205,000 | n/a | 0.0% | |
| TIAA, FSB | $475,000 | $205,000 | -56.8% | 0.0% |
| ANGEL OAK MORTGAGE SOLUTIONS LLC | $195,000 | n/a | 0.0% | |
| First Internet Bank of Indiana | $195,000 | n/a | 0.0% | |
| IMPAC MORTGAGE CORP. | $175,000 | n/a | 0.0% | |
| Lincoln Savings Bank | $175,000 | n/a | 0.0% | |
| FIRST STATE MORTGAGE SERVICES, LLC | $165,000 | n/a | 0.0% | |
| Adams Bank & Trust | $155,000 | n/a | 0.0% | |
| Citibank | $155,000 | n/a | 0.0% | |
| OCEANSIDE MORTGAGE COMPANY | $310,000 | $155,000 | -50.0% | 0.0% |
| POLARIS HOME FUNDING CORP. | $155,000 | n/a | 0.0% | |
| SUMMIT FUNDING, INC. | $155,000 | n/a | 0.0% | |
| Waterstone Mortgage Corporation | $155,000 | n/a | 0.0% | |
| Willamette Valley Bank | $155,000 | n/a | 0.0% | |
| Colonial Savings, F.A. | $620,000 | $145,000 | -76.6% | 0.0% |
| Cornerstone Bank | $175,000 | $145,000 | -17.1% | 0.0% |
| Manufacturers and Traders Trust Company | $145,000 | n/a | 0.0% | |
| PRIMARY RESIDENTIAL MORTGAGE, INC. | $445,000 | $145,000 | -67.4% | 0.0% |
| IOWA BANKERS MORTGAGE CORPORATION | $125,000 | n/a | 0.0% | |
| LENDERFI, INC. | $245,000 | $125,000 | -49.0% | 0.0% |
| MORTGAGE SOLUTIONS OF COLORADO, LLC | $815,000 | $115,000 | -85.9% | 0.0% |
| Figure Lending LLC | $110,000 | n/a | 0.0% | |
| TBK BANK, SSB | $105,000 | n/a | 0.0% | |
| QUORUM FEDERAL CREDIT UNION | $95,000 | n/a | 0.0% | |
| PURDUE FEDERAL CREDIT UNION | $85,000 | n/a | 0.0% | |
| American Airlines Federal Credit Union | $75,000 | n/a | 0.0% | |
| First Western Trust Bank | $75,000 | n/a | 0.0% | |
| TRIAD FINANCIAL SERVICES, INC. | $95,000 | $75,000 | -21.1% | 0.0% |
RAPID CITY's top lender by overall market share is CMG MORTGAGE, INC., with 10.8% market share. In second place, with 10.0%, is BLACK HILLS FEDERAL CREDIT UNION, having originated $160,035,000 in loans. In third place, with 6.2%, is Gateway First Bank, having originated $98,535,000 in loans. In fourth place, with 5.0%, is UNITED WHOLESALE MORTGAGE, LLC, having originated $79,605,000 in loans. In fifth place, with 4.7%, is Unify Home Lending Inc., having originated $74,995,000 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 (1.7%) | 0.91 | 723 |
| 2018-05-01 | $265,925 (6.4%) | $327,684 (2.6%) | 0.89 | 803 |
| 2018-06-01 | $273,000 (10.0%) | $336,305 (6.7%) | 0.91 | 789 |
| 2018-07-01 | $269,000 (8.8%) | $332,370 (6.6%) | 0.90 | 791 |
| 2018-08-01 | $269,225 (10.2%) | $336,052 (8.0%) | 0.90 | 776 |
| 2018-09-01 | $263,900 (9.1%) | $328,789 (6.9%) | 0.89 | 799 |
| 2018-10-01 | $264,925 (11.1%) | $329,996 (7.1%) | 0.90 | 746 |
| 2018-11-01 | $269,900 (12.5%) | $328,662 (6.3%) | 0.91 | 687 |
| 2018-12-01 | $269,900 (12.5%) | $324,033 (7.4%) | 0.93 | 597 |
| 2019-01-01 | $268,500 (10.8%) | $321,915 (4.5%) | 0.93 | 562 |
| 2019-02-01 | $268,975 (8.9%) | $319,965 (1.5%) | 0.91 | 595 |
| 2019-03-01 | $269,386 (5.6%) | $323,884 (1.8%) | 0.88 | 625 |
| 2019-04-01 | $268,011 (0.3%) | $325,694 (-0.2%) | 0.85 | 660 |
