Cheap Apartments for Rent in Salem, SD from $500 (43 Rentals)

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Hill Center Apartments
Studio to 2 Bedroom Apartments

Hill Center Apartments

361 S Hill StSalem, SD 57058
  • 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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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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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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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

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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Greenridge Apartments
1 Bedroom Apartments

Greenridge Apartments

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

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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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
Showing Results 1-43, 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 1 Bed unit found at Hill Center Apartments priced from $600. Forty One Flats has the second lowest priced unit, which is a 2 Beds apartment currently listed from $612. Here is today’s list of the most affordable Salem apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Hill Center Apartments1 Bed 1 Bath1BR,1BA$600
Forty One Flats2 Bedroom 1 Bathroom2BR,2BA$612
Egan Avenue ResidenceBedroom C1BR,1BA$645
Yukon at BensonStudioStudio,1BA$795
Village Centre Building IIIUnit KStudio,1BA$825
Maple Pass Apartments & TownhomesRent Special - Studio AptsStudio,1BA$870
Sunset Villas Apartments1 Bed 1 Bath Apartment1BR,1BA$890
Silos at Ellis CrossingApartment Style- 1 Bedroom 1 Bathroom1BR,1BA$900
Stoney Creek Townhomes2 Bedroom 1 Bathroom2BR,1BA$925
Jefferson Reserve1 Bed 1 Bath Apartment1BR,1BA$980

Best Value Apartments for Rent in Salem, SD and Nearby

As of June 10, 2026 the best value apartment in the Salem area is the $1.01 price per square foot 3 Bedroom 2.5 Bathroom Townhome Model at Pinnacle Townhomes in the in the Northwest Sioux Falls neighborhood starting from $1,865. The second greatest value Salem apartment is the 2 Bedroom Model at Lake Area Townhomes starting at $1,285 with a $1.03 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$1.01
Lake Area Townhomes2 Bedroom2BR,2.5BA$1.03
41st Street Commonsc13BR,2BA$1.18
Marion Crossing Apartments2 Bed 1 Bath Apartment2BR,1BA$1.02
Stoney Creek Townhomes3 Bedroom 1.5 Bathroom3BR,1.5BA$1.05
Boulder Creek Apartments2bd2ba2BR,2BA$1.10
Hillcrest Heights Apartments2 Bedroom 2 Bathroom Apartment2BR,2BA$1.19
Westview Heights Apartments, LLC2Bed/2Bath2BR,2BA$1.28
Aspen Commons2 Bedroom 2 Bathroom2BR,2BA$1.28
Forty One Flats2 Bedroom 1 Bathroom2BR,2BA$0.77

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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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 Yukon at Benson listed at $795.

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

The lowest price for a Cheap One Bedroom Salem Apartment is $600 at Hill Center Apartments.

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 Stoney Creek Townhomes and starts from $1,145.

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

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

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.

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Pet-Friendly Renting: Everything You Need to Know Before You Move

Written by: Christine Leonard, Esq.

For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.

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Creative Ways Developers Reimagine Retail Spaces as Residential Units

Written by: Robin Stewart

Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.

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Neighborhood and Market Insights: How to Choose the Right Area to Rent

Written by: Robin Stewart

Apartment-hunting can be a gargantuan task. Renters have a wish list of items—some luxuries, some necessities—but finding what you seek in the right place is perhaps the most important part of the journey.