Cheyenne vs Rapid City
Fair Market Rent Comparison — HUD 2025 Data
Quick Answer
Rapid City is 9% cheaper for renters. A 2-bedroom rents for $835/mo vs $906/mo in Cheyenne — saving $852/year.
Rent by Unit Size
| Unit Size | Cheyenne | Rapid City | Difference |
|---|---|---|---|
| Studio | $586 | $574 | $12 |
| 1 Bedroom | $741 | $702 | $39 |
| 2 Bedrooms | $906 | $835 | $71 |
| 3 Bedrooms | $1,120 | $1,106 | $14 |
| 4 Bedrooms | $1,322 | $1,277 | $45 |
| Median Income | $46,984 | $44,904 | $2,080 |
Cheyenne
- Studio
- $586/mo
- 1 BR
- $741/mo
- 2 BR
- $906/mo
- 3 BR
- $1,120/mo
- 4 BR
- $1,322/mo
- Median Income
- $46,984/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 Cheyenne or Rapid City cheaper to rent in?
Rapid City is cheaper — a 2-bedroom Fair Market Rent is $835/mo vs $906/mo in Cheyenne. That's $71/mo or $852/year more expensive in Cheyenne (9% higher).
What is the 2-bedroom rent in Cheyenne vs Rapid City?
The HUD Fair Market Rent for a 2-bedroom in Cheyenne is $906/month. In Rapid City, a 2-bedroom FMR is $835/month.
How do incomes compare between Cheyenne and Rapid City?
The median household income in Cheyenne is $46,984/year. In Rapid City it is $44,904/year. Cheyenne has the higher median income.
What is the studio rent in Cheyenne vs Rapid City?
A studio apartment Fair Market Rent in Cheyenne is $586/mo. In Rapid City it is $574/mo.