Rapid City, SD vs Sioux City, SD
A 2-bedroom in Sioux City costs $182 less per month than Rapid City ($1,154 vs $1,336). Median income is $71,985 in Rapid City and $72,027 in Sioux City. That's a difference of $2,184 per year in housing costs.
Rapid City, South Dakota 2-bedroom FMR is $182 above Sioux City, South Dakota — a meaningful 16-percent premium. Differences of this size are usually structural rather than transient, reflecting permanent differences in housing supply, labor-market scale, or zoning.
For households weighing a move between the two counties, the FMR gap is one input among several. Cost-of-living adjustments cover housing well but undercount the income-side picture; local wages can offset rent differences, particularly in higher-paying coastal metros where the higher rent comes with higher pay.
Side-by-Side Comparison
| Metric | Rapid City | Sioux City |
|---|---|---|
| Studio FMR | $921 | $796 |
| 1BR FMR | $1,018 | $925 |
| 2BR FMR | $1,336 | $1,154 |
| 3BR FMR | $1,743 | $1,386 |
| 4BR FMR | $2,178 | $1,528 |
| Median Income | $71,985 | $72,027 |
| Rent Burden | 22.3% | 19.2% |
| Actual Median Rent | $1,083 | $968 |
| Median Home Value | $274,200 | $179,100 |
| Population | 151K | 144K |
| Renter % | 29.1% | 31.7% |
| Vacancy Rate | 10.1% | 5.9% |
| Poverty Rate | 10.8% | 12.3% |
| YoY Change | +14.9% | +14.3% |
| Min Wage | $11.20/hr | $11.20/hr |
Income Required to Afford a 2-Bedroom
Frequently Asked Questions
Sioux City, SD is more affordable with a 2BR FMR of $1,154/mo, which is $182 less than Rapid City at $1,336/mo. However, when considering local incomes, Rapid City has a rent burden of 22.3% vs 19.2% in Sioux City.
A 2-bedroom in Rapid City, SD costs $1,336/mo at Fair Market Rent, while in Sioux City, SD it's $1,154/mo, a difference of $182/mo or $2,184/year.
To afford a 2BR without spending more than 30% of income on rent: Rapid City requires $53,440/year ($26/hr). Sioux City requires $46,160/year ($22/hr).
Source: HUD Fair Market Rents, 2026.