Cheap Apartments for Rent near Lake City, SD from $455 (60 Rentals)

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Search the lowest-cost Apartments available for rent right now in Lake City.

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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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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Sunset Ridge Apartments
$1,210 - $1,310
Total Monthly Price12 Month Lease Term

Total Monthly Price

Base Rent
$1,150 - $1,250
Required Monthly Fees
$60
Total Monthly Price
$1,210 - $1,310
1 to 2 Bedroom Apartments Available Sep 1

Sunset Ridge Apartments

2387-2467 Pioneer RdFergus Falls, MN 56537
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Goldenwood
1 to 2 Bedroom Apartments

Goldenwood

1145 Friberg AveFergus Falls, MN 56537
Senior Living
  • Utilities Included
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806 W 5th St
Studio to 1 Bedroom Apartments

806 W 5th St

806 W 5th StMorris, MN 56267
Corporate Housing
  • 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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Heritage Square
1 to 3 Bedroom Apartments

Heritage Square

500 Dakota AveWahpeton, ND 58075
  • Utilities Included
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Del Rose Apartments
1 to 2 Bedroom Apartments

Del Rose Apartments

504 3rd Ave NWahpeton, ND 58075
  • Utilities Included
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503 6th St N
1 Bedroom Apartments

503 6th St N

503 6th St NWahpeton, ND 58075
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Aspen Green II
1 to 2 Bedroom Apartments

Aspen Green II

720 Melody LnFergus Falls, MN 56537
  • Utilities Included
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Home Rite Apartments
1 to 2 Bedroom Apartments

Home Rite Apartments

126 1st St SEOrtonville, MN 56278
  • Utilities Included
property at 1624 8th St N

$725 - $795

1 To 2 Bedroom Rentals

Available Now

1624 8th St N

WahpetonND58075
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1631 Olive Dr
1 to 2 Bedroom Apartments

1631 Olive Dr

1631 Olive DrAberdeen, SD 57401
  • Utilities Included
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Lamplighter Apartments
1 to 2 Bedroom Apartments

Lamplighter Apartments

201 W 5th StMorris, MN 56267
Student Housing
  • 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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Lake City, SD Local Guide

Cheapest Available Lake City Apartments for Rent and Nearby

 

The cheapest available apartment rental in Lake City, SD is a 1 Bed unit found at Mary's Heights Apartments priced from $455. Liberty Lights Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $600. Here is today’s list of the most affordable Lake City apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Mary's Heights Apartments1 Bed, 1 bath1BR,1BA$455
Liberty Lights Apartments1 Bedroom1BR,1BA$600
Gwinner I & II Apartments1 br/ 1 bath1BR,1BA$700
Beardsley ApartmentsTwo Bedroom2BR,1BA$700
Spruce Place Apartments1 Bedroom | Spruce Place1BR,1BA$710
Eastside Acres1 Bed, 1 bath1BR,1BA$761
Center Street ApartmentsWahp 2 bed2BR,1BA$795
Cascade ApartmentsOne Bedroom1BR,1BA$898
Generations on 1st1BR/1.0BA1BR,1BA$1,055
Aberdeen Communities1 BED 1BATH1BR,1BA$1,100

Best Value Apartments for Rent in Lake City, SD and Nearby

As of August 27, 2026 the best value apartment in the Lake City area is the $0.60 price per square foot 3 Beds, 2 baths Model at Mary's Heights Apartments in the starting from $800. The second greatest value Lake City apartment is the Two Bedroom Model at Beardsley Apartments starting at $700 with a $0.58 price per square foot . Here is today’s list of the best values for Lake City apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Mary's Heights Apartments3 Beds, 2 baths3BR,2BA$0.60
Beardsley ApartmentsTwo Bedroom2BR,1BA$0.58
Center Street ApartmentsWahp 2 bed2BR,1BA$0.99
Generations on 1st1BR/1.0BA1BR,1BA$1.46
Cascade ApartmentsOne Bedroom1BR,1BA$1.33
Gwinner I & II Apartments1 br/ 1 bath1BR,1BA$1.10
Spruce Place Apartments1 Bedroom | Spruce Place1BR,1BA$1.12
Liberty Lights Apartments1 Bedroom Garage1BR,1BA$1.27
Aberdeen Communities1 BED 1BATH1BR,1BA$2.00
Eastside Acres1 Bed, 1 bath1BR,1BA$1.52

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

Explore Lake City, SD Rentals by Map

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See the most popular apartments and homes in Lake City, SD

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Frequently Asked Questions about Cheap Lake City Apartments

How much is rent for a Cheap One Bedroom Lake City Apartment?

The lowest price for a Cheap One Bedroom Lake City Apartment is $455 at Mary's Heights Apartments.

What is the lowest price for a Cheap Two Bedroom Lake City Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Lake City is starting from $545 at Mary's Heights Apartments.

What is the most affordable Lake City Three Bedroom Apartment?

The best deal on a cheap Lake City Three Bedroom Apartment rental is at Mary's Heights Apartments and starts from $800.

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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Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags

Written by: Robin Stewart

Renters want to find a great apartment, the right place for them, one that checks all the boxes of location, rental cost, amenities, safety, and more.

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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.

decorative image for Renters Insurance 101: What It Is, What It Covers, and Why You Need It article

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.