Median Home Price
$353,836.16
Median Rent
$1,314.88/mo
Price-to-Rent RatioTIE
22.4
Property Tax RateTIE
1.28%
Price Change (1Y)BETTER
+1.9%
Price Change (5Y)BETTER
+9.5%
Break-Even YearsTIE
N/A
10-Year Wealth DifferenceTIE
$272,139
Median Home PriceBETTER
$317,113.49
Median RentBETTER
$1,178.58/mo
Price-to-Rent RatioTIE
22.4
Property Tax RateTIE
1.28%
Price Change (1Y)
+1.0%
Price Change (5Y)
+4.9%
Break-Even YearsTIE
N/A
10-Year Wealth DifferenceTIE
$271,608
Key Differences
Home Prices
Rapid City's median home price of $353,836.16 is higher than Sioux Falls's $317,113.49 by 12%.
Monthly Rent
Renting in Rapid City costs $1,314.88/mo compared to $1,178.58/mo in Sioux Falls—a difference of $136.3/mo.
Buy vs Rent Verdict
Both cities currently favor renting.
Break-Even Timeline
Break-even analysis varies based on market conditions in each city.