Rapid City, SD Federal Housing Finance Agency Home Price Index (FHFA HPI)

In the fourth quarter of 2019, the FHFA House Price Index for Rapid City, SD was 195.7. This is a 0.4% increase from the previous quarter, and a 4.2% increase from one year ago. The index is a measure of home equity, or the value of a home after subtracting outstanding mortgage debt.

Rapid City's housing market has been strong in recent years, as evidenced by the rising house price index. Home values have increased steadily, and there is high demand for both buying and renting homes in the area.

The rise in home equity is good news for homeowners in Rapid City, as it means their homes are worth more than they owe on their mortgages. It also indicates that there is strong demand for housing in the area and that prices are likely to continue to rise in the future. This is good news for those looking to buy a home in Rapid City, as they can expect to see appreciation on their investment over time.