Cheap Apartments for Rent in Hot Springs, SD from $500 (52 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

Rent According to Income: A Look at Income-Restricted Rentals

Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.

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Prairie Tree
$1,160 - $1,215
Total Monthly Price

Total Monthly Price

Base Rent
$1,160 - $1,215
Total Monthly Price
$1,160 - $1,215
1 to 2 Bedroom Apartments Available Nov 7

Prairie Tree

4010 Elm AveRapid City, SD 57701
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  • Customer Reviewed
  • Utilities Included

Renters Insurance 101: What It Is, What It Covers, and Why You Need It

From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.

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How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Finding the right apartment starts with three things: location, cost, and amenities. Get the insider perspective from a real estate professional on how to nail all three.

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318 National St
1 to 2 Bedroom Apartments

318 National St

318 National StRapid City, SD 57702

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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KC Lofts
1 to 2 Bedroom Apartments

KC Lofts

18 E Kansas City StRapid City, SD 57701
Corporate Housing
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1923 38th St
2 to 3 Bedroom Apartments

1923 38th St

1923 38th StRapid City, SD 57702
  • Utilities Included

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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Showing Results 1-50, Page 1 of 2

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. Canyon Lake has the second lowest priced unit, which is a Studio apartment currently listed from $930. 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
Canyon LakeThe TeddyStudio,1BA$930
Enchanted PinesStudioStudio,1BA$950
BG Flats ApartmentsStudio ApartmentStudio,1BA$960
Orchard MeadowsStudioStudio,1BA$975
Ponderosa ApartmentsStudio UnitsStudio,1BA$975
Moonlight Apartment ComplexStudioStudio,1BA$995
Copper Ridge ApartmentsAStudio,1BA$1,025
Creekside Heights Apartments, LLCEfficiencyStudio,1BA$1,030
Candlewood Apartments1 Bedroom1BR,1BA$1,070

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

As of July 30, 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 The Gardens Model at Stoney Creek Highlands starting at $1,425 with a $1.41 price per square foot . 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
Stoney Creek HighlandsThe Gardens2BR,2BA$1.41
Vista Pointe Apartments2-Bed 1 Bath2BR,1BA$1.32
The Pines at Rapid1/11BR,1BA$1.35
Country Bluff ApartmentsThe Roosevelt2BR,1BA$1.39
The Altitude Villas 11x11BR,1BA$1.68
The Altitude Flats1x1 ADA1BR,1BA$1.68
Gateway Apartments1 Bedroom1BR,1BA$1.66
Bridgewood EstatesOpen living space + spacious master *WAITLIST*1BR,1BA$1.22
Candlewood Apartments1 Bedroom1BR,1BA$1.46

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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Real Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University

From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.

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Quick Rent Budget Calculator

How much rent can you afford?

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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Hot Springs, SD

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Remember the 3 Rules of Real Estate:
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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 Canyon Lake listed at $930.

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 $1,045 at Bridgewood Estates.

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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Rent According to Income: A Look at Income-Restricted Rentals

Written by: Robin Stewart

The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.

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First Apartment Regrets: Real Renters Share What They'd Do Differently

Written by: Robin Stewart

Hindsight is 20/20. Live and Learn. With age comes wisdom. We’re familiar with all those expressions, and all of them apply to lessons first-time renters learn.

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Renters Insurance 101: What It Is, What It Covers, and Why You Need It

Written by: Robin Stewart

Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.

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Apartment Occupancy Rates: Renter Attraction vs Renter Retention

Written by: Robin Stewart

There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.