
Cheap Apartments for Rent in Lake City, SD from $500 (35 Rentals)
Search the lowest-cost Apartments available for rent right now in Lake City.


Prairie Park Fairmount Apartments

Liberty Lights Apartments

Spruce Place Apartments

Gwinner I & II Apartments

Oakes I & II Apartments

Total Monthly Price
Natures Edge Partners LLC
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.

Colonial Village Apartments

Center Street Apartments

Depot Apartments

Westdale Apartments

Broadway Apartments

Prairie Springs Apartments
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.

Forte Living of Aberdeen: 50+ Community!

River Bluff Apartments

Cascade Apartments
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.

608 W 3rd St

211 W Channing Ave

124 8th Ave SW
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.

179 8th St NE

228 E Fir Ave
Lake City, SD Local Guide

How much does it cost to rent an apartment in Lake City?
Bedroom | Average Rent | Cheapest Rent | Highest Rent |
---|---|---|---|
Lake City Studio Apartments | $915 | $820 | $952 |
Lake City 1 Bedroom Apartments | $940 | $502 | $1,270 |
Lake City 2 Bedroom Apartments | $1,184 | $545 | $1,980 |
Lake City 3 Bedroom Apartments | $1,318 | $650 | $1,800 |
Lake City 4 Bedroom Apartments | $1,255 | $1,255 | $1,255 |
Browse Top Apartments in Lake City
See all Apartments in Lake CityExplore Lake City
Lake City, SD Local Guide
- Nearby Cities
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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 Beardsley Apartments priced from $519. Prairie Park Fairmount Apartments has the second lowest priced unit, which is a 2 Beds apartment currently listed from $545. Here is today’s list of the most affordable Lake City apartments for rent:
Apartment Listing | Model Name | Bed/Bath | Priced From |
---|---|---|---|
Beardsley Apartments | One Bedroom | 1BR,1BA | $519 |
Prairie Park Fairmount Apartments | 2 Beds, 1 bath | 2BR,1BA | $545 |
Heritage Square | 1 Bed, 1 bath | 1BR,1BA | $575 |
Liberty Lights Apartments | 1 Bedroom | 1BR,1BA | $639 |
Natures Edge Partners LLC | 1B1B MKT | 1BR,1BA | $705 |
Spruce Place Apartments | 2 Bedroom | Laurel Place | 2BR,1BA | $765 |
Center Street Apartments | Wahp 2 bed | 2BR,1BA | $795 |
Cascade Apartments | One Bedroom | 1BR,1BA | $898 |
1631 Olive Dr | Two Bedroom | 2BR,1BA | $925 |
Aberdeen Communities | 1 BED 1BATH | 1BR,1BA | $925 |
Best Value Apartments for Rent in Lake City, SD and Nearby
As of September 20, 2025 the best value apartment in the Lake City area is the $1.11 price per square foot 1080 sf 2b/1b Model at Wilkeshire Apartments in the starting from $1,200. The second greatest value Lake City apartment is the K Model at Marketplace Apartments starting at $1,435 with a $1.39 price per square foot . Here is today’s list of the best values for Lake City apartments based on price per square foot:
Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
---|---|---|---|
Wilkeshire Apartments | 1080 sf 2b/1b | 2BR,1BA | $1.11 |
Marketplace Apartments | K | 2BR,2BA | $1.39 |
Prairie Park Fairmount Apartments | 3 Beds, 1 bath | 3BR,1BA | $0.67 |
Beardsley Apartments | One Bedroom | 1BR,1BA | $0.58 |
Spruce Place Apartments | 2 Bedroom | Laurel Place | 2BR,1BA | $0.85 |
Center Street Apartments | Wahp 2 bed | 2BR,1BA | $0.99 |
1631 Olive Dr | Two Bedroom | 2BR,1BA | $1.16 |
Generations on 1st | 1BR/1.0BA | 1BR,1BA | $1.40 |
Cascade Apartments | One Bedroom | 1BR,1BA | $1.33 |
Liberty Lights Apartments | 1 Bedroom | 1BR,1BA | $1.22 |
Quick Rent Budget Calculator
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Remember the 3 Rules of Real Estate:Location, Location, Location!
Explore Lake City, SD Rentals by Map
See the most popular apartments and homes in Lake City, SD
Getting Around Lake City, SD
Walk Score®
2 / 100
Car-Dependent
Almost all errands require a car
Bike Score®
28 / 100
Somewhat Bikeable
Minimal bike infrastructure
What Are Walk Score®, Transit Score®, and Bike Score® Ratings?
- Walk Score® measures the walkability of any address.
- Transit Score® measures access to public transit.
- Bike Score® measures the bikeability of any address.
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 $519 at Beardsley 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 Prairie Park Fairmount 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 Prairie Park Fairmount Apartments and starts from $650.
Expert Rental Resources
Helpful Apartment Articles, How-To's and Tips
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.

How to Negotiate Your Apartment Lease and Save Money
Written by: Christine Leonard, Esq.
Everything is a negotiation in real estate!

The Rental Move-In Inspection Checklist: A Guide for Renters
Written by: Trey Huguley
The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.

Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between
Written by: Christine Leonard, Esq.
For many people, obstacles can arise during the rental application process for a variety of issues.

The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro
Written by: Christine Leonard, Esq.
Hard truth. Moving is never easy. I’ve done it all – from local moves to cross-country relocations From packing to unpacking the last box, I have found moving to be an exhausting, expensive and stressful experience every time.