Cheap Apartments for Rent in Hot Springs, SD from $500 (36 Rentals)

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Search the lowest-cost Apartments available for rent right now in Hot Springs.

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RC Springs Apartments
1 to 2 Bedroom Apartments

RC Springs Apartments

108 S 23rd StHot Springs, SD 57747
  • Utilities Included
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Mesa Flats
Studio to 1 Bedroom Apartments

Mesa Flats

1145 Sherman StHot Springs, SD 57747
  • Utilities Included

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.

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Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.

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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

When searching for a roommate, follow this list of essential steps and set clear expectations to create a solid foundation for a harmonious living situation.

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318 National St
1 to 2 Bedroom Apartments

318 National St

318 National StRapid City, SD 57702
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KC Lofts
1 to 2 Bedroom Apartments

KC Lofts

18 E Kansas City StRapid City, SD 57701
Corporate Housing

The Art of the Rental Viewing: What to look for during a property tour

Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

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Showing Results 1-36, Page 1 of 1

Hot Springs, SD Local Guide

Cheapest Available Hot Springs Apartments for Rent and Nearby

 

The cheapest available apartment rental in Hot Springs, SD is a 1 Bed unit found at Bridgewood Estates priced from $900. Ponderosa Apartments has the second lowest priced unit, which is a Studio apartment currently listed from $925. Here is today’s list of the most affordable Hot Springs apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Bridgewood EstatesOpen living space + spacious master *WAITLIST*1BR,1BA$900
Ponderosa ApartmentsStudio UnitsStudio,1BA$925
Enchanted PinesStudioStudio,1BA$950
Moonlight Apartment ComplexStudioStudio,1BA$995
318 National St2/12BR,1BA$995
Johnson Ranch ApartmentsStudioStudio,1BA$1,000
Candlewood ApartmentsStudioStudio,1BA$1,005
Copper Ridge ApartmentsAStudio,1BA$1,025
Canyon Lake ApartmentsB12BR,1BA$1,065
BG Flats Apartments1 Bedroom 1 Bathroom Apartment1BR,1BA$1,075

Best Value Apartments for Rent in Hot Springs, SD and Nearby

As of May 01, 2026 the best value apartment in the Hot Springs area is the $1.27 price per square foot 3 Beds, 2 baths Model at Stonegate Community in the starting from $1,495. The second greatest value Hot Springs apartment is the 2Bed/2Bath Model at The Elements, LLC starting at $1,750 with a $1.53 price per square foot in the Downtown Rapid City neighborhood. Here is today’s list of the best values for Hot Springs apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Stonegate Community3 Beds, 2 baths3BR,2BA$1.27
The Elements, LLC2Bed/2Bath2BR,2BA$1.53
Creekside Heights Apartments, LLC2 Bed/2Bath2BR,2BA$1.48
Gateway Apartments2 Bedroom2BR,2BA$1.44
Vista Pointe Apartments2-Bed 1 Bath2BR,1BA$1.32
The Pines at Rapid1/11BR,1BA$1.32
Orchard MeadowsOne Bedroom1BR,1BA$1.33
Shepherd Hills CommonsApartment Style 2 Bedroom 2 Bathroom2BR,2BA$1.55
Bridgewood EstatesOpen living space + spacious master *WAITLIST*1BR,1BA$1.22
Canyon Lake ApartmentsB12BR,1BA$1.52

A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back

Learn the property manager's true secrets to a zero-deduction move-out. Use this step-by-step guide on documentation, cleaning, and lease-reading to reclaim your security deposit.

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10 Hidden Costs of Renting You Should Budget for Before Signing a Lease

Avoid financial stress when renting. Learn about the 10 most common hidden costs—from pet fees to utilities—you must budget for before you sign a lease.

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Don't Settle: How to Negotiate Your Apartment Lease and Save Money

Discover the insider tips from an attorney and real estate agent on how to negotiate your next apartment lease. Find out what's on the table and what's not, so you can save money and get the best terms possible.

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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.

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Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.

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The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.

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Frequently Asked Questions about Cheap Hot Springs Apartments

What is the Cheapest Studio apartment in Hot Springs?

Currently the most affordable Cheap Studio Apartment in Hot Springs is at Ponderosa Apartments listed at $925.

How much is rent for a Cheap One Bedroom Hot Springs Apartment?

The lowest price for a Cheap One Bedroom Hot Springs Apartment is $900 at Bridgewood Estates.

What is the lowest price for a Cheap Two Bedroom Hot Springs Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Hot Springs is starting from $995 at 318 National St.

What is the most affordable Hot Springs Three Bedroom Apartment?

The best deal on a cheap Hot Springs Three Bedroom Apartment rental is at Bridgewood Estates and starts from $1,245.

Expert Rental Resources

The rental experts at ApartmentHomeLiving.com provide you with top advice, tools, and tips for understanding the leasing process and finding the perfect rental. Here are a few helpful rental and leasing articles from our experts to guide you on your search.

Articles, How-To's, and Tips

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A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back

Written by: Lauren Harrington

I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.

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Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts

Written by: Lauren Harrington

This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.

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What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Written by: Lauren Harrington

This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.

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Maximizing Your Refund: Essential Tax Tips for Renters

Written by: Christine Leonard, Esq.

Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.