Cheap Apartments for Rent in Rapid City, SD from $400 (47 Rentals)

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Search the lowest-cost Apartments available for rent right now in Rapid City.

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.

property at 601 E North St

601 E North St

Rapid CitySD57701

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.

property at 1935 38th St

1935 38th St

Rapid CitySD57702

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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Driftwood Estates
Studio to 3 Bedroom Apartments

Driftwood Estates

428 E Fairlane DrRapid City, SD 57701
  • Utilities Included
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Heartland Heights
1 to 3 Bedroom Apartments

Heartland Heights

427 Degeest DrRapid City, SD 57703

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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Edgewood Estates
2 to 3 Bedroom Apartments

Edgewood Estates

721 Eldene LnRapid City, SD 57701
  • Utilities Included
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Penney-Haines, LLC
Studio to 2 Bedroom Apartments

Penney-Haines, LLC

507 6th StRapid City, SD 57701
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Dakota Drive Apartments
1 to 2 Bedroom Apartments

Dakota Drive Apartments

701-733 Dakota DrRapid City, SD 57702
  • 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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Sundial Square
1 to 4 Bedroom Apartments

Sundial Square

118 Waterloo StRapid City, SD 57701
  • Utilities Included
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CARRIAGE GREEN
1 to 3 Bedroom Apartments

CARRIAGE GREEN

4205 Elm AveRapid City, SD 57701
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Moonlight Apartments
Studio to 2 Bedroom Apartments

Moonlight Apartments

1062 Valley DrRapid City, SD 57703
  • Utilities Included
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1320 Quincy St
Studio to 3 Bedroom Apartments

1320 Quincy St

1320 Quincy StRapid City, SD 57701
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440 N Creek Dr
2 Bedroom Apartments

440 N Creek Dr

440 N Creek DrRapid City, SD 57703

Rapid City, SD Local Guide

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Written By:
Staff Writer
Local Guide Expert

Cheapest Neighborhoods for Apartments in Rapid City, SD

Pricing Updated: 09/13/2025

Current apartment rentals in the Rapid City, SD area range in price from to with an overall median price of . Here is today’s list neighborhoods with the lowest median pricing for Rapid City Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Downtown Rapid City$1,725$1,1008

Cheapest Available Rapid City Apartments for Rent

 

The cheapest available apartment rental in Rapid City, SD is a 1 Bed unit found at The Place at Estes Park in the Downtown Rapid City neighborhood priced from $590. The Place at Hainesway in the Downtown Rapid City neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $730. Here is today’s list of the most affordable Rapid City apartments for rent:

Apartment ListingModel NameBed/BathPriced From
The Place at Estes ParkOne Bed One Bath1BR,1BA$590
The Place at HaineswayStudioStudio,1BA$730
Civic Plaza Apartments2 Bedroom Garden Level2BR,1BA$865
Bridgewood EstatesOpen living space + spacious master1BR,1BA$870
BG Flats ApartmentsStudio ApartmentStudio,1BA$935
Shepherd Hills CommonsApartment Style StudioStudio,1BA$945
CARRIAGE GREENOpen living space + spacious master1BR,1BA$945
Enchanted PinesStudioStudio,1BA$950

Best Value Apartments for Rent in Rapid City, SD

As of September 13, 2025 the best value apartment in the Rapid City area is the $1.22 price per square foot 3/2 Model at The Pines at Rapid in the starting from $1,699. The second greatest value Rapid City apartment is the 3b2b WD Southern Model at Southern Cross Apartments starting at $1,400 with a $1.11 price per square foot . Here is today’s list of the best values for Rapid City apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
The Pines at Rapid3/23BR,2BA$1.22
Southern Cross Apartments3b2b WD Southern3BR,2BA$1.11
410 Quincy St, Unit 410 Quincy St410 Quincy St2BR,1BA$1.10
Boulder Creek ApartmentsBoulder Two Bedroom2BR,2BA$1.13
Johnson Ranch Apartments2 Bedroom 2 Bath2BR,2BA$1.27
The RadiantTwo Bedroom 60%2BR,1BA$1.11
The Place at Estes ParkTwo Bed One Bath2BR,1BA$1.08
Sheridan Lake ApartmentsThe Windsor2BR,1BA$1.25
811 Mallow St, Unit 4811 Mallow St2BR,1BA$1.20
Bridgewood EstatesOpen living space + spacious master1BR,1BA$1.18

Quick Rent Budget Calculator

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Rapid City Overview

When most people think of Rapid City, South Dakota, images of beautiful scenery, sunny weather, and friendly people immediately come to mind. Furthermore, apartment living in Rapid City is the perfect way to experience everything that Rapid City has to offer.

Why live in Rapid City, SD?

When it comes to living in Rapid City, a population of over 70,000 have all decided to call this city home. This city is home to thousands of nature lovers. With some of the most majestic mountains, green forests, and diverse wildlife on Earth, anyone enjoying nature will love Rapid City. Access to scenic views doesn't preclude civilization, as this city has plenty of radio, TV stations, attractions, and development that everyone expects in a developed town. While Rapid City is the third largest city in South Dakota, it is a popular place to call home because it doesn't have any of the traffic headaches or commuting nightmares that plague other cities.

Rapid City, SD
Population: 75,443

Ranked #469

in US Census Population by City

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

Explore Rapid City, SD Rentals by Map

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Getting Around Rapid City, SD

Walk Score®

39 / 100

Car-Dependent

Most errands require a car

Bike Score®

40 / 100

Somewhat Bikeable

Minimal bike infrastructure

Frequently Asked Questions about Cheap Rapid City Apartments

What is the Cheapest Studio apartment in Rapid City?

Currently the most affordable Cheap Studio Apartment in Rapid City is at The Place at Hainesway listed at $730.

How much is rent for a Cheap One Bedroom Rapid City Apartment?

The lowest price for a Cheap One Bedroom Rapid City Apartment is $590 at The Place at Estes Park.

What is the lowest price for a Cheap Two Bedroom Rapid City Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Rapid City is starting from $865 at Civic Plaza Apartments.

What is the most affordable Rapid City Three Bedroom Apartment?

The best deal on a cheap Rapid City Three Bedroom Apartment rental is at Bridgewood Estates and starts from $1,205.

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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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.

decorative image for The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro article

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.

decorative image for Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting article

Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Written by: Christine Leonard, Esq.

Throughout the day, think about all the times that you have to pay for something. So many of us reach automatically for a credit card or even our phone for a quick payment.