Cheap Apartments for Rent in Sioux Falls, SD from $546 (315 Rentals)

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

property at 1328 E 3rd St
$650 - $750
1 Bedroom Rentals
Available Now
Affordability

1328 E 3rd St

Sioux FallsSD57103
property at 405 S Sycamore Ave
$675 - $775
1 Bedroom Rentals
Available Now
Affordability

405 S Sycamore Ave

Sioux FallsSD57110

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property at 116 N Van Eps Ave
$700 - $800
2 Bedroom Rentals
Available Now
Cost Per Sq.Ft.

116 N Van Eps Ave

Sioux FallsSD57103

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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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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Sioux Falls, SD Local Guide

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Written By:
Staff Writer
Local Guide Expert

Cheapest Neighborhoods for Apartments in Sioux Falls, SD

Pricing Updated: 09/28/2026

Current apartment rentals in the Sioux Falls, SD area range in price from $546 to $5,574 with an overall median price of $1,120. The three Sioux Falls neighborhoods with the lowest median rent pricing are Empire Mall at $871, Southwest Sioux Falls at $955, and East Sioux Falls at $962. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Sioux Falls Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Empire Mall$871$677157
Southwest Sioux Falls$955$677145
East Sioux Falls$962$54623
Western Mall$1,025$677246
Prairie Tree$1,090$677199
Northwest Sioux Falls$1,115$597104
Central Sioux Falls$1,165$55035
Crown Pointe$1,172$665235
Mystic Meadows$1,195$546277
Northeast Sioux Falls$1,200$546102

Cheapest Available Sioux Falls Apartments for Rent

 

The cheapest available apartment rental in Sioux Falls, SD is a 2 Beds unit found at GEPC Properties Plex in the Northeast Sioux Falls neighborhood priced from $499. Forty One Flats has the second lowest priced unit, which is a 1 Bed apartment currently listed from $510. Here is today’s list of the most affordable Sioux Falls apartments for rent:

Apartment ListingModel NameBed/BathPriced From
GEPC Properties Plex2BR/1.0BA2BR, 1BA$499
Forty One Flats1 Bedroom 1 Bathroom1BR, 1BA$510
EastPark ApartmentsOne Bedroom One Bath1BR, 1BA$515
Midtown Heights1 Bedroom 1 Bathroom1BR, 1BA$525
360 N Main Ave3 Bedroom, 1 Bath Layout3BR, 1BA$549
Lakeport Village Apartments2/1 - LV2BR, 1BA$597
Norton Estates2/1.52BR, 1BA$597
Cleveland Heights Apartments?? BEAT THE COLD — MOVE INTO YOUR NEW HOME FOR ...1BR, 1BA$600
Taylor's Place ApartmentsSAY GOODBYE TO SUMMER AND HELLO TO SAVINGS! 1 B...1BR, 1BA$600
Turning LeafHOT SIZZLIN SUMMER BLOW OUT! 1 BEDROOM $600! $5...1BR, 1BA$600

Best Value Apartments for Rent in Sioux Falls, SD

As of September 28, 2026 the best value apartment in the Sioux Falls area is the $0.80 price per square foot 2 Bedroom 1 Bathroom Model at Riverview Apartments starting from $940. The second greatest value Sioux Falls apartment is the 2BR/1.5BA Model at Diplomat Apartments in the East Sioux Falls neighborhood starting at $850 with a $0.81 price per square foot. Here is today’s list of the best values for Sioux Falls apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Riverview Apartments2 Bedroom 1 Bathroom2BR, 1BA$0.80
Diplomat Apartments2BR/1.5BA2BR, 1.5BA$0.81
Kings Kourt Apartments2 Bedroom 1 Bathroom with deck2BR, 1BA$0.80
360 N Main Ave3 Bedroom, 1 Bath Layout3BR, 1BA$0.60
Norton Estates2/1.52BR, 1.5BA$0.69
Taylor's Place ApartmentsNEW SEASON, NEW HOME! 1 BEDROOM 1 BATH, $500 DE...1BR, 1BA$0.75
Cleveland Heights Apartments?? BEAT THE COLD — MOVE INTO YOUR NEW HOME FOR ...1BR, 1BA$0.77
Midtown Heights1 Bedroom 1 Bathroom1BR, 1BA$0.74
EastPark ApartmentsOne Bedroom One Bath1BR, 1BA$0.77
GEPC Properties Plex2BR/1.0BA2BR, 1BA$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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Navigating the Rental Market: Tips for First-Time Renters

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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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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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Sioux Falls Overview

If you’re looking for apartments in Sioux Falls, SD, you’re looking in a wonderful midwestern American city. From arts to festivals to parks, there is never a lack of something to do in Sioux Falls. There are many opportunities to explore history and culture in this city that boasts a small town atmosphere. Compared to many other American cities, commuters living in Sioux Falls apartments face an easy and stress-free commute. Known for being in the “Heart of America,” Sioux Falls is the perfect city whether you’re looking to raise your family, build your career, or settle down and retire.

Why live in Sioux Falls, SD?

Why not Sioux Falls? It boasts a perfect combination of small town and big city. Sioux Falls is big enough to offer many opportunities, while not being as overwhelming as big cities can be. The small town feel provides a great environment to raise a family. Located in the heart of America, Sioux Falls is also within driving distance of many major U.S.cities and landmarks, but with parks, restaurants, shopping, sports, museums, and more, you may never even want to leave.

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

Explore Sioux Falls, SD Rentals by Map

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Sioux Falls, SD Area Reviews

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Ashley • 4+ years in Sioux Falls

October 22, 2025

Sioux Falls is an affordable Midwestern city with lots to offer! The Downtown area has tons of local shops and restaurants, and I love visiting Falls Park in the winter. It's a great place to live!

Frequently Asked Questions about Cheap Sioux Falls Apartments

What is a cheap apartment in Sioux Falls?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Sioux Falls is under $600.

What is the price of a cheap apartment in Sioux Falls?

The cheapest apartment in Sioux Falls is Forty One Flats which is listed at $510, while the average apartment in Sioux Falls costs $1,120.

What types of apartments are the cheapest in Sioux Falls?

Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 54 regular apartments in Sioux Falls that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

How do the prices of cheap apartments compare to the average apartment in Sioux Falls?

Cheap apartments in Sioux Falls have an average cost of $823 which is $297 cheaper than the average rent for all rentals in Sioux Falls.

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 Smart: A Local Expert's Secrets to Finding Budget Neighborhoods for Renting in Sioux Falls

Written by: Ashley White

I'm Ashley, your ApartmentHomeLiving.com Local Expert for Sioux Falls, South Dakota. I grew up in nearby Lennox and went to Augustana University.

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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.

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How Commercial-to-Residential Property Conversions Help the Housing Crisis

Written by: Robin Stewart

Many housing markets throughout America share a common complaint: a lack of affordable rental properties.

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Exploring Rental Options: Apartments, Townhomes, and Lofts - Oh My!

Written by: Robin Stewart

Where do you see yourself? When you think of home, sweet home, are you in a 3/2 apartment? Dreaming of a tall townhome? Maybe an industrial loft heavy on cool vibes is on your visioning board.