Madison vs Rapid City
Fair Market Rent Comparison — HUD 2025 Data
Quick Answer
Rapid City is 24% cheaper for renters. A 2-bedroom rents for $835/mo vs $1,038/mo in Madison — saving $2,436/year.
Rent by Unit Size
| Unit Size | Madison | Rapid City | Difference |
|---|---|---|---|
| Studio | $676 | $574 | $102 |
| 1 Bedroom | $827 | $702 | $125 |
| 2 Bedrooms | $1,038 | $835 | $203 |
| 3 Bedrooms | $1,222 | $1,106 | $116 |
| 4 Bedrooms | $1,400 | $1,277 | $123 |
| Median Income | $64,691 | $44,904 | $19,787 |
Madison
- Studio
- $676/mo
- 1 BR
- $827/mo
- 2 BR
- $1,038/mo
- 3 BR
- $1,222/mo
- 4 BR
- $1,400/mo
- Median Income
- $64,691/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 Madison or Rapid City cheaper to rent in?
Rapid City is cheaper — a 2-bedroom Fair Market Rent is $835/mo vs $1,038/mo in Madison. That's $203/mo or $2,436/year more expensive in Madison (24% higher).
What is the 2-bedroom rent in Madison vs Rapid City?
The HUD Fair Market Rent for a 2-bedroom in Madison is $1,038/month. In Rapid City, a 2-bedroom FMR is $835/month.
How do incomes compare between Madison and Rapid City?
The median household income in Madison is $64,691/year. In Rapid City it is $44,904/year. Madison has the higher median income.
What is the studio rent in Madison vs Rapid City?
A studio apartment Fair Market Rent in Madison is $676/mo. In Rapid City it is $574/mo.