Last updated
Average Rent in Rapid City, SD & Rent Trends
Rent prices and market trends across 5 apartment communities in Rapid City, SD. Updated daily.
Market Average
$1,382/mo
▼ 11.5% from last month
Lowest Available
$1,025/mo
cheapest unit on market
Communities
5
tracked daily
Units Listed
25
available now
Price Cuts This Week in Rapid City, SD
6 listed units across 3 buildings in Rapid City, SD dropped their asking rent in the past 7 days, an average cut of $125/mo. These are the largest cuts, tracked unit by unit with daily price checks.
| Apartment | Unit | Last Week | Now | Cut |
|---|---|---|---|---|
| Tallgrass Apartments | Unit 2 | $1,325 | $1,075 | $250 |
| Tallgrass Apartments | Unit 3 | $1,500 | $1,325 | $175 |
| Silver Springs Apartment Homes | Unit 1, The Preserve | $1,305 | $1,200 | $105 |
| Pointe West Apartments | Unit 2, The Overlook | $1,365 | $1,265 | $100 |
| Silver Springs Apartment Homes | Unit 3, The Preserve | $1,315 | $1,225 | $90 |
| Silver Springs Apartment Homes | Unit 2, The Preserve | $1,335 | $1,305 | $30 |
Rent by Neighborhood in Rapid City, SD
Compare average rent across Rapid City, SD neighborhoods. Click any area to see detailed trends.
| Neighborhood | Avg Rent | 30d Change | From | Properties | Units |
|---|---|---|---|---|---|
| Rapid City 57702 | $1,402 | ▲ $25 | $1,025 | 3 | 22 |
| Rapid City 57701 | $1,295 | ▲ $580 | $1,295 | 1 | 1 |
| Rapid City 57703 | $1,200 | - | $1,075 | 1 | 2 |
Is Rent Going Up or Down in Rapid City, SD?
As of August 2026, the average rent in Rapid City, SD is $1,382 per month across 5 apartment communities and 25 available units. Rents have decreased $170 (11.5%) over the past month.
The most affordable option is Copper Ridge Apartments starting at $1,025/mo. By unit type, a studio averages $1,426/mo, a 1-bedroom averages $1,306/mo, a 2-bedroom averages $1,345/mo, a 3-bedroom averages $1,638/mo.
Prices range from $1,025 to $1,775 per month. The most common price point is the $1,200 range, where 12 units are currently listed.
Rapid City, SD Rent Price History
View as table
| Month | Avg Rent | Change | Properties |
|---|---|---|---|
| July 2026 | $1,371 | - | 5 |
The trend line and monthly averages track each building's average listed price, recorded daily with outliers trimmed. The current month is a month-to-date figure, so it can sit above or below today's live market average shown at the top of this page.
Average Rent by Bedroom
Rent Price Distribution
Rent by Bedroom Type in Rapid City, SD
Rent Prices by Apartment in Rapid City, SD
| Property | Starting at | Average | Units | Rating |
|---|---|---|---|---|
| Copper Ridge Apartments | $1,025/mo | $1,461/mo | 15 | 4.7 |
| Tallgrass Apartments | $1,075/mo | $1,200/mo | 2 | 4.5 |
| Silver Springs Apartment Homes | $1,200/mo | $1,261/mo | 4 | 4.3 |
| Pointe West Apartments | $1,255/mo | $1,295/mo | 3 | 4.3 |
| Silver Leaf Apartments - Rapid City/Spearfish | $1,295/mo | $1,295/mo | 1 | - |
Frequently Asked Questions About Rent in Rapid City, SD
What is the average rent in Rapid City, SD?
Is rent going up or down in Rapid City, SD?
What is the cheapest apartment in Rapid City, SD?
How much is a 1-bedroom apartment in Rapid City, SD?
How many apartments are available in Rapid City, SD?
What salary do I need to live comfortably in Rapid City, SD?
Built on the 25 to 30 percent rent-to-income guideline used by most landlords and credit-scoring models.
Minimum to afford average rent
$55,000/year
Based on the 30 percent rule, using our tracked average rent of $1,382/mo.
Comfortable income
$66,000/year
Based on the 25 percent rule, leaving more room for savings, transport, and groceries.
To afford the cheapest tracked apartment ($1,025/mo), you need to earn at least $41,000/year.
Cost of living in Rapid City, SD
We only have live rent data for Rapid City, SD so far. The full cost of living breakdown (utilities, groceries, transportation, healthcare) is coming soon.
| Category | Monthly estimate |
|---|---|
| Rent (market average) | $1,382 |
| Estimated total | $1,382/mo |
Methodology
Rent data
Sourced directly from each tracked apartment community and refreshed every 24 hours. Every listed unit price on this page is real and listed today.
Cost of living
Estimates combine national consumer-spending baselines from the U.S. Bureau of Labor Statistics (Consumer Expenditure Survey) with the U.S. Bureau of Economic Analysis Regional Price Parities (MARPP dataset). Both are peer-reviewed federal data releases published annually.
Salary to live comfortably
Applies the standard 25 to 30 percent rent-to-income rule on top of the listed rent. This is the same affordability guideline used by most landlords and credit-scoring models.
Demographic figures
Median household income, population, median age, commute time, Census median rent, and rent as percentage of income come from the U.S. Census Bureau's American Community Survey 5-year estimates, the most recent complete release.
Cost of living and demographic figures are refreshed annually.
Google Search Trends for Rapid City, SD Apartments
Search interest for apartments in this area over the past 12 months.
Search Interest Over Time
Explore Rapid City, SD Apartments
Browse all 5 communities with daily-updated pricing and availability.