NAICS 53

Real Estate and Rental and Leasing in Rapid City, SD

Metro Market Score 48.5 (Challenging), ranked #206 of 330 metros. 352 establishments, 921 jobs.

Metro Market Assessment

Metro Market Score 48.5
Favorable 0-35
Moderate 35-48
Challenging 48-60
Difficult 60+
Challenging

ⓘ Lower is better. Relative to national real estate and rental and leasing average.

Labor costs are a clear advantage in Rapid City's real estate and rental and leasing sector. The wage competitiveness index of 24.6 puts it among the lowest-cost metros, and wage pressure at 21.5 suggests that gap is holding steady.

Industry Concentration
54.2
LQ: 0.81
Rank #179 of 330 metros
Wage Competitiveness
24.6
$49,449 avg wage
Growth Trend
↓ 18.2
Employment growth index
Rank #271 of 330 metros
Wage Pressure
21.5
YoY wage change index

352 Real Estate and Rental and Leasing Firms in Rapid City

352
Establishments
-1.1% YoY
921
Total Employment
-3.7% YoY
$49,449
Average Annual Wage
+6.9% YoY
0.81
Location Quotient
Below national avg

Rapid City vs South Dakota Statewide

How this metro's real estate and rental and leasing market compares to South Dakota overall. The state ranks #4/51 for entry risk.

Measure Rapid City SD Statewide
Overall Score 48.5 Challenging 26.4 Low
Score Type Metro Market Score Entry Risk Score
Rank #206 of 330 metros #4 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 Finance and Insurance 50.7 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 real estate and rental and leasing sector, the employment growth component (81.8) 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.