Cheap Homes for Rent in Sioux Falls, SD from $500 (29 Rentals)

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Search the lowest-cost Homes available for rent right now in Sioux Falls.

property at 800 W 12th St

$595 - $845

Studio To 1 Bedroom Rentals

Available Now

800 W 12th St

Sioux FallsSD57104

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.

Read Article

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.

Read Article
property at 4600 S Louise Ave

$1,100 - $1,150

Total Monthly Price

Total Monthly Price

Base Rent
$1,100 - $1,150
Total Monthly Price
$1,100 - $1,150

2 Bedroom, 1 Bath Home for Rent

Available Now

4600 S Louise Ave

Sioux FallsSD57106

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.

Read Article
property at 234 Elmwood Ave

$1,200

3 Bedroom, 1 Bath Townhome for Rent

Available Now

234 Elmwood Ave

Sioux FallsSD57104
property at 2904 W 33rd St

$1,200

1 Bedroom, 1 Bath Condo for Rent

Available Now

2904 W 33rd St

Sioux FallsSD57105

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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Showing Results 1-29, Page 1 of 1

Sioux Falls, SD Local Guide

Cheapest Neighborhoods for Apartments in Sioux Falls, SD

Pricing Updated: 05/07/2026

Current apartment rentals in the Sioux Falls, SD area range in price from $546 to $5,150 with an overall median price of $1,557. The three Sioux Falls neighborhoods with the lowest median rent pricing are Central Sioux Falls at $595, East Sioux Falls at $546, and Empire Mall at $699. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Sioux Falls Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Central Sioux Falls$1,300$59591
East Sioux Falls$1,382$54620
Empire Mall$1,475$699111
Prairie Tree$1,475$699166
Southwest Sioux Falls$1,475$699116
Western Mall$1,475$595232
Crown Pointe$1,557$625265
Mystic Meadows$1,650$546292
Northeast Sioux Falls$1,650$546127
Southeast Sioux Falls$1,650$625285

Cheapest Available Sioux Falls Apartments for Rent

 

The cheapest available apartment rental in Sioux Falls, SD is a 1 Bed unit found at Technology Heights Apartments in the Northwest Sioux Falls neighborhood priced from $480. Forty One Flats has the second lowest priced unit, which is a 1 Bed apartment currently listed from $510. Here is today’s list of the most affordable Sioux Falls apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Technology Heights Apartments1 Bedroom / 1 Bathroom1BR,1BA$480
Forty One Flats1 Bedroom 1 Bathroom1BR,1BA$510
Midtown Heights1 Bedroom 1 Bathroom1BR,1BA$515
EastPark ApartmentsOne Bedroom One Bath1BR,1BA$515
Jefferson Village2 Bedroom 1 Bathroom2BR,1BA$585
Kenwood Manor ApartmentsStudioStudio,1BA$595
Falls View ApartmentsRushmoreStudio,1BA$599
Ridgeview Place Apartments0BR/1.0BAStudio,1BA$599
Arnold's Park Apartments1BR $600!! 2 BR $700 !! $500 DEPOSIT1BR,1BA$600
Timbercreek (TIM1908)$649 MONTHLY RENT!!! New Year Special!1BR,1BA$649

Best Value Apartments for Rent in Sioux Falls, SD

As of May 07, 2026 the best value apartment in the Sioux Falls area is the $0.65 price per square foot 3 Bedrooms / 2 Bathrooms Model at Minnesota Apartments in the in the Northeast Sioux Falls neighborhood starting from $817. The second greatest value Sioux Falls apartment is the 2 Bedrooms 1 Bathroom Townhome Model at YMCA starting at $814 with a $0.67 price per square foot in the Central Sioux Falls neighborhood. Here is today’s list of the best values for Sioux Falls apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Minnesota Apartments3 Bedrooms / 2 Bathrooms3BR,2BA$0.65
YMCA2 Bedrooms 1 Bathroom Townhome2BR,1BA$0.67
West Lake2BR/1.5BA2BR,1.5BA$0.78
The Whitney2bd1ba2BR,1BA$0.83
1804 S. STEPHEN AVE.2BR/1.5BA2BR,1.5BA$0.79
Cathy Ave Apartments2BR/1.5BA2BR,1.5BA$0.80
611 S Hawthorne Ave, Unit B611 S Hawthorne Ave1BR,1BA$0.74
Technology Heights Apartments1 Bedroom / 1 Bathroom1BR,1BA$0.67
EastPark ApartmentsOne Bedroom One Bath1BR,1BA$0.77
Midtown Heights1 Bedroom 1 Bathroom1BR,1BA$0.81

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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Remember the 3 Rules of Real Estate:
Location, Location, Location!

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Sioux Falls, SD Area Reviews

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Ashley • 4+ years in Sioux Falls

October 22, 2025

Sioux Falls is an affordable Midwestern city with lots to offer! The Downtown area has tons of local shops and restaurants, and I love visiting Falls Park in the winter. It's a great place to live!

Frequently Asked Questions about Sioux Falls

What type of rentals are currently available in Sioux Falls?

There are currently 599 Apartments for Rent in Sioux Falls, SD with pricing that ranges from $546 to $5,150. There are also 145 Single Family Homes for rent, Condos, and Townhome rentals currently available in Sioux Falls ranging from $595 to $4,000.

What is the current price range for Rental Homes in Sioux Falls?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Sioux Falls ranges from $595 to $4,000 with an average monthly rent of $1,761.

How much are larger Three and Four Bedroom Rentals in Sioux Falls?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Sioux Falls range from $824 to $5,150, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,070 to $2,650. Four Bedroom Single-Family rentals are also available starting from $1,499 and Four Bedroom Apartments start at $1,475.

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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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.

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

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.

decorative image for What Does “Rent Burdened” Mean? How Much Rent Is Too Much article

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.