Cheap Apartments for Rent in Salem, SD from $500 (48 Rentals)

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Search the lowest-cost Apartments available for rent right now in Salem.

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Hill Center Apartments
Studio to 2 Bedroom Apartments

Hill Center Apartments

361 S Hill StSalem, SD 57058
  • Utilities Included

Rent According to Income: A Look at Income-Restricted Rentals

Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.

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Renters Insurance 101: What It Is, What It Covers, and Why You Need It

From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.

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How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Finding the right apartment starts with three things: location, cost, and amenities. Get the insider perspective from a real estate professional on how to nail all three.

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Forty One Flats
1 to 4 Bedroom Apartments

Forty One Flats

8701 W 41st StSioux Falls, SD 57106
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Copper Flats
1 to 3 Bedroom Apartments

Copper Flats

2415 S Capital StMitchell, SD 57301
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Greenridge Apartments
1 Bedroom Apartments

Greenridge Apartments

1500 N Kimball StMitchell, SD 57301
Senior Living
  • Utilities Included

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.

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property at 223 N Main St

$800 - $875

1 Bedroom Rentals

Available Now

223 N Main St

MitchellSD57301
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Golden Prairie
1 to 3 Bedroom Apartments

Golden Prairie

2403 S Capital StMitchell, SD 57301
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Falls Park Apartments
3 to 4 Bedroom Apartments

Falls Park Apartments

3601 N Career AveSioux Falls, SD 57107
  • Utilities Included

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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Showing Results 1-48, Page 1 of 1

Salem, SD Local Guide

Cheapest Available Salem Apartments for Rent and Nearby

 

The cheapest available apartment rental in Salem, SD is a 2 Beds unit found at Forty One Flats priced from $612. Copper Flats has the second lowest priced unit, which is a 2 Beds apartment currently listed from $621. Here is today’s list of the most affordable Salem apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Forty One Flats2 Bedroom 1 Bathroom2BR,2BA$612
Copper Flats2 Bedroom 1 Bathroom2BR,1BA$621
Egan Avenue ResidenceBedroom C1BR,1BA$645
Aspen CommonsStudioStudio,1BA$810
Crooks Reserve1 Bedroom 1 Bathroom Apartment1BR,1BA$815
University Hills VillageK# Unit - Studio/1 BA - Non-SmokingStudio,1BA$875
Sunset Villas Apartments1 Bed 1 Bath Apartment1BR,1BA$875
Maple Pass Apartments & TownhomesRent Special - 1 Bedroom 1 Bath Apts1BR,1BA$895
Stoney Creek Townhomes2 Bedroom 1 Bathroom2BR,1BA$925
Parkview Apartments and Townhomes2 bedroom apartment2BR,1BA$935

Best Value Apartments for Rent in Salem, SD and Nearby

As of July 25, 2026 the best value apartment in the Salem area is the $1.07 price per square foot 3 Bedroom 2.5 Bathroom Townhome Model at Pinnacle Townhomes in the in the Northwest Sioux Falls neighborhood starting from $1,965. The second greatest value Salem apartment is the 3 Bedroom Model at Lake Area Townhomes starting at $1,535 with a $0.99 price per square foot . Here is today’s list of the best values for Salem apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Pinnacle Townhomes3 Bedroom 2.5 Bathroom Townhome3BR,2.5BA$1.07
Lake Area Townhomes3 Bedroom3BR,2.5BA$0.99
Marion Crossing Apartments2 Bed 1 Bath Apartment2BR,1BA$0.99
Stoney Creek Townhomes3 Bedroom 1.5 Bathroom3BR,1.5BA$1.05
Boulder Creek Apartments2bd/2ba Remodel2BR,2BA$1.18
West Oaks Estate2 bd, 2 ba Lower Level Unit2BR,2BA$1.06
Hillcrest Heights Apartments1 Bedroom 1 Bathroom + Den Apartment1BR,1BA$1.24
Forty One Flats2 Bedroom 1 Bathroom2BR,2BA$0.77
Copper Flats2 Bedroom 1 Bathroom2BR,1BA$0.78
Parkview Apartments and Townhomes2 bedroom apartment2BR,1BA$1.20

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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Real Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University

From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.

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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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Best Local Schools in
Salem, SD

School data provided by Great Schools

Remember the 3 Rules of Real Estate:
Location, Location, Location!

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Frequently Asked Questions about Cheap Salem Apartments

What is the Cheapest Studio apartment in Salem?

Currently the most affordable Cheap Studio Apartment in Salem is at Aspen Commons listed at $810.

How much is rent for a Cheap One Bedroom Salem Apartment?

The lowest price for a Cheap One Bedroom Salem Apartment is $645 at Egan Avenue Residence.

What is the lowest price for a Cheap Two Bedroom Salem Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Salem is starting from $612 at Forty One Flats.

What is the most affordable Salem Three Bedroom Apartment?

The best deal on a cheap Salem Three Bedroom Apartment rental is at Parkview Apartments and Townhomes and starts from $1,095.

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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Rent According to Income: A Look at Income-Restricted Rentals

Written by: Robin Stewart

The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.

decorative image for Renters Insurance 101: What It Is, What It Covers, and Why You Need It article

Renters Insurance 101: What It Is, What It Covers, and Why You Need It

Written by: Robin Stewart

Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.

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Apartment Occupancy Rates: Renter Attraction vs Renter Retention

Written by: Robin Stewart

There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.

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How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Written by: Robin Stewart

Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.