Housing market/South Dakota/ZIP 57703
ZIP 57703 Rapid City, South Dakota
Rapid City, SD HUD Metro FMR Area · South Dakota. Census housing stock, renter economics, HUD SAFMR, LIHTC, and population change. Not a listing page and not a buy/sell score.
ZIP brief
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HUD schedule, ACS stock, and the 90–110% band for ZIP 57703 · SD — sent to you.
ZIP 57703 · SD
ACS rent vs 2BR SAFMR
ZIP 57703 — Rapid City, SD HUD Section 8 Payment Standards / SAFMR →ACS median is all-bedroom occupied rent. SAFMR is the 2-bedroom HCV benchmark.
Housing stock
ACS 2023 units-in-structure · ZCTA 57703
- 1-unit detached5,20869.7%
- 1-unit attached3594.8%
- 2–4 units901.2%
- 5–49 units5307.1%
- Mobile1,28917.2%
2–4 unit share 1.2% · 5–49 unit share 7.1% · combined 2–49 8.3%.
Units by bedrooms
Rent burden
- ACS median gross rent $1,394 (all bedrooms, occupied rentals).
- Median contract rent $1,260.
- Renters paying ≥30% of income 43.9%; ≥50% 16.6%.
- FY2027 2BR SAFMR $1,750 (1.255× ACS median gross rent).
Population
17,543 residents · ACS 2023
Change versus the 2018 ACS 5-year estimate: +7.7%.
ACS 5-year estimates lag current construction. This is not a forecast.
Assisted inventory
- LIHTC: 2 projects, 102 units.
- HUD project-based assisted MF: 1 properties, 4 assisted units.
- HCV household counts (Picture of Subsidized Households) are not on this page yet.
New apartment permits
About 80 new apartments in 5+ unit buildings may have been permitted in this ZIP’s share of the county. That is units (doors), not a building count.
Cities and counties report building permits to the Census. Apartment counts are for the whole county, not a project list in this ZIP.
What the data shows
ZIP 57703 14.0% of occupied households are renters; vacancy is 8.3%; ACS median gross rent is $1,394; population increased +7.7% between the 2018 and 2023 ACS vintages; the housing stock includes 90 units in 2–4-unit structures and 530 units in 5–49-unit structures; 2 LIHTC projects totaling 102 units; FY2027 2BR SAFMR is $1,750 versus ACS median gross rent of $1,394. These figures describe the underlying housing market, not the cash flow of any one property. Asking rents, expenses, condition, taxes, insurance, and the rent roll have to be underwritten separately.
South Dakota research
ZIP 57703 is a Census / HUD profile for Rapid City, SD. Not a listing page. Brokerage is Georgia; out-of-state work is referral.
ZIP 57703 — Rapid City, SD HUD Section 8 Payment Standards / SAFMR·South Dakota ZIP directory
Nearby ZIPs in this FMR area
Census ZIP areas approximate mail ZIPs. Sources: Census ACS 5-year 2023, HUD FY2027 Small Area FMR, HUD LIHTC and assisted multifamily lists, Census building permits (county). This page is South Dakota research. Brokerage is Georgia.
FAQ
What is the housing market like in ZIP 57703?
ZIP 57703 (Rapid City, SD HUD Metro FMR Area) has 17,543 residents, 6,853 households, a renter share of 14.0%, median household income of $84,495, and ACS 2023 median gross rent of $1,394. Vacancy is 8.3%. These are ZCTA estimates, not a property rent roll.
How much small multifamily housing is in 57703?
ACS counts 16 units in 2-unit buildings, 74 in 3–4 unit buildings, 136 in 5–9, 322 in 10–19, and 72 in 20–49. Combined 2–49 unit stock is 620 units. This is occupied-and-vacant stock, not listings for sale.
What is the Section 8 rent in 57703?
The Housing Choice Voucher benchmark is the FY2027 Small Area FMR. 2-bedroom SAFMR is $1,750. See the full schedule and 90–110% payment-standard band on the ZIP 57703 — Rapid City, SD HUD Section 8 Payment Standards / SAFMR.
Does this South Dakota ZIP profile include Georgia listings?
No. ZIP 57703 is Census / HUD research for Rapid City, SD HUD Metro FMR Area. Jeff Crowe CRE does not list South Dakota property. Licensed brokerage is Georgia. If you use this stock table and then buy in Georgia, live FMLS Residential Income is on multifamily for sale in Georgia.