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Market MapRapid City, SD
Metropolitan Area

Rapid City, SD

South Dakota0
51
/100
Hold
#692 of 894 metros
Top 77% nationally for investing

Market Snapshot

$360,281
Median Home Price
48% above national median
$1,314/mo
Median Rent
5% below national median
4.38%
Rent-to-Price Ratio
Top 88% nationally
-$1,035
Est. Monthly Cash Flow
With 20% down at 6.9% rate

Price History

Trend based on YoY growth rate. Source: Zillow ZHVI/ZORI

Quick Investment Calculator

20%
5%50%100%

Purchase

Purchase Price$360,281
Down Payment (20%)$72,056
Loan Amount$288,225
Interest Rate6.85%

Monthly Cash Flow

Gross Rent+$1,314
Monthly P&I-$1,889
Est. Expenses (35%)-$460
Net Cash Flow-$1,035/mo
2.8%
Cap Rate (all cash)
-15.0%
Cash-on-Cash Return
4.38%
Rent-to-Price Ratio
Negative leverage: At 6.85% rates, borrowing costs exceed the 2.8% cap rate. All-cash buyers may see better returns.

* Based on metro-wide median values. 35% expenses include taxes, insurance, maintenance, vacancy, and property management. Individual counties and properties vary significantly.

Run Full AnalysisTry House Hack Strategy

Score Breakdown

Overall Investment Score
51/100
51
Cash Flow(30%)
36/100

Based on 4.38% rent-to-price ratio. Higher ratios indicate stronger cash flow potential.

Appreciation(25%)
69/100

Based on 2.0% YoY price growth. Moderate growth (3-8%) scores highest.

Stability(25%)
50/100

Based on 0.0% population growth. Growing areas indicate economic stability.

Affordability(20%)
53/100

Based on price relative to estimated local incomes.

Scores are calculated using real Zillow metro-level home value and rent data, Census population data, and economic indicators. The weighted average produces the overall investment score. This metro score represents area-wide averages; individual counties may vary significantly.

Investment Outlook

Strengths

  • +Low unemployment (0.0%)

Challenges

  • -Below-average rent-to-price ratio (4.38%)
  • -Negative cash flow at typical financing (-$1,035/mo)
  • -Negative leverage (cap rate 2.8% < mortgage rate 6.9%)

Counties in Rapid City, SD

County data is being compiled for this metro area.

Compare to Similar Metros

Metro AreaVerdict
Montgomery, AL
Montgomery, AL
71$203,530$1,3457.93%BuyView
Columbus, GA
Columbus, GA
71$200,025$1,3067.84%BuyView
Scranton, PA
Scranton, PA
71$219,797$1,3117.16%BuyView
Canton, OH
Canton, OH
71$207,064$1,1196.48%BuyView
South Bend, IN
South Bend, IN
71$221,335$1,3337.23%BuyView
Current
Rapid City, SD
51$360,281$1,3144.38%Hold

The Bottom Line

HoldRapid City, SD is a neutral market. Consider house hacking or targeting below-market deals in specific counties.

The Rapid City, SD metro area scores 51/100, ranking #692 of 894 US metros (top 77%). The 4.38% rent-to-price ratio may require targeting specific counties or creative strategies for positive cash flow. Current metro-wide averages make traditional buy-and-hold investing challenging. Consider house hacking, value-add strategies, or drilling down to specific counties.

Monthly Cash Flow
$-1,035/mo
Cap Rate
2.8%
Cash-on-Cash
-17.2%

Ready to Invest in Rapid City, SD?

Use our investment calculators to run detailed numbers on specific properties, or explore individual counties for more targeted opportunities.

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