Cheap Apartments for Rent in Hot Springs, SD from $400 (46 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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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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Canyon Lake Apartments
Studio to 3 Bedroom Apartments

Canyon Lake Apartments

3741 Canyon Lake DrRapid City, SD 57702
Corporate Housing

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
property at 3850 Park Dr

$1,495

2 Bedroom Rentals

Available Jun 22

3850 Park Dr

Rapid CitySD57702

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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1923 38th St
2 to 3 Bedroom Apartments

1923 38th St

1923 38th StRapid City, SD 57702
  • Utilities Included
Showing Results 1-46, 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 Studio unit found at Robbinsdale Heights 1 priced from $475. Bridgewood Estates has the second lowest priced unit, which is a 1 Bed apartment currently listed from $900. Here is today’s list of the most affordable Hot Springs apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Robbinsdale Heights 1Studio - InteriorStudio,1BA$475
Bridgewood EstatesOpen living space + spacious master *WAITLIST*1BR,1BA$900
Ponderosa ApartmentsStudio UnitsStudio,1BA$925
BG Flats Apartments1 Bedroom 1 Bathroom Apartment1BR,1BA$950
Enchanted PinesStudioStudio,1BA$950
Candlewood ApartmentsStudioStudio,1BA$990
The Place at Estes ParkTwo Bed Two Bath2BR,2BA$995
Moonlight Apartment ComplexStudioStudio,1BA$995
318 National St2/12BR,1BA$995
Orchard MeadowsStudioStudio,1BA$1,000

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

As of June 15, 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 Two Bed Two Bath Model at The Place at Estes Park starting at $995 with a $1.03 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 Place at Estes ParkTwo Bed Two Bath2BR,2BA$1.03
Sheridan Lake ApartmentsThe Windsor2BR,1BA$1.17
Vista Pointe Apartments2-Bed 1 Bath2BR,1BA$1.32
The Pines at Rapid1/11BR,1BA$1.35
Canyon Lake ApartmentsC13BR,1BA$1.57
The VUE at Catron2 Bedroom 2 Bathroom Accessible2BR,2BA$1.65
The Altitude 21x1ADA1BR,1BA$1.68
Bridgewood EstatesOpen living space + spacious master *WAITLIST*1BR,1BA$1.22
318 National St2/12BR,1BA$1.66

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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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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Best Local Schools in
Hot Springs, SD

School data provided by Great Schools

Remember the 3 Rules of Real Estate:
Location, Location, Location!

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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 Robbinsdale Heights 1 listed at $475.

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 The Place at Estes Park.

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

Written by: Robin Stewart

Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.

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Pet-Friendly Renting: Everything You Need to Know Before You Move

Written by: Christine Leonard, Esq.

For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.

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Creative Ways Developers Reimagine Retail Spaces as Residential Units

Written by: Robin Stewart

Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.

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Neighborhood and Market Insights: How to Choose the Right Area to Rent

Written by: Robin Stewart

Apartment-hunting can be a gargantuan task. Renters have a wish list of items—some luxuries, some necessities—but finding what you seek in the right place is perhaps the most important part of the journey.