Cheap Apartments for Rent in Rapid City, SD from $400 (53 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.

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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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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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property at 231 Quincy St

$1,000 - $1,200

2 Bedroom Rentals

Available Dec 18

231 Quincy St

Rapid CitySD57701
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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

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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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
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Edgewood Estates
2 to 3 Bedroom Apartments

Edgewood Estates

721 Eldene LnRapid City, SD 57701
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318 National St
1 to 2 Bedroom Apartments

318 National St

318 National StRapid City, SD 57702
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Sundial Square
1 to 4 Bedroom Apartments

Sundial Square

118 Waterloo StRapid City, SD 57701
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Moonlight Apartments
Studio to 2 Bedroom Apartments

Moonlight Apartments

1062 Valley DrRapid City, SD 57703
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CARRIAGE GREEN
1 to 3 Bedroom Apartments

CARRIAGE GREEN

4205 Elm AveRapid City, SD 57701

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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Rapid City, SD Local Guide

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Local Guide Expert

Cheapest Neighborhoods for Apartments in Rapid City, SD

Pricing Updated: 12/16/2025

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$1,478$547109

Cheapest Available Rapid City Apartments for Rent

 

The cheapest available apartment rental in Rapid City, SD is a 1 Bed unit found at Heartland Heights priced from $435. Civic Plaza Apartments in the Downtown Rapid City neighborhood has the second lowest priced unit, which is a 2 Beds apartment currently listed from $865. Here is today’s list of the most affordable Rapid City apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Heartland Heights1 Bedroom 1 Bathroom1BR,1BA$435
Civic Plaza Apartments2 Bedroom Garden Level2BR,1BA$865
The Place at HaineswayOne Bed, One Bath1BR,1BA$875
The Place at Estes ParkOne Bed One Bath1BR,1BA$950
Enchanted PinesStudioStudio,1BA$950
Moonlight Apartment ComplexStudioStudio,1BA$975
CARRIAGE GREENOpen living space + spacious master *WAITLIST*1BR,1BA$975
Rapid Creek Apartments3Bed/2Bath3BR,2BA$979
Country Bluff ApartmentsThe Jefferson1BR,1BA$995

Best Value Apartments for Rent in Rapid City, SD

As of December 17, 2025 the best value apartment in the Rapid City area is the $0.53 price per square foot 1908 W Main St Model at 1908 W Main St in the in the Downtown Rapid City neighborhood starting from $900. 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.
1908 W Main St1908 W Main St3BR,1BA$0.53
Southern Cross Apartments3b2b WD Southern3BR,2BA$1.11
518 Columbus St, Unit 518 Columbus B518 Columbus St1BR,1BA$0.83
Boulder Creek ApartmentsBoulder Two Bedroom2BR,2BA$1.13
Countryside Apartments2Bedroom 2bathroom2BR,2BA$1.20
Rapid Creek Apartments3Bed/2Bath3BR,2BA$0.98
Vista Pointe ApartmentsTwo BR RE townhouse apt2BR,1BA$1.16
Bridgewood EstatesSpacious living + master walk-in closet *WAITLIST*2BR,1BA$1.14
The Place at HaineswayTwo Beds, One Bath2BR,1BA$1.10
Heartland Heights2 Bedroom 1 Bathroom2BR,1BA$0.88

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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Quick 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.

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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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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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Rapid City, SD Apartments Map
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Rapid City, SD Rental Homes Map

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 $995.

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

The cheapest apartment in Rapid City is Heartland Heights which is listed at $435, while the average apartment in Rapid City costs $1,478.

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 12 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 $502 which is $976 cheaper than the average rent for all rentals in Rapid City.

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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Renting with Roommates: Realistic Expectations for Shared Lease

Written by: Christine Leonard, Esq.

Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.

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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.