Cheap Apartments for Rent in Watertown, SD from $400 (43 Rentals)

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

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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Studios on 3rd
Studio to 1 Bedroom Apartments

Studios on 3rd

15 3rd St SEWatertown, SD 57201
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Briar Creek Townhomes
2 to 3 Bedroom Apartments

Briar Creek Townhomes

1810 Westminster AveWatertown, SD 57201
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Three Oaks II
2 to 3 Bedroom Apartments

Three Oaks II

305-325 18th St SWWatertown, SD 57201

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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Ashland Apartments
1 to 3 Bedroom Apartments

Ashland Apartments

1500 3rd Ave SWWatertown, SD 57201
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One Willow Creek
1 to 2 Bedroom Apartments

One Willow Creek

2002 W Kemp Ave EWatertown, SD 57201
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Colony West
1 to 4 Bedroom Apartments

Colony West

1630 3rd St SWWatertown, SD 57201
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Flats on 8th
Studio to 2 Bedroom Apartments

Flats on 8th

22 8th Ave SWWatertown, SD 57201
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Archer Flats
Studio to 2 Bedroom Apartments

Archer Flats

2308 14th Ave NEWatertown, SD 57201
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Parkside Place
1 Bedroom Apartments

Parkside Place

8 2nd St NEWatertown, SD 57201
  • Utilities Included

How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Finding the right apartment starts with three things: location, cost, and amenities. Get the insider perspective from a real estate professional on how to nail all three.

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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.

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806 W 5th St
Studio to 1 Bedroom Apartments

806 W 5th St

806 W 5th StMorris, MN 56267
Corporate Housing
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Woodland Park - Ivanhoe
1 to 2 Bedroom Apartments

Woodland Park - Ivanhoe

106 N County Road 5Ivanhoe, MN 56142
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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.

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Lamplighter Apartments
1 to 2 Bedroom Apartments

Lamplighter Apartments

201 W 5th StMorris, MN 56267
Student Housing
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Cardinal Estates
1 to 3 Bedroom Apartments

Cardinal Estates

300-302 South StMorris, MN 56267
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Showing Results 1-43, Page 1 of 1

Watertown, SD Local Guide

Cheapest Available Watertown Apartments for Rent and Nearby

 

The cheapest available apartment rental in Watertown, SD is a 1 Bed unit found at Mary's Heights Apartments priced from $455. Ashland Apartments has the second lowest priced unit, which is a 3 Beds apartment currently listed from $850. Here is today’s list of the most affordable Watertown apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Mary's Heights Apartments1 Bed, 1 bath1BR,1BA$455
Ashland Apartments3 Bedroom3BR,1BA$850
Parkview Apartments and Townhomes2 bedroom apartment2BR,1BA$935
Wilmot Estates ApartmentsStudio ApartmentStudio,1BA$940
Trails HeadDriftwoodStudio,1BA$960
Wilkeshire ApartmentsKent1BR,1BA$995
Generations on 1st1BR/1.0BA1BR,1BA$1,055
Aberdeen Communities1 BED 1BATH1BR,1BA$1,100
Sweetgrass CrossingPrairie1BR,1BA$1,222
The Plains Apartments1631 - 1 Bedroom - Island1BR,1BA$1,225

Best Value Apartments for Rent in Watertown, SD and Nearby

As of July 26, 2026 the best value apartment in the Watertown 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 Watertown apartment is the 3 Bedroom Model at Lake Area Townhomes starting at $1,535 with a $0.99 price per square foot . Here is today’s list of the best values for Watertown apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Wheatgrass Village I3 Bedroom Townhome3BR,2.5BA$0.89
Lake Area Townhomes3 Bedroom3BR,2.5BA$0.99
Mary's Heights Apartments3 Beds, 2 baths3BR,2BA$0.60
Forte of Brookings: 50+ Community!Wren2BR,2BA$1.69
Wilkeshire ApartmentsKent1BR,1BA$1.12
Ashland Apartments3 Bedroom3BR,1BA$0.97
Parkview Apartments and Townhomes2 bedroom apartment2BR,1BA$1.20
The Plains Apartments1631 - 1 Bedroom - Island1BR,1BA$1.67
Generations on 1st1BR/1.0BA1BR,1BA$1.46
Wilmot Estates ApartmentsStudio ApartmentStudio ,1BA$1.74

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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Best Local Schools in
Watertown, SD

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

Explore Watertown, SD Rentals by Map

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See the most popular apartments and homes in Watertown, SD

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Frequently Asked Questions about Cheap Watertown Apartments

What is the Cheapest Studio apartment in Watertown?

Currently the most affordable Cheap Studio Apartment in Watertown is at Wilmot Estates Apartments listed at $940.

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

The lowest price for a Cheap One Bedroom Watertown Apartment is $455 at Mary's Heights Apartments.

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

Today's best deal for a Cheap Two Bedroom Apartment in Watertown is starting from $545 at Mary's Heights Apartments.

What is the most affordable Watertown Three Bedroom Apartment?

The best deal on a cheap Watertown 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

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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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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.

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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.

decorative image for How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide article

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.