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New Report Fall 2026 Housing Affordability Report: every state is less affordable than in late August as average 30-year mortgage rates passed 7%. Read the report

Rapid City, SD Housing Affordability Index

Rapid City, South Dakota has an MBR Housing Affordability Index score of 94.3 (Near National Average) as of October 30, 2026, ranking 256th most affordable of 263 scored South Dakota cities, compared with 111.3 statewide and 97.4 nationally. On a median-priced $299,400 home with 20% down, the South Dakota average 30-year fixed rate of 7.26% means a monthly principal and interest payment of about $1,635, or 28% of the city’s $70,870 median household income.

The MBR Housing Affordability Index (MBR-HAI) for Rapid City is updated every night from live South Dakota mortgage rates and U.S. Census Bureau income, home value and housing cost data for the city. A score of 100 equals the national average; higher scores mean homeownership is more affordable.

Rapid City MBR-HAI 94.3 Near National Average
Rank in South Dakota 256 of 263 1 = most affordable
South Dakota 111.3 Statewide score
National 97.4 100 = baseline
Avg 30-yr rate 7.26% South Dakota lenders
Median home value $299,400 U.S. Census Bureau

Rapid City is 17.0 points below the South Dakota score. Scores as of October 30, 2026. See the South Dakota index

View Rapid City Mortgage Rates

What It Takes to Buy in Rapid City

$1,635/mo
Principal & Interest
Median home, 20% down, 7.26%
$70,100
Income Needed
To keep the payment at 28% of income
$70,870
Median Household Income
South Dakota: $75,081
4.2x
Price-to-Income Ratio
South Dakota: 3.4x
$1,273/mo
Median Owner Costs
Mortgage, taxes, insurance, utilities
$3,212/yr
Median Property Tax
1.07% of median value
28.4%
Owner Cost Burden
Owners spending 30%+ of income on housing
47.6%
Renter Cost Burden
Renters spending 30%+ of income on rent

Source: U.S. Census Bureau American Community Survey 5-Year Estimates (2024) for Rapid City, South Dakota. The rate is the South Dakota average 30-year fixed rate from MonitorBankRates, since lenders publish rates by state.

Cite the Rapid City Score

“MonitorBankRates (MBR) Housing Affordability Index, MonitorBankRates.com, October 30, 2026. Rapid City, South Dakota score: 94.3 (Near National Average), ranked 256 of 263 South Dakota cities. monitorbankrates.com/housing-affordability-index/south-dakota/rapid-city”