Is Rapid City, SD a good place to invest in rental property?

Rapid City, SD has a median modeled monthly cash flow of $-1,164 and a median cap rate of 2.6%, on a median sold price of $356,000. Prices changed -0.5% year over year.

What is the average cap rate in Rapid City, SD?

The median cap rate across recently sold homes in Rapid City, SD is 2.6%, based on CashFlowRE's rent and expense modeling.

What is the median home price in Rapid City, SD?

The median sold price in Rapid City, SD is $356,000 (about $207 per square foot).

Investing in Rapid City, SD Real Estate

A data-driven snapshot of the Rapid City, SD rental-property market, built from recently sold homes and CashFlowRE's per-listing investment modeling — median price, cap rate, monthly cash flow, appreciation and inventory — so you can judge the market before you ever open a listing.

$356,000Median sold price

$207Median $/sqft

2.6%Median cap rate

$-1,164Modeled cash flow / mo

-0.5%Appreciation YoY

10.4Months of supply

1,094Active listings

1,259Sold (last 12 mo)

What the Rapid City numbers say

In Rapid City, SD, the median home sold for $356,000 (about $207 per square foot), and the typical deal models out to a 2.6% cap rate with a median $-1,164 of monthly cash flow. Sold prices moved -0.5% over the past year. Inventory sits at about 10.4 months of supply — a looser, buyer-friendly market. These are medians across recorded sales; individual properties vary widely, which is exactly what CashFlowRE scores listing by listing.

Other South Dakota markets to compare

See Rapid City cash-flowing listings

CashFlowRE ranks every for-sale home in Rapid City, SD by cap rate, cash-on-cash return, DSCR and monthly cash flow — so the best rental deals rise to the top. Create a free account to screen Rapid City deals, or browse the national market data.