Cheap Apartments for Rent in Lake Preston, SD from $300 (31 Rentals)

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

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Eastside Townhomes
2 to 3 Bedroom Apartments

Eastside Townhomes

732 4th St SELake Preston, SD 57249
  • 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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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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Woodland Park - Ivanhoe
1 to 2 Bedroom Apartments

Woodland Park - Ivanhoe

106 N County Road 5Ivanhoe, MN 56142
  • Utilities Included
property at 400 N Main St

$700 - $1,200

1 To 2 Bedroom Rentals

Available Now

400 N Main St

MitchellSD57301

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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Cathedral Square II
1 Bedroom Apartments

Cathedral Square II

500 N Langdon StMitchell, SD 57301
Senior Living
  • Utilities Included
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Greenridge Apartments
1 Bedroom Apartments

Greenridge Apartments

1500 N Kimball StMitchell, SD 57301
Senior Living
  • Utilities Included

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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Southland Court
Studio to 2 Bedroom Apartments

Southland Court

818 Southland LnBrookings, SD 57006
  • Utilities Included
Showing Results 1-31, Page 1 of 1

Lake Preston, SD Local Guide

Cheapest Available Lake Preston Apartments for Rent and Nearby

 

The cheapest available apartment rental in Lake Preston, SD is a 2 Beds unit found at Copper Flats priced from $621. Wheatgrass Village I has the second lowest priced unit, which is a Studio apartment currently listed from $695. Here is today’s list of the most affordable Lake Preston apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Copper Flats2 Bedroom 2 Bathroom2BR,2BA$621
Wheatgrass Village IEfficency with 1 bathStudio,1BA$695
Marion Crossing Apartments1 Bed 1 Bath Apartment1BR,1BA$805
University Hills VillageStudio - 559 sqftStudio,1BA$825
Lake Area Townhomes1 Bedroom1BR,1BA$845
West Oaks EstatesEfficiency UnitStudio,1BA$849
Maple Pass Apartments and Townhomes in Hartford, SDStudio ApartmentsStudio,1BA$870
Yukon at BensonStudioStudio,1BA$875
Forte of Brookings: 50+ Community!StarlingStudio,1BA$895
Archer FlatsStudioStudio,1BA$900

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

As of December 21, 2025 the best value apartment in the Lake Preston area is the $1.16 price per square foot 3 Bed Model at Cloverfield Townhomes in the in the Downtown Brookings neighborhood starting from $2,095. The second greatest value Lake Preston apartment is the 3Bed,2.5Bath Model at 1501 N Grove Pl starting at $1,700 with a $1.13 price per square foot . Here is today’s list of the best values for Lake Preston apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Cloverfield Townhomes3 Bed3BR,2.5BA$1.16
1501 N Grove Pl3Bed,2.5Bath3BR,2.5BA$1.13
110 W 10th StModel B3BR,2BA$1.11
Lake Area Townhomes2 Bedroom2BR,2.5BA$1.02
Fifth Street Apartments & TownhousesUpper Apartment3BR,2BA$1.20
105 Carly Dr2 Bed2BR,1.5BA$1.04
Quail View - 55+2 Bedroom2BR,1BA$1.23
Wheatridge Apartments2 Bed 2 Bath2BR,2BA$1.10
Copper Flats2 Bedroom 2 Bathroom2BR,2BA$0.78
Marion Crossing Apartments1 Bed 1 Bath Apartment1BR,1BA$1.09

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

Explore Lake Preston, SD Rentals by Map

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Getting Around Lake Preston, SD

Walk Score®

22 / 100

Car-Dependent

Almost all errands require a car

Bike Score®

35 / 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 Preston Apartments

What is the Cheapest Studio apartment in Lake Preston?

Currently the most affordable Cheap Studio Apartment in Lake Preston is at Wheatgrass Village I listed at $695.

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

The lowest price for a Cheap One Bedroom Lake Preston Apartment is $805 at Marion Crossing Apartments.

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

Today's best deal for a Cheap Two Bedroom Apartment in Lake Preston is starting from $621 at Copper Flats.

What is the most affordable Lake Preston Three Bedroom Apartment?

The best deal on a cheap Lake Preston Three Bedroom Apartment rental is at Thelin Center and starts from $1,295.

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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Renting with Roommates: Realistic Expectations for Shared Lease

Written by: Christine Leonard, Esq.

Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.

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Apartment Common Area Rules: What Renters Need to Know

Written by: Christine Leonard, Esq.

Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.

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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate! 

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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.