723 S 4th Ave
Sioux FallsSD57104
Cheap Homes for Rent in the Downtown Sioux Falls Neighborhood of Sioux Falls, SD from $650 (2 Rentals)
Search the lowest-cost Homes 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.
616 S Duluth Ave
Sioux FallsSD57104
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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Downtown Sioux Falls, Sioux Falls, SD Local Guide
How much does it cost to rent a home in Downtown Sioux Falls?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Downtown Sioux Falls 2 Bedroom Homes for Rent | $1,235 | $795 | $1,500 |
| Downtown Sioux Falls 3 Bedroom Homes for Rent | $1,416 | $1,200 | $1,545 |
| Downtown Sioux Falls 4 Bedroom Homes for Rent | $1,695 | $1,695 | $1,695 |
Browse Homes for Rent in this Neighborhood
There are currently 2 rentals with your search options within a 2 mile radius of the Downtown Sioux Falls Neighborhood of Sioux Falls, SD.
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Downtown Sioux Falls, Sioux Falls, SD Local Guide
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Best Value Apartments for Rent in Downtown Sioux Falls, SD
As of September 13, 2026 the best value apartment in the Downtown Sioux Falls area is the $1.15 price per square foot 2 Bedrooms / 2 Bathrooms Model at Uptown Exchange Lofts in the in the Northeast Sioux Falls neighborhood starting from $1,575. The second greatest value Downtown Sioux Falls apartment is the 2 Bedroom Corner Unit Model at Gourley Building starting at $1,725 with a $1.29 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 Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Uptown Exchange Lofts | 2 Bedrooms / 2 Bathrooms | 2BR,2BA | $1.15 |
| Gourley Building | 2 Bedroom Corner Unit | 2BR,2BA | $1.29 |
| Third Avenue Lofts | 2B2BHC | 2BR,2BA | $1.58 |
| Phillips Avenue Lofts | 1 Bedroom 1 Bathroom | 1BR,1BA | $1.44 |
| Dakota Lofts Downtown | 1 Bedroom 1 Bathroom Apartment | 1BR,1BA | $1.47 |
| Carmel Estates | 1/1 | 1BR,1BA | $1.28 |
| Phillips Apartments | 1 Bed, 1 bath | 1BR,1BA | $1.19 |
| 703 S Dakota Ave | 2 BD Layout | 2BR,1BA | $1.29 |
| Beadle West Apartments | 1Bd/1Ba A RM | 1BR,1BA | $1.34 |
| Parkway Apartments | 1 Bedroom 1 Bathroom | 1BR,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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Navigating the Rental Market: Tips for First-Time Renters
Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.
Read ArticleReal 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
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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 LifestyleDowntown Sioux Falls, Sioux Falls, SD
Ranked #3
Among cities in South Dakota for Apartment listings with Pet Friendly Amenities.
Pet Friendliness Lifestyle Score
4.0Pet Friendly
Frequently Asked Questions about Downtown Sioux Falls
What type of rentals are currently available in Downtown Sioux Falls?
There are currently 78 Apartments for Rent in Downtown Sioux Falls, SD with pricing that ranges from $625 to $5,641. There are also 10 Single Family Homes for rent, Condos, and Townhome rentals currently available in Downtown Sioux Falls ranging from $650 to $1,695.
What is the current price range for Rental Homes in Downtown Sioux Falls?
Today's rental pricing for Homes for Rent, Condos and Townhomes in Downtown Sioux Falls ranges from $650 to $1,695 with an average monthly rent of $1,229.
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
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.
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.
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.
Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags
Written by: Robin Stewart
Renters want to find a great apartment, the right place for them, one that checks all the boxes of location, rental cost, amenities, safety, and more.