Cheap Apartments for Rent in Wallace, SD from $500 (25 Rentals)

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Search the lowest-cost Apartments available for rent right now in Wallace.

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Woodland Park - Ivanhoe
1 to 2 Bedroom Apartments

Woodland Park - Ivanhoe

106 N County Road 5Ivanhoe, MN 56142
Senior Living
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126 1st St SE
1 to 2 Bedroom Apartments

126 1st St SE

126 1st St SEOrtonville, MN 56278
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630 S High St
Studio to 2 Bedroom Apartments

630 S High St

630 S High StAberdeen, SD 57401
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Archer Flats
Studio to 2 Bedroom Apartments

Archer Flats

2308 14th Ave NEWatertown, SD 57201
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Wallace, SD Local Guide

Cheapest Available Wallace Apartments for Rent and Nearby

 

The cheapest available apartment rental in Wallace, SD is a 1 Bed unit found at Beardsley Apartments priced from $519. Prairie Park Fairmount Apartments has the second lowest priced unit, which is a 2 Beds apartment currently listed from $545. Here is today’s list of the most affordable Wallace apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Beardsley ApartmentsOne Bedroom1BR,1BA$519
Prairie Park Fairmount Apartments2 Beds, 1 bath2BR,1BA$545
Wheatgrass Village IEfficency with 1 bathStudio,1BA$695
Ridgeview Manor - Trail I and II2BR/1.0BA2BR,1BA$700
Southland CourtStudio - BStudio,1BA$750

Best Value Apartments for Rent in Wallace, SD and Nearby

As of October 11, 2025 the best value apartment in the Wallace area is the $1.16 price per square foot 3 Bed Model at Cloverfield Townhomes in the in the Downtown Brookings neighborhood starting from $2,095. The second greatest value Wallace apartment is the 2BR/2.0BA Model at One & Two Willow Creek starting at $1,475 with a $0.87 price per square foot . Here is today’s list of the best values for Wallace apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Cloverfield Townhomes3 Bed3BR,2.5BA$1.16
One & Two Willow Creek2BR/2.0BA2BR,2BA$0.87
1009 Southland Ln2 Bed 2 Bath2BR,2BA$1.06
105 Carly Dr2 Bed2BR,1.5BA$1.04
Innovation VillageMain F1BR,1BA$1.35
Prairie Park Fairmount Apartments3 Beds, 1 bath3BR,1BA$0.67
Ridgeview Manor - Trail I and II2BR/1.0BA2BR,1BA$0.74
Beardsley ApartmentsOne Bedroom1BR,1BA$0.58
Generations on 1st1BR/1.0BA1BR,1BA$1.40
103 N Lloyd St, Unit 6103 N Lloyd St1BR,1BA$0.47

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

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Getting Around Wallace, SD

Walk Score®

4 / 100

Car-Dependent

Almost all errands require a car

Bike Score®

29 / 100

Somewhat Bikeable

Minimal bike infrastructure

Frequently Asked Questions about Cheap Wallace Apartments

What is the Cheapest Studio apartment in Wallace?

Currently the most affordable Cheap Studio Apartment in Wallace is at Wheatgrass Village I listed at $695.

How much is rent for a Cheap One Bedroom Wallace Apartment?

The lowest price for a Cheap One Bedroom Wallace Apartment is $519 at Beardsley Apartments.

What is the lowest price for a Cheap Two Bedroom Wallace Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Wallace is starting from $545 at Prairie Park Fairmount Apartments.

What is the most affordable Wallace Three Bedroom Apartment?

The best deal on a cheap Wallace Three Bedroom Apartment rental is at Prairie Park Fairmount Apartments and starts from $650.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

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.

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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate! 

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The Rental Move-In Inspection Checklist: A Guide for Renters

Written by: Trey Huguley

The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.

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Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Written by: Christine Leonard, Esq.

For many people, obstacles can arise during the rental application process for a variety of issues.

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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Written by: Christine Leonard, Esq.

Hard truth. Moving is never easy. I’ve done it all – from local moves to cross-country relocations From packing to unpacking the last box, I have found moving to be an exhausting, expensive and stressful experience every time.