The median selling price for Rapid City at the end of July 2013 was $191,900, representing a slight increase of 1.5 percent over the same period last year. The latest average listing price was $285,718. Slightly more than half, or 59.3 percent, of housing units are owner occupied. Houses show a vacancy rate of just 0.9 percent, while apartment vacancies are running at 5.7 percent, making rent to own homes a popular option.
While it's now home to big box stores and supermarkets, Rapid City still serves the same shopping role as a frontier trading post, providing supplies to people in the surrounding area. Shoppers from outlying towns and farms drive in when it's time to stock up. Rushmore Mall has the anchor stores and specialty shops you would expect and a few surprises, like "Trains of America," which operates a scale train to give kids a ride around the inside of the mall. In addition to entertainment and good restaurants, the downtown area has boutique shops selling local items like Native American jewelry and Black Hills Gold.
Arts and Culture
Newcomers to Rapid City might be surprised by the vibrant nightlife, numerous art galleries, and quality museums. Art Alley, an actual alley in downtown that has been transformed into a street art gallery, has garnered national attention. A symphony orchestra, dance troupe, and community theater bring everything from great musical performances to Broadway productions. The Apex Gallery, Dahl Arts Center, and Journey Museum each host unique art displays. The latter chronicles the history and geology of the area, going back 2.5 billion years to the formation of the Black Hills. Family Movie Night in downtown is a favorite with the locals, where people get together and watch movies together in open air.
Rapid City Neighborhoods
With plenty of shopping, culture, and nature, Rapid City offers itself as an ideal city in which to settle. Described here are a few neighborhoods in the city:
Downtown Historic District: This neighborhoodholds notable buildings like the 1914 First National Bank, across from what was a horse-watering station. Studios, apartments, and some single-family homes are common.
West Boulevard District: The West Boulevard District is another historic part of town with many 19th-century structures. Parts of the neighborhood still look like they were pulled from a John Wayne movie!
Ashland Heights:Ashland Heights is a big north side community with tree-lined streets giving way to a more rural setting further north.
Colonial Pine Hills: This area has luxury homes with large lots in an unincorporated area to the southwest.
Canyon Lake Park: Canyon Lake Parkis centered around a huge park and features multi-unit apartment buildings mixed with single-family homes. The popular Arrowhead Country Club is nearby.