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Pawn Shops vs Payday Loans in Rapid City, SD
9 pawn shops in and around Rapid City — 9.1 per 100,000 residents, compared with 3.7 across South Dakota. Call ahead to ask what they're buying and lending on today: inventory needs change weekly. Rapid City ranks #1 of 2 South Dakota cities with pawn shops by shops per resident.
- Pawn shops
- 9
- Pawn shops per 100k
- 9.1
- South Dakota: 3.7
- Big-chain shops
- 0
- Payday & loan stores
- 1
- Population
- 98,535
Pawn shops in Rapid City: addresses and phone numbers
| Pawn shop | Address | Phone | Website |
|---|---|---|---|
| Best Choice Pawn | 1903 N Maple Ave Rapid City, SD 57701 | (605) 791-1050 | bestchoicepawn.doodlekit.com |
| Black Hills Pawn | 905 E North St Rapid City, SD 57701 | (605) 348-1122 | blackhillspawn.com |
| Fair Deal Pawn & Gun | 307 East Blvd N Rapid City, SD 57701 | (605) 341-8664 | fairdealpawnandgun.com |
| First National Pawn | 115 E North St Rapid City, SD 57701 | (605) 341-6866 | firstcash.com |
| First National Pawn | 930 E North St Rapid City, SD 57701 | (605) 341-5090 | firstnationalpawn.net |
| Liberty Pawn | 407 E North St Rapid City, SD 57701 | (605) 716-6236 | liberty-pawn.com |
| Pawn With Us | 406 E North St Rapid City, SD 57701 | (605) 341-9950 | pawnwithus.net |
| Presidential Pawn | 629 St Joseph St Rapid City, SD 57701 | (605) 342-7296 | presidentialpawnshop.com |
| Rushmore Coin | 601 Kansas City St Ste 6 Rapid City, SD 57701 | (605) 791-0372 | — |
Pawn shops vs payday loan stores in Rapid City
Rapid City has 9 pawn shops and 1 payday, installment and title loan stores.
Pawn shops
9
9.1 per 100k residents
Payday & loan stores
1
1.0 per 100k residents
1 store chain
Biggest loan store chains in Rapid City: OneMain Financial (1).
Borrowing $500 for one month: payday vs pawn vs credit union
| Option | How it works | Cost for one month |
|---|---|---|
| Payday loan (not legal in South Dakota) | $75.00 fee every 2 weeks, renewed once | $150.00 |
| Pawn loan (example: 20% a month) | You leave an item worth more than the loan; repay to get it back | $100.00 |
| Credit union PAL (28% APR + $20 fee) | Repaid in installments; membership required | $31.67 |
- Payday cost, share of monthly household income in Rapid City
- 2.6%
- Pawn cost, share of monthly household income in Rapid City
- 1.7%
- A $400 emergency equals
- 2.1 days of income
Payday: a typical fee of $75 on a $500 loan for 2 weeks, paid twice for a one-month loan (South Dakota payday rules are not set in dollars or payday loans are not allowed). Pawn: an example rate of 20% a month; pawn fees and interest are set by South Dakota law and vary by shop — ask for the total in writing. PAL: payday alternative loan from a federal credit union, capped at 28% APR plus an application fee of up to $20.
Pawn loan vs payday loan: the key differences
| Pawn loan | Payday loan in SD | |
|---|---|---|
| What you need | An item of value (jewelry, gold, electronics, tools, firearms) and an ID | A bank account, proof of income and an ID |
| Credit check | None | Usually none |
| How much you get | A fraction of the item's resale value | Based on your income, up to the state limit |
| If you can't repay | The shop keeps the item; no collections and no credit damage | Fees pile up with renewals; the debt can go to collections |
| Bank account access | None | Lender can debit your account or cash your check |
| Rules in South Dakota | Pawnbrokers are licensed and regulated by South Dakota; fees, terms and holding periods are set by state law | Storefront payday loans are not allowed in South Dakota |
Rapid City at a glance
- Median household income
- $70,356
- South Dakota: $73,056
- Poverty rate
- 12.3%
- South Dakota: 12.0%
- Households under $25,000
- 15.4%
- South Dakota: 14.9%
- A $400 emergency equals
- 2.1 days of income
Payday and installment loan stores in Rapid City
For comparison: storefront payday, installment and title lenders in Rapid City with addresses, phone numbers and hours.
| Address | Phone | Hours | Google rating |
|---|---|---|---|
| 1301 W Omaha St #103 Rapid City, SD 57701 | (605) 343-3550 | — | 4.3 |
Pawn shops near Rapid City
More about Rapid City
Pawn shop listings: © Overture Maps Foundation (CDLA-Permissive 2.0), including Foursquare OS Places and © OpenStreetMap contributors; filtered and de-duplicated by us. Population, income and poverty: U.S. Census Bureau, American Community Survey. Call ahead to confirm hours and what a shop buys or lends on.