Rent in Rapid City, SD
Across Rapid City's 4 ZIP codes, a 2-bedroom typically rents for about $1,385 a month, with figures from $1,073–$1,476. The highest typical rent is in 57703 ($1,476) and the lowest in 57701 ($1,073). 3 ZIPs have ZIP-level figures from HUD or Census; the other 1 uses the county Fair Market Rent. Owner-occupied homes in Pennington County pay about 1.08% of their value a year in property tax, and the 30-year fixed mortgage rate averaged 7.32% in the week of Oct 22, 2026.
Rent by bedrooms
| Size | Typical | Range across ZIPs | ZIPs |
|---|---|---|---|
| Studio | $996 | $586–$996 | 4 |
| 1 bed | $1,041 | $816–$1,252 | 4 |
| 2 beds | $1,385 | $1,073–$1,476 | 4 |
| 3 beds | $1,464 | $1,258–$1,833 | 4 |
| 4 beds | $2,085 | $1,940–$2,390 | 4 |
Typical = median of each ZIP's best guess. Gross rent (rent plus tenant-paid utilities). Sources: Census ACS 5-year median gross rent (Dec 31, 2024) and HUD county Fair Market Rents (Oct 1, 2026).
Rapid City ZIP codes
2 bedsFrequently asked questions
- What is the average rent for a 2-bedroom in Rapid City, SD?
- About $1,385 a month: the median of the typical rents in 4 ZIP codes, which range from $1,073–$1,476. Figures are gross rent (rent plus tenant-paid utilities).
- What is the average rent for a 1-bedroom in Rapid City, SD?
- About $1,041 a month: the median of the typical rents in 4 ZIP codes, which range from $816–$1,252. Figures are gross rent (rent plus tenant-paid utilities).
- What is the average rent for a 3-bedroom in Rapid City, SD?
- About $1,464 a month: the median of the typical rents in 4 ZIP codes, which range from $1,258–$1,833. Figures are gross rent (rent plus tenant-paid utilities).
- What is the average rent for a studio in Rapid City, SD?
- About $996 a month: the median of the typical rents in 4 ZIP codes, which range from $586–$996. Figures are gross rent (rent plus tenant-paid utilities).
- What is the average rent for a 4-bedroom in Rapid City, SD?
- About $2,085 a month: the median of the typical rents in 4 ZIP codes, which range from $1,940–$2,390. Figures are gross rent (rent plus tenant-paid utilities).
- Which Rapid City ZIP code has the highest rent?
- For a 2-bedroom, 57703 has the highest typical rent at $1,476 a month, and 57701 the lowest at $1,073.
- What is the property tax rate in Rapid City, SD?
- Owner-occupied homes in Pennington County pay a typical 1.08% of their value a year (Census ACS, median taxes paid ÷ median home value, Dec 31, 2024). Investors often pay more after a purchase: the home is reassessed at the sale price and there is no homestead exemption.
- What is the current 30-year mortgage rate?
- The 30-year fixed rate averaged 7.32% in the week of Oct 22, 2026 (Freddie Mac PMMS via FRED). It's a national average for owner-occupied loans; investment property loans usually cost more.
- Where do these Rapid City rent figures come from?
- Census ACS 5-year median gross rent (Dec 31, 2024) and HUD county Fair Market Rents (Oct 1, 2026).