Low Income Apartments and Affordable Housing For Rent in Rapid City, SD

Discover affordable housing in Rapid City where there are 48+ housing opportunities based on income and household needs like accessible units for seniors or persons with disabilities. Find and apply to these low income apartments now.

Rapid Creek

1158 Anamosa St , Rapid City, South Dakota 57701

Maplewood Apartments

5 E Knollwood Drive, Rapid City, South Dakota 57701

Pine Crest Village

721 Eldene Ln , Rapid City, South Dakota 57701

Edgewood Estates

721 Eldene Ln , Rapid City, South Dakota 57701

Eagle Ridge

121 Stumer Rd , Rapid City, South Dakota 57701

Whisper Rock Apartments

4216 Berniece Street, Rapid City, South Dakota 57703

Denver Terrace Apartments

110 Denver St, Rapid City, South Dakota 57701

Northern Heights

914 Explorer St , Rapid City, South Dakota 57104

Driftwood Estates

428 E Fairlane Dr , Rapid City, South Dakota 57701

Knollwood Heights

100 Surfwood Dr Apt 13 , Rapid City, South Dakota 57701

Meadow Ridge Apartments

5635 Meadow Ridge Drive, Rapid City, South Dakota 57703

I - 90 Pleasant Hill Village

1714 N 7th St, Rapid City, South Dakota 57701

Cedar Ridge Townhouses

4302 Cedar Ridge Pl, Rapid City, South Dakota 57702

Echo Glen Apartments

4243 Wisconsin Ave., Rapid City, South Dakota 57702

Sage View Glen Apartments

201 E. Minnesota St., Rapid City, South Dakota 57701

Discovery Village

1075 Anamosa St, Rapid City, South Dakota 57701

Indiana Home

232 E Indiana St, Rapid City, South Dakota 57701

Galaxy Apartments

1820 Galaxy Dr, Rapid City, South Dakota 57701

Lakota Community Homes

719 Wambli Dr, Rapid City, South Dakota 57701

West Park

1018 11th St, Rapid City, South Dakota 57701

calendar_today Opened: Sep 1
Open Until Further Notice

Reported On February 23rd, 2024 by Nathan Brunet

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Rapid City, South Dakota
$22.03/hour
$10.83 (+97%) more than South Dakota minimum wage and $14.78 (+204%) more than the Federal minimum wage.
Learn More About Rapid City, South Dakota Affordable Housing ↓

What HUD offices serve Rapid City, South Dakota?

Public Housing Agencies operate federally assisted affordable housing programs at local levels on behalf of HUD. Notably, housing agencies are responsible for managing Section 8 Housing Choice Voucher, Public Housing, and Project-Based Voucher waiting lists within their jurisdiction.

Operates the Section 8 Housing Choice Voucher (HCV), Public Housing programs for Rapid City, South Dakota.

Go to the South Dakota Public Housing and Low-Income Apartments Waiting Lists page for openings near Rapid City.

How many renters live in Rapid City, South Dakota?

The City of Rapid City has 78,833 people living in 33,411 households.

There are 28,244 renters living in 14,284 renter households in this City. Renters make up 35.83 percent of the population living in Rapid City.

What is the rental market like in Rapid City, South Dakota?

There are an estimated 34,127 housing units in the Rapid City area. Of these, 13,093 units are rental homes, making up 38 percent of the housing market. For every renter household in Rapid City, South Dakota, there are 1 rental units.

What is the vacancy rate for rentals in Rapid City?

The rental vacancy rate in Rapid City is 6 percent. This is a lower than average vacancy rate. When rental vacancy rates are low there are fewer available units. Rents tend to be higher as more people compete for scarce housing.

How many rental units are in Rapid City for each bedroom size?

Occupied Rental Units by Size in Rapid City
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
1,080 3,802 7,110 1,899 332
Occupied Rental Units by Size in Rapid City

A large number of apartments in Rapid City have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.

How many renter households in Rapid City are overburdened by housing costs?

Among renter households in this market, 50 percent have housing cost burden. Further, 20 percent of households are extremely rent overburdened. When renters pay too much for their housing, it leaves little money for other necessities like food, clothes, or medicine.

The federal government says that renters are cost-burdened if they pay more than a third of their monthly income for rent and utilities.

How Much Is Rent in Rapid City

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $788 to $1,781. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $788
One BR $886
Two BR $1,163
Three BR $1,592
Four BR $1,781
2024 Fair Market Rents in Rapid City, South Dakota

How many units are rented at Fair Market Rent (FMR) in Rapid City?

Renters with a Section 8 Housing Choice Voucher must select a home that is at or below the area’s Fair Market Rent. Markets with a large share of units above FMR tend to have longer search times to find a qualified unit, while those with a large share of units below FMR tend to have more choices and shorter search times. The share below FMR can vary by size of unit, as shown in the table below.

These are the approximate number of units renting below the FMR in this market:

Unit Size Count of Units Below FMR Percentage of Total Units Below FMR
Studio 849 79 percent
One BR 2,355 62 percent
Two BR 4,027 57 percent
Rental Units Below FMR in Rapid City, South Dakota

How many affordable rental units are in Rapid City?

There are a variety of federal affordable housing programs serving households in Rapid City, South Dakota including the following:

Federal Program Unit Count
Low Income Housing Tax Credit 1,166
Public Housing 472
Section 8 Project-Based Rental Assistance 867
Section 811 Supportive Housing for Persons with Disabilities 19
Tracked Units by Federal Program in Rapid City, South Dakota

Rental units may be funded in part by multiple federal programs.

Income Based Apartments in Rapid City, South Dakota

Rapid City features 1,335 income based apartments. Tenants of income based apartments typically pay no more than 30% of their income towards rent and utilities.

Low Rent Apartments in Rapid City, South Dakota

There are 950 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Rapid City.

Housing Choice Vouchers in Rapid City, South Dakota

On average, Section 8 Housing Choice vouchers pay Rapid City landlords $500 per month towards rent. The average voucher holder contributes $300 towards rent in Rapid City.

The maximum amount a voucher would pay on behalf of a low-income tenant in Rapid City, South Dakota for a two-bedroom apartment is between $1,047 and $1,279.

Sourced from federal housing data and AffordableHousingOnline.com research.