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.
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 people living in households.
There are renters living in 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 housing units in the Rapid City area. Of these, units are rental homes, making up percent of the housing market. For every renter household in Rapid City, South Dakota, there are 0.92 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 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 | |
| Public Housing | |
| Section 8 Project-Based Rental Assistance | |
| Section 811 Supportive Housing for Persons with Disabilities |
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.