Anchorage vs Rapid City
Fair Market Rent Comparison — HUD 2025 Data
Quick Answer
Rapid City is 39% cheaper for renters. A 2-bedroom rents for $835/mo vs $1,162/mo in Anchorage — saving $3,924/year.
Rent by Unit Size
| Unit Size | Anchorage | Rapid City | Difference |
|---|---|---|---|
| Studio | $795 | $574 | $221 |
| 1 Bedroom | $960 | $702 | $258 |
| 2 Bedrooms | $1,162 | $835 | $327 |
| 3 Bedrooms | $1,475 | $1,106 | $369 |
| 4 Bedrooms | $1,674 | $1,277 | $397 |
| Median Income | $75,443 | $44,904 | $30,539 |
Anchorage
- Studio
- $795/mo
- 1 BR
- $960/mo
- 2 BR
- $1,162/mo
- 3 BR
- $1,475/mo
- 4 BR
- $1,674/mo
- Median Income
- $75,443/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 Anchorage or Rapid City cheaper to rent in?
Rapid City is cheaper — a 2-bedroom Fair Market Rent is $835/mo vs $1,162/mo in Anchorage. That's $327/mo or $3,924/year more expensive in Anchorage (39% higher).
What is the 2-bedroom rent in Anchorage vs Rapid City?
The HUD Fair Market Rent for a 2-bedroom in Anchorage is $1,162/month. In Rapid City, a 2-bedroom FMR is $835/month.
How do incomes compare between Anchorage and Rapid City?
The median household income in Anchorage is $75,443/year. In Rapid City it is $44,904/year. Anchorage has the higher median income.
What is the studio rent in Anchorage vs Rapid City?
A studio apartment Fair Market Rent in Anchorage is $795/mo. In Rapid City it is $574/mo.