Cheap Apartments for Rent in the Downtown Sioux Falls Neighborhood of Sioux Falls, SD from $300 (25 Rentals)

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

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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YMCA
Studio to 4 Bedroom Apartments

YMCA

230 S Minnesota AveSioux Falls, SD 57104

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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Newman Nine-Plex
1 Bedroom Apartments

Newman Nine-Plex

316 E 15 StSioux Falls, SD 57104
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Albert House
Studio to 1 Bedroom Apartments

Albert House

333 N Phillips AveSioux Falls, SD 57104
Corporate Housing

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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703 S Dakota Ave
1 to 2 Bedroom Apartments

703 S Dakota Ave

703 S Dakota AveSioux Falls, SD 57104
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500 S Dakota Avenue
Studio to 1 Bedroom Apartments

500 S Dakota Avenue

500 S Dakota AveSioux Falls, SD 57104
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The Edge On Main
1 to 2 Bedroom Apartments

The Edge On Main

638 S Main AveSioux Falls, SD 57104
  • 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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Showing Results 1-25, Page 1 of 1

Downtown Sioux Falls, Sioux Falls, SD Local Guide

Cheapest Available Downtown Sioux Falls Apartments for Rent

 

The cheapest available apartment rental in the Downtown Sioux Falls area of Sioux Falls, SD is a Studio unit found at Falls View Apartments priced from $648. Parkway Apartments has the second lowest priced unit, which is a Studio apartment currently listed from $665. Here are the most affordable Downtown Sioux Falls apartments for rent in Sioux Falls, SD:

Apartment ListingModel NameBed/BathPriced From
Falls View ApartmentsRushmoreStudio,1BA$648
Parkway ApartmentsStudioStudio,1BA$665
River Tower ApartmentsStudioStudio,1BA$706
City Center Apartments1 401BR,1BA$721
Minnesota Apartments3 Bedrooms / 2 Bathrooms3BR,2BA$817

Best Value Apartments for Rent in Downtown Sioux Falls, SD

As of August 07, 2026 the best value apartment in the Downtown Sioux Falls area is the $1.01 price per square foot 2 Bedroom Model at Gourley Building in the in the Northeast Sioux Falls neighborhood starting from $1,600. The second greatest value Downtown Sioux Falls apartment is the 2 Bedroom 2 Bathroom Apartment Model at Dakota Lofts Downtown starting at $1,380 with a $0.95 price per square foot in the Northeast Sioux Falls neighborhood. Here is today’s list of the best values for Downtown Sioux Falls apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Gourley Building2 Bedroom2BR,1.5BA$1.01
Dakota Lofts Downtown2 Bedroom 2 Bathroom Apartment2BR,2BA$0.95
Uptown Exchange Lofts2 Bedrooms / 2 Bathrooms2BR,2BA$1.15
Minnesota Apartments3 Bedrooms / 2 Bathrooms3BR,2BA$0.65
Third Avenue Lofts2B2B2BR,2BA$1.36
Phoenix Properties2 bedroom2BR,1BA$0.95
The Residences at Security National1Bed/1Bath1BR,1BA$1.34
Carmel Estates1/11BR,1BA$1.28
Phillips Apartments1 Bed, 1 bath1BR,1BA$1.19
400 N Spring ave, Unit 2400 N Spring ave1BR,1BA$1.36

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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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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Pet Friendly Lifestyle
Downtown Sioux Falls, Sioux Falls, SD

Ranked #3

Among cities in South Dakota for Apartment listings with Pet Friendly Amenities.

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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Frequently Asked Questions about Cheap Downtown Sioux Falls Apartments

What is the Cheapest Studio apartment in Downtown Sioux Falls?

Currently the most affordable Cheap Studio Apartment in Downtown Sioux Falls is at Falls View Apartments listed at $648.

How much is rent for a Cheap One Bedroom Downtown Sioux Falls Apartment?

The lowest price for a Cheap One Bedroom Downtown Sioux Falls Apartment is $721 at City Center Apartments.

What is the lowest price for a Cheap Two Bedroom Downtown Sioux Falls Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Downtown Sioux Falls is starting from $950 at Phoenix Properties.

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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First Apartment Regrets: Real Renters Share What They'd Do Differently

Written by: Robin Stewart

Hindsight is 20/20. Live and Learn. With age comes wisdom. We’re familiar with all those expressions, and all of them apply to lessons first-time renters learn.

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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.