Rapid City, SD
Rapid City, SD real estate market: appreciation, rent growth, cap rate, IRR, and property taxes.
Appreciation
: 4.1%/yr.
Rent growth
: 3.4%/yr.
Median cap rate
: 2.8%.
Median IRR
: 3.9%.
Median rental home value
: $310,000.
Median rental rate
: $1,140/mo.
Median property tax
: $3,211/yr.
Sources: FHFA House Price Index®, U.S. Census Bureau ACS 5-year estimates, and Rescover analysis of public single-family listings, updated September 2026.
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ZIP codes in Rapid City, SD
Rental market data for every ZIP code in this metro area.