Apartments for Rent in Rapid City, SD

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What to Know About

Life in Rapid City & Beyond

Rapid City shares many of the great qualities that make South Dakota a desirable place to live.

South Dakota combines natural wonders, rich history, and irresistible charm. Dive into the state's fascinating heritage through its cultural landmarks and historical sites, such as the captivating South Dakota Cultural Heritage Center and the legendary Museum of the American Bison, or opt to further your education at world-renowned institutions such as South Dakota State University and the University of South Dakota. South Dakota's economy thrives on agriculture, tourism, and manufacturing.

Sports lovers will be in paradise with various seasonal activities such as skiing, snowboarding, and snowmobiling in the winter and golfing, camping, fishing, and hiking in the summer. Also, discover iconic attractions like the world-famous Mount Rushmore National Memorial, the awe-inspiring Dinosaur Park, the rugged Badlands National Park, the enchanting Black Hills National Forest, and the historic city of Deadwood.

With its stunning natural beauty and robust economy, South Dakota is the ideal destination for those who seek outdoor recreation and an unparalleled western experience. So get ready to be enchanted by South Dakota's irresistible charm, pristine landscapes, and unbeatable quality of life. South Dakota is an excellent place for those who want to live their best lives.

Rental Market Trends

Rapid City, SD

As of August 2025, Rapid City's rental market is competitive, with strong renter demand causing quick leasing times for well-priced units. Rapid City's average rent is 0.7% ($8) lower than the South Dakota average of $1,168 and 35.2% ($630) lower than the U.S. average of $1,790.

Average Rent
$1,160
Monthly ChangeMonth Over Month Change
Decreased1.3% ($15)
Yearly ChangeYear Over Year Change
Increased4.4% ($49)
Avg. Days on MarketAverage Days on Market
29
Unit Type Average Rent Monthly ChangeMonth Over Month Change Yearly ChangeYear Over Year Change
1 Bed $965 Decreased10.2% ($110) Decreased4.2% ($42)
2 Beds $1,172 Decreased1.8% ($21) Increased5% ($56)
3 Beds $1,464 Increased1.4% ($20) Increased6.6% ($90)
Nearby Cities Average Rent Avg. Rent vs. Rapid CityAverage Rent vs. Rapid City Avg. Days on MarketAverage Days on Market
Black Hawk $1,456 Increased25.5% ($296) 37 days
Box Elder $1,420 Increased22.4% ($260) 33 days
Rental market trends are calculated using listing data from RentalSource.
Frequently Asked Questions
Rapid City Rental Market FAQs

Explore rental prices, market trends, and availability in Rapid City, SD.

The average rent in Rapid City, SD is $1,160 per month.
Apartments in Rapid City typically rent for between $676 and $1,903 per month, with an average of $1,160 per month.
In Rapid City, the average rent for a 1-bedroom apartment is $965 per month, for a 2-bedroom apartment, $1,172 per month, and a 3-bedroom apartment is $1,464 per month.
The average rent in Rapid City is 35.2% ($630) lower than the national average of $1,790 per month.
The average rent in Rapid City has decreased by 1.3% ($15) in the last month and increased by 4.4% ($49) over the past year.
The rental market in Rapid City, SD, is currently competitive, with strong renter demand causing quick leasing times for well-priced units.
In Rapid City, SD, the average rental stays on the market for approximately 29 days. While most properties are rented within this timeframe, factors like seasonality, demand, and property type can affect how quickly a rental leases.
There are currently 76 rental properties available in Rapid City, SD.
Based on the current averages, a household would need an annual income of $46,880 to comfortably afford a 2-bedroom apartment in Rapid City.
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