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Cities with the most expensive homes in Rapid City metro area

Finding affordable solutions include moving out of state, moving farther from family and...
Finding affordable solutions include moving out of state, moving farther from family and friends, buying a fixer-upper, moving farther from work, and moving to a less desirable area.(MGN)
Published: Jun. 22, 2022 at 10:36 AM MDT
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(Stacker) - Purchasing a home is one of the most important investments there is. More than a place to live, homeownership is an asset with the potential to tremendously rise in value. Given the current state of the real estate market, housing affordability plays a determining role for buyers. As of June 17, 2022, the 30-year fixed mortgage rate sits at 6.25%. As a result of higher mortgage rates across the board, home prices have risen significantly. The typical home value in the United States increased over the last year by +20.9% to $334,141.

Although home prices have inflated all across the U.S., there are definitely certain areas that have a higher price tag than others. Location, size, age, and condition are all contributing factors to home value. Whether you choose to hold off your home-buying plans in hopes of the market cooling down or are looking to buy ASAP, it’s good to educate yourself on the market in different cities.

Stacker compiled a list of cities with the most expensive homes in Rapid City using data from Zillow. Cities are ranked by the Zillow Home Values Index for all homes as of May 2022. Cities with at least three years of historical data were included. The charts in this story were created automatically using Matplotlib.

#15. Buffalo Gap, SD

- Typical home value: $174,642- 1-year price change: +9.9%- 5-year price change: data not available#14. Wall, SD

#14. Wall, SD

- Typical home value: $244,201- 1-year price change: +33.6%- 5-year price change: +59.0%#13. Ashland Heights, SD

#13. Ashland Heights, SD

- Typical home value: $250,444- 1-year price change: +27.0%- 5-year price change: +46.9%#12. Blackhawk, SD

#12. Blackhawk, SD

- Typical home value: $259,756- 1-year price change: +13.3%- 5-year price change: +35.7%#11. New Underwood, SD

#11. New Underwood, SD

- Typical home value: $265,904- 1-year price change: +21.3%- 5-year price change: +57.9%#10. Fairburn, SD

#10. Fairburn, SD

- Typical home value: $269,507- 1-year price change: +14.4%- 5-year price change: +56.1%#9. Sturgis, SD

#9. Sturgis, SD

- Typical home value: $269,839- 1-year price change: +15.0%- 5-year price change: +45.0%#8. Rapid City, SD

#8. Rapid City, SD

- Typical home value: $321,170- 1-year price change: +24.8%- 5-year price change: +66.6%#7. Box Elder, SD

#7. Box Elder, SD

- Typical home value: $324,437- 1-year price change: +21.8%- 5-year price change: +58.6%#6. Custer, SD

#6. Custer, SD

- Typical home value: $328,585- 1-year price change: +19.1%- 5-year price change: +54.2%#5. Summerset, SD

#5. Summerset, SD

- Typical home value: $345,231- 1-year price change: +13.9%- 5-year price change: +42.5%#4. Hermosa, SD

#4. Hermosa, SD

- Typical home value: $382,420- 1-year price change: +21.0%- 5-year price change: +67.1%#3. Hill City, SD

#3. Hill City, SD

- Typical home value: $427,633- 1-year price change: +25.3%- 5-year price change: +81.0%#2. Keystone, SD

#2. Keystone, SD

- Typical home value: $468,654- 1-year price change: +22.3%- 5-year price change: +64.6%#1. Colonial Pine Hills, SD

#1. Colonial Pine Hills, SD

- Typical home value: $552,177- 1-year price change: +28.4%- 5-year price change: +69.2%

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