Permits through August 2026Yearly permits since 1995Pennington County index 1978–2025
Pennington County (100 = first year)United States, rebased to the same startNBER recession
House prices are indexed by county, not by city: this is Pennington County's FHFA index, with the national index rebased to the same start.
Census Bureau notes: building permit figures cover new privately owned housing units authorised by permit-issuing places; permits do not mean the units were started or completed, and places that report less often than monthly are imputed in monthly totals. FHFA notes: The FHFA HPI is a broad measure of the movement of single-family house prices. The FHFA HPI is a weighted, repeat-sales index, meaning that it measures average price changes in repeat sales or refinancings on the same properties.
In the 12 months to August 2026, building permits in Rapid City, South Dakota, covered 371 housing units (−37.1% year on year); the place lies in Pennington County.
168 of those units were single-family houses (45%), 20 were in two- to four-unit buildings and 183 in buildings of five or more units. That is 4.6 units per 1,000 residents, below the county's 5.3 and below the state's 6.4.
Since 1995 the place has authorised 14,697 units, with the busiest year 2023 (1,167 units). Pennington County's FHFA house price index rose +95.0% over the ten years to 2025.
371units permitted, 12 months to August 2026−37.1% on the previous 12 months
168single-family units45% of the total
183units in 5+ unit buildings49% of the total
4.6units per 1,000 residentsPennington County 5.3 · South Dakota 6.4
Permits by month and structure type
Housing units authorised in Rapid City by month, latest 24 monthssingle-family2+ unit buildings
Units, 12 months to August 2026
Rapid City
Pennington County
South Dakota
United States
All housing units
371
616
5,973
1,418,086
Single-family (1 unit)
168 (45%)
413 (67%)
3,244 (54%)
888,241 (63%)
2 units
20
20
114
34,814
3–4 units
0
0
167
17,298
5 or more units
183 (49%)
183 (30%)
2,448 (41%)
477,733 (34%)
Units per 1,000 residents
4.6
5.3
6.4
4.1
Change on previous 12 months
−37.1%
−31.3%
+5.1%
−0.1%
Permits by year since 1995
Housing units authorised in Rapid City by year, 1995–2025single-family2+ unit buildings
14,697 units since 1995; the busiest year was 2023. Annual figures include units imputed for months a place did not report.
Home prices in Pennington County
FHFA's index for Pennington County rose +95.0% over the ten years to 2025 (+6.9% a year) and +2.5% in the latest year, against +84.7% and +3.1% for South Dakota. Full county page: decade table, peak-to-low declines, every ZIP code and every permit-issuing place in the county.
Questions and answers
How many homes are being built in Rapid City, SD?
371 housing units were authorised by building permits in the 12 months to August 2026, against 590 in the previous 12 months.
What kind of housing is being permitted in Rapid City?
168 single-family units, 20 in two-unit buildings, 0 in three- and four-unit buildings and 183 in buildings of five or more units.
How does Rapid City compare with its county and state?
4.6 units per 1,000 residents in Rapid City, 5.3 in Pennington County and 6.4 in South Dakota.
How have home prices moved in Pennington County?
FHFA's index for Pennington County rose +95.0% over the ten years to 2025 and +2.5% in the latest year; the county page has the full series.
What does a permit count?
A housing unit authorised by a building permit for new privately owned residential construction, as reported to the Census Bureau Building Permits Survey by the permit-issuing office. Permits are not completions; some permitted units are never built, and places that report only annually are imputed in monthly figures.
Provenance
Permits: US Census Bureau, Building Permits Survey, place-level monthly and annual files through August 2026 (permit office 494500); county and state comparisons from the county and state files. Population: Census Bureau vintage 2025 estimates for incorporated places, matched on FIPS place code where the permit office is one. House price index: Federal Housing Finance Agency. Public domain. Corrections · Building Permits Survey.