Cheap Apartments for Rent in the Downtown Sioux Falls Neighborhood of Sioux Falls, SD from $300 (30 Rentals)

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

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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YMCA
Studio to 4 Bedroom Apartments

YMCA

230 S Minnesota AveSioux Falls, SD 57104

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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Newman Nine-Plex
1 Bedroom Apartments

Newman Nine-Plex

316 E 15 StSioux Falls, SD 57104
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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

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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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. Albert House has the second lowest priced unit, which is a Studio apartment currently listed from $650. 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
Albert HouseStudioStudio,1BA$650
Parkway ApartmentsStudioStudio,1BA$665
Minnesota Apartments3 Bedrooms / 2 Bathrooms3BR,2BA$817
Phillips Apartments1 Bed, 1 bath1BR,1BA$850
Pinnacle Point ApartmentsStudio ApartmentStudio,1BA$895
Phoenix Properties2 bedroom2BR,1BA$950
City Center Apartments1 501BR,1BA$975
The Cascade at The Steel DistrictThe BettieStudio,1BA$995

Best Value Apartments for Rent in Downtown Sioux Falls, SD

As of June 23, 2026 the best value apartment in the Downtown Sioux Falls area is the $0.92 price per square foot 3 Beds, 1.5 baths Model at 305 N Indiana Ave in the in the Northeast Sioux Falls neighborhood starting from $1,400. The second greatest value Downtown Sioux Falls apartment is the 2 Bedroom 2 Bathroom Apartment Model at Dakota Lofts Downtown starting at $1,485 with a $1.02 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.
305 N Indiana Ave3 Beds, 1.5 baths3BR,1.5BA$0.92
Dakota Lofts Downtown2 Bedroom 2 Bathroom Apartment2BR,2BA$1.02
Minnesota Apartments3 Bedrooms / 2 Bathrooms3BR,2BA$0.65
Phoenix Properties2 bedroom2BR,1BA$0.95
The Residences at Security National1Bed/1Bath1BR,1BA$1.34
Uptown Exchange Lofts1 Bedroom 1 Bathroom1BR,1BA$1.38
Carmel Estates1/11BR,1BA$1.28
Third Avenue Lofts1B1B1BR,1BA$1.49
Phillips Apartments1 Bed, 1 bath1BR,1BA$1.19
Parkway ApartmentsStudioStudio ,1BA$1.48

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

3.5
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 $795 at Parkway 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 $925 at Phillips Apartments.

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 Rent Smart: A Local Experts Secrets to Finding Budget Neighborhoods for Renting in Sioux Falls article

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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Apartment Occupancy Rates: Renter Attraction vs Renter Retention

Written by: Robin Stewart

There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.

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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.