Metro FMR area · SD · HUD FY 2027

Rapid City, SD Fair Market Rent

HUD’s FY 2027 Fair Market Rent for a 2-bedroom in the Rapid City, SD area is $1,430 a month, 20% above the South Dakota average and 19% below the U.S. average of $1,761. ZIP-level Small Area FMRs for its 22 ZIP codes range from $1,210 to $1,820.

$1,4302-bedroom FMR+$94 (+7.0%) vs FY 2026
$1,0931-bedroom FMRU.S.: $1,478
$57,200Income for a 2-bedroomat 30% of income
113,512Residents1 county

Can you afford the Fair Market Rent here?

Uses the common 30%-of-gross-income guideline. Results update as you type and stay in your browser.

Household income ($ per year, before tax)

Default: the income a 2-bedroom here needs at 30%.

Unit size

Rent you can afford at 30% of income$1,430/month

2-bedroom Fair Market Rent and the income it needs
Area	Fair Market Rent	Income needed	Share of your income
Rapid City, SD FMR	$1,430	$57,200	–
South Dakota average	$1,187	$47,495	–
U.S. average	$1,761	$70,432	–

Rapid City, SD Fair Market Rents, FY 2027 vs FY 2026
Unit	Rapid City, SD FY 2027	FY 2026	Change	South Dakota avg	U.S. avg	Income needed
Studio	$996	$921	+$75 (+8.1%)	$862	$1,379	$39,840
1 bedroom	$1,093	$1,018	+$75 (+7.4%)	$958	$1,478	$43,720
2 bedrooms	$1,430	$1,336	+$94 (+7.0%)	$1,187	$1,761	$57,200
3 bedrooms	$1,833	$1,743	+$90 (+5.2%)	$1,579	$2,266	$73,320
4 bedrooms	$2,390	$2,178	+$212 (+9.7%)	$1,926	$2,607	$95,600

Counties in this FMR area

Counties in the Rapid City, SD FMR area
County	Residents in area
Pennington County, SD	113,512

Small Area FMRs by ZIP code

Small Area FMRs apply to Housing Choice Vouchers where HUD requires them or the housing authority opts in; otherwise the metro FMR above applies. The median ZIP’s 2-bedroom SAFMR is $1,410.

Filter ZIP codes

FY 2027 Small Area Fair Market Rents, Rapid City, SD
ZIP	Studio	1BR	2BR	3BR	4BR	2BR vs FY 2026	2BR vs area FMR
57553	$830	$920	$1,210	$1,570	$1,970	+$200 (+19.8%)	15% below
57701	$910	$1,000	$1,310	$1,680	$2,190	+$110 (+9.2%)	8% below
57702	$1,060	$1,170	$1,530	$1,960	$2,550	+$120 (+8.5%)	7% above
57703	$1,220	$1,340	$1,750	$2,240	$2,930	+$50 (+2.9%)	22% above
57706	$1,270	$1,390	$1,820	$2,470	$3,040	+$50 (+2.8%)	27% above
57709	$1,000	$1,090	$1,430	$1,830	$2,390	+$90 (+6.7%)	same
57718	$870	$960	$1,250	$1,730	$2,100	+$20 (+1.6%)	13% below
57719	$1,080	$1,180	$1,550	$2,030	$2,590	+$150 (+10.7%)	8% above
57725	$990	$1,090	$1,420	$1,850	$2,370	+$80 (+6.0%)	1% below
57730	$860	$950	$1,240	$1,710	$2,070	+$70 (+6.0%)	13% below
57732	$830	$920	$1,210	$1,570	$1,970	+$200 (+19.8%)	15% below
57744	$990	$1,090	$1,420	$1,940	$2,370	+$140 (+10.9%)	1% below
57745	$1,000	$1,100	$1,440	$1,850	$2,410	+$140 (+10.8%)	1% above
57750	$830	$920	$1,210	$1,570	$1,970	+$200 (+19.8%)	15% below
57751	$980	$1,080	$1,410	$1,870	$2,350	+$400 (+39.6%)	1% below
57754	$830	$920	$1,210	$1,570	$1,970	+$200 (+19.8%)	15% below
57761	$830	$920	$1,210	$1,600	$1,970	+$150 (+14.2%)	15% below
57767	$830	$920	$1,210	$1,600	$1,970	+$150 (+14.2%)	15% below
57775	$830	$920	$1,210	$1,570	$1,970	+$200 (+19.8%)	15% below
57780	$1,000	$1,090	$1,430	$1,830	$2,390	+$90 (+6.7%)	same
57790	$1,000	$1,090	$1,430	$1,830	$2,390	+$420 (+41.6%)	same
57791	$980	$1,070	$1,400	$1,850	$2,340	+$90 (+6.9%)	2% below

Sources

U.S. Department of Housing and Urban Development, HUD User Fair Market Rents: FY 2027 FMRs (file dated August 26, 2026) and FY 2026 FMRs (file dated April 21, 2026).
HUD User Small Area Fair Market Rents: FY 2027 SAFMRs (file dated August 31, 2026) and FY 2026 SAFMRs (file dated April 21, 2026).

Fair Market Rents are HUD’s estimate of gross rent (rent plus utilities) for a modest unit, set at the 40th percentile of recent-mover rents. FY 2027 is HUD’s fiscal year beginning October 1, 2026. Housing authorities set voucher payment standards from these figures; check yours.