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Rapid

Learn about the people, housing, costs and businesses in Rapid

Median Home$321,831
Median Rent$1,163/month
Population152,950
Leading IndustriesWholesale Trade · Manufacturing · Agriculture & Mining10% wholesale trade
Home Value Growth⬆⬆+13.1% over 2 years
Retirees20% of residentsslightly above average
Homeowners71% of occupied units
NotableVeteran Community12% of residents · top 7% nationally
Rapid City

Explore Rapid City

Real local data across mortgage, insurance, natural hazard, and place.

Frequently Asked Questions

What are today's mortgage rates in Rapid?›

Mortgage rates for Rapid are updated daily on Safe Rate using live investor pricing. Rates depend on your credit score, loan type (Conventional, FHA, VA, Jumbo), and down payment. A 30-year fixed rate is the most common product for home purchases.

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What is the median home price in Rapid?›

The median home value in Rapid is $322k. The median monthly rent is $1,163. Annual property taxes average $3k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Rapid?›

Home values in Rapid have increased 13.1% over the past two years. This indicates a strong appreciation trend. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Rapid?›

Based on a typical all-in ownership cost of $1,272/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $55k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Rapid is $78k/year.

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What industries drive the economy in Rapid?›

The largest employment sectors in Rapid are public administration (26%) and wholesale trade (10%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.