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

Rapid City, SD has a median modeled monthly cash flow of $-1,222 and a median cap rate of 2.5%, on a median sold price of $340,000. Prices changed -1.9% 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 2.5%, 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 $340,000 (about $203 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.

$340,000Median sold price

$203Median $/sqft

2.5%Median cap rate

$-1,222Modeled cash flow / mo

-1.9%Appreciation YoY

6.3Months of supply

586Active listings

1,122Sold (last 12 mo)

What the Rapid City numbers say

In Rapid City, SD, the median home sold for $340,000 (about $203 per square foot), and the typical deal models out to a 2.5% cap rate with a median $-1,222 of monthly cash flow. Sold prices moved -1.9% over the past year. Inventory sits at about 6.3 months of supply. 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.