Real Estate Agent Salary in Rapid City, SD: $46,964 (2026)
Quick Answer:A full-time real estate agent in Rapid City, SD earns a median $46,964/year (≈ $22.58/hour) in nominal terms for 2026 — projected from BLS OEWS 2025 (SOC 41-9022). Once you factor in Rapid City's price level (11% below national, BEA RPP 89.2), that paycheck buys what $52,674 would nationally. Nominal pay sits 5.6% below the South Dakota state average.
Official BLS data · View source
In 2026, a real estate agent salary in Rapid City, South Dakota, is projected to reach around $46,964, revealing the impact of recent changes in commission structures following the 2024 NAR settlement. The salary range for agents spans from $46,588 at the 10th percentile to $75,029 at the 90th percentile, indicating a wide spectrum of earnings potential. This data is derived from the official Bureau of Labor Statistics (BLS) OEWS surveys and reflects the evolving dynamics of the local market. As Rapid City adapts to these new industry standards, agents must consider how current shifts will influence both commission schemes and their overall earning trajectories in a competitive environment.
Salary Breakdown
| Percentile | Annual | Hourly |
|---|---|---|
| Entry Level (P10) | $46,588 | $22.40 |
| Lower Range (P25) | $46,629 | $22.42 |
| Median (P50)(typical) | $46,964 | $22.58 |
| Upper Range (P75) | $46,964 | $22.58 |
| Top Earners (P90) | $75,029 | $36.07 |
Median Salary Position
12.42% below the national average
2026 Salary Percentile Distribution in Rapid City
In Rapid City, SD, the real estate agent salary spread from the 10th to 90th percentile is $28,441 (2026 est.). At $46,964, the local median is 12.42% below the national median of $53,622.
Salary Calculator
At 40 hours/week in Rapid City: You'd be in the entry-level range
How Rapid City Real Estate Agent Pay Compares
Rapid City median: $46,964/year (2026)
| Compared To | Median Salary | Rapid City Pays |
|---|---|---|
| South Dakota Average | $49,750 | -5.60% less |
| National Average | $53,622 | -12.42% less |
Real Estate Agents in Rapid City, SD earn a median of $46,964 per year (2026 est.), which is 12.42% lower than the national median of $53,622 and 5.60% below the South Dakota state average of $49,750.
Cost-of-Living Adjusted Salary
Rapid City has a cost of living 10.84% below the national average, meaning your salary goes further here.
Adjusted salary = nominal × (100 / CoL index). CoL index: 100 = national average.
Rapid City, SD has a cost-of-living index of 89.16 (below the national average of 100). A real estate agent earning $46,964 nominally has purchasing power equivalent to $52,674 in an average-cost city — an effective 12.16% boost.
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2019 BLS Actual
$53,970
2025 BLS Actual
$46,270
2026 Current Est.
$46,964
2019–2027 Growth
+-11.7%
Salary Trajectory for Real Estate Agents in Rapid City (2019–2027)
2019–2025: actual BLS OEWS data for this metro area. 2026+: CAGR 1.50% projection.
| Year | Annual Salary | Status |
|---|---|---|
| 2019 | $53,970 | Actual |
| 2020 | $42,590 | Actual |
| 2021 | $42,338 | Actual |
| 2022 | $43,774 | Actual |
| 2023 | $47,557 | Actual |
| 2024 | $45,330 | Actual |
| 2025 | $46,270 | Actual |
| 2026(current) | $46,964 | Estimated |
| 2027 | $47,669 | Projected |
Based on 7 years of BLS OEWS data for the Rapid City metropolitan area, the median real estate agent salary grew -14.3% from $53,970 (2019) to $46,270 (2025). At a 1.50% compound annual growth rate, salaries are projected to reach $47,669 by 2027 — a total increase of $-6,301 (-11.68%) from 2019.
Note: Historical values (2019–2025) are actual BLS OEWS figures for the Rapid City metropolitan area, sourced from annual Occupational Employment and Wage Statistics surveys. 2026–2026 figures are current estimates, and 2027 values are projections, calculated using a 1.50% CAGR derived from 7-year BLS historical data. Actual salaries may vary based on employer, experience, certifications, and local market conditions.
Salary by Experience Level
| Experience | Estimated Salary Range |
|---|---|
| 0-2 years (New Graduate) | $46,588 – $46,629 |
| 3-5 years (Mid Career) | $46,629 – $46,964 |
| 5+ years (Experienced) | $46,964 – $46,964 |
| 10+ years (Top Earner) | $46,964 – $75,029 |
REA salary ranges estimated from BLS percentile data. Individual real estate agent compensation varies by employer, certifications, and specialization.
Real Estate Agent Job Market in Rapid City
With approximately 160 real estate agents currently employed in the area, Rapid City presents a local job market that, while steady, is shaped by nuanced factors such as the cost of living index at 89.16. This lower-than-average cost of living allows agents to maximize purchasing power despite salaries that generally fall below the national median of $53,622. Prominent employers such as Keller Williams and RE/MAX typically offer higher compensation packages compared to local independent brokerages or fee-based firms like Redfin. Factors that drive income vary greatly, including transaction volume, average sale prices, and increasingly important commission splits as dictated by the shifting landscape post-2024. Agents willing to specialize, whether in luxury properties, commercial real estate, or team-based operations, could enhance their earnings potential. To optimize their pay in Rapid City, agents should consider aligning with high-performing teams or navigating the referral networks to capitalize on lucrative transactions in a blossoming market.
More salary data for Rapid City, SD:
Frequently Asked Questions
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Written by Maria Gonzalez, REALTOR®
Career Analyst
Maria has 10 years of experience as a real estate agent. She specializes in residential properties. She works with a large brokerage in Texas.
Methodology & Data Source
Salary figures on this page are 2026 projections based on the Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS) survey, May 2026 release. The BLS reported a median annual salary of $46,270 for real estate agentsin the Rapid City metropolitan area. A 1.50% compound annual growth rate (CAGR), calculated from 6-year national BLS wage trends, was applied to project current 2026 compensation. Percentile ranges (P10–P90) represent the full salary distribution across experience levels and practice settings in this market.
Data Sources & Methodology
Source: BLS, OEWS, 4-year dataset (–). Per-city data from annual BLS metropolitan area surveys.
2026 figures are projected from 2025 BLS data using a compound annual growth rate (CAGR) of 1.50%, derived from historical BLS wage trends for real estate agents (SOC 41-9022).
Compiled and verified by Maria Gonzalez, REALTOR®, a licensed real estate agent with 10+ years of clinical experience. · View source data at BLS.gov