Rapid City vs Richmond
Fair Market Rent Comparison — HUD 2025 Data
Quick Answer
Rapid City is 22% cheaper for renters. A 2-bedroom rents for $835/mo vs $1,021/mo in Richmond — saving $2,232/year.
Rent by Unit Size
| Unit Size | Rapid City | Richmond | Difference |
|---|---|---|---|
| Studio | $574 | $669 | $95 |
| 1 Bedroom | $702 | $842 | $140 |
| 2 Bedrooms | $835 | $1,021 | $186 |
| 3 Bedrooms | $1,106 | $1,317 | $211 |
| 4 Bedrooms | $1,277 | $1,453 | $176 |
| Median Income | $44,904 | $69,914 | $25,010 |
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
Richmond
- Studio
- $669/mo
- 1 BR
- $842/mo
- 2 BR
- $1,021/mo
- 3 BR
- $1,317/mo
- 4 BR
- $1,453/mo
- Median Income
- $69,914/yr
Frequently Asked Questions
Is Rapid City or Richmond cheaper to rent in?
Rapid City is cheaper — a 2-bedroom Fair Market Rent is $835/mo vs $1,021/mo in Richmond. That's $186/mo or $2,232/year more expensive in Richmond (22% higher).
What is the 2-bedroom rent in Rapid City vs Richmond?
The HUD Fair Market Rent for a 2-bedroom in Rapid City is $835/month. In Richmond, a 2-bedroom FMR is $1,021/month.
How do incomes compare between Rapid City and Richmond?
The median household income in Rapid City is $44,904/year. In Richmond it is $69,914/year. Richmond has the higher median income.
What is the studio rent in Rapid City vs Richmond?
A studio apartment Fair Market Rent in Rapid City is $574/mo. In Richmond it is $669/mo.