Memphis vs Rapid City
Fair Market Rent Comparison — HUD 2025 Data
Quick Answer
Memphis is 2% cheaper for renters. A 2-bedroom rents for $819/mo vs $835/mo in Rapid City — saving $192/year.
Rent by Unit Size
| Unit Size | Memphis | Rapid City | Difference |
|---|---|---|---|
| Studio | $560 | $574 | $14 |
| 1 Bedroom | $682 | $702 | $20 |
| 2 Bedrooms | $819 | $835 | $16 |
| 3 Bedrooms | $1,011 | $1,106 | $95 |
| 4 Bedrooms | $1,184 | $1,277 | $93 |
| Median Income | $44,652 | $44,904 | $252 |
Memphis
- Studio
- $560/mo
- 1 BR
- $682/mo
- 2 BR
- $819/mo
- 3 BR
- $1,011/mo
- 4 BR
- $1,184/mo
- Median Income
- $44,652/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 Memphis or Rapid City cheaper to rent in?
Memphis is cheaper — a 2-bedroom Fair Market Rent is $819/mo vs $835/mo in Rapid City. That's $16/mo or $192/year more expensive in Rapid City (2% higher).
What is the 2-bedroom rent in Memphis vs Rapid City?
The HUD Fair Market Rent for a 2-bedroom in Memphis is $819/month. In Rapid City, a 2-bedroom FMR is $835/month.
How do incomes compare between Memphis and Rapid City?
The median household income in Memphis is $44,652/year. In Rapid City it is $44,904/year. Rapid City has the higher median income.
What is the studio rent in Memphis vs Rapid City?
A studio apartment Fair Market Rent in Memphis is $560/mo. In Rapid City it is $574/mo.