Cheap Homes for Rent in Salem, SD from $700 (12 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.

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.

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 Copper Flats priced from $480. 41st Street Commons has the second lowest priced unit, which is a 1 Bed apartment currently listed from $770. Here is today’s list of the most affordable Salem apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Copper Flats1 Bedroom 1 Bathroom1BR,1BA$480
41st Street CommonsFlat Style 1 Bed/1Bath1BR,1BA$770
Lake Area Townhomes1 Bedroom1BR,1BA$820
University Hills VillageStudio - 559 sqftStudio,1BA$825
West Oaks EstatesEfficiency UnitStudio,1BA$849

Best Value Apartments for Rent in Salem, SD and Nearby

As of September 07, 2025 the best value apartment in the Salem area is the $0.97 price per square foot 3 Bedroom Model at Lake Area Townhomes in the starting from $1,500. The second greatest value Salem apartment is the 3 Bed 2 Bath Townhome Model at Maple Pass Apartments & Townhomes starting at $1,535 with a $1.14 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.
Lake Area Townhomes3 Bedroom3BR,2.5BA$0.97
Maple Pass Apartments & Townhomes3 Bed 2 Bath Townhome3BR,2BA$1.14
Fifth Street Apartments & TownhousesUpper Apartment3BR,2BA$1.20
Falls Park ApartmentsRushmore3BR,2BA$0.87
Boulder Creek Townhomes2bd2ba2BR,2BA$1.10
Copper Flats3 Bedroom 2 Bathroom3BR,2BA$0.96
West Briar2 Bedroom 1 Bath2BR,1BA$1.01
Sunset Villas Apartments2 Bed 2 Bath Apartment2BR,2BA$1.14
Stoney Creek Townhomes2 Bedroom 1 Bathroom2BR,1BA$1.07
Marion Crossing Apartments1 Bed 1 Bath Apartment1BR,1BA$1.20

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

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Frequently Asked Questions about Salem

What type of rentals are currently available in Salem?

There are currently 47 Apartments for Rent in Salem, SD with pricing that ranges from $399 to $3,491. There are also 44 Single Family Homes for rent, Condos, and Townhome rentals currently available in Salem ranging from $725 to $2,795.

What is the current price range for Rental Homes in Salem?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Salem ranges from $725 to $2,795 with an average monthly rent of $1,613.

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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Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Written by: Christine Leonard, Esq.

For many people, obstacles can arise during the rental application process for a variety of issues.

decorative image for The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro article

The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Written by: Christine Leonard, Esq.

Hard truth. Moving is never easy. I’ve done it all – from local moves to cross-country relocations From packing to unpacking the last box, I have found moving to be an exhausting, expensive and stressful experience every time.

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Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Written by: Christine Leonard, Esq.

Throughout the day, think about all the times that you have to pay for something. So many of us reach automatically for a credit card or even our phone for a quick payment.

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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.