Cost of Living in Rapid City, SD
Updated November 2026 · Pennington County · Rapid City, SD metro area · population 77,946
Prices in Rapid City are 10.7% below the US average (local index 89.3; the BEA index for the Rapid City, SD metro area is 89.2), with local housing the biggest saving at 70.9; a single adult's modelled budget is about $2,337 a month and the median rent is $1,109.
Prices by category
CostLiving local estimate. 100 = US average; 110 means prices are 10% higher. Housing reflects Rapid City's own median rent compared with the area's average rent; goods, utilities and other services are BEA's official price parities for the Rapid City, SD metro area, unchanged.
Rapid City price index by category, US average = 100: All items 89.3, Housing (rents) 70.9, Goods 95.5, Utilities 79.1, Other services 91.9
Cheaper than 95% of the cities we cover.
| BEA index | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|
| All items | 92.4 | 94.2 | 92.0 | 90.6 | 90.3 | 89.2 |
Monthly budget by household type
1 adult · 1-bedroom · modelled estimate for Rapid City, SD
| Category | Per month | Per year | Share |
|---|---|---|---|
| Housing (rent) | $791 | $9,492 | 34% |
| Utilities | $221 | $2,652 | 9% |
| Food at home | $269 | $3,228 | 12% |
| Transportation | $575 | $6,900 | 25% |
| Health care | $323 | $3,876 | 14% |
| Clothing, personal care & supplies | $158 | $1,896 | 7% |
| Total | $2,337 | $28,044 | 100% |
2 adults · 2-bedroom · modelled estimate for Rapid City, SD
| Category | Per month | Per year | Share |
|---|---|---|---|
| Housing (rent) | $1,093 | $13,116 | 27% |
| Utilities | $351 | $4,212 | 9% |
| Food at home | $497 | $5,964 | 12% |
| Transportation | $1,138 | $13,656 | 29% |
| Health care | $599 | $7,188 | 15% |
| Clothing, personal care & supplies | $312 | $3,744 | 8% |
| Total | $3,990 | $47,880 | 100% |
2 adults + 2 children · 3-bedroom · modelled estimate for Rapid City, SD
| Category | Per month | Per year | Share |
|---|---|---|---|
| Housing (rent) | $1,203 | $14,436 | 25% |
| Utilities | $427 | $5,124 | 9% |
| Food at home | $709 | $8,508 | 15% |
| Transportation | $1,516 | $18,192 | 31% |
| Health care | $558 | $6,696 | 12% |
| Clothing, personal care & supplies | $402 | $4,824 | 8% |
| Total | $4,815 | $57,780 | 100% |
Modelled estimate of basic costs, excluding taxes, child care and savings. Housing is rent excluding tenant-paid utilities (counted under utilities). See how the budget is calculated.
Housing costs in Rapid City
Rent by number of bedrooms
| Size | Median rent |
|---|---|
| Studio | $660 |
| 1 bedroom | $873 |
| 2 bedrooms | $1,206 |
| 3 bedrooms | $1,328 |
| 4 bedrooms | $2,058 |
Median rent: Census ACS 2020-2024 median gross rent by bedrooms (rent plus tenant-paid utilities, all renters).
Rent, home values and affordability
| Measure | Value |
|---|---|
| Median gross rent | $1,109 |
| Median contract rent (excl. utilities) | $1,005 |
| Median home value | $299,400 |
| Owner costs with a mortgage | $1,743/mo |
| Median household income | $70,870 |
| Rent as % of renter income Expensive | 30.1% |
| Home value ÷ household income Moderate | 4.2× |
Census ACS 5-year 2020-2024.
Electricity and gas prices
Residential electricity in South Dakota
15.15¢ per kWh, August 2026
12-month change: +9.0% (from 13.90¢) · US 18.16¢
Average household uses 983 kWh a month in South Dakota ≈ $140/month. Source: EIA-861M (statewide average).
