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 Assessment

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

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

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

Data period: 2024. Last updated: April 2026.