Dave was married to actress Ketki Joshi-Dave; who is daughter of actress Sarita Joshi and Gujarati theatre actor Pravin Joshi. They met in 1979 during a common play and married in 1983. They together have a daughter Riddhi Dave and son Abhishek Dave. Riddhi is also a theatre actress. Rasik Dave died on 29 July 2022 due to complications from kidney failure. He suffered since 4–5 years and was on dialysis frequently.
