How much does it cost to rent in Rapid City, SD?

As of July 2026, the median monthly rent in Rapid City, SD is $1,443. This figure is based on aggregated data from public sources and community-submitted rents.

Is Rapid City cheaper than other South Dakota cities?

Rapid City is one of the pricier cities in South Dakota, ranking #2 out of 8 cities tracked at $1,443/mo.

When was Rapid City rent data last updated?

Rapid City rent data reflects July 2026 and was last refreshed on July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.

City Report · SD

Rapid City

Name: Average Rent Prices in Rapid City, SD
Creator: RentDataNow
License: https://rentdatanow.com/terms-of-service

Pop. 77,946·2nd most expensive in South Dakota·Rapid City rents are up 14.3% over the past year

Median rent (all units)

$1,443/mo

Year-over-Year

+14.3%

Month-over-Month

+2.9%

vs US Median

-$522

Rising (Monthly)

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Most AffordableMost Expensive

Rapid City · $1,443

More affordable than 79% of US cities · National median $1,965/mo

Rent Reality Score

55/100

Fairly priced

OverheatedFairGreat value

Rents are 3% below what Rapid City's 10-year trend predicts — a better deal than its own history suggests.

Actual rent

$1,443/mo

Expected by trend

$1,481/mo

The Rent Reality Score compares today's median rent to where Rapid City's own long-run trajectory projects it should be. See the full rankings →

Medians by bedroom

Rent by unit size

Studio

$823

1 BR

$920

2 BR

$1,207

3 BR

$1,620

4 BR+

$1,950

Research median

$1,207/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

Loading…

Last updated: July 20, 2026

Annual cost

$17,316/yr

At $1,443/mo median

Rent Market Meter

Strong Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are up 14.3% year-over-year. Expect competition, and move quickly to lock in terms.

Based on rent-price momentum (+14.3% YoY, +2.9% MoM), not inventory.

Rent check

Is your rent fair?

Compare your rent to the local median.

Demographics

Who lives here

Rapid City, SD is majority owner-occupied, has a large retiree population, 37% of residents hold a bachelor's degree or higher.

Population

77,946

Median income

$70,870

Median age

39.1

Renters

37.1%

Age distribution

22%

22.5%

23%

20.7%

Under 1822%

18–3422.5%

35–5423%

55–6411.9%

65+20.7%

Gender

50.9%

49.1%

Male50.9%

Female49.1%

Race & ethnicity

77.5%

13.9%

White77.5%

Black1.2%

Hispanic6.1%

Asian1.3%

Other13.9%

Education (25+)

25.3%

32.2%

37%

No HS diploma5.5%

HS diploma25.3%

Some college32.2%

Bachelor's+37%

Housing tenure

62.9%

37.1%

Owner62.9%

Renter37.1%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How Rapid City, SD has changed in 5 years

Rent

$999 → $1,443

up 44.4%

Income

$58,072 → $70,870

up 22.0%

Population

73,942 → 77,946

up 5.4%

Renter share

38.2% → 37.1%

-1.1 pts

Bachelor's+

34.8% → 37%

+2.2 pts

Median age

38.1 → 39.1

+1.0 yrs

Compared with 2021, rent in Rapid City, SD has increased by $444 per month, settling near $1,443 after starting the period at $999. On the earnings side, the typical household in Rapid City, SD now reports about $70,870, up from $58,072 in 2021. Rent outpaced income growth by roughly 22.4 percentage points, which means renters are spending a larger slice of each paycheck on housing than they did in 2021. Headcount in the area went from 73,942 to 77,946 between 2021 and 2024, a 5.4% change. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher climbed from 34.8% to 37%. For context, the 2021 to 2026 window covers an unusually volatile run for US rents nationally, and Rapid City, SD reflects that arc in its own way.

Community

Discussions about Rapid City

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View Rapid City rent history (2015–2026) →

Salary vs rent

Can you afford rent in Rapid City on your salary?

At $1,443/mo, how Rapid City rent compares to typical pay (30% rule).

Registered Nurse

Avg $83,142/yr · Rent = 20.8% income

affordable

Elementary School Teacher

Avg $59,030/yr · Rent = 29.3% income

affordable

Police Officer

Avg $67,998/yr · Rent = 25.5% income

affordable

Software Developer

Avg $121,537/yr · Rent = 14.2% income

very comfortable

Lawyer

Avg $155,294/yr · Rent = 11.2% income

very comfortable

Firefighter

Avg $55,273/yr · Rent = 31.3% income

stretched

Truck Driver

Avg $49,905/yr · Rent = 34.7% income

stretched

Electrician

Avg $61,512/yr · Rent = 28.2% income

affordable

By apartment size

Rapid City rent by bedroom count

Median rent for each apartment size in Rapid City. Click any size for full breakdown.

Local insights

Tips for renters in Rapid City

About renting in Rapid City, SD

Last updated: July 20, 2026

The median rent in Rapid City is $1,443/mo as of July 2026. A studio apartment averages $823/mo while a 2-bedroom runs $1,207/mo. One-bedroom apartments average $920/mo and 3-bedroom units go for $1,620/mo.

At 24% of local median household income ($70,870/yr), Rapid City ranks as affordable compared to the national benchmark of 30%. Rents have increased 14.3% over the past year.

FAQ

Frequently asked questions

Is Rapid City an affordable city for renters?

Rapid City is considered very affordable for renters. At $1,443/mo, rent takes approximately 24% of the local median household income ($70,870/yr). The standard benchmark is 30%. Rapid City falls comfortably within that range.

How much income do you need to rent in Rapid City?

To keep rent at or below 30% of gross income, you would need to earn at least $58,000/year (~$28/hour full-time) to afford the median rent of $1,443/mo in Rapid City. The local median household income is $70,870/yr, meaning the typical Rapid City household meets that threshold.

Is rent going up or down in Rapid City?

Rent in Rapid City has increased 14.3% over the past year as of July 2026, putting upward pressure on renter budgets.

Which Rapid City neighborhoods have the lowest rent?

The most affordable ZIP codes in Rapid City are 57702 ($1,368/mo), 57701 ($1,404/mo), and 57703 ($1,554/mo). Citywide, the median rent in Rapid City is $1,443/mo.

How does Rapid City rent compare to other cities in South Dakota?

Rapid City is one of the pricier cities in South Dakota for rent, ranking #2 out of 8 tracked cities at $1,443/mo.

What percentage of Rapid City residents rent vs. own?

According to Census data, approximately 37.1% of Rapid City households are renters, while 62.9% are owner-occupied. Rapid City leans toward homeownership, which can mean a smaller rental inventory.

How does Rapid City rent compare to the national average?

Rapid City's median rent of $1,443/mo is $522 (27%) below the US national median of $1,965/mo. Within South Dakota, it ranks #2 out of 8 tracked cities.

Income Affordability

24%

VERY AFFORDABLE

At $1,443/mo, rent takes ~24% of Rapid City's median household income ($70,870/yr). The standard benchmark is 30%.

Rapid City 24%Benchmark 30%

State income taxNone

Run the Rapid City affordability calculator →

Nearby cities

Box Elder

$1,557/mo

+$114

Lowest-rent ZIP codes in Rapid City