Rentometer, Inc. | Data as of 10/22/2025
Rapid City’s metro rental market offers a diverse mix of housing options, from modern downtown apartments to spacious family homes on the city’s quiet suburbs. Tenants can enjoy easy access to iconic attractions such as the Black Hills, Mount Rushmore, and the bustling historic Main Street district, all while benefiting from a range of rental choices that suit varied lifestyles and budgets. Popular neighborhoods like the Riverfront District, West Boulevard, and the rapidly growing Oxmoor‑West area feature a blend of new construction and well‑maintained older properties, providing both convenience and character.
Rental rates reflect this variety. Studios typically rent in the low $1,000s, with an average around $1,060 and a median close to $1,020, making them an affordable entry point for young professionals and students. One‑bedroom units—whether in apartments or single‑family homes—span a broader range, with many falling between the $1,200 and $2,500 marks; a median house price of $1,095 illustrates the competitive pricing for stand‑alone homes. Larger two‑ and three‑bedroom apartments and houses commonly sit in the $1,300 to $2,200 range, while four‑plus bedroom properties often reach the $2,000s, appealing to larger families or those seeking extra space.
Beyond the numbers, Rapid City’s rental landscape is shaped by its vibrant community feel and abundant outdoor recreation opportunities. Residents enjoy proximity to lakes, hiking trails, and cultural events, all contributing to a high quality of life that makes the metro area a compelling choice for renters looking for affordability, convenience, and a strong sense of place.
| Property Type | Bedrooms | Average | Median | Min - Max | 25th - 75th |
|---|---|---|---|---|---|
| Apartment | Studio | $1,060 | $1,020 | $485 - $2,050 | $960 - $1,150 |
| Apartment | 1 Bedroom | $3,704 | $1,220 | $590 - $99,500 | $1,100 - $1,348 |
| Apartment | 2 Bedroom | $1,408 | $1,375 | $479 - $3,850 | $1,175 - $1,555 |
| Apartment | 3 Bedroom | $1,656 | $1,690 | $997 - $2,150 | $1,500 - $1,800 |
| Apartment | 4+ Bedroom | $2,046 | $2,178 | $1,564 - $2,398 | $1,564 - $2,398 |
| House | 1 Bedroom | $1,211 | $1,045 | $600 - $2,750 | $900 - $1,500 |
| House | 2 Bedroom | $1,444 | $1,462 | $452 - $2,300 | $1,200 - $1,775 |
| House | 3 Bedroom | $1,916 | $1,850 | $795 - $7,500 | $1,525 - $2,250 |
| House | 4+ Bedroom | $2,501 | $2,395 | $1,300 - $5,000 | $2,200 - $2,600 |
In the current period, the average rent in Rapid City, SD was $1,066 for Studio, $3,379 for 1 Bedroom, $1,419 for 2 Bedroom, $1,821 for 3 Bedroom, and $2,341 for 4+ Bedroom.
Data provided by Rentometer, Inc.