NAICS 52

Finance and Insurance in Rapid City, SD

Metro Market Score 50.7 (Challenging), ranked #179 of 331 metros. 401 establishments, 2,589 jobs.

Metro Market Score 50.7

Favorable 0-35

Moderate 35-48

Challenging 48-60

Difficult 60+

Challenging

ⓘ Lower is better. Relative to national finance and insurance average.

At #179 of 331 metros, Rapid City's finance and insurance sector scores 50.7 on the market index. Concentration (78.5), wage levels (31.1), and growth (44.1) all track close to the median. Local factors like lease costs and client access will matter more than macro signals.

Industry Concentration

78.5

LQ: 0.87

Rank #260 of 331 metros

Wage Competitiveness

31.1

$80,387 avg wage

Growth Trend

↓ 44.1

Employment growth index

Rank #186 of 331 metros

Wage Pressure

32.4

YoY wage change index

401 Finance and Insurance Firms in Rapid City

401

Establishments

-0.7% YoY

2,589

Total Employment

-1.3% YoY

$80,387

Average Annual Wage

+0.9% YoY

0.87

Location Quotient

Below national avg

Within South Dakota

#1 of 1

finance and insurance metros in state

South Dakota state rank

#24 of 51

for finance and insurance entry risk

vs State Median

0.0

matches median (50.7)

Rapid City vs South Dakota Statewide

How this metro's finance and insurance market compares to South Dakota overall. The state ranks #24/51 for entry risk.

Measure	Rapid City	SD Statewide
Overall Score	50.7 Challenging	50.1 Elevated
Score Type	Metro Market Score	Entry Risk Score
Rank	#179 of 331 metros	#24 of 51 states

Metro and state scores use different methodologies (metro has 4 QCEW-based metrics; state adds BDS survival and momentum data). Direct score comparisons are approximate.

Other Industries in Rapid City

Information 45.8 Construction 47.7 Real Estate and Rental and Leasing 48.5 Other Services 52.6 Healthcare and Social Assistance 59.9 Retail Trade 70.8

Finance and Insurance Metros With Similar Conditions

Metros within 5 points of Rapid City's 50.7 score. Useful when comparing markets with comparable entry profiles.

Port St. Lucie, FL 50.7 #180/331 Duluth, MN 50.5 #178/331 Tulsa, OK 50.5 #177/331 Lansing-East Lansing, MI 50.5 #176/331 Greenville-Anderson-Greer, SC 51.0 #181/331 Hanford-Corcoran, CA 50.3 #175/331 Sebastian-Vero Beach-West Vero Corridor, FL 51.1 #182/331 Canton-Massillon, OH 51.2 #183/331 Medford, OR 50.1 #174/331 Great Falls, MT 49.9 #173/331

Finance and Insurance in States Bordering South Dakota

State-level entry risk for finance and insurance in adjacent states. Use this to weigh cross-border options.

Minnesota 46.6 #11/51 Nebraska 49.4 #20/51 North Dakota 52.1 #28/51 Iowa 54.3 #35/51 Montana 59.0 #45/51 Wyoming 62.0 #47/51

Browse Finance and Insurance in Other States

State-level entry risk reports for finance and insurance across all 51 markets, sorted by rank.

About Metro Market Score: A weighted composite of industry concentration (25%), wage competitiveness (25%), wage pressure (20%), and employment growth trend (30%). Lower scores indicate more favorable conditions. For Rapid City's finance and insurance sector, the industry concentration component (78.5) has the strongest pull on the composite. Metro scores use QCEW data only (no BDS survival data at metro level). Read full methodology →

Data Sources

Quarterly Census of Employment and Wages (QCEW), Bureau of Labor Statistics. MSA-level establishment counts, employment, wages, and location quotients for the Rapid City, SD MSA area.

Data period: 2024. Last updated: April 2026.

Metro Market Assessment