Rent in South Dakota
The median 2-bedroom Fair Market Rent in South Dakota is $1,173/mo, ranking #35 out of 51 states for highest rent. This is $77 below the national median of $1,250/mo. South Dakota has a population of 899K. About 31.4% of households rent their homes. Fair Market Rent data covers 5 areas across the state.
Highlights
All 5 Areas in South Dakota
| Area | Studio | 1BR | 2BR | 3BR | Burden | YoY |
|---|---|---|---|---|---|---|
| Rapid City Pop. 151K | $921 | $1,018 | $1,336 | $1,743 | 22.3% | +14.9% |
| Meade County Pop. 30K | $878 | $970 | $1,273 | $1,770 | 20.6% | +10.1% |
| Custer County Pop. 8.7K | $809 | $894 | $1,173 | $1,631 | 17.2% | - |
| Sioux Falls Pop. 293K | $865 | $986 | $1,156 | $1,586 | 17% | +10.9% |
| Sioux City Pop. 144K | $796 | $925 | $1,154 | $1,386 | 19.2% | +14.3% |
Frequently Asked Questions
The median 2-bedroom Fair Market Rent across South Dakota is $1,173 per month. Rents range from $1,154/mo in Sioux City to $1,336/mo in Rapid City. The actual median gross rent statewide is $912/mo according to Census data.
South Dakota ranks #35 out of 51 states for highest median Fair Market Rent. The state median 2BR FMR of $1,173/mo is $77 below the national median of $1,250/mo.
The average rent burden across South Dakota is 19.3%, meaning a typical household would spend 19.3% of income on a 2-bedroom at Fair Market Rent. No areas exceed HUD's 30% cost-burden threshold. The statewide median household income is $72,421.
The most affordable area in South Dakota is Sioux City with a 2-bedroom Fair Market Rent of $1,154/mo. The median household income there is $72,027.
The most expensive area in South Dakota is Rapid City with a 2-bedroom Fair Market Rent of $1,336/mo. The median household income there is $71,985.
Fair Market Rents represent the 40th percentile of gross rents for standard-quality rental units. State-level income and demographic data comes from the Census Bureau ACS 5-Year estimates. Rent burden is calculated as annual 2BR FMR divided by area median household income.