Cities with the fastest growing home prices in Rapid City metro area

Written by:
January 19, 2023
Konstantin L // Shutterstock

Cities with the fastest growing home prices in Rapid City metro area

It goes without saying that the coronavirus pandemic has sparked a wave of uncertainty across myriad industries, and no other market has quite felt its impact like that of real estate.

The pandemic has become a driving force behind the continued real estate boom, with high demand for vacation homes and a limited supply of housing that has prompted buyers and investors to bid up prices for affordable properties, causing home prices to skyrocket. The ability to work remotely played a role in the vacation home demand in mid-2020, as affluent Americans opted to ride out the pandemic with more amenities and space outside dense urban areas.

Stacker compiled a list of cities with the fastest-growing home prices in Rapid City, SD metro area using data from Zillow. Cities are ranked by 1-year price change as of December 2022. The typical home value in the United States increased over the last year by +8.4%% to $356,819. All 13 cities and towns with data available were included in the list.

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1 / 13
Stacker

#13. Ashland Heights, SD

- 1-year price change: +$22,157 (+9.6%)
- 5-year price change: +$86,143 (+51.5%)
- Typical home value: $253,520 (#13 most expensive city in metro)
2 / 13
Stacker

#12. Rapid City, SD

- 1-year price change: +$28,375 (+9.7%)
- 5-year price change: +$124,418 (+63.6%)
- Typical home value: $320,191 (#8 most expensive city in metro)
3 / 13
Stacker

#11. New Underwood, SD

- 1-year price change: +$31,743 (+12.2%)
- 5-year price change: +$116,084 (+66.2%)
- Typical home value: $291,553 (#10 most expensive city in metro)
4 / 13
Stacker

#10. Blackhawk, SD

- 1-year price change: +$33,310 (+12.9%)
- 5-year price change: +$94,209 (+47.9%)
- Typical home value: $291,051 (#11 most expensive city in metro)
5 / 13
Stacker

#9. Sturgis, SD

- 1-year price change: +$34,495 (+12.8%)
- 5-year price change: +$99,744 (+48.9%)
- Typical home value: $303,514 (#9 most expensive city in metro)

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6 / 13
Stacker

#8. Box Elder, SD

- 1-year price change: +$37,414 (+12.5%)
- 5-year price change: +$127,250 (+60.7%)
- Typical home value: $336,814 (#7 most expensive city in metro)
7 / 13
Stacker

#7. Summerset, SD

- 1-year price change: +$45,683 (+13.3%)
- 5-year price change: +$130,487 (+50.5%)
- Typical home value: $388,786 (#5 most expensive city in metro)
8 / 13
Stacker

#6. Custer, SD

- 1-year price change: +$48,481 (+15.4%)
- 5-year price change: +$131,561 (+57.0%)
- Typical home value: $362,291 (#6 most expensive city in metro)
9 / 13
Stacker

#5. Hill City, SD

- 1-year price change: +$49,880 (+12.9%)
- 5-year price change: +$196,905 (+82.4%)
- Typical home value: $435,891 (#3 most expensive city in metro)
10 / 13
Stacker

#4. Wall, SD

- 1-year price change: +$53,545 (+23.1%)
- 5-year price change: +$116,855 (+69.3%)
- Typical home value: $285,421 (#12 most expensive city in metro)

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11 / 13
Stacker

#3. Hermosa, SD

- 1-year price change: +$60,392 (+16.5%)
- 5-year price change: +$178,716 (+72.2%)
- Typical home value: $426,170 (#4 most expensive city in metro)
12 / 13
Stacker

#2. Colonial Pine Hills, SD

- 1-year price change: +$60,888 (+12.0%)
- 5-year price change: +$231,881 (+69.2%)
- Typical home value: $566,937 (#1 most expensive city in metro)
13 / 13
Stacker

#1. Keystone, SD

- 1-year price change: +$78,619 (+17.7%)
- 5-year price change: +$216,739 (+70.9%)
- Typical home value: $522,390 (#2 most expensive city in metro)

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