How much do households in the Rapid City, SD area spend on rent?
Refreshed annually
About $1,140, or 27.4% of their income, in 2020–2024. This is measured by comparing median, or average, rent and median monthly income for renting households.
$1.14K
median monthly rent in Rapid City, SD area (2020–2024)
27.4%
average share of income spent on rent in Rapid City, SD area (2020–2024)
Comparing rent to renter income provides one measure of rental affordability. The Rapid City, SD area’s median rent was about $1,140 per month in 2020–2024. Typical monthly income among renting households was about $4,163 per month during that same period.
A typical household spent about $1,140 on rent in the Rapid City, SD area.
Median gross rent and median renter household income, 2020–2024
Dividing rent by income provides what is called a rent-to-income ratio. A higher ratio of rent-to-income indicates rent is less affordable while a lower ratio indicates greater affordability.
The Department of Housing and Urban Development considers households with a rent-to-income ratio of more than 30%, that is, households that spend more than 30% their income on housing, to be cost-burdened. Cost-burdened households may have less money for other necessities such as food, healthcare, or savings. When median monthly rent is more than 30% of median monthly income, it means a typical household would meet the definition of housing cost-burdened.
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Do households in the Rapid City, SD area spend more or less on rent than other South Dakota metros?
The Rapid City, SD area’s rent-to-income ratio ranked 1 out of 3 South Dakota metros.
Ratio of median gross rent to median renter household income, 2020–2024
Compared to other metro areas in the state, the Rapid City, SD area had the highest median rent and highest median renter-household income. (Metro areas are made up of economically interconnected counties that include at least one urban area. A single metro area can include multiple cities and cross state lines.) Out of the three metros in the state, the Rapid City, SD area’s rent-to-income ratio ranked highest.
Do households in the Rapid City, SD area spend more or less on rent than other small metros?
The small metro median rent-to-income ratio was 30.4%.
Ratio of median gross rent to median renter household income, 2020–2024
The Rapid City, SD area is a small metro, which have less than 250,000 people. Compared to other small metros, the Rapid City, SD area’s rent-to income ratio is lower than is typical. The average among small metros was 30.4% in 2020–2024, 3 percentage points higher than in the Rapid City, SD area.
Renter income and rent, small metro areas (2020–2024)
| 1. | $6,816 | |
| 2. | $5,927 | |
| 3. | $5,861 | |
| 4. | $5,728 | |
| 5. | $5,337 | |
| 6. | $5,027 | |
| 7. | $4,909 | |
| 8. | $4,881 | |
| 9. | $4,850 | |
| 10. | $4,785 |
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Methodology
USAFacts standardizes data, in areas such as time and demographics, to make it easier to understand and compare.
The analysis was generated with the help of AI and reviewed by USAFacts for accuracy.
Page sources
USAFacts endeavors to share the most up-to-date information available. We sourced the data on this page directly from government agencies; however, the intervals at which agencies publish updated data vary.
