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 6.44% for the week of 2025-04-03, compared to the national average of 6.64% for the same period.

The average rate for the prior week (2025-03-27) was 6.65% and one month ago for the week of 2025-02-27, the average rate was 6.86%.

Rapid City's average rate one year ago was 6.59%.

For refis of the same type during the week of 2025-04-03, the average rate was 7.04%.

Loan Type Date Rate
US 30 Year Fixed Rate 2025-04-03 6.64%
Rapid City 30 Year Fixed Rate 2025-04-03 6.44%
Rapid City 30 Year Fixed Rate Refi 2025-04-03 7.04%
Rapid City 15 Year Fixed Rate 2025-04-03 5.92%
Rapid City 15 Year Fixed Rate Refi 2025-04-03 5.82%
Rapid City 30 Year FHA 2025-04-03 6.28%
Rapid City 30 Year FHA Refi 2025-04-03 6.26%
Rapid City 30 Year USDA 2025-04-03 6.22%
Rapid City 30 Year USDA Refi 2025-04-03 6.32%
Rapid City 30 Year VA 2025-04-03 5.76%
Rapid City 30 Year VA Refi 2025-04-03 5.72%
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 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
CMG MORTGAGE, INC. 143 6.83% $6,493
BLACK HILLS FEDERAL CREDIT UNION 111 6.36% $6,241
Plains Commerce Bank 80 6.55% $6,563
Granite Community Bank 49 6.40% $5,293
QUICKEN LOANS, LLC 47 6.61% $7,409
UNITED WHOLESALE MORTGAGE, LLC 45 6.93% $6,787
Gateway First Bank 23 6.52% $4,781
U.S. Bank 19 6.95% $4,580
AMERICAN PACIFIC MORTGAGE CORPORATION 17 6.77% $12,317
Dacotah Bank 16 6.59% $3,892
NEWREZ LLC 16 6.75% $5,469
Century Mortgage Company DBA Century Lending Company 15 6.80% $6,683
BANKWEST, INC. 13 6.80% $6,188
Wells Fargo Bank 10 6.90% $4,936
UNION HOME MORTGAGE CORP. 10 6.94% $5,280
TOWNE MORTGAGE COMPANY 9 6.43% $4,595
Mr. Cooper ( Nationstar Mortgage ) 8 6.75% $8,485
Servion, Inc. 7 6.59% $5,027
BMO Harris Bank 6 7.31% $4,421
JPMorgan Chase Bank 6 6.45% $2,301
The Huntington National Bank 5 7.02% $7,466
NAVY FEDERAL CREDIT UNION 5 5.88% $5,480
ARK-LA-TEX FINANCIAL SERVICES, LLC. 5 6.37% $6,634
OPEN MORTGAGE, LLC 5 6.85% $5,798
LOANDEPOT.COM, LLC 5 6.42% $6,270
Security First Bank 4 6.59% $2,596
GUILD MORTGAGE COMPANY 4 6.44% $7,444
DAS Acquisition Company, LLC 4 6.91% $4,760
MUTUAL OF OMAHA MORTGAGE, INC. 4 6.31% $5,131
First Bank & Trust 3 7.00% $13,473
ZILLOW HOME LOANS, LLC 3 6.25% $6,942
First International Bank & Trust 3 5.63% $2,606
GUARANTEED RATE, INC. 3 6.94% $3,721
PENNYMAC LOAN SERVICES, LLC 3 6.37% $3,848
First Dakota National Bank 2 6.81% $3,088
AMERICAN FINANCIAL RESOURCES, INC. 2 6.75% $3,465
AMERISAVE MORTGAGE CORPORATION 2 6.19% $11,888
Bremer Bank 2 7.13% $6,195
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 6.13% $2,625
Farm Credit Mid-America, ACA 2 7.19% $9,752
First Interstate Bank 2 7.06% $3,383
Flagstar Bank, FSB 2 7.06% $4,761
LENOX FINANCIAL MORTGAGE CORPORATION 2 6.12% $7,661
MOVEMENT MORTGAGE, LLC 2 6.84% $6,021
USAA Federal Savings Bank 2 7.13% $3,708
HOMESTEAD FUNDING CORP. 1 5.88% $4,320
Jonah Bank of Wyoming 1 6.75% $6,474
GOLDEN PLAINS 1 8.00% $6,857
LAKEVIEW LOAN SERVICING, LLC 1 7.63% $6,002
American Bank & Trust 1 7.25% $2,777
First National Bank of Omaha 1 6.63% $4,644
Magnolia Bank 1 6.99% $12,052
Morgan Stanley Private Bank 1 5.90% $3,097
West Gate Bank 1 6.50% $3,795
First Financial Bank 1 7.63% $7,325
First Federal Bank 1 6.63% $2,394
Alerus Financial 1 7.13% $755
NBKC BANK 1 7.13% $3,182
Discover Bank 1 6.49% $0
CU MORTGAGE DIRECT, LLC 1 7.00% $7,418
COMPEER FINANCIAL, FLCA 1 7.88% $3,749
Citibank 1 7.38% $7,439
PNC Bank 1 6.88% $2,974
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.99% $6,480
Prosperity Home Mortgage, LLC 1 7.13% $5,350
CASTLE & COOKE MORTGAGE, LLC 1 7.63% $6,878
Carrington Mortgage Services, LLC 1 6.13% $4,380
CARDINAL FINANCIAL 1 7.63% $11,149
SIRVA MORTGAGE, INC. 1 6.00% $2,887
Stifel Bank and Trust 1 6.50% $2,156
Sunflower Bank 1 6.88% $8,633
CANOPY MORTGAGE, LLC 1 6.38% $10,419
BROKER SOLUTIONS, INC. 1 7.50% $3,999
BETTER MORTGAGE CORPORATION 1 6.13% $2,061
Bank of America 1 6.50% $4,520
ALLIANT CREDIT UNION 1 6.00% $2,923
ANGEL OAK MORTGAGE SOLUTIONS LLC 1 10.25% $17,565
VERIDIAN CREDIT UNION 1 6.38% $2,961
GUARANTEED RATE AFFINITY, LLC 1 6.63% $4,512
HOMEBRIDGE FINANCIAL SERVICES, INC. 1 7.38% $7,595
HOMESIDE FINANCIAL, LLC 1 7.63% $3,497

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%) 0.00 414
RAPID CITY's median listing price for 2025-03-01 was $429,900, a difference of $20,000 (4.9%) versus the prior year and $12,400 versus the prior month.

RAPID CITY's median listing price comes in at 0% of the national average.

RAPID CITY's average listing price for 2025-03-01 was $607,841, a difference of $12,103 (2.0%) versus the prior year and $28,131 versus the prior month.

For the 2025-03-01 period, RAPID CITY had 414 MLS listings, a difference of -2 listings (0%) versus the prior month and 53 listings (15%) 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 0 days 1,912 sqft
RAPID CITY's median listing age (time on market) for 2025-03-01 was 0 days. This is -100% shorter than the same period one year ago.

RAPID CITY's median square footage for active listings during the 2025-03-01 period was 1,912 sqft. One year prior, the average listing was 1,855 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.