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RentData.org Logo Rapid City Fair Market Rent FY 2021 Rapid City, SD HUD Metro FMR Area Rental Data

Fair Market Rent Prices in Rapid City, SD :
$577 $664 $875 $1,237 $1,437
Studio / Efficiency 1-Bedroom 2-Bedroom 3-Bedroom 4-Bedroom
0-BR 1-BR 2-BR 3-BR 4-BR
Moderate 40th Percentile Metro Area

Fair Market Rent prices in Rapid City are high compared to the national average. This FMR area is more expensive than 80% of other FMR areas. Fair Market Rent for a two-bedroom apartment in Rapid City is $875 per month.

The previous year, rent for a two-bedroom home was $841 per month. This is a 4.04% increase year-over-year.

This FMR rate applies to Caputa, SD, Scenic, SD, Wall, SD, Hill City, SD, Rapid City, SD and other cities within the region. The Metro Code or CBSA code for this region is METRO39660M39660.

Additionally, This Fair Market Rent (FMR) area Rapid City, SD HUD Metro FMR Area spans one county or city in South Dakota which is listed in the table below. Estimated population of Rapid City, SD HUD Metro FMR Area FMR area is 108,125 people based on latest Census data.

Compared to the rest of South Dakota, the Rapid City FMR area is more expensive than 98% of the state.

South Dakota Rents Map

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What is Fair Market Rent?

Fair Market Rent is determined each fiscal year by the HUD and is used to set payment standards for federal housing assistance programs in Rapid City. Fair Market Rent is the 40th-percentile of typical rentals in a given region. Learn more

Median Rent Prices in Rapid City

To compute the 40th percentile of rent prices the HUD must determine the median or 50th percentile as well. 50th percentile rent prices are NOT fair market rents (unless otherwise noted as a 50th percentile designated region above). However, some home owners or rents may be interested in the median rent prices as well.

50th Percentile Rental Prices:
0-BR Studio / Efficiency $ 618
1-BR 1-Bedroom $ 710
2-BR 2-Bedroom $ 936
3-BR 3-Bedroom $ 1323
4-BR 4-Bedroom $ 1537
Change Year:
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025

There is just one county (listed below) within the Rapid City, SD HUD Metro FMR Area FMR area (most regions, especially metro areas, cover multiple counties). This FMR area covers one metro area: Rapid City.

County / Region Est. Population
Rapid City, SD Metro 108,125
Zip Codes in Rapid City, SD HUD Metro FMR Area

There are 6 unique zip codes in this Fair Market Rent (FMR) area:

57703, 57709, 57725, 57745, 57780 and 57790

Lookup Fair Market Rent by Zip Code

What's Next?

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