Laredo vs Rapid City
Fair Market Rent Comparison — HUD 2025 Data
Quick Answer
Laredo is 20% cheaper for renters. A 2-bedroom rents for $698/mo vs $835/mo in Rapid City — saving $1,644/year.
Rent by Unit Size
| Unit Size | Laredo | Rapid City | Difference |
|---|---|---|---|
| Studio | $463 | $574 | $111 |
| 1 Bedroom | $552 | $702 | $150 |
| 2 Bedrooms | $698 | $835 | $137 |
| 3 Bedrooms | $851 | $1,106 | $255 |
| 4 Bedrooms | $966 | $1,277 | $311 |
| Median Income | $40,343 | $44,904 | $4,561 |
Laredo
- Studio
- $463/mo
- 1 BR
- $552/mo
- 2 BR
- $698/mo
- 3 BR
- $851/mo
- 4 BR
- $966/mo
- Median Income
- $40,343/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 Laredo or Rapid City cheaper to rent in?
Laredo is cheaper — a 2-bedroom Fair Market Rent is $698/mo vs $835/mo in Rapid City. That's $137/mo or $1,644/year more expensive in Rapid City (20% higher).
What is the 2-bedroom rent in Laredo vs Rapid City?
The HUD Fair Market Rent for a 2-bedroom in Laredo is $698/month. In Rapid City, a 2-bedroom FMR is $835/month.
How do incomes compare between Laredo and Rapid City?
The median household income in Laredo is $40,343/year. In Rapid City it is $44,904/year. Rapid City has the higher median income.
What is the studio rent in Laredo vs Rapid City?
A studio apartment Fair Market Rent in Laredo is $463/mo. In Rapid City it is $574/mo.