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

Written by:
September 29, 2022
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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 not 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 August 2022. The typical home value in the United States increased over the last year by +14.1% to $356,054. All 13 cities and towns with data available were included in the list.

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1 / 13
Stacker

#13. Blackhawk, South Dakota

- 1-year price change: +$32,474 (+13.7%)
- 5-year price change: +$77,564 (+40.6%)
- Typical home value: $268,743 (#11 most expensive city in metro)
2 / 13
Stacker

#12. New Underwood, South Dakota

- 1-year price change: +$34,722 (+14.2%)
- 5-year price change: +$101,134 (+56.9%)
- Typical home value: $278,979 (#10 most expensive city in metro)
3 / 13
Stacker

#11. Sturgis, South Dakota

- 1-year price change: +$35,584 (+14.6%)
- 5-year price change: +$90,861 (+48.1%)
- Typical home value: $279,943 (#9 most expensive city in metro)
4 / 13
Stacker

#10. Ashland Heights, South Dakota

- 1-year price change: +$36,880 (+17.1%)
- 5-year price change: +$74,726 (+41.9%)
- Typical home value: $253,113 (#13 most expensive city in metro)
5 / 13
Stacker

#9. Summerset, South Dakota

- 1-year price change: +$45,422 (+14.6%)
- 5-year price change: +$112,676 (+46.0%)
- Typical home value: $357,460 (#5 most expensive city in metro)

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6 / 13
Stacker

#8. Rapid City, South Dakota

- 1-year price change: +$49,027 (+18.0%)
- 5-year price change: +$126,638 (+65.2%)
- Typical home value: $321,006 (#8 most expensive city in metro)
7 / 13
Stacker

#7. Box Elder, South Dakota

- 1-year price change: +$49,581 (+17.6%)
- 5-year price change: +$122,310 (+58.7%)
- Typical home value: $330,572 (#7 most expensive city in metro)
8 / 13
Stacker

#6. Custer, South Dakota

- 1-year price change: +$52,032 (+18.2%)
- 5-year price change: +$121,588 (+56.0%)
- Typical home value: $338,556 (#6 most expensive city in metro)
9 / 13
Stacker

#5. Wall, South Dakota

- 1-year price change: +$56,369 (+27.0%)
- 5-year price change: +$101,595 (+62.2%)
- Typical home value: $264,895 (#12 most expensive city in metro)
10 / 13
Stacker

#4. Hermosa, South Dakota

- 1-year price change: +$67,014 (+20.2%)
- 5-year price change: +$165,194 (+70.8%)
- Typical home value: $398,676 (#4 most expensive city in metro)

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11 / 13
Stacker

#3. Hill City, South Dakota

- 1-year price change: +$79,058 (+21.5%)
- 5-year price change: +$205,046 (+84.6%)
- Typical home value: $447,476 (#3 most expensive city in metro)
12 / 13
Stacker

#2. Keystone, South Dakota

- 1-year price change: +$89,608 (+22.3%)
- 5-year price change: +$201,157 (+69.2%)
- Typical home value: $491,743 (#2 most expensive city in metro)
13 / 13
Stacker

#1. Colonial Pine Hills, South Dakota

- 1-year price change: +$92,212 (+20.0%)
- 5-year price change: +$223,523 (+67.7%)
- Typical home value: $553,459 (#1 most expensive city in metro)

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