Rapid City, South Dakota Short-Term Rental Market
Rapid City STR averaged $239 ADR, 62.4% occupancy and $4,129 monthly revenue in September 2026.
Quick Answer: Rapid City, South Dakota is an active short-term rental market. average occupancy in the Rapid City market area is 62%. average monthly revenue in the Rapid City market area is $4,129. average daily rate in the Rapid City market area is $239. the top operator in the Rapid City market area is Evolve with 72 listings. market score is 50/100 (grade D).
Market data reflects the wider Rapid City market, which covers 6 areas. Regulations, taxes, and permit details below are specific to Rapid City.
Market Score Breakdown
Five dimensions StaySTRA evaluates per market.
Market Overview
Rapid City, South Dakota posted an average daily rate of $239, occupancy of 62.4% and average monthly revenue of $4,129 per listing in September 2026. Compared with a year earlier, occupancy rose 8.4%, ADR rose 2.7% and revenue rose 10.3%, so most of the growth came from more booked nights rather than higher prices. The city is the main gateway to the Black Hills and Badlands and sits about 24 miles from Mount Rushmore. Rapid City drew roughly 3.93 million visitors in 2025, up 1.4% from 2024, and those visitors spent $527.3 million. Most are leisure and outdoor recreation travelers heading to Mount Rushmore, Crazy Horse Memorial, Badlands National Park and Custer State Park.
The Rapid City area STR market tracks 2,458 listings. Entire places make up 2,280 of them (92.8%), with 171 private rooms and 7 shared rooms. By bedroom count, the area has 926 one bedroom listings, 579 two bedroom, 481 three bedroom, 289 four bedroom and 177 five bedroom listings. On distribution channels, 1,041 listings appear on Airbnb, 337 on Vrbo and 1,080 on both platforms.
Entire homes earn a higher ADR than the all listings average, at $245 versus $239. Rapid City has a population of 86,484, and the city estimates that 600 to 1,000 vacation homes operate at any time. A first vacation home ordinance passed in December 2025, so new operators now need a city registration and a state lodging license.
Year to date, 2026 occupancy averages 57.9% against 54.7% for all of 2025, which suggests demand has strengthened this year. Average monthly revenue for 2026 so far is $3,478, compared with $3,268 for 2025.
Seasonal Patterns
| Month | Occupancy |
|---|---|
| Jan | 38% |
| Feb | 47% |
| Mar | 56% |
| Apr | 47% |
| May | 61% |
| Jun | 75% |
| Jul | 75% |
| Aug | 63% |
| Sep | 59% |
| Oct | 49% |
| Nov | 40% |
| Dec | 45% |
Month-by-month nightly rates and revenue figures for Rapid City are available to StaySTRA Pro members. Unlock with StaySTRA Pro or analyze a specific address free.
Top Short-Term Rental Operators in Rapid City market area
Ranked by total active listings. Useful for understanding the competitive landscape. Operator data is published for the Rapid City market as a whole, which includes Rapid City, so these counts are not Rapid City-only figures.
| # | Operator | Listings | Reviews | Rating |
|---|---|---|---|---|
| 1 | Evolve | 72 | 4,999 | ★ 4.79 |
| 2 | Stay in the Black Hills | 60 | 4,536 | ★ 4.82 |
| 3 | Soujourn | 40 | 6,568 | ★ 4.67 |
| 4 | Velora Management Group | 28 | 807 | ★ 4.55 |
| 5 | Bear Property Management | 27 | 1,634 | ★ 4.86 |
What Kind of STR Should I Buy in Rapid City?
Revenue and nightly-rate breakdowns by bedroom count, property tier, and dwelling type for Rapid City are available to StaySTRA Pro members. Unlock with StaySTRA Pro or analyze a specific address free.
Booking Channel Mix
Distribution of bookings across major STR platforms.
| Channel | Share |
|---|---|
| airbnb | 42.4% |
| vrbo | 13.7% |
| both | 43.9% |
Home Value Trends (Rapid City)
Typical home values, median sale prices, and the 10-year price trend for Rapid City are available to StaySTRA Pro members. Unlock with StaySTRA Pro or analyze a specific address free.
Booking Insights
Booking-window and length-of-stay analysis for Rapid City — how far ahead guests book and how to price around it — is available to StaySTRA Pro members. Unlock with StaySTRA Pro or analyze a specific address free.
Short-Term Rental Regulations
Short-term rentals are permitted in Rapid City, but they are now regulated. The city adopted its first vacation home rental ordinance, Ordinance No. 6698, in December 2025 (council vote on December 2, final reading on December 15). It applies to any home within city limits rented in its entirety for stays of up to 28 consecutive days and more than 14 total days per year.
Operators must hold a South Dakota state lodging license, which includes an annual state Department of Health inspection, and complete an annual city registration with a $70 fee. The city gave existing operators a six month grace period to come into compliance.
There is no owner occupancy requirement and no primary residence requirement. Whole home rentals are allowed in all zoning districts that permit residential use. Each property must provide two off street parking spaces. Occupancy is capped at two guests per bedroom plus two additional guests. Homes with more than five bedrooms need a conditional use permit. Partial home rentals where the owner lives on site are regulated separately as bed and breakfasts.
Short-term lodging carries about 8.7% in combined taxes: a 4.2% state sales tax, a 2% city sales tax, a 1% city gross receipts tax on lodging and a 1.5% state tourism tax. The profile rates enforcement severity as moderate. No annual night cap is published. Confirm current rules with the city before buying.
Market Comparison
Rapid City is a highly seasonal market. January occupancy of 37.8% is the lowest of the year, so the annual picture depends heavily on summer. For all of 2025, occupancy was 54.7% and ADR was $219.
The market is led by professional operators. Evolve manages 72 listings with a 4.79 rating, and Stay in the Black Hills manages 60 listings with a 4.82 rating. Soujourn manages 40 listings and has the most reviews at 6,568, with a 4.67 rating. Velora Management Group has 28 listings and a 4.55 rating, and Bear Property Management has 27 listings and the highest rating of the five at 4.86. Together these five operators manage 227 listings, about 9.2% of the 2,458 tracked, so independent hosts still hold most of the supply.
Frequently Asked Questions About Rapid City, South Dakota
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