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
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Newman Nine-Plex
1 Bedroom Apartments

Newman Nine-Plex

316 E 15 StSioux 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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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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The Crane Centre
1 to 2 Bedroom Apartments

The Crane Centre

326 E 8th StSioux Falls, SD 57103
Showing Results 1-30, 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 $599. 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$599
Albert HouseStudioStudio,1BA$650
River Tower ApartmentsStudioStudio,1BA$662
Parkway ApartmentsStudioStudio,1BA$665
Minnesota Apartments3 Bedrooms / 2 Bathrooms3BR,2BA$817
Phillips Apartments1 Bed, 1 bath1BR,1BA$825
Prescott Place Apartments, LLC1Bed/1Bath1BR,1BA$895
Phoenix Properties2 Beds, 1 bath2BR,1BA$950
City Center Apartments1 501BR,1BA$975

Best Value Apartments for Rent in Downtown Sioux Falls, SD

As of May 08, 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 3 Beds, 1.5 baths Model at 305 N Indiana Ave starting at $1,400 with a $0.92 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
305 N Indiana Ave3 Beds, 1.5 baths3BR,1.5BA$0.92
Dakota Lofts Downtown2 Bedroom 2 Bathroom Apartment2BR,2BA$1.07
Minnesota Apartments3 Bedrooms / 2 Bathrooms3BR,2BA$0.65
Phoenix Properties2 Beds, 1 bath2BR,1BA$0.95
Uptown Exchange Lofts1 Bedroom 1 Bathroom1BR,1BA$1.38
714 S 1st Ave, Unit B714 S 1st Ave1BR,1BA$1.19
Carmel Estates1/11BR,1BA$1.28
Phillips Apartments1 Bed, 1 bath1BR,1BA$1.15
Prescott Place Apartments, LLC1Bed/1Bath1BR,1BA$1.35

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 $599.

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 $648 at Falls View 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

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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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A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back

Written by: Lauren Harrington

I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.

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Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts

Written by: Lauren Harrington

This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.

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What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Written by: Lauren Harrington

This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.