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QUALITY OF LIFE

HOUSING

Rapid City HousingRapid City is divided into four main areas named by local according to compass direction. South Robbinsdale and North Rapid City make up the bulk of the community's area with the Downtown core separating these neighborhoods. West Rapid is a sprawling, primarily residential neighborhood found "through the gap" created by a scenic and natural barrier of Skyline Drive and Cowboy Hill. Wide traffic arteries provide easy access between the neighborhoods. Schools, churches, shopping centers and other services are well located throughout the city, and the greenbelt that follows Rapid Creek through town makes a seven-mile-long park never more than a few minutes from any home.

Vacancy Rates

Apartments 2-3%
Office 8-12%
Retail 15-20%
Warehouse 10-15%
Trailers 2-3%

Net Rent Per Square Foot

Office $5-18.00
Retail $4-15.00
Warehouse $2-5.00

Rapid City Area MLS Single Family Home Statistics

(Based on Local Public Records)
Total Homes Currently Listed 1.419
Avg. Price of Homes Listed $269,336

January 1 – July 24, 2009

Number Listed 2,052
Number Sold 819
Percentage Sold 39.91
Average List Price Sold 174,498
Sale Price/List Price Ratio 96.91
Average Days on Market 89
Average List Price Unsold 233,725

Rental Rates

Description Monthly Rent
1 bedroom
$511
2 bedroom
$639
3 bedroom
$809
Quarterly survey of rental properties by Kahler Property Management

Rapid City Building Permits (April 2010)

 
2010
2009
Residential
83
53
Value Amount
$5,839,633
$4,123,250
     
Commercial 165 165
Value Amount
$9,217,312
$9,187,585
Source: Rapid City Building Permit ReportApril 2010

 

Additional Resources:
Black Hills Vision
Employer Support of the Guard & Reserve

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