Cost of Living in Rapid City South Dakota - 2023 Style!
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- čas přidán 31. 05. 2023
- Since 2020, things have changed across the country.
So it made sense to update my cost of living video to reflect the present prices and costs.
I talk about
Housing
Utilities
Taxes
Insurance
Groceries
Restaurants
Coffee
Beer
Entertainment
Fun
Daycare
And Healthcare
It's a brand new world in 2023...with everything getting more expensive. 🤮
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CONTACT INFO:
Tristan Emond
📞 605-391-7086
📧 YT@rapidhomesonline.com
🖱 www.rapidhomesonline.com/
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I am Tristan Emond a Rapid City, SD Real Estate Agent with The Emond Team, Mindful Living Realty. Schedule a free coffee with easy chat conversation with us for your home buying and selling dreams!
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Rapid City, SD 57702
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It’s truly a shame how expensive homes have become.
It's been crazy for sure. Hopefully prices will level out some, but I'm not expecting them to go down any... 🤷♂️
even if the bubble pops, there's a million hyenas waiting to jump into the action (im one of them) with all the capital just collecting dividends in a certificate. Demand will only go up and so will prices unfortunately
It is so deeply mind-blowing to see houses selling for 250k, that by all rights, should be bulldozed/condemned. Sad...
What do you say that? mold? Tell me more. Just a curious Phoenician looking around this price range.
I've been in a few of those too. Ooof...
@@BigKrrraig there are some homes that just need considerable more work than others. Just gotta go in with an understanding of what to expect in that price range. My latest clients backed out of one home at $240k that wasn't attached to the foundation 😳 but found a really nice townhome.
Thanks for the information much appreciated
Glad I could help! 👍💯
Helpful, thank you.🙂
That's what I was going for! 🤣 glad I could help.
you think Rapid is bad, you should try buying a house up here in Spearfish…
Ugh yes. I have clients right now looking to get up there. Tough sledding for sure.
Planning on moving to Rapid City in 2 years and I can't wait.
It's been a beautiful spring and start of the summer! I'll be here when you are ready! 👏
As a Rapid City resident, I would say this is pretty accurate.
😎 glad I'm not delusional. 😅 thanks for your comment!
Sinclair !! 🦕 ❤
We got them! 🤣
Good video! Learned a lot!! Yea if you could slow the hall and reduce the housing cost it would make life much easier..😄 oh and drop the interest rate.
Thanks! I'll start doing a dance on those other items. No promises... 🤣
We're looking to move out into Rapic City either later this summer or next summer. So far, the biggest issue appears to be housing costs, whether you're buying or renting. Additionally, the pay out that way is a little on the low side when compared with east side of the state (SF area). Next worry is the school ratings and that is where most conversation start when you have kids, "Have you looked into the schooling, its horrible. . . " Everyone I've been talking to recently that has visited the Black Hills mention how beautiful it is out there but then they mention how dirty parts of town really are, the middle is bad, etc. With all that said, we really love it out there, have friends that life in the Hills, and we are really into hiking and camping / exploring so we feel it would be a good fit.
Yes the cost of housing got crazy pretty quick. And we are lower on wages than national average. We never had too many issues with the school system but have been out of that for 4 years now. But the more people I talk to, the more are happy to be here because of the Black Hills and all the nature around. I'm here to help find a place when you are ready!
Cost of living is about the same for me, but I make more money due to the no income tax, soooooo.
All part of the consideration! Thanks for your comment. 👍💯
Your cost of living is incredibly low compared to the majority of the western half of the US. Looking at options to move from Phoenix.
Many of the people in metro areas do find it cheaper here. Those in other places of the midwest and that have been here for awhile are having a harder time with the trajectory. 🤷♂
Hi, and thank you for all your great videos about Rapid City.
I've been curious, and I've been looking at some of the properties for sale around Rapid City.
I have one question about property taxes.
I've seen houses for sale for 425K, and the property taxes on one house are $147 a month, but on the second house, same price 425K, the taxes are much higher at $623 a month.
Same price, same city.
Why such a big difference in property taxes?
Please let me know at your convenience.
Thank you in advance.
Probably what you are seeing is the owner occupied tax credit. If you live in your home, you get a discount that's 25 to 30%. If you own the property but don't live in it, then you get the higher taxes. If you buy a property with those non owner occupied taxes, we let the county know and you'll get the discount in the next tax cycle or so (depending on when they are notified). 👍
@@TristanEmondOK, it makes sense.
Thank you again! 👍
Why are houses for sale being listed at 100k above Zillow estimate? Taxes will be about 1.2% of the new sale price correct, not what is paid now by current owner?
Taxes are paid based on assessed value, which isn't always purchase price value. Since zillow is just a computer based algorithm, it can't decipher some of the on the ground nuances of the market. From April 15 til now things went crazy - which generally means sellers are gonna test the market a bit since the inventory is low. We'll see what happens this summer if that relaxes some. I generally don't pay too much attention to zillow. 🤷♂️
Homes will continue to go up, we are in a recession and it will only get worse.
True story, unfortunately. We may see some drops in the higher price points, but anything under $500K isn't seeing too much of a slow down.
Hie Trista. Thank you for this informative video. I and my husband are immigrating to Rapid city from Zimbabwe. We are blacks. Is your city welcoming? Please shed light.
Hey thanks for watching! There are certainly few blacks around here - so I asked one point blank if he felt any effects and he said he's always been treated with respect. 🤷♂️
@@TristanEmond OH thus wonderful. God bless 🙌
@@drjesuselshaddai9537were welcoming when people immigrate here legally
Sales tax 4.5% on Food and Medicine. Insanity.
Even Clownifornia dosen't tax food and Medicine.
Taxes gotta come from somewhere with no state income tax. Most of my coming from CA clients have been much happier with the cost of living in the area overall.
@@TristanEmond I agree to a point. However, neighbor next door WY has no income tax.
WY does not tax food or Medicine. SD can surely do the same.
Alaska where I am from has NO STATE INCOME TAX or SALES TAX.
@@jennyjacques573 I would love to see that happen! 🤣 The tax rate went down from 4.5 to 4.2 this year and I was flabbergasted! Lol
@@TristanEmond I am giving a lot of thought to moving to the Black Hills in the Spring for a test run. Spearfish or Belle Fourche. Not ready to commit to a housr yet.
Are rentals studios, 1bedroom hard to come by.
Or possibly Rapid City.
Thanks
@@jennyjacques573 Spearfish and Belle are tight with the rental thing due to Spearfish popularity and BHSU being there. Keep an eye on FB marketplace.
Here is a page on my site w resources:
Www.rapidhomesonline.com/rapid-city-rentals
Mostly RC area here but a few northern hills. If you choose to check things out in the off season, you may be able to find some long term airbnbs...but only until May.
Ohh well back to FLORIDA
Love them Florida beaches!
Great video, thank you. Just a note of advice: stay as neutral and objective as possible because some of the negative connotations are distracting especially being that I'm from California where the taxes and cost of living is on a different level. I'm looking up "south Dakota videos" as a means of getting the objective facts
Thanks for your comment! I do my best to ride the line of objectivity, but also having an opinion. 🤷♂️🕺
Who is this guy. Sounds like he hates South Dakota!
Oh yeah. It's terrible. Too bad I live here. 😂😎
"WHO IS THIS GUY?" An awesome, truthful representative of Rapid City!