
Cheap Apartments for Rent in Lebanon, SD from $400 (22 Rentals)
Search the lowest-cost Apartments available for rent right now in Lebanon.


9 1st Ave NE

Missouri View Apartments

Total Monthly Price
221 15th St N, Unit D4

Oakes I & II Apartments

Riverview Apartments

307 11th Ave NW
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.

Depot Apartments

1411 E Sioux Ave, Unit Apt F

Harrison Apartments

Presentation Heights

942 E 3rd St, Unit B

Forte Living of Aberdeen: 50+ Community!

Wheatgrass Village I
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.

Dakota Estates

Abbey Road Apartments

Prairie Springs Apartments

Aberdeen Communities

702 N Washington St

Highlands Ridge Apartments

1631 Olive Dr
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.

630 S High St
Lebanon, SD Local Guide

How much does it cost to rent an apartment in Lebanon?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Lebanon Studio Apartments | $1,106 | $919 | $2,035 |
| Lebanon 1 Bedroom Apartments | $1,549 | $499 | $10,000+ |
| Lebanon 2 Bedroom Apartments | $1,553 | $840 | $6,300 |
| Lebanon 3 Bedroom Apartments | $1,294 | $900 | $1,695 |
| Lebanon 4 Bedroom Apartments | $1,266 | $910 | $1,810 |
Browse Top Apartments in Lebanon
See all Apartments in LebanonExplore Lebanon
Lebanon, SD Local Guide
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Cheapest Available Lebanon Apartments for Rent and Nearby
 The cheapest available apartment rental in Lebanon, SD is a 1 Bed unit found at Missouri View Apartments priced from $499. Aberdeen Communities has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,100. Here is today’s list of the most affordable Lebanon apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Missouri View Apartments | 1 BD, 1 BA Layout | 1BR,1BA | $499 |
| Aberdeen Communities | 1 BED 1BATH | 1BR,1BA | $1,100 |
| Highlands Ridge Apartments | 1 Bed 1 Bath | 573 sqft | 1BR,1BA | $1,295 |
| Wheatgrass Village I | 3 Bedroom Townhome | 3BR,2BA | $1,465 |
Best Value Apartments for Rent in Lebanon, SD and Nearby
As of June 09, 2026 the best value apartment in the Lebanon 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 Lebanon apartment is the 2 BEDROOM LAYOUT Model at Missouri View Apartments starting at $999 with a $1.33 price per square foot . Here is today’s list of the best values for Lebanon apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Wheatgrass Village I | 3 Bedroom Townhome | 3BR,2.5BA | $0.89 |
| Missouri View Apartments | 2 BEDROOM LAYOUT | 2BR,1BA | $1.33 |
| 221 15th St N, Unit D4 | 221 15th St N | 1BR,1BA | $0.81 |
| Prairie Village Apartments | Prairie Village 1 - 1 Bed - 1 Bath | 1BR,1BA | $1.48 |
| 1411 E Sioux Ave, Unit Apt F | 1411 E Sioux Ave | 1BR,1BA | $1.42 |
| Highlands Ridge Apartments | 1 Bed 1 Bath | 573 sqft | 1BR,1BA | $2.26 |
| Aberdeen Communities | 1 BED 1BATH | 1BR,1BA | $2.00 |
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.
Read ArticleReal 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.
Read ArticleQuick 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.
Remember the 3 Rules of Real Estate:Location, Location, Location!
Explore Lebanon, SD Rentals by Map
See the most popular apartments and homes in Lebanon, SD
Frequently Asked Questions about Cheap Lebanon Apartments
How much is rent for a Cheap One Bedroom Lebanon Apartment?
The lowest price for a Cheap One Bedroom Lebanon Apartment is $499 at Missouri View Apartments.
What is the lowest price for a Cheap Two Bedroom Lebanon Apartment for rent?
Today's best deal for a Cheap Two Bedroom Apartment in Lebanon is starting from $999 at Missouri View Apartments.
What is the most affordable Lebanon Three Bedroom Apartment?
The best deal on a cheap Lebanon Three Bedroom Apartment rental is at Wheatgrass Village I and starts from $1,465.
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

How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide
Written by: Robin Stewart
Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.

Pet-Friendly Renting: Everything You Need to Know Before You Move
Written by: Christine Leonard, Esq.
For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.

Creative Ways Developers Reimagine Retail Spaces as Residential Units
Written by: Robin Stewart
Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.

Neighborhood and Market Insights: How to Choose the Right Area to Rent
Written by: Robin Stewart
Apartment-hunting can be a gargantuan task. Renters have a wish list of items—some luxuries, some necessities—but finding what you seek in the right place is perhaps the most important part of the journey.