Cheap Apartments for Rent in the Downtown Rapid City Neighborhood of Rapid City, SD from $500 (35 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Downtown Rapid City area of 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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property at 725 West St

725 West 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.

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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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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
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Sundial Square
1 to 4 Bedroom Apartments

Sundial Square

118 Waterloo StRapid City, SD 57701
  • 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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1320 Quincy St
Studio to 3 Bedroom Apartments

1320 Quincy St

1320 Quincy StRapid City, SD 57701
Showing Results 1-35, Page 1 of 1

Downtown Rapid City, Rapid City, SD Local Guide

Cheapest Available Downtown Rapid City Apartments for Rent

 

The cheapest available apartment rental in the Downtown Rapid City area of Rapid City, SD is a 1 Bed unit found at The Place at Estes Park priced from $547. Civic Plaza Apartments has the second lowest priced unit, which is a 2 Beds apartment currently listed from $865. Here are the most affordable Downtown Rapid City apartments for rent in Rapid City, SD:

Apartment ListingModel NameBed/BathPriced From
The Place at Estes ParkOne Bed One Bath1BR,1BA$547
Civic Plaza Apartments2 Bedroom Garden Level2BR,1BA$865
The Place at HaineswayOne Bed, One Bath1BR,1BA$875
Rapid Creek Apartments3Bed/2Bath3BR,2BA$979
The RadiantOne Bedroom Market Rate1BR,1BA$1,050
Sheridan Lake ApartmentsThe Windsor2BR,1BA$1,190
Harmony HeightsThe Bluff1BR,1BA$1,250

Best Value Apartments for Rent in Downtown Rapid City, SD

As of November 23, 2025 the best value apartment in the Downtown Rapid City area is the $1.34 price per square foot Brennan $1,085 Model at Founders Park Village in the in the Downtown Rapid City neighborhood starting from $1,478. The second greatest value Downtown Rapid City apartment is the 3Bed/2Bath Model at Rapid Creek Apartments starting at $979 with a $0.98 price per square foot in the Downtown Rapid City neighborhood. Here is today’s list of the best values for Downtown Rapid City apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Founders Park VillageBrennan $1,0852BR,2BA$1.34
Rapid Creek Apartments3Bed/2Bath3BR,2BA$0.98
The Place at Estes ParkTwo Bed Two Bath2BR,2BA$1.11
Sheridan Lake ApartmentsThe Windsor2BR,1BA$1.25
207 Saint Andrew St, Unit Upstairs207 Saint Andrew St2BR,1BA$1.63
131 E Nowlin St, Unit 205131 E Nowlin St2BR,1BA$1.40
The RadiantOne Bedroom Market Rate1BR,1BA$1.45
Civic Plaza Apartments2 Bedroom Garden Level2BR,1BA$1.29
220 E Denver St, Unit 220.5220 E Denver StStudio ,1BA$1.54
The Place at HaineswayOne Bed, One Bath1BR,1BA$1.35

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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Pet Friendly Lifestyle
Downtown Rapid City, Rapid City, SD

Ranked #1

Among cities in South Dakota for Apartment listings with Pet Friendly Amenities.

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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Best Local Schools in
Downtown Rapid City, Rapid City, SD

School data provided by Great Schools

Getting Around the Downtown Rapid City Neighborhood in Rapid City, SD

Walk Score®

74 / 100

Very Walkable

Most errands can be accomplished on foot

Bike Score®

70 / 100

Very Bikeable

Biking is convenient for most trips

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 Downtown Rapid City Apartments

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

The cheapest apartment in Downtown Rapid City is The Place at Estes Park which is listed at $547, while the average apartment in Downtown Rapid City costs $1,478.

What types of apartments are the cheapest in Downtown 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 11 regular apartments in Downtown 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 Downtown Rapid City?

Cheap apartments in Downtown Rapid City have an average cost of $738 which is $740 cheaper than the average rent for all rentals in Downtown 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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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.

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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.