Fargo 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 $913/mo in Fargo — saving $936/year.
Rent by Unit Size
| Unit Size | Fargo | Rapid City | Difference |
|---|---|---|---|
| Studio | $577 | $574 | $3 |
| 1 Bedroom | $717 | $702 | $15 |
| 2 Bedrooms | $913 | $835 | $78 |
| 3 Bedrooms | $1,145 | $1,106 | $39 |
| 4 Bedrooms | $1,249 | $1,277 | $28 |
| Median Income | $45,978 | $44,904 | $1,074 |
Fargo
- Studio
- $577/mo
- 1 BR
- $717/mo
- 2 BR
- $913/mo
- 3 BR
- $1,145/mo
- 4 BR
- $1,249/mo
- Median Income
- $45,978/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 Fargo or Rapid City cheaper to rent in?
Rapid City is cheaper — a 2-bedroom Fair Market Rent is $835/mo vs $913/mo in Fargo. That's $78/mo or $936/year more expensive in Fargo (9% higher).
What is the 2-bedroom rent in Fargo vs Rapid City?
The HUD Fair Market Rent for a 2-bedroom in Fargo is $913/month. In Rapid City, a 2-bedroom FMR is $835/month.
How do incomes compare between Fargo and Rapid City?
The median household income in Fargo is $45,978/year. In Rapid City it is $44,904/year. Fargo has the higher median income.
What is the studio rent in Fargo vs Rapid City?
A studio apartment Fair Market Rent in Fargo is $577/mo. In Rapid City it is $574/mo.