One South Dakota City among the Best for Increased Home Value
Lately, a lot of homeowners have really reaped the benefit of inflated prices on the market and cashed out well above where they would have if they had sold just a year or two earlier.
But while this bubble seems to be somewhat temporary, there is one place in South Dakota that has seen housing prices skyrocket by more than 230 percent in the past 25 years.
SmartAsset looked at prices all the way back to 1997 and found that out of 400 metropolitan areas in America, Rapid City has experienced the sixth-biggest jump in home prices - a whopping 231 percent increase!
HIGHEST-RANKED MARKETS FOR LONG-TERM PRICE CHANGES (Since 1997)
- Austin-Round Rock-Georgetown, Texas: +368%
- Boulder, Colorado: +277%
- Midland, Texas: +266%
- Odessa, Texas: +247%
- Fort Collins, Colorado: +242%
- Rapid City, South Dakota: +231%
- Dallas-Plano-Irving, Texas: +228%
- Houston-The Woodlands-Sugar Land, Texas: +221%
- Kennewick-Richland, Washington: +217%
- San Angelo, Texas: +214%
The study showed that the average home price in Rapid City never dropped by 5 percent or more within a 10-year period during that time.
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