Cheap Homes for Rent in Downtown Rapid City Neighborhood of Rapid City, SD from $500 (18 Rentals)

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Search the lowest-cost Homes 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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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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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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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 Studio unit found at The Place at Hainesway priced from $730. 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 HaineswayStudioStudio,1BA$730
Civic Plaza Apartments2 Bedroom Garden Level2BR,1BA$865
The Place at Estes ParkOne Bed One Bath1BR,1BA$950
Rapid Creek Apartments3Bed/2Bath3BR,2BA$979
The RadiantOne Bedroom Market Rate1BR,1BA$1,050

Best Value Apartments for Rent in Downtown Rapid City, SD

As of December 31, 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
Sheridan Lake ApartmentsThe Stanford2BR,2BA$1.27
KC Lofts2 bed2BR,1BA$1.73
The RadiantOne Bedroom Market Rate1BR,1BA$1.45
Harmony HeightsThe Bluff1BR,1BA$1.78
The Place at Estes ParkOne Bed One Bath1BR,1BA$1.38
Civic Plaza Apartments2 Bedroom Garden Level2BR,1BA$1.29
618 Saint Joseph St, Unit #4618 Saint Joseph St1BR,1BA$1.92
The Place at HaineswayStudioStudio ,1BA$2.43

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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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

3.0
Pet Friendly

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

School data provided by Great Schools

Frequently Asked Questions about Downtown Rapid City

What type of rentals are currently available in Downtown Rapid City?

There are currently 64 Apartments for Rent in Downtown Rapid City, SD with pricing that ranges from $547 to $3,045. There are also 36 Single Family Homes for rent, Condos, and Townhome rentals currently available in Downtown Rapid City ranging from $500 to $2,250.

What is the current price range for Rental Homes in Downtown Rapid City?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Downtown Rapid City ranges from $500 to $2,250 with an average monthly rent of $1,396.

How much are larger Three and Four Bedroom Rentals in Downtown Rapid City?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Downtown Rapid City range from $979 to $1,920, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,450 to $1,900. Four Bedroom Single-Family rentals are also available starting from $500 and Four Bedroom Apartments start at $1,058.

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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How to Make Your Apartment Holiday-Ready: Renter-Friendly Tips

Written by: Justin Habersaat

Getting your apartment ready for the holidays can be exciting but sometimes challenging in a smaller space. Here are some modern tips to keep things festive, safe, and inviting this season.

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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!