Cheap Homes for Rent in Lake Preston, SD from $600 (9 Rentals)

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property at 304 N Main St

304 N Main St

MitchellSD57301

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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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 Studio unit found at Wheatgrass Village I priced from $695. University Hills Village has the second lowest priced unit, which is a Studio apartment currently listed from $825. Here is today’s list of the most affordable Lake Preston apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Wheatgrass Village IEfficency with 1 bathStudio,1BA$695
University Hills VillageStudio - 559 sqftStudio,1BA$825
Marion Crossing Apartments1 Bed 1 Bath Apartment1BR,1BA$845

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

As of November 06, 2025 the best value apartment in the Lake Preston area is the $0.92 price per square foot 3x2 Model at 100 W 10th St in the starting from $1,650. The second greatest value Lake Preston apartment is the 3 Bed Model at Cloverfield Townhomes starting at $2,095 with a $1.16 price per square foot in the Downtown Brookings neighborhood. 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.
100 W 10th St3x23BR,2BA$0.92
Cloverfield Townhomes3 Bed3BR,2.5BA$1.16
One & Two Willow Creek2BR/2.0BA2BR,2BA$0.87
Lake Area Townhomes3 Bedroom3BR,2.5BA$1.02
110 W 10th StModel B3BR,2BA$1.04
1009 Southland Ln2 Bed 2 Bath2BR,2BA$1.06
105 Carly Dr2 Bed2BR,1.5BA$1.04
Wheatridge Apartments2 Bed 2 Bath2BR,2BA$1.10
Thelin Center2 Bedroom 2 Bathroom2BR,2BA$1.19
Marion Crossing Apartments1 Bed 1 Bath Apartment1BR,1BA$1.14

Apartment Common Area Rules: What Renters Need to Know

From the lounge to the laundry room, understand your rights and responsibilities in shared apartment spaces. Get tips on pet rules, noise, and security.

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

Explore Lake Preston, SD Rentals by Map

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Frequently Asked Questions about Lake Preston

What type of rentals are currently available in Lake Preston?

There are currently 54 Apartments for Rent in Lake Preston, SD with pricing that ranges from $399 to $2,386. There are also 32 Single Family Homes for rent, Condos, and Townhome rentals currently available in Lake Preston ranging from $650 to $10,000.

What is the current price range for Rental Homes in Lake Preston?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Lake Preston ranges from $650 to $10,000 with an average monthly rent of $1,627.

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.

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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.

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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.