| 2019-05-01 | $259,900 (-2.3%) | $321,568 (-1.9%) | 0.81 | 735 |
| 2019-06-01 | $259,900 (-4.8%) | $321,283 (-4.5%) | 0.81 | 783 |
| 2019-07-01 | $259,900 (-3.4%) | $330,170 (-0.7%) | 0.81 | 778 |
| 2019-08-01 | $258,291 (-4.1%) | $328,679 (-2.2%) | 0.82 | 753 |
| 2019-09-01 | $255,877 (-3.0%) | $325,453 (-1.0%) | 0.82 | 716 |
| 2019-10-01 | $254,718 (-3.9%) | $323,592 (-1.9%) | 0.82 | 686 |
| 2019-11-01 | $259,900 (-3.7%) | $325,097 (-1.1%) | 0.85 | 659 |
| 2019-12-01 | $259,900 (-3.7%) | $326,004 (0.6%) | 0.87 | 568 |
| 2020-01-01 | $279,900 (4.3%) | $384,214 (19.4%) | 0.93 | 332 |
| 2020-02-01 | $289,000 (7.4%) | $402,467 (25.8%) | 0.94 | 329 |
| 2020-03-01 | $307,450 (14.1%) | $437,469 (35.1%) | 0.96 | 310 |
| 2020-04-01 | $300,700 (12.2%) | $429,681 (31.9%) | 0.94 | 356 |
| 2020-05-01 | $299,900 (15.4%) | $426,399 (32.6%) | 0.91 | 356 |
| 2020-06-01 | $312,000 (20.1%) | $443,091 (37.9%) | 0.92 | 326 |
| 2020-07-01 | $319,950 (23.1%) | $458,647 (38.9%) | 0.93 | 263 |
| 2020-08-01 | $297,450 (15.2%) | $464,886 (41.4%) | 0.85 | 235 |
| 2020-09-01 | $283,700 (10.9%) | $466,160 (43.2%) | 0.81 | 192 |
| 2020-10-01 | $281,000 (10.3%) | $469,688 (45.2%) | 0.81 | 172 |
| 2020-11-01 | $284,900 (9.6%) | $467,260 (43.7%) | 0.83 | 147 |
| 2020-12-01 | $268,225 (3.2%) | $456,281 (40.0%) | 0.80 | 130 |
| 2021-01-01 | $246,900 (-11.8%) | $383,298 (-0.2%) | 0.74 | 117 |
| 2021-02-01 | $246,800 (-14.6%) | $412,638 (2.5%) | 0.72 | 86 |
| 2021-03-01 | $335,550 (9.1%) | $468,206 (7.0%) | 0.95 | 85 |
| 2021-04-01 | $347,450 (15.6%) | $455,321 (6.0%) | 0.94 | 91 |
| 2021-05-01 | $333,750 (11.3%) | $460,550 (8.0%) | 0.88 | 92 |
| 2021-06-01 | $344,900 (10.5%) | $474,087 (7.0%) | 0.91 | 124 |
| 2021-07-01 | $342,400 (7.0%) | $449,729 (-1.9%) | 0.90 | 143 |
| 2021-08-01 | $335,575 (12.8%) | $438,681 (-5.6%) | 0.89 | 163 |
| 2021-09-01 | $352,400 (24.2%) | $478,364 (2.6%) | 0.94 | 174 |
| 2021-10-01 | $347,900 (23.8%) | $490,237 (4.4%) | 0.93 | 158 |
| 2021-11-01 | $354,900 (24.6%) | $513,485 (9.9%) | 0.95 | 144 |
| 2021-12-01 | $354,900 (32.3%) | $546,212 (19.7%) | 0.96 | 120 |
| 2022-01-01 | $359,900 (45.8%) | $576,110 (50.3%) | 0.97 | 107 |
| 2022-02-01 | $359,900 (45.8%) | $585,905 (42.0%) | 0.94 | 116 |
| 2022-03-01 | $374,950 (11.7%) | $674,909 (44.2%) | 0.94 | 127 |
| 2022-04-01 | $380,000 (9.4%) | $606,180 (33.1%) | 0.91 | 155 |
| 2022-05-01 | $389,900 (16.8%) | $597,625 (29.8%) | 0.89 | 120 |
| 2022-06-01 | $388,675 (12.7%) | $549,557 (15.9%) | 0.87 | 192 |
| 2022-07-01 | $399,950 (16.8%) | $552,640 (22.9%) | 0.90 | 216 |
| 2022-08-01 | $405,975 (21.0%) | $543,221 (23.8%) | 0.93 | 251 |
| 2022-09-01 | $401,150 (13.8%) | $528,169 (10.4%) | 0.94 | 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 | 248 |
| 2023-01-01 | $394,950 (9.7%) | $506,423 (-12.1%) | 0.97 | 226 |
| 2023-02-01 | $388,499 (8.0%) | $507,711 (-13.4%) | 0.94 | 206 |
RAPID CITY's median listing price comes in at 94% of the national average.
