Cheap Apartments for Rent in Rapid City, SD from $400 (86 Rentals)

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

property at 1219 5th St

$650 - $850

1 Bedroom Rentals

Available May 21

1219 5th St

Rapid CitySD57701
property at 1614 Custer St

$825

Total Monthly Price

Total Monthly Price

Base Rent
$825
Total Monthly Price
$825

1 Bedroom, 1 Bath Home for Rent

Available Now

1614 Custer St

Rapid CitySD57701

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Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

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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: 04/28/2026

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$54770

Cheapest Available Rapid City Apartments for Rent

 

The cheapest available apartment rental in Rapid City, SD is a Studio unit found at The Place at Hainesway in the Downtown Rapid City neighborhood priced from $730. The Radiant in the Downtown Rapid City neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $784. Here is today’s list of the most affordable Rapid City apartments for rent:

Apartment ListingModel NameBed/BathPriced From
The Place at HaineswayStudioStudio,1BA$730
The RadiantOne Bedroom 50%1BR,1BA$784
Civic Plaza Apartments2 Bedroom Garden Level2BR,1BA$865
Bridgewood EstatesOpen living space + spacious master *WAITLIST*1BR,1BA$900
Enchanted PinesStudioStudio,1BA$950
CARRIAGE GREENOpen living space + spacious master *WAITLIST*1BR,1BA$975
The Place at Estes ParkTwo Bed Two Bath2BR,2BA$995
Moonlight Apartment ComplexStudioStudio,1BA$995
318 National St2/12BR,1BA$995

Best Value Apartments for Rent in Rapid City, SD

As of April 28, 2026 the best value apartment in the Rapid City area is the $1.27 price per square foot 3 Beds, 2 baths Model at Stonegate Community in the starting from $1,495. The second greatest value Rapid City apartment is the 2b1b Southern Model at Southern Cross Apartments starting at $1,150 with a $1.15 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.
Stonegate Community3 Beds, 2 baths3BR,2BA$1.27
Southern Cross Apartments2b1b Southern2BR,1BA$1.15
The Place at Estes ParkTwo Bed Two Bath2BR,2BA$1.03
Vista Pointe Apartments2-Bed 1 Bath2BR,1BA$1.32
The Pines at Rapid1/11BR,1BA$1.32
Orchard MeadowsOne Bedroom1BR,1BA$1.33
23839 S Rockerville Rd, Unit Studio23839 S Rockerville Rd1BR,1BA$1.33
Bridgewood EstatesOpen living space + spacious master *WAITLIST*1BR,1BA$1.22
720 Haines Ave, Unit B720 Haines Ave2BR,1BA$1.30
Civic Plaza Apartments2 Bedroom Garden Level2BR,1BA$1.29

10 Hidden Costs of Renting You Should Budget for Before Signing a Lease

Avoid financial stress when renting. Learn about the 10 most common hidden costs—from pet fees to utilities—you must budget for before you sign a lease.

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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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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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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.

Best Local Schools in
Rapid City, SD

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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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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 The Radiant which is listed at $784, 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 4 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 $202 which is $1,276 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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Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts

Written by: Lauren Harrington

This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.

decorative image for What Does “Rent Burdened” Mean? How Much Rent Is Too Much article

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Written by: Lauren Harrington

This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.

decorative image for Maximizing Your Refund: Essential Tax Tips for Renters article

Maximizing Your Refund: Essential Tax Tips for Renters

Written by: Christine Leonard, Esq.

Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.

decorative image for 18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property article

18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

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Renting your next home can feel thrilling and overwhelming at the same time.