Average Rent in Rapid City, SD

Rapid City rentals average $445 for a studio rental to $2,250 for a 4-bedroom rental. The median price of all currently available listings is $1,200, or roughly $13 per square feet.

For the apartment units and housing in October 2026, median rents have been roughly unchanged over the last year. Studio rentals prices have decreased by $15 (-3.26%) year-over-year from $460 to $445. 1-bedroom rentals prices have increased by $32 (3.54%) year-over-year from $893 to $925. 2-bedroom rentals prices have decreased by $37 (-3.46%) year-over-year from $1,059 to $1,023. 3-bedroom rentals prices have increased by $17 (0.90%) year-over-year from $1,848 to $1,865. 4-bedroom rentals prices have increased by $311 (14.20%) year-over-year from $2,189 to $2,500. Note that this figure includes all active and rented listings throughout the month.

Month-to-month, seasonality might have a bigger impact than overall trend price changes. Studio rents have gone down by 28.61% this month. 1-bedroom rents have gone up by 5.82% this month. 2-bedroom rents have gone up by 2.16% this month. 3-bedroom rents have gone down by 5.61% this month. 4-bedroom rents have gone up by 12.36% this month.