RAPID CITY's average listing price for 2023-02-01 was $507,711, a difference of $-78,194 (-13.4%) versus the prior year and $1,288 versus the prior month.
For the 2023-02-01 period, RAPID CITY had 206 MLS listings, a difference of -20 listings (-9%) versus the prior month and 90 listings (78%) 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 | 69 days | 2,205 sqft |
| 2018-02-01 | 66 days | 2,214 sqft |
| 2018-03-01 | 54 days | 2,254 sqft |
| 2018-04-01 | 51 days | 2,297 sqft |
| 2018-05-01 | 49 days | 2,262 sqft |
| 2018-06-01 | 46 days | 2,304 sqft |
| 2018-07-01 | 48 days | 2,270 sqft |
| 2018-08-01 | 52 days | 2,269 sqft |
| 2018-09-01 | 50 days | 2,239 sqft |
| 2018-10-01 | 55 days | 2,258 sqft |
| 2018-11-01 | 64 days | 2,257 sqft |
| 2018-12-01 | 72 days | 2,245 sqft |
| 2019-01-01 | 70 days | 2,202 sqft |
| 2019-02-01 | 58 days | 2,206 sqft |
| 2019-03-01 | 49 days | 2,223 sqft |
| 2019-04-01 | 47 days | 2,210 sqft |
| 2019-05-01 | 44 days | 2,143 sqft |
| 2019-06-01 | 46 days | 2,132 sqft |
| 2019-07-01 | 44 days | 2,150 sqft |
| 2019-08-01 | 46 days | 2,160 sqft |
| 2019-09-01 | 48 days | 2,172 sqft |
| 2019-10-01 | 50 days | 2,186 sqft |
| 2019-11-01 | 54 days | 2,184 sqft |
| 2019-12-01 | 66 days | 2,173 sqft |
| 2020-01-01 | 72 days | 2,303 sqft |
| 2020-02-01 | 55 days | 2,360 sqft |
| 2020-03-01 | 51 days | 2,318 sqft |
| 2020-04-01 | 46 days | 2,311 sqft |
| 2020-05-01 | 47 days | 2,246 sqft |
| 2020-06-01 | 48 days | 2,298 sqft |
| 2020-07-01 | 53 days | 2,334 sqft |
| 2020-08-01 | 47 days | 2,276 sqft |
| 2020-09-01 | 46 days | 2,212 sqft |
| 2020-10-01 | 39 days | 2,122 sqft |
| 2020-11-01 | 42 days | 1,997 sqft |
| 2020-12-01 | 39 days | 1,920 sqft |
| 2021-01-01 | 56 days | 1,824 sqft |
| 2021-02-01 | 49 days | 1,805 sqft |
| 2021-03-01 | 22 days | 2,028 sqft |
| 2021-04-01 | 14 days | 2,063 sqft |
| 2021-05-01 | 8 days | 2,080 sqft |
| 2021-06-01 | 12 days | 2,093 sqft |
| 2021-07-01 | 17 days | 1,830 sqft |
| 2021-08-01 | 24 days | 1,688 sqft |
| 2021-09-01 | 26 days | 1,829 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 | 33 days | 1,880 sqft |
| 2022-03-01 | 39 days | 1,921 sqft |
| 2022-04-01 | 30 days | 1,920 sqft |
| 2022-05-01 | 22 days | 1,926 sqft |
| 2022-06-01 | 24 days | 1,925 sqft |
| 2022-07-01 | 31 days | 2,000 sqft |
| 2022-08-01 | 36 days | 2,070 sqft |
| 2022-09-01 | 33 days | 2,008 sqft |
| 2022-10-01 | 34 days | 1,968 sqft |
| 2022-11-01 | 60 days | 1,969 sqft |
| 2022-12-01 | 64 days | 1,978 sqft |
| 2023-01-01 | 62 days | 1,969 sqft |
| 2023-02-01 | 51 days | 1,940 sqft |
RAPID CITY's median square footage for active listings during the 2023-02-01 period was 1,940 sqft. One year prior, the average listing was 1,880 sqft.
