Spearfish, SD Rental Market Trends
Last updated: May 24, 2026 | Source: RentCafe Market Analysis, Yardi Matrix, U.S. Census Bureau
Highlights
The average rent for an apartment in Spearfish is $1,096, a 15.67% increase compared to the previous year, when the average rent was $947.
Two-beedroom units at $1,105 offer 830 square feet, perfect for roommates or small families.
Three-bedroom apartments deliver maximum space (1,134 sq ft) for $1,473, suitable for larger households.
Average rent in Spearfish, SD
| Average Rent | Average Apartment Size | |
|---|---|---|
| All Rentals | $1,096 | 843 sq. ft. |
| Studio | n/a | n/a |
| 1 Bed | n/a | n/a |
| 2 Beds | $1,105 | 830 sq. ft. |
| 3 Beds | $1,473 | 1,134 sq. ft. |
Spearfish, SD rent trends
Rental prices in Spearfish, SD have increased by 15.67% over the past year. The average rent moved from $947 to $1,096.
What's the typical rent budget in Spearfish, SD?
The largest share of rentals in Spearfish, SD (70%) fall between $1,001-$1,500 per month. This suggests that most people succesfully find suitable apartments within this price.
Do most people rent or own in Spearfish, SD?
2,987 or 50% of the households in Spearfish, SD are renter-occupied while 2,945 or 50% are owner-occupied.
How Spearfish Compares to Other Cities
| City | Average Rent |
|---|---|
| Spearfish | $1,096 |
| Sioux Falls | $1,159 |
| Black Hills | $1,359 |
| Rapid City | $1,319 |
| Aberdeen | $1,081 |
| Brookings | $1,227 |
| Tea | $1,068 |
| Vermillion | $1,474 |
| Casper, WY | $1,176 |
| Gillette, WY | $1,200 |
Where this data comes from
The rental statistics on this page were compiled by RentCafe.com, a nationwide apartment search website trusted by millions of renters to find apartments and houses for rent throughout the U.S.
Rent prices, trends, and apartment sizes were calculated based on data from our sister company, Yardi Matrix, an apartment market intelligence solution that covers approximately 90% of the U.S. metro area population. The data includes comprehensive information on all Spearfish apartment buildings with 50 or more units, totaling 23.5 million apartments across 181 U.S. markets.
Housing composition data was sourced from the U.S. Census Bureau, using the most recently available information by tenure.