Insurance Underwriter Salary in Rapid City, SD: $70,074 (2026)

Insurance Underwriter Pay in Rapid City: What to Expect (2026)

Rapid City offers a median insurance underwriter salary of $70,074, which is $1,557 above the South Dakota state average of $68,517. Compared to the national median of $77,860, Rapid City pays below the national benchmark for this role.

Rapid City's cost of living is 90% of the national average, meaning salary figures here closely reflect actual purchasing power. This makes direct comparisons to other cities straightforward.

The salary range for insurance underwriters in Rapid City spans from $43,740 at the 10th percentile to $113,760 at the 90th percentile — a $70,020 spread. Entry-level professionals start around $45,000, while senior insurance underwriters with 8+ years of experience can earn up to $103,500. Rapid City is a smaller market (pop. 74,703), which may mean fewer openings but also less competition for available positions.

Insurance Underwriter Salary in Rapid City by Experience

In Rapid City, an entry-level insurance underwriter earns around $45,000, while experienced professionals earn up to $103,500 per year. The local cost of living index is 90% of the national average.

Entry Level (0-2 yrs)

$45,000

$-5,000 vs national

Mid Level (3-7 yrs)

$70,200

$-7,800 vs national

Senior Level (8+ yrs)

$103,500

$-11,500 vs national

Percentile	Rapid City	SD State	National
10th Percentile	$43,740	$42,768	$48,600
25th Percentile	$55,080	$53,856	$61,200
Median (50th)	$70,074	$68,517	$77,860
75th Percentile	$90,000	$88,000	$100,000
90th Percentile	$113,760	$111,232	$126,400

Percentile

Rapid City

10th Percentile

$43,740

25th Percentile

$55,080

Median (50th)

$70,074

75th Percentile

$90,000

90th Percentile

$113,760

How to Become a Insurance Underwriter in Rapid City

Education

Most insurance underwriter positions require a bachelor's degree. Rapid City and the surrounding South Dakota area have institutions offering relevant programs.

Key Skills

Risk AssessmentAnalytical SkillsInsurance RegulationsUnderwriting SoftwareDecision-MakingAttention to Detail

Job Outlook

Nationally, insurance underwriter employment is projected to grow -2% over the next decade (decline). Demand in Rapid City may vary based on local industry and population growth.

Frequently Asked Questions: Insurance Underwriter Salary in Rapid City

How much does a Insurance Underwriter make in Rapid City, SD? ▼

The median insurance underwriter salary in Rapid City, South Dakota is $70,074 per year, which is 10% below the national median of $77,860. Salaries range from $43,740 (10th percentile) to $113,760 (90th percentile).

How much does a Insurance Underwriter make per hour in Rapid City? ▼

Based on the median annual salary of $70,074, a insurance underwriter in Rapid City earns approximately $34 per hour assuming a standard 2,080-hour work year.

How does Rapid City compare to the South Dakota state average for insurance underwriter pay? ▼

Rapid City's median insurance underwriter salary of $70,074 is 2.3% above the South Dakota state average of $68,517. The local cost of living index is 90% of the national average.

What is the cost of living in Rapid City, SD? ▼

Rapid City has a cost of living index of 90% compared to the national average. This means a insurance underwriter salary of $70,074 in Rapid City has more purchasing power than the same salary in an average-cost city.

What qualifications do I need to become a insurance underwriter in Rapid City? ▼

Most insurance underwriter positions in Rapid City require a bachelor's degree. Key skills include Risk Assessment, Analytical Skills, Insurance Regulations, Underwriting Software. The job market is projected to grow -2% nationally over the next decade.

Insurance Underwriter Salary in Rapid City, South Dakota