Rent by ZIP code in Rapid City
| ZIP code | County | Typical rent | vs city median |
|---|---|---|---|
| 57703 | Pennington County | $1,539 | +5% |
| 57702 | Pennington County | $1,465 | 0% |
| 57701 | Pennington County | $1,397 | -5% |
Rent by bedroom count in Rapid City
Zillow's index above blends every unit size into one number. For a bedroom level view, these are HUD's FY2027 Fair Market Rents for Pennington County. They include utilities and sit near the 40th percentile of the market, so treat them as the low side of what a typical unit lists for.
| Unit size | FY2027 Fair Market Rent | Change from FY2026 |
|---|---|---|
| Studio | $996 | +8.1% |
| 1 bedroom | $1,093 | +7.4% |
| 2 bedroom | $1,430 | +7.0% |
| 3 bedroom | $1,833 | +5.2% |
| 4 bedroom | $2,390 | +9.7% |
Source: HUD Fair Market Rents. Updates when HUD publishes a new fiscal year.
Is rent going up or down in Rapid City?
Typical rent across Pennington County is $1,453 as of September 2026. That is up 4.4% from a year earlier and up 25.9% over five years.
| Year | Typical rent, Pennington County | Change |
|---|---|---|
| 2021 | $1,216 | +16.7% |
| 2022 | $1,339 | +10.1% |
| 2023 | $1,362 | +1.8% |
| 2024 | $1,400 | +2.7% |
| 2025 | $1,399 | -0.0% |
| 2026 (through September) | $1,453 | +3.8% |
Zillow Observed Rent Index for the county, all home types, last published month of each year. Each row is compared with the end of the year before it.
Rapid City rent questions
- What is the average rent in Rapid City, SD?
- Typical asking rent in Rapid City is $1,465 a month as of September 2026, across 3 ZIP codes. By ZIP code it runs from $1,397 to $1,539.
- How much is rent for a 2 bedroom in Rapid City?
- HUD's FY2027 Fair Market Rent for a two bedroom in Pennington County is $1,430 a month including utilities. A one bedroom is $1,093 and a three bedroom is $1,833. Fair Market Rent is set near the 40th percentile, so a typical unit lists somewhat higher.
- Is rent going up or down in Rapid City?
- Rent is rising. Typical rent in Pennington County is $1,453 as of September 2026, up 4.4% from a year earlier.
- What is the cheapest ZIP code to rent in Rapid City?
- ZIP 57701 has the lowest typical asking rent in Rapid City at $1,397 a month, compared with $1,465 for the city overall.
- How much income do you need to rent in Rapid City?
- Most landlords look for gross income of about three times the rent. At the typical Rapid City rent of $1,465, that is about $4,395 a month, or $52,740 a year. This is a common screening rule of thumb, and individual landlords set their own.
How to use these numbers
These are Zillow Observed Rent Index values, a smoothed measure of typical asking rent for single family homes, condos, and apartments in each ZIP code. They describe what units are listed for, not what any specific unit will get. Condition, bedroom count, and the exact block all move the number.
If you are underwriting a purchase, use the ZIP figure rather than the city median, and then verify against live listings for the same bedroom count before you commit. Rapid City sits in the Rapid City, SD metro area.