ZIP Code · SD

ZIP 57701

Part of Rapid City, SD

Pop. 45,795·Pennington County·6th most expensive ZIP in South Dakota

Median rent (all units)

$1,397/mo

Year-over-Year

+5.4%

Month-over-Month

+0.2%

vs US Median

-$535

Reported rents

Stable (Monthly)

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Most AffordableMost Expensive

ZIP 57701 · $1,397

More affordable than 80% of US ZIP codes · National median $1,932/mo

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Medians by bedroom

Rent by unit size

Studio

$830

1 BR

$910

2 BR

$1,200

3 BR

$1,570

4 BR+

$1,960

Research median

$1,200/mo

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

Rent trends

12-month history

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Last updated: October 17, 2026

From the history

What the numbers show

Cheapest month to sign

December. Asking rents in ZIP 57701 usually run 0.7% below trend in December and 0.6% above it in August, about $18 a month apart at today's median. Based on 6 years of data.

Compared with the peak

Rent in ZIP 57701 is at its highest level since Zillow's records here began in October 2020.

Past year vs. the rest of South Dakota

Rent in ZIP 57701 changed +5.4% over the year to September 2026. Across the 14 South Dakota ZIP codes Zillow tracks, the typical change was +4.1%.

Recent direction

Rent has risen 10 months in a row, and rose in 11 of the last 12 months.

What a typical income covers

30% of the median household income ($56,461) is $1,412 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($1,200); a 3-bedroom is $1,570.

Rank in Rapid City

1st cheapest of 3 ZIP codes in Rapid City.

From Zillow's monthly rent index (ZORI) for ZIP 57701. The seasonal pattern compares Zillow’s seasonally adjusted and unadjusted series. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$16,764/yr

At $1,397/mo median

Location

CityRapid City

StateSD

CountyPennington County

Rent Market Meter

Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are climbing (5.4% YoY), so leverage tilts toward landlords. Act sooner rather than later.

Based on rent-price momentum (+5.4% YoY, +0.2% MoM), not inventory.

Demographics

Who lives here

ZIP 57701 (Rapid City, SD) is majority owner-occupied, has a median income below the national average, 28.6% of residents hold a bachelor's degree or higher.

Population

45,795

Median income

$56,461

Median age

37.9

Renters

39.2%

Age distribution

21.6%

23.8%

23.4%

19.5%

Under 1821.6%

18–3423.8%

35–5423.4%

55–6411.7%

65+19.5%

Gender

51.1%

48.9%

Male51.1%

Female48.9%

Race & ethnicity

74.3%

17%

White74.3%

Black1.3%

Hispanic6.2%

Asian1.3%

Other17%

Education (25+)

30.7%

34%

28.6%

No HS diploma6.7%

HS diploma30.7%

Some college34%

Bachelor's+28.6%

Housing tenure

60.8%

39.2%

Owner60.8%

Renter39.2%

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

2021 vs 2026

How ZIP 57701 in Rapid City, SD has changed in 5 years

Rent

$998 → $1,397

up 40.0%

Income

$50,721 → $56,461

up 11.3%

Population

45,149 → 45,795

up 1.4%

Renter share

41.9% → 39.2%

-2.7 pts

Bachelor's+

28.1% → 28.6%

+0.5 pts

Median age

36.7 → 37.9

+1.2 yrs

Compared with 2021, rent in ZIP 57701 in Rapid City, SD has climbed by $399 per month, settling near $1,397 after starting the period at $998. Census figures show median household income at $56,461 today, compared with $50,721 five years earlier. Rent outpaced income growth by roughly 28.7 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 45,149 to 45,795 between 2021 and 2024, a 1.4% change. About 39.2% of households rent today, against 41.9% in 2021. The combined trend lines point to a market that has changed measurably from where it stood in early 2021.

Community

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About renting in ZIP 57701

Last updated: October 17, 2026

ZIP code 57701 covers Rapid City, SD. The median rent here is $1,397/mo as of October 2026. A 1-bedroom rents for a median of $910/mo. A 2-bedroom rents for a median of $1,200/mo.

At 30% of local median household income ($56,461/yr), ZIP 57701 ranks as moderate compared to the national benchmark of 30%. Rents have increased 5.4% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 57701?

To keep rent at or below 30% of gross income, you would need to earn at least $56,000/year (about $27/hour full-time) to afford the median rent of $1,397/mo in ZIP 57701. The local median household income is $56,461/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 57701?

Rent in ZIP 57701 has risen 5.4% over the past year as of September 2026. That is the highest level since Zillow's records here began in October 2020.

When is the cheapest time to rent in ZIP 57701?

Asking rents in ZIP 57701 are usually lowest in December, about 0.7% below their yearly trend, and highest in August, about 0.6% above it. At today's median that is a gap of roughly $18 a month. This pattern comes from 6 years of Zillow rent data.

How does ZIP 57701 compare to other ZIPs in South Dakota?

ZIP 57701 is one of the pricier among South Dakota ZIP codes for rent, ranking #6 of 16 at $1,397/mo. Over the year to September 2026, rent in ZIP 57701 changed +5.4%, against a typical +4.1% across the 14 South Dakota ZIP codes Zillow tracks.