Median Home Price
$353,836.16
Median Rent
$1,314.88/mo
Price-to-Rent Ratio
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 Difference
$272,139
Median Home PriceBETTER
$331,605.71
Median RentBETTER
$0/mo
Price-to-Rent RatioBETTER
0.0
Property Tax RateTIE
1.28%
Price Change (1Y)
-1.9%
Price Change (5Y)
-9.7%
Break-Even YearsTIE
N/A
10-Year Wealth DifferenceBETTER
+$0
Key Differences
Home Prices
Rapid City's median home price of $353,836.16 is higher than Watertown's $331,605.71 by 7%.
Monthly Rent
Renting in Rapid City costs $1,314.88/mo compared to $0/mo in Watertown—a difference of $1,314.88/mo.
Buy vs Rent Verdict
Rapid City favors renting, while Watertown favors either option.
Break-Even Timeline
Break-even analysis varies based on market conditions in each city.