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📂 Category: Retirement Planning,Personal Finance
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Key takeaways
- If you’re retired and have an RV, consider visiting Rapid City, South Dakota. It contains a balanced mix of outdoor recreation, arts, restaurants and medical facilities.
- Rapid City is located in southwestern South Dakota, close to major destinations like Mount Rushmore and Badlands National Park.
- With about 80,000 people, home values in Rapid City are slightly below the national average.
Are you thinking about living the recreational vehicle (RV) life? It’s no wonder RVs attract many retirees looking for a close connection to nature while balancing freedom and flexibility along with a low cost of living.
If you’re thinking about packing up and living out of an RV, you’ll want a home base with a few special advantages: easy parking, wide, well-maintained roads, and proximity to scenic drives.
According to the RV classifieds platform, RV Trader, one of the best destinations for adventure-seeking retirees is Rapid City, South Dakota.
A solid choice for RV enthusiasts
Located in southwestern South Dakota, Rapid City caters to outdoor enthusiasts with easy access to excellent biking, hiking, fishing, golf and other activities. The city also offers great dining options and a bustling arts scene, with the Fine Arts Theater, Arts Walk, and Performing Arts Center.
RV drivers know that important logistical details can make or break a road trip experience. Fortunately, Rapid City welcomes RVers. Parking options are plentiful and include Rushmore Shadows Resort (standard reservation around $74 per night) and Rapid City RV Park (monthly rates start at $950). Due to seasonal demand and closures, it is best to book your stay several months in advance if possible.
Rapid City is in a great location: it’s only a half-hour from Mount Rushmore and an hour from Badlands National Park. Besides these popular destinations, Rapid City is also a great starting point for exploring a host of other attractions as well.
Potential retirement destination
While Rapid City makes it entirely possible for travel enthusiasts to live out of an RV in the area, some retirees may also want to consider settling down permanently.
The cost of living in Rapid City is low compared to many cities across the United States. The living wage for two adults on one income is just under $30 an hour, or about $62,000 a year before taxes. Your costs may of course vary depending on your preferences and health.
Quick fact
Rapid City’s median home value is just over $354,479, which is just below the national average of about $360,727. Homebuyers may have an advantage, as more than 70% of homes sell for less than their listed price.
From Black Hills Surgical Hospital to Monument Health Hospital System and more, you’ll have access to an array of healthcare facilities. South Dakota has approximately 70 hospital facilities.
Furthermore, South Dakota is fairly tax-friendly for retirees. There is no income tax, so all forms of retirement income — withdrawals from retirement savings accounts, annuities, and Social Security benefits — are not taxable. In addition, the sales tax rate is relatively low at 4.2%. With no estate tax, South Dakota may also appeal to those considering the tax implications of leaving an inheritance to their family.
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