RAPID CITY, SD Average Rent (2022)
Zoom/scroll map to see average rent by zip code. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results.
| Zip Code | Metro | Studio Apartment Rent | 1BR Apartment Rent | 2BR Apartment Rent | 3BR Apartment Rent | 4BR Apartment Rent |
|---|---|---|---|---|---|---|
| 57553 | Rapid City, SD | $610 | $700 | $920 | $1,300 | $1,460 |
| 57701 | Rapid City, SD | $580 | $660 | $870 | $1,230 | $1,390 |
| 57702 | Rapid City, SD | $670 | $770 | $1,010 | $1,430 | $1,610 |
| 57703 | Rapid City, SD | $720 | $820 | $1,080 | $1,530 | $1,720 |
| 57706 | Rapid City, SD | $690 | $790 | $1,040 | $1,410 | $1,760 |
| 57709 | Rapid City, SD | $610 | $700 | $920 | $1,300 | $1,460 |
| 57718 | Rapid City, SD | $690 | $790 | $1,040 | $1,410 | $1,780 |
| 57719 | Rapid City, SD | $670 | $770 | $1,010 | $1,430 | $1,630 |
| 57725 | Rapid City, SD | $710 | $810 | $1,060 | $1,510 | $1,700 |
| 57730 | Rapid City, SD | $620 | $710 | $930 | $1,310 | $1,480 |
| 57732 | Rapid City, SD | $610 | $700 | $920 | $1,300 | $1,460 |
| 57744 | Rapid City, SD | $720 | $830 | $1,090 | $1,470 | $1,660 |
| 57745 | Rapid City, SD | $630 | $720 | $940 | $1,330 | $1,500 |
| 57750 | Rapid City, SD | $610 | $700 | $920 | $1,300 | $1,460 |
| 57751 | Rapid City, SD | $520 | $600 | $790 | $1,120 | $1,300 |
| 57754 | Rapid City, SD | $610 | $700 | $920 | $1,300 | $1,460 |
| 57761 | Rapid City, SD | $610 | $700 | $920 | $1,290 | $1,490 |
| 57767 | Rapid City, SD | $610 | $700 | $920 | $1,280 | $1,500 |
| 57775 | Rapid City, SD | $520 | $600 | $790 | $1,120 | $1,300 |
| 57780 | Rapid City, SD | $610 | $700 | $920 | $1,300 | $1,460 |
| 57790 | Rapid City, SD | $520 | $600 | $790 | $1,120 | $1,300 |
| 57791 | Rapid City, SD | $610 | $700 | $920 | $1,270 | $1,520 |
| 82701 | Rapid City, SD | $610 | $700 | $920 | $1,300 | $1,460 |
2022 Average & Median Rent Data Statistics
RAPID CITY, SD average 1BR rent: $716, median: $700
RAPID CITY, SD average 2BR rent: $941, median: $920
RAPID CITY, SD average 3BR rent: $1,320, median: $1,300
RAPID CITY, SD Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 2,584 | $759,490,000 | $293,920 |
| Refi | 2,173 | $478,955,000 | $220,412 |
| Cash Out Refi | 1,278 | $297,040,000 | $232,426 |
| Home Improvement | 245 | $43,745,000 | $178,551 |
| Other | 80 | $14,140,000 | $176,750 |
Rapid City's most frequently cited loan purpose was Home Purchase, with 2,584 originations. The 2nd most popular reason was Refi, with 2,173 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 2,539 | $626,705,000 | $246,831 |
| 3-4% | 1,701 | $479,325,000 | $281,790 |
| <2.5% | 1,456 | $344,070,000 | $236,312 |
| 4-5% | 164 | $31,240,000 | $190,488 |
| 5-6% | 31 | $2,805,000 | $90,484 |
| 6-7% | 31 | $2,635,000 | $85,000 |
| 7-8% | 11 | $665,000 | $60,455 |
| Over 8% | 4 | $630,000 | $157,500 |
During 2021, Rapid City's most frequently originated rate bucket was 2.5-3%, with 2,539 originations.
Loan Sizing (RAPID CITY, SD MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $200k-400k | 3,087 | $838,235,000 | $271,537 |
| $100k-200k | 2,290 | $356,410,000 | $155,638 |
| $100,000 or less | 453 | $28,045,000 | $61,909 |
| $400k-600k | 411 | $194,735,000 | $473,808 |
| $600k-1000k | 86 | $63,990,000 | $744,070 |
| $Over $1MM | 33 | $111,955,000 | $3,392,576 |
RAPID CITY's loan sizing saw the bucket of loans from $200k-400k with 3,087 originations, totaling $838,235,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 2,213 | $601,555,000 | $271,828 |
| 60-80% | 1,997 | $557,545,000 | $279,191 |
| 40-60% | 834 | $164,320,000 | $197,026 |
| 20-40% | 299 | $40,315,000 | $134,833 |
| Over 100% | 215 | $67,945,000 | $316,023 |
| Under 20% | 149 | $8,705,000 | $58,423 |
RAPID CITY's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 2,213 originations, totaling $601,555,000 in origination value.