Rapid City, SD

Below Avg · 80

South Dakota · Population 76,836 · Updated March 2026

$1,053
Median Rent / Month
$65,712
Median Income
$270,000
Median Home Value
$1,132
Owner Costs / Month

Affordability

How far your income goes in Rapid City

19.2%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

Tax Burden in South Dakota

State-level tax rates that affect your costs

0%
Income Tax (Top Rate)
4.2%
Sales Tax
1.28%
Property Tax Rate

Estimated Annual Costs

$12,636
Annual Rent
$0
State Income Tax
$3,456
Property Tax (est.)

Cost of Living Overview

Rapid City is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 80 (where 100 equals the national median), Rapid City residents can expect to pay median rent of $1,053/month while earning a median household income of $65,712/year.

The median home value in Rapid City, SD is $270,000, with typical monthly owner costs around $1,132 including mortgage, insurance, and taxes. The median rent-to-income ratio of 19.2% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

South Dakota has no state income tax, which can represent significant savings compared to high-tax states. Combined with a 4.2% sales tax rate and 1.28% effective property tax rate, the overall tax environment helps keep costs manageable in Rapid City.

Frequently Asked Questions

Common questions about living costs in Rapid City

What is the cost of living in Rapid City, SD?
The cost of living index in Rapid City, SD is 80 (US average = 100). Median monthly rent is $1,053, median household income is $65,712/year, and the median home value is $270,000.
Is Rapid City, SD affordable?
Yes, Rapid City is more affordable than the national average with a cost index of 80. The rent-to-income ratio is 19.2%—below the 30% threshold considered affordable by HUD.
What is the average rent in Rapid City, SD?
The median gross rent in Rapid City, SD is $1,053 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $12,636.
What is the median household income in Rapid City?
The median household income in Rapid City, SD is $65,712 per year. This compares to the national median of approximately $80,000.
What are the taxes like in South Dakota?
South Dakota has a top income tax rate of 0%, a sales tax of 4.2%, and an effective property tax rate of 1.28%. Notably, there is no state income tax.