Cheap Apartments for Rent in Lake Preston, SD from $455 (65 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

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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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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Copper Flats
1 to 3 Bedroom Apartments

Copper Flats

2415 S Capital StMitchell, SD 57301
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Woodland Park - Ivanhoe
1 to 2 Bedroom Apartments

Woodland Park - Ivanhoe

106 N County Road 5Ivanhoe, MN 56142
  • Utilities Included
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Greenridge Apartments
1 Bedroom Apartments

Greenridge Apartments

1500 N Kimball StMitchell, SD 57301
Senior Living
  • 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 Preston, SD Local Guide

Cheapest Available Lake Preston Apartments for Rent and Nearby

 

The cheapest available apartment rental in Lake Preston, SD is a 1 Bed unit found at Mary's Heights Apartments priced from $455. Ashbrook Trail Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $460. Here is today’s list of the most affordable Lake Preston apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Mary's Heights Apartments1 Bed, 1 bath1BR,1BA$455
Ashbrook Trail Apartments1 Bed, 1 bath1BR,1BA$460
Copper Flats2 Bedroom 1 Bathroom2BR,1BA$621
Egan Avenue ResidenceBedroom C1BR,1BA$645
Lake Area Townhomes1 Bedroom1BR,1BA$855
University Hills VillageK# Unit - Studio/1 BA - Non-SmokingStudio,1BA$875
Edgerton PlaceEdgerton Place Phase II - StudioStudio,1BA$920
Archer FlatsEfficiencyStudio,1BA$925
Parkview Apartments and Townhomes2 bedroom apartment2BR,1BA$950
Latitude 44The CoveStudio,1BA$955

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

As of September 10, 2026 the best value apartment in the Lake Preston area is the $0.89 price per square foot 3 Bedroom Townhome Model at Wheatgrass Village I in the starting from $1,465. The second greatest value Lake Preston apartment is the 3 Beds, 2 baths Model at Mary's Heights Apartments starting at $800 with a $0.60 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.
Wheatgrass Village I3 Bedroom Townhome3BR,2.5BA$0.89
Mary's Heights Apartments3 Beds, 2 baths3BR,2BA$0.60
Lake Area Townhomes1 Bedroom1BR,1BA$0.72
Marion Crossing Apartments2 Bed 1 Bath Apartment2BR,1BA$1.02
100 W 10th St2x1.52BR,1.5BA$1.09
Copper Flats3 Bedroom 2 Bathroom3BR,2BA$0.96
Campus View2 Bed + 2 Bath2BR,2BA$1.20
Thelin Center2 Bedroom 2 Bathroom2BR,2BA$1.22
Parkview Apartments and Townhomes2 bedroom apartment2BR,1BA$1.21
Ashbrook Trail Apartments1 Bed, 1 bath1BR,1BA$0.60

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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Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

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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 Preston, SD Rentals by Map

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

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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 University Hills Village listed at $875.

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

The lowest price for a Cheap One Bedroom Lake Preston Apartment is $455 at Mary's Heights 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 $545 at Mary's Heights Apartments.

What is the most affordable Lake Preston Three Bedroom Apartment?

The best deal on a cheap Lake Preston 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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Exploring Rental Options: Apartments, Townhomes, and Lofts - Oh My!

Written by: Robin Stewart

Where do you see yourself? When you think of home, sweet home, are you in a 3/2 apartment? Dreaming of a tall townhome? Maybe an industrial loft heavy on cool vibes is on your visioning board.

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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.