Cheap Apartments for Rent in the Downtown Sioux Falls Neighborhood of Sioux Falls, SD from $300 (18 Rentals)

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

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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YMCA
Studio to 4 Bedroom Apartments

YMCA

230 S Minnesota AveSioux Falls, SD 57104

Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

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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

The Art of the Rental Viewing: What to look for during a property tour

Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

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Showing Results 1-18, 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 1 Bed unit found at YMCA priced from $408. Irving Center Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $544. Here are the most affordable Downtown Sioux Falls apartments for rent in Sioux Falls, SD:

Apartment ListingModel NameBed/BathPriced From
YMCA1 Bedroom / 1 Bathroom1BR,1BA$408
Irving Center Apartments1 Bedroom 1 Bathroom1BR,1BA$544
Falls View ApartmentsRushmoreStudio,1BA$599
Albert HouseStudioStudio,1BA$650
River Tower ApartmentsStudioStudio,1BA$659

Best Value Apartments for Rent in Downtown Sioux Falls, SD

As of December 29, 2025 the best value apartment in the Downtown Sioux Falls area is the $1.50 price per square foot 2Bed/2Bath Model at The Residences at Security National in the in the Northeast Sioux Falls neighborhood starting from $2,400. The second greatest value Downtown Sioux Falls apartment is the 3 Bedrooms / 2 Bathrooms Model at Minnesota Apartments starting at $801 with a $0.64 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.
The Residences at Security National2Bed/2Bath2BR,2BA$1.50
Minnesota Apartments3 Bedrooms / 2 Bathrooms3BR,2BA$0.64
Albert House1 Bed / 1 Bath1BR,1BA$0.83
Prescott Place Apartments, LLC2Bed/2Bath2BR,2BA$1.48
Uptown Exchange Lofts1 Bedroom 1 Bathroom1BR,1BA$1.38
City Center Apartments2 402BR,1BA$1.14
YMCA1 Bedroom / 1 Bathroom1BR,1BA$0.56
Pinnacle Point Apartments1 Bedroom 1 Bathroom Apartment (C)1BR,1BA$1.43
Parkway Apartments1 Bedroom 1 Bathroom1BR,1BA$1.45
Falls View ApartmentsRushmoreStudio ,1BA$1.50

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

Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.

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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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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 #5

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

Pet Friendliness Lifestyle Score

3.0
Pet Friendly

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Frequently Asked Questions about Cheap Downtown Sioux Falls Apartments

What is a cheap apartment in Downtown Sioux Falls?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Downtown Sioux Falls is under $925.

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

The cheapest apartment in Downtown Sioux Falls is YMCA which is listed at $408, while the average apartment in Downtown Sioux Falls costs $1,986.

What types of apartments are the cheapest in Downtown 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 24 regular apartments in Downtown Sioux Falls that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

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 Experts 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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How to Make Your Apartment Holiday-Ready: Renter-Friendly Tips

Written by: Justin Habersaat

Getting your apartment ready for the holidays can be exciting but sometimes challenging in a smaller space. Here are some modern tips to keep things festive, safe, and inviting this season.

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Renting with Roommates: Realistic Expectations for Shared Lease

Written by: Christine Leonard, Esq.

Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.

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Apartment Common Area Rules: What Renters Need to Know

Written by: Christine Leonard, Esq.

Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.