Cheap Homes for Rent in the Downtown Sioux Falls Neighborhood of Sioux Falls, SD from $800 (4 Rentals)

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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.

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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

Best Value Apartments for Rent in Downtown Sioux Falls, SD

As of July 30, 2026 the best value apartment in the Downtown Sioux Falls area is the $0.96 price per square foot 2 Bedroom 2 Bathroom Apartment Model at Dakota Lofts Downtown in the in the Northeast Sioux Falls neighborhood starting from $1,399. The second greatest value Downtown Sioux Falls apartment is the 3 Bedrooms / 2 Bathrooms Model at Minnesota Apartments starting at $817 with a $0.65 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.
Dakota Lofts Downtown2 Bedroom 2 Bathroom Apartment2BR,2BA$0.96
Minnesota Apartments3 Bedrooms / 2 Bathrooms3BR,2BA$0.65
Irving Center Apartments3 Bedroom 2 Bathroom3BR,2BA$1.07
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
Beadle West Apartments1Bd/1Ba A RM1BR,1BA$1.58
613 N Franklin Ave, Unit One613 N Franklin Ave2BR,1BA$1.55
Parkway Apartments1 Bedroom 1 Bathroom1BR,1BA$1.45

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 Downtown Sioux Falls

What type of rentals are currently available in Downtown Sioux Falls?

There are currently 71 Apartments for Rent in Downtown Sioux Falls, SD with pricing that ranges from $648 to $5,000. There are also 12 Single Family Homes for rent, Condos, and Townhome rentals currently available in Downtown Sioux Falls ranging from $850 to $2,495.

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 $850 to $2,495 with an average monthly rent of $1,483.

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.