Regular gasoline regional figure: Midwest (PADD 2)
$4.10 per gallon, week of 2026-11-02
12-month change: +45.0% (from $2.83) · US $4.15
EIA weekly retail price survey; South Dakota is covered by the Midwest (PADD 2) average.
Inflation in the Midwest
Consumer prices in the Midwest Census region rose +4.2% in the 12 months to September 2026 (US +3.7%). Nationally, food at home changed +1.8%, shelter +3.2% and energy +20.4%. Source: BLS CPI-U, not seasonally adjusted. CPI is published for regions and large metro areas, so the regional figure is shown.
Salary equivalent
Because prices in Rapid City are 10.7% below the US average, $60,000 here has the buying power of about $67,200 in an average-priced US area.
Formula: US-equivalent = salary × 100 ÷ 89.3. Based on the local cost index (CostLiving estimate from BEA RPP and Census rents); taxes not included.
Cities with a similar cost of living
| City | Index | Budget (single) | Median rent |
|---|---|---|---|
| Owensboro, KY | 89.3 | $2,061 | $905 |
| Terre Haute, IN | 89.2 | $2,125 | $922 |
| Kingsport, TN | 89.2 | $2,061 | $907 |
| Jackson, MS | 89.3 | $2,226 | $1,055 |
| Tulsa, OK | 89.2 | $2,275 | $1,052 |
| Decatur, IL | 89.4 | $2,106 | $845 |
Compare Rapid City with another city
Frequently asked questions
Is Rapid City, SD an expensive place to live?
Rapid City has a local cost of living index of 89.3, which is 10.7% below the US average. This CostLiving estimate starts from the BEA Regional Price Parities 2024 for the Rapid City, SD metro area (89.2) and adjusts housing to Rapid City's own rents. It is 0.7 points above the South Dakota average. Cheaper than 95% of the cities we cover.
How much money do you need to live in Rapid City?
Our modelled estimate of basic monthly costs is $2,337 for a single adult, $3,990 for a couple and $4,815 for a family of four, before taxes, child care and savings. A $60,000 salary in an average-priced US area buys about the same as $53,600 in Rapid City.
What is the average rent in Rapid City?
The median gross rent (rent plus tenant-paid utilities) is $1,109 a month (Census ACS 2020-2024). By size: 1 bedroom $873, 2 bedrooms $1,206, 3 bedrooms $1,328. The typical renter spends 30.1% of household income on rent (expensive).
How much does a house cost in Rapid City?
The median owner-estimated home value is $299,400, 4.2 times the median household income of $70,870 (moderate). Owners with a mortgage pay a median $1,743 a month in housing costs.
How much is electricity and gas in Rapid City?
South Dakota residential electricity averaged 15.15¢ per kWh in August 2026 (US 18.16¢). Regular gasoline was $4.10 a gallon (Midwest (PADD 2) average, week of 2026-11-02).
Sources and notes
- Local cost index: CostLiving estimate from BEA Regional Price Parities 2024 for the Rapid City, SD metropolitan statistical area (BEA index 89.2) with housing from Census ACS median rent (city figure); see the methodology.
- Rents, home values, income, population: U.S. Census Bureau ACS 5-year 2020-2024, Census place 4652980 (Rapid City city).
- Electricity: EIA-861M, South Dakota residential average, August 2026.
- Gasoline: EIA weekly retail regular gasoline, Midwest (PADD 2), week of 2026-11-02.
- Inflation: BLS CPI-U Midwest region, September 2026.
- Budget baselines: BLS Consumer Expenditure Survey 2025; electricity use by household size: EIA RECS 2020.
- Gasoline price: regional figure (EIA publishes weekly prices for only 9 states).
Labels such as “county figure” or “state nonmetro figure” mark values that come from a larger area because the city-level figure is unavailable or unreliable. The monthly budget is a modelled estimate, not observed spending, and excludes taxes. This page is for general information and is not financial advice. Methodology · All sources