Key Economic Benchmarks
Median Household Income
$74,517$6,210 per month · U.S. Census Bureau ACS 5-YearFair market rent & 30% rule in Pennington County, SD
Official HUD Fair Market Rents evaluated against local household income benchmarks.
2026 HUD Fair Market Rent Schedule: Pennington County, SD
Official FY2026 HUD Fair Market Rents for Rapid City, SD HUD Metro FMR Area. Under the federal 30% housing affordability standard, housing costs are sustainable when they consume 30% or less of gross household income.
| Unit Size | Monthly Rent | Annual Rent | 30% Rule Min. Income | % of Median Income |
|---|---|---|---|---|
| Studio / Efficiency | $921 | $11,052 | $36,840 | 14.8% |
| 1-Bedroom Apartment | $1,018 | $12,216 | $40,720 | 16.4% |
| 2-Bedroom ApartmentBenchmark | $1,336 | $16,032 | $53,440 | 21.5% |
| 3-Bedroom Home | $1,743 | $20,916 | $69,720 | 28.1% |
| 4-Bedroom Home | $2,178 | $26,136 | $87,120 | 35.1% |
50/30/20 Living Budget in Pennington County, SD
Based on the local median household income of $74,517/year ($6,210/month), here is how a balanced budget allocates expenses:
Take-Home Pay & Tax Explorer in South Dakota
Explore net income after federal income tax, FICA, and South Dakota state income tax based on the local median baseline.
Related Regional & Financial Profiles
Compare earnings and living costs across South Dakota with official federal datasets:
Frequently Asked Questions About Living in Pennington County, SD
What is the median household income in Pennington County, SD?
According to the latest U.S. Census Bureau ACS 5-Year survey, the median household income in Pennington County, SD is $74,517 per year (approximately $6,210 per month).
What is the average rent in Pennington County, SD?
According to HUD Fair Market Rent (FMR) benchmarks for 2026, standard monthly rents in Pennington County, SD are $921 for a studio, $1,018 for 1 bedroom, $1,336 for 2 bedrooms, $1,743 for 3 bedrooms, and $2,178 for 4 bedrooms.
How does the cost of living in Pennington County, SD compare to the national average?
Based on the Bureau of Economic Analysis (BEA) Regional Price Parity index, the general price level in Pennington County, SD is 89.2 (10.8% lower than the U.S. national baseline of 100.0).
How much do you need to earn to comfortably afford rent in Pennington County, SD?
Under the standard 30% housing affordability standard, renting a median 2-bedroom home ($1,336/month) in Pennington County, SD requires a minimum gross household income of $53,440 per year ($4,453 per month).
What is a balanced 50/30/20 monthly budget in Pennington County, SD?
For a typical household earning the median income of $74,517/year ($6,210/month) in Pennington County, SD, a balanced 50/30/20 budget allocates $3,105/month to essential needs (rent, utilities, groceries), $1,863/month to discretionary spending, and $1,242/month to savings and debt repayment.
What are typical electricity and utility costs in Pennington County, SD?
Residential electricity rates in South Dakota average 15.4¢ per kWh according to the U.S. Energy Information Administration (EIA). For an average home using 900 kWh per month, the estimated electric bill is approximately $138 per month.