Albany vs Rapid City
Fair Market Rent Comparison — HUD 2025 Data
Quick Answer
Albany is 45% cheaper for renters. A 2-bedroom rents for $577/mo vs $835/mo in Rapid City — saving $3,096/year.
Rent by Unit Size
| Unit Size | Albany | Rapid City | Difference |
|---|---|---|---|
| Studio | $407 | $574 | $167 |
| 1 Bedroom | $488 | $702 | $214 |
| 2 Bedrooms | $577 | $835 | $258 |
| 3 Bedrooms | $748 | $1,106 | $358 |
| 4 Bedrooms | $841 | $1,277 | $436 |
| Median Income | $39,279 | $44,904 | $5,625 |
Albany
- Studio
- $407/mo
- 1 BR
- $488/mo
- 2 BR
- $577/mo
- 3 BR
- $748/mo
- 4 BR
- $841/mo
- Median Income
- $39,279/yr
Rapid City
- Studio
- $574/mo
- 1 BR
- $702/mo
- 2 BR
- $835/mo
- 3 BR
- $1,106/mo
- 4 BR
- $1,277/mo
- Median Income
- $44,904/yr
Frequently Asked Questions
Is Albany or Rapid City cheaper to rent in?
Albany is cheaper — a 2-bedroom Fair Market Rent is $577/mo vs $835/mo in Rapid City. That's $258/mo or $3,096/year more expensive in Rapid City (45% higher).
What is the 2-bedroom rent in Albany vs Rapid City?
The HUD Fair Market Rent for a 2-bedroom in Albany is $577/month. In Rapid City, a 2-bedroom FMR is $835/month.
How do incomes compare between Albany and Rapid City?
The median household income in Albany is $39,279/year. In Rapid City it is $44,904/year. Rapid City has the higher median income.
What is the studio rent in Albany vs Rapid City?
A studio apartment Fair Market Rent in Albany is $407/mo. In Rapid City it is $574/mo.