Cheap Apartments for Rent in Rapid City, SD from $400 (52 Rentals)

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

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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property at 723 Myrtle Ave

723 Myrtle Ave

Rapid CitySD57701

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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Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

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Heartland Heights
1 to 3 Bedroom Apartments

Heartland Heights

427 Degeest DrRapid City, SD 57703
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Edgewood Estates
2 to 3 Bedroom Apartments

Edgewood Estates

721 Eldene LnRapid City, SD 57701
  • Utilities Included

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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Driftwood Estates
3 Bedroom Apartments

Driftwood Estates

428 E Fairlane DrRapid City, SD 57701
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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 2 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
Showing Results 1-50, Page 1 of 2

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: 06/30/2025

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$1,564$497147

Cheapest Available Rapid City Apartments for Rent

 

The cheapest available apartment rental in Rapid City, SD is a 1 Bed unit found at Penney-Haines, LLC in the Downtown Rapid City neighborhood priced from $620. Briarwood Apartments in the Downtown Rapid City neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $735. Here is today’s list of the most affordable Rapid City apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Penney-Haines, LLCOne Bedroom/Small1BR,1BA$620
Briarwood Apartments1 Bedroom Apt1BR,1BA$735
Parkview Plaza ApartmentsOne bedroom1BR,1BA$825
Civic Plaza Apartments2 Bedroom Garden Level2BR,1BA$865
Bridgewood EstatesOpen living space + spacious master1BR,1BA$870
Canyon Lake ApartmentsS1Studio,1BA$915
CARRIAGE GREENOpen living space + spacious master1BR,1BA$945
The RadiantOne Bedroom 60%1BR,1BA$953
Moonlight Apartment ComplexStudioStudio,1BA$975

Best Value Apartments for Rent in Rapid City, SD

As of June 30, 2025 the best value apartment in the Rapid City area is the $0.94 price per square foot 618 Saint Joseph St Model at 618 Saint Joseph St, Unit #4 in the in the Downtown Rapid City neighborhood starting from $1,700. The second greatest value Rapid City apartment is the 3 Beds, 2 baths Model at Stonegate Community starting at $1,495 with a $1.27 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.
618 Saint Joseph St, Unit #4618 Saint Joseph St2BR,2BA$0.94
Stonegate Community3 Beds, 2 baths3BR,2BA$1.27
Southern Cross Apartments2b1b Southern2BR,1BA$1.10
The Place at Estes ParkTwo Bed Two Bath2BR,2BA$1.08
Sheridan Lake ApartmentsThe Stanford2BR,2BA$1.22
Orchard MeadowsOne Bedroom1BR,1BA$1.30
Bridgewood EstatesOpen living space + spacious master1BR,1BA$1.18
Parkview Plaza ApartmentsOne bedroom1BR,1BA$1.14
Briarwood Apartments1 Bedroom Apt1BR,1BA$1.09
Civic Plaza Apartments2 Bedroom Garden Level2BR,1BA$1.29

Quick Rent Budget Calculator

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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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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.

Best Local Schools in
Rapid City, SD

School data provided by Great Schools

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

Explore Rapid City, SD Rentals by Map

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See the most popular apartments and homes in Rapid City, SD

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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

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 Rapid City Apartments

What is a cheap apartment in Rapid City?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Rapid City is under $975.

What is the price of a cheap apartment in Rapid City?

The cheapest apartment in Rapid City is Penney-Haines, LLC which is listed at $620, while the average apartment in Rapid City costs $1,564.

What types of apartments are the cheapest in Rapid City?

Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 7 regular apartments in Rapid City that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

How do the prices of cheap apartments compare to the average apartment in Rapid City?

Cheap apartments in Rapid City have an average cost of $922 which is $642 cheaper than the average rent for all rentals in Rapid City.

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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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

Written by: Cheryl Bowman

A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.

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The Art of the Rental Viewing: What to look for during a property tour

Written by: Marie Brown

You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.

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Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.

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The Freedom of Short-Term Leases: Exploring the Advantages for Renters

Written by: Bobbi Jackson

If you’re looking to relocate right now, a popular solution that may best fit your current rental needs is a short-term lease.