Performance indicators for the Rapid City short-term rental market based on reliable data.
Listings
Reliable / Active
Cap Rate
Middle-Earners Gross Yield
Revenue
Middle-Earners Revenue
Occupancy
Middle-Earners Occupancy
Home Value
Median Home Sale Price
Top Earners
Top-Earners Revenue
The highest-performing listings in Rapid City.
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Challenging to Investors
The 50-permit cap each for Tourist Homes and Vacation Homes (using a lottery if oversubscribed) and strict zoning limitations for Vacation Homes (Agricultural district or single-family in Commercial only) significantly constrain market access. While STRs are allowed, the mandatory Local Agent requirement, annual permit renewal, and aggressive enforcement with escalating fines create operational and compliance burdens that dampen investor enthusiasm.
Local STR Agent
STR specialist · Rapid City, MI
Rapid City is an unincorporated community and census-designated place (CDP) in Kalkaska County in the U.S. state of Michigan. At the 2020 census, the CDP had a population of 1,357. Rapid City is located within Clearwater Township, and is about 8 miles (13 km) northwest of Kalkaska.