Cheap Apartments for Rent in the Downtown Rapid City Neighborhood of Rapid City, SD from $400 (38 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Downtown Rapid City area of 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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Sundial Square
1 to 4 Bedroom Apartments

Sundial Square

118 Waterloo StRapid City, SD 57701
  • Utilities Included
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The Radiant
1 to 2 Bedroom Apartments

The Radiant

28 Racine StRapid City, SD 57701
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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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West Park Apartments
1 Bedroom Apartments

West Park Apartments

1018 11th StRapid 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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Showing Results 1-38, 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 Penney-Haines, LLC priced from $620. Briarwood Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $735. Here are the most affordable Downtown Rapid City apartments for rent in Rapid City, SD:

Apartment ListingModel NameBed/BathPriced From
Penney-Haines, LLCOne Bedroom/Small1BR,1BA$620
Briarwood Apartments1 Bedroom Apt1BR,1BA$735
Civic Plaza Apartments2 Bedroom Garden Level2BR,1BA$865
The RadiantOne Bedroom 60%1BR,1BA$953
The Place at Estes ParkTwo Bed Two Bath2BR,2BA$1,049
Harmony HeightsThe Bluff1BR,1BA$1,250
Block5OreStudio,1BA$1,265
KC Lofts2 bed2BR,1BA$1,295
The Elements, LLC1Bed/1Bath1BR,1BA$1,300

Best Value Apartments for Rent in Downtown Rapid City, SD

As of June 22, 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 $1,402 with a $1.40 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$1.40
The Place at Estes ParkTwo Bed Two Bath2BR,2BA$1.08
The Elements, LLC1Bed/1Bath1BR,1BA$1.68
KC Lofts2 bed2BR,1BA$1.73
The RadiantOne Bedroom 60%1BR,1BA$1.32
Briarwood Apartments1 Bedroom Apt1BR,1BA$1.09
Civic Plaza Apartments2 Bedroom Garden Level2BR,1BA$1.29
220 E Denver St, Unit 220.5220 E Denver StStudio ,1BA$1.54
Penney-Haines, LLCTwo Bedroom/carpet2BR,1BA$1.65

Quick Rent Budget Calculator

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Pet Friendly Lifestyle
Downtown Rapid City, Rapid City, SD

Ranked #1

Among neighborhoods in Rapid City, SD 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 a cheap apartment in Downtown Rapid City?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Downtown Rapid City is under $1,300.

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

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

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 6 regular apartments in Downtown Rapid City that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

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.