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Rapid City, SD vs Meade County, SD
A 2-bedroom in Meade County costs $63 less per month than Rapid City ($1,273 vs $1,336). Median income is $71,985 in Rapid City and $74,161 in Meade County. That's a difference of $756 per year in housing costs.
Side-by-Side Comparison
| Metric | Rapid City | Meade County |
|---|---|---|
| Studio FMR | $921 | $878 |
| 1BR FMR | $1,018 | $970 |
| 2BR FMR | $1,336 | $1,273 |
| 3BR FMR | $1,743 | $1,770 |
| 4BR FMR | $2,178 | $2,136 |
| Median Income | $71,985 | $74,161 |
| Rent Burden | 22.3% | 20.6% |
| Actual Median Rent | $1,083 | $1,150 |
| Median Home Value | $274,200 | $274,800 |
| Population | 151K | 30K |
| Renter % | 29.1% | 27.3% |
| Vacancy Rate | 10.1% | 6.7% |
| Poverty Rate | 10.8% | 7.6% |
| Unemployment | - | 2.1% |
| YoY Change | +14.9% | +10.1% |
| Min Wage | $11.20/hr | $11.20/hr |
Income Required to Afford a 2-Bedroom
Rapid City, SD
Annual Income Needed
$53,440
Hourly Wage Needed
$26/hr
Min Wage Work Hours/Week
91.8 hrs
at $11.20/hr (SD min wage)
Meade County, SD
Annual Income Needed
$50,920
Hourly Wage Needed
$24/hr
Min Wage Work Hours/Week
87.4 hrs
at $11.20/hr (SD min wage)
Frequently Asked Questions
Meade County, SD is more affordable with a 2BR FMR of $1,273/mo, which is $63 less than Rapid City at $1,336/mo. However, when considering local incomes, Rapid City has a rent burden of 22.3% vs 20.6% in Meade County.
A 2-bedroom in Rapid City, SD costs $1,336/mo at Fair Market Rent, while in Meade County, SD it's $1,273/mo, a difference of $63/mo or $756/year.
To afford a 2BR without spending more than 30% of income on rent: Rapid City requires $53,440/year ($26/hr). Meade County requires $50,920/year ($24/hr).
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