Cheap Homes for Rent in Rapid City, SD from $500 (27 Rentals)

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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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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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Showing Results 1-27, Page 1 of 1

Rapid City, SD Local Guide

Cheapest Neighborhoods for Apartments in Rapid City, SD

Pricing Updated: 01/01/2026

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$54799

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. 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
The Place at HaineswayStudioStudio,1BA$730
Civic Plaza Apartments2 Bedroom Garden Level2BR,1BA$865
Bridgewood EstatesOpen living space + spacious master *WAITLIST*1BR,1BA$900
The Place at Estes ParkOne Bed One Bath1BR,1BA$950
Enchanted PinesStudioStudio,1BA$950
Moonlight Apartment ComplexStudioStudio,1BA$975
CARRIAGE GREENOpen living space + spacious master *WAITLIST*1BR,1BA$975
Rapid Creek Apartments3Bed/2Bath3BR,2BA$979
Split Creek CommonsCherry StudioStudio,1BA$995
Tallgrass ApartmentsAStudio,1BA$1,000

Best Value Apartments for Rent in Rapid City, SD

As of January 01, 2026 the best value apartment in the Rapid City area is the $1.11 price per square foot 3b2b WD Southern Model at Southern Cross Apartments in the starting from $1,400. The second greatest value Rapid City apartment is the 3 Beds, 2 baths Model at Stonegate Community starting at $1,495 with a $1.27 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.
Southern Cross Apartments3b2b WD Southern3BR,2BA$1.11
Stonegate Community3 Beds, 2 baths3BR,2BA$1.27
Founders Park VillageBrennan $1,0852BR,2BA$1.34
Rapid Creek Apartments3Bed/2Bath3BR,2BA$0.98
Sheridan Lake ApartmentsThe Stanford2BR,2BA$1.27
Vista Pointe ApartmentsTwo BR RE townhouse apt2BR,1BA$1.16
The Pines at Rapid1/11BR,1BA$1.29
Johnson Ranch Apartments1 Bedroom 1 Bathroom1BR,1BA$1.30
Bridgewood EstatesOpen living space + spacious master *WAITLIST*1BR,1BA$1.22
Civic Plaza Apartments2 Bedroom Garden Level2BR,1BA$1.29

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, SD
Population: 75,443

Ranked #469

in US Census Population by City

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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

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

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Rapid City, SD Rental Homes Map

Frequently Asked Questions about Rapid City

What type of rentals are currently available in Rapid City?

There are currently 142 Apartments for Rent in Rapid City, SD with pricing that ranges from $547 to $3,468. There are also 75 Single Family Homes for rent, Condos, and Townhome rentals currently available in Rapid City ranging from $500 to $5,550.

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

Today's rental pricing for Homes for Rent, Condos and Townhomes in Rapid City ranges from $500 to $5,550 with an average monthly rent of $1,841.

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

For those who are looking for larger living arrangements, Three Bedroom Apartments in Rapid City range from $979 to $3,302, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,395 to $3,000. 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!