Cheap Apartments for Rent in Rapid City, SD from $400 (55 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
to
Lifestyle Matching SearchDone
Learn more about Lifestyle Search
By AmenitiesDone
By Community TypeDone
Features and AvailabilityDone
Done

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.

Read Article
property at 1935 38th St

1935 38th St

Rapid CitySD57702

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.

Read Article

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.

Read Article
close
View Me
Driftwood Estates
Studio to 3 Bedroom Apartments

Driftwood Estates

428 E Fairlane DrRapid City, SD 57701
  • Utilities Included
close
View Me
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.

Read Article
close
View Me
Penney-Haines, LLC
Studio to 2 Bedroom Apartments

Penney-Haines, LLC

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

Dakota Drive Apartments

701-733 Dakota DrRapid City, SD 57702
  • Utilities Included
close
View Me
Edgewood Estates
2 to 3 Bedroom Apartments

Edgewood Estates

721 Eldene LnRapid City, SD 57701
  • Utilities Included
close
View Me
318 National St
1 to 2 Bedroom Apartments

318 National St

318 National StRapid City, SD 57702
  • Utilities Included
close
View Me
Sundial Square
1 to 4 Bedroom Apartments

Sundial Square

118 Waterloo StRapid City, SD 57701
  • Utilities Included

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.

Read Article
Showing Results 1-50, Page 1 of 2

Rapid City, SD Local Guide

Photo of Staff Writer - Local Guide Expert
Written By:
Staff Writer
Local Guide Expert

Cheapest Neighborhoods for Apartments in Rapid City, SD

Pricing Updated: 11/01/2025

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$730124

Cheapest Available Rapid City Apartments for Rent

 

The cheapest available apartment rental in Rapid City, SD is a Studio unit found at BG Flats Apartments priced from $820. 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
BG Flats ApartmentsStudio ApartmentStudio,1BA$820
Civic Plaza Apartments2 Bedroom Garden Level2BR,1BA$865
The Place at HaineswayOne Bed, One Bath1BR,1BA$875
Bridgewood EstatesOpen living space + spacious master *WAITLIST*1BR,1BA$900
Champion Villas1 Bedroom 1 Bathroom Apartment1BR,1BA$920
Enchanted PinesStudioStudio,1BA$950
The Place at Estes ParkOne Bed One Bath1BR,1BA$950
The RadiantOne Bedroom 60%1BR,1BA$953
CARRIAGE GREENOpen living space + spacious master *WAITLIST*1BR,1BA$975
Moonlight Apartment ComplexStudioStudio,1BA$975

Best Value Apartments for Rent in Rapid City, SD

As of November 01, 2025 the best value apartment in the Rapid City area is the $0.89 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 $1,600. The second greatest value Rapid City apartment is the 811 Mallow St Model at 811 Mallow St, Unit 7 starting at $1,025 with a $0.93 price per square foot in the Downtown Rapid City neighborhood. 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$0.89
811 Mallow St, Unit 7811 Mallow St3BR,1BA$0.93
Johnson Ranch Apartments2 Bedroom 2 Bath2BR,2BA$1.20
Countryside Apartments2Bedroom 2bathroom2BR,2BA$1.20
Heartland Heights3 Bedroom 2 Bathroom3BR,2BA$0.94
Southern Cross Apartments2b1b Southern2BR,1BA$1.10
Rapid Creek Apartments3Bed/2Bath3BR,2BA$0.98
Sheridan Lake ApartmentsThe Windsor2BR,1BA$1.25
Champion Villas1 Bedroom 1 Bathroom Apartment1BR,1BA$1.15
Bridgewood EstatesOpen living space + spacious master *WAITLIST*1BR,1BA$1.22

Apartment Common Area Rules: What Renters Need to Know

From the lounge to the laundry room, understand your rights and responsibilities in shared apartment spaces. Get tips on pet rules, noise, and security.

Read Article
Decorative image

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 Article
Decorative image

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.

Read Article
Decorative image

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.

decorative image of people with a giant lease agreement

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

decorative image of people examining a giant globe and floating graphs

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

Decorative image of map

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

View Map
Rapid City, SD Apartments Map
View Map
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 $975.

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

The cheapest apartment in Rapid City is The Place at Hainesway which is listed at $875, 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 6 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 $738 which is $740 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.

decorative image for Apartment Common Area Rules: What Renters Need to Know article

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.

decorative image for How to Negotiate Your Apartment Lease and Save Money article

How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate! 

decorative image for The Rental Move-In Inspection Checklist: A Guide for Renters article

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.

decorative image for Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between article

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.