The story of this market
The typical home in ZIP 57702 sells for about $629,000, or $235 per square foot.
Prices are down 4.65% from a year ago, which gives buyers more room to negotiate. Homes take about 82 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $1,350 a month.
ZIP 57702 — Rapid City
The 57702 housing market shows resilience with high median listing prices, though year-over-year price growth has moderated. Demand remains steady, supported by a stable local economy and limited inventory, though higher interest rates have impacted affordability for some buyers.
This ZIP code is ideal for families and outdoor enthusiasts who value proximity to the Black Hills while maintaining access to the amenities of Rapid City.
Median prices moved down 4.7% year over year.
Homes spend a median of 82 days on market with 3.4 months of supply — a balanced-paced market.
12% of listings have cut prices · homes sell at 98.2% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 3.1% · poverty 7.8% — a stable, low-distress profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 12.0%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 9.0%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
net influx — more people moved in than out
ZCTA 57702, Pennington County SD
Crime rates in Rapid City are generally higher than the national average, with property crime being the most prevalent concern. Local law enforcement focuses on community policing to address these trends.
Schools serving the 57702 area are part of the Rapid City Area School District, which offers a mix of public educational options with varying performance ratings across the district.
The area faces risks from severe weather, including high winds and occasional hail, as well as wildfire risks in the more forested, western portions of the ZIP code.
Economic momentum is driven by the tourism industry, healthcare, and the presence of Ellsworth Air Force Base. Development is steady, with ongoing residential expansion in the western and southern fringes of the city.
South Dakota has no state personal income tax. Property taxes are assessed at the county level based on the property's market value, with specific levies determined by local school districts and municipal budgets.
Residents primarily rely on personal vehicles for commuting, with major corridors like I-90 and US-16 providing access to the Rapid City employment core.
The area offers exceptional access to outdoor recreation, including proximity to the Black Hills National Forest, various city parks, and local golf courses like Meadowbrook.
The rental market is characterized by moderate vacancy pressure and rising rents, influenced by the area's growing population and limited supply of multi-family housing.
The economy is anchored by healthcare, tourism, and government services, with significant employment provided by regional medical centers and Ellsworth Air Force Base.
Transportation is primarily highway-based, with I-90 serving as the main artery for regional transit and commuting.
Development is focused on expanding residential infrastructure to accommodate population growth, particularly in the western corridors.
The Pennington County Equalization Office manages property assessments, utilizing annual market analysis to determine valuations.
Parcels are subject to Rapid City Area School District taxes and various municipal service districts.
Property insurance premiums are influenced by regional wildfire and severe weather risks, with market health remaining stable but sensitive to climate-related claims.
South Dakota has experienced consistent net domestic migration gains, driven by individuals seeking lower costs of living and outdoor lifestyles.
South Dakota is a non-judicial foreclosure state, allowing for a streamlined process that typically requires a notice of sale.
Sellers are required to provide a property condition disclosure statement, detailing known material defects to the buyer.
Data retrieved from data.census.gov ZCTA 57702 profile.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
Public 18-hole course serving the local community.
Extensive outdoor recreation area bordering the western edge of the ZIP.
Major regional shopping destination for the Rapid City area.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.