Rapid City, MI—49676
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Rapid City, MI
As of Oct '25, the median home price in Rapid City, MI is $382,000, with a year-over-year change of -0.7%. This indicates that home prices in Rapid City, MI are flat. According to Zillow, the 1-year price projection is 3.3%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $382,000 | -0.7% |
| Single Family | $382,000 | -1.5% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $319,000 | -0.6% |
3 Bed | $419,000 | -0.5% |
4 Bed | $714,000 | 2.3% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Rapid City, MI
Rapid City, MI lacks sufficient rental market data for analysis.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $950 | $958 |
| Studio Rent | $950 | $950 |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $975 | $975 |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Rapid City, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in Rapid City, MI is 49. This is a decrease of -17.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 24.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $508,000 | 45.0% |
Listing Count | 25 | 6.0% |
| Listings as % of Homes | 0.6% | 6.0% |
Days on Market | 49 | -17.0% |
Demographics — Rapid City, MI
As of the latest ACS Survey released in 2023, Rapid City, MI has a population of 3,690, which has increased by 4.1% over the past 5 years. Rapid City, MI is a moderately popular place for families, as children make up 22.3% of the population. The area has a moderately educated workforce, with 31.2% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 10.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 3,690 | 4.1% |
% Under 18 | 22.3% | 21.2% |
% Seniors | 30.0% | 40.2% |
% WFH | 10.6% | 37.7% |
% w/ College Degree | 31.2% | 24.3% |
As of the latest ACS Survey released in 2023, Rapid City, MI is a predominantly white area, with 90.6% of the population identifying as white. The white population has shrunk by 1.2% in the last 5 years. The second most common race or ethnicity in Rapid City, MI is hispanic, making up 2.9% of the population. Foreign-born residents account for 0.8% of the population in Rapid City, MI, and this percentage has decreased by 55.6% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 90.6% | -1.2% |
% Black | 0.0% | -100.0% |
% Hispanic | 2.9% | -6.5% |
% Asian | 0.0% | -100.0% |
% Foreign Born | 0.8% | -55.6% |
Mortgage and Risk — Rapid City, MI
According to HUD data as of 2023, there were 85 mortgage originations in Rapid City, MI, of which 85.0% of loans were conventional mortgages. The average loan-to-value was 59.0%, with 18.0% above 90% LTV (elevated). This implies medium mortgage risk in Rapid City, MI. Investor activity is low, as 1.0% of loans were by investors. 15.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 85 |
% Conventional Loans | 85.0% |
% Government Loans | 15.0% |
% Investor Loans | 1.0% |
% Second Loans | 22.0% |
% Cash Out Refinance | 15.0% |
Loan Activity
Rentals and Section 8 — Rapid City, MI
Rapid City, MI lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 1 |
Total Units Section 8 | 1 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $790 |
| 2 Bedroom | $45 | $975 | $1,020 |
| 3 Bedroom | N/A | N/A | $1,320 |
| 4 Bedroom | N/A | N/A | $1,420 |
Affordability — Rapid City, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.1 |
| Median Home Price | $382,000 |
| Median Household Income | $67,500 |