
Cheap Apartments for Rent near Wallace, SD from $300 (41 Rentals)
Search the lowest-cost Apartments available for rent right now in Wallace.


Mary's Heights Apartments

500 1st Ave S

262 2nd St SW

511 Main Ave N

Beardsley Apartments

Oakes I & II Apartments

Innovation Village
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.

Depot Apartments

The Oaks

Lofts at Park Hill

Presentation Heights

Prairie Village Apartments

Forte Living of Aberdeen: 50+ Community!

Wheatgrass Village I

Forte of Brookings: 50+ Community!
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.

Parkview Apartments and Townhomes

Dakota Estates

Wilkeshire Apartments

Latitude 44

Paragon

Trails Head

Sweetgrass Crossing

Sioux Village
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.

SunHill Bryant

811 7th St, Unit 2

Campus View

Clinton Community Housing

Morning Sun Apartments

Prairie Park Fairmount Apartments

Woodland Park - Ivanhoe

Home Rite Apartments
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.

Heritage High Apartments

1631 Olive Dr

Ridgeview Manor - Trail I and II

630 S High St

Southland Court

Archer Flats

1009 Southland Ln

17 3rd Ave NE
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.

Parkside Place
Wallace, SD Local Guide

How much does it cost to rent an apartment in Wallace?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Wallace Studio Apartments | $992 | $815 | $1,155 |
| Wallace 1 Bedroom Apartments | $1,345 | $455 | $10,000+ |
| Wallace 2 Bedroom Apartments | $1,451 | $545 | $2,100 |
| Wallace 3 Bedroom Apartments | $1,473 | $800 | $1,840 |
| Wallace 4 Bedroom Apartments | $1,305 | $910 | $1,810 |
Browse Top Apartments in Wallace
See all Apartments in WallaceExplore Wallace
Wallace, SD Local Guide
- Nearby Cities
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Cheapest Available Wallace Apartments for Rent and Nearby
 The cheapest available apartment rental in Wallace, SD is a 1 Bed unit found at Mary's Heights Apartments priced from $455. Parkview Apartments and Townhomes has the second lowest priced unit, which is a 2 Beds apartment currently listed from $935. Here is today’s list of the most affordable Wallace apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Mary's Heights Apartments | 1 Bed, 1 bath | 1BR,1BA | $455 |
| Parkview Apartments and Townhomes | 2 bedroom apartment | 2BR,1BA | $935 |
| Latitude 44 | The Cove | Studio,1BA | $955 |
| Paragon | The Vista | Studio,1BA | $960 |
| Trails Head | Driftwood | Studio,1BA | $960 |
| Sweetgrass Crossing | June | Studio,1BA | $990 |
| Wilkeshire Apartments | Kent | 1BR,1BA | $995 |
| The Lofts | A | 1BR,1BA | $1,005 |
| Generations on 1st | 1BR/1.0BA | 1BR,1BA | $1,055 |
| Aberdeen Communities | 1 BED 1BATH | 1BR,1BA | $1,100 |
Best Value Apartments for Rent in Wallace, SD and Nearby
As of July 12, 2026 the best value apartment in the Wallace area is the $0.89 price per square foot 3 Bedroom Townhome Model at Wheatgrass Village I in the starting from $1,465. The second greatest value Wallace apartment is the Voyager H Model at Innovation Village starting at $1,820 with a $1.27 price per square foot in the Downtown Brookings neighborhood. Here is today’s list of the best values for Wallace apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Wheatgrass Village I | 3 Bedroom Townhome | 3BR,2.5BA | $0.89 |
| Innovation Village | Voyager H | 3BR,2BA | $1.27 |
| Mary's Heights Apartments | 3 Beds, 2 baths | 3BR,2BA | $0.60 |
| Campus View | 4 Bed + 2 Bath | 4BR,2BA | $1.22 |
| SunHill Lake Norden | 3 Beds, 1 bath | 3BR,1BA | $1.18 |
| Wilkeshire Apartments | Kent | 1BR,1BA | $1.12 |
| Wilmot Estates Apartments | 2 Bedroom 1 Bathroom Apartment | 2BR,1BA | $1.58 |
| Parkview Apartments and Townhomes | 2 bedroom apartment | 2BR,1BA | $1.20 |
| Generations on 1st | 1BR/1.0BA | 1BR,1BA | $1.46 |
| The Lofts | A | 1BR,1BA | $1.49 |
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.
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.
Read ArticleQuick 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.
Remember the 3 Rules of Real Estate:Location, Location, Location!
Explore Wallace, SD Rentals by Map
See the most popular apartments and homes in Wallace, SD
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 Latitude 44 listed at $955.
How much is rent for a Cheap One Bedroom Wallace Apartment?
The lowest price for a Cheap One Bedroom Wallace Apartment is $455 at Mary's Heights 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 Mary's Heights Apartments.
What is the most affordable Wallace Three Bedroom Apartment?
The best deal on a cheap Wallace Three Bedroom Apartment rental is at Mary's Heights Apartments and starts from $800.
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

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.

Apartment Occupancy Rates: Renter Attraction vs Renter Retention
Written by: Robin Stewart
There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.

How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide
Written by: Robin Stewart
Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.

Pet-Friendly Renting: Everything You Need to Know Before You Move
Written by: Christine Leonard, Esq.
For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.