Cheap Apartments for Rent in Lake City, SD from $500 (36 Rentals)

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

Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

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Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

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320 1st St
1 to 2 Bedroom Apartments

320 1st St

320 1st StClinton, MN 56225
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806 W 5th St
Studio to 1 Bedroom Apartments

806 W 5th St

806 W 5th StMorris, MN 56267
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Goldenwood
1 Bedroom Apartments

Goldenwood

1145 Friberg AveFergus Falls, MN 56537
Senior Living
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1003 Scotts Ave
1 Bedroom Apartments

1003 Scotts Ave

1003 Scotts AveMorris, MN 56267
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Del Rose Apartments
2 Bedroom Apartments

Del Rose Apartments

504 3rd Ave NWahpeton, ND 58075
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Aspen Green II
1 to 2 Bedroom Apartments

Aspen Green II

720 Melody LnFergus Falls, MN 56537
  • Utilities Included

Know Your Rights - How Discrimination Laws Impact Landlords and Tenants

Read our practical guide to landlord and tenant rights. Understand protected classes, reasonable accommodations, and legal exceptions to prevent housing discrimination.

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Home Rite Apartments
1 Bedroom Apartments

Home Rite Apartments

126 1st St SEOrtonville, MN 56278
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Archer Flats
Studio to 1 Bedroom Apartments

Archer Flats

2308 14th Ave NEWatertown, SD 57201
  • Utilities Included
Showing Results 1-36, Page 1 of 1

Lake City, SD Local Guide

Cheapest Available Lake City Apartments for Rent and Nearby

 

The cheapest available apartment rental in Lake City, SD is a 2 Beds unit found at Natures Edge Partners LLC priced from $25. Beardsley Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $519. Here is today’s list of the most affordable Lake City apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Natures Edge Partners LLC2B1B Subsidy2BR,1BA$25
Beardsley ApartmentsOne Bedroom1BR,1BA$519
Prairie Park Fairmount Apartments2 Beds, 1 bath2BR,1BA$545
Heritage Square1 Bed, 1 bath1BR,1BA$575
Liberty Lights Apartments1 Bedroom1BR,1BA$639
Center Street Apartments2 Bed/1 Bath2BR,1BA$650
Spruce Place Apartments2 Bedroom | Laurel Place2BR,1BA$765
Aberdeen Communities1 BED 1BATH1BR,1BA$795
Gwinner I & II Apartments2br/1bath2BR,1BA$800
Oakes I & II Apartments2BR/2BA2BR,2BA$825

Best Value Apartments for Rent in Lake City, SD and Nearby

As of May 10, 2025 the best value apartment in the Lake City area is the $0.83 price per square foot 3BR/1BA Model at Oakes I & II Apartments in the starting from $900. The second greatest value Lake City apartment is the 2 Bedroom 1 Bathroom Model at River Bluff Apartments starting at $1,005 with a $1.01 price per square foot . Here is today’s list of the best values for Lake City apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Oakes I & II Apartments3BR/1BA3BR,1BA$0.83
River Bluff Apartments2 Bedroom 1 Bathroom2BR,1BA$1.01
Prairie Park Fairmount Apartments3 Beds, 1 bath3BR,1BA$0.67
Cardinal Estates2 Bedroom 1 Bathroom2BR,1BA$1.06
Beardsley ApartmentsOne Bedroom1BR,1BA$0.58
Spruce Place Apartments2 Bedroom | Laurel Place2BR,1BA$0.85
Gwinner I & II Apartments2br/1bath2BR,1BA$0.91
Wilkeshire Apartments1 Bed 1 Bath1BR,1BA$1.04
Center Street ApartmentsWahp 2 bed2BR,1BA$0.99
Liberty Lights Apartments3 Bedroom3BR,1BA$0.99

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

Explore Lake City, SD Rentals by Map

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See the most popular apartments and homes in Lake City, SD

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Getting Around Lake City, SD

Walk Score®

2 / 100

Car-Dependent

Almost all errands require a car

Bike Score®

28 / 100

Somewhat Bikeable

Minimal bike infrastructure

What Are Walk Score®, Transit Score®, and Bike Score® Ratings?

  • Walk Score® measures the walkability of any address.
  • Transit Score® measures access to public transit.
  • Bike Score® measures the bikeability of any address.

Frequently Asked Questions about Cheap Lake City Apartments

How much is rent for a Cheap One Bedroom Lake City Apartment?

The lowest price for a Cheap One Bedroom Lake City Apartment is $25 at Natures Edge Partners LLC.

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

Today's best deal for a Cheap Two Bedroom Apartment in Lake City is starting from $25 at Natures Edge Partners LLC.

What is the most affordable Lake City Three Bedroom Apartment?

The best deal on a cheap Lake City 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.

decorative image for Know Your Budget: Calculating What You Can Realistically Afford When Renting article

Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.

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The Freedom of Short-Term Leases: Exploring the Advantages for Renters

Written by: Bobbi Jackson

If you’re looking to relocate right now, a popular solution that may best fit your current rental needs is a short-term lease.

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Navigating the Rental Market: Tips for First-Time Renters

Written by: Sandy Baker

Making the decision to rent is exciting and terrifying at the same time. For many people, there are a lot of unknowns.

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Rise of Digital Nomads: Remote Work Tips for Apartment Renters

Written by: Brandie Parton

As a digital nomad, you no longer call a set address or office building your home for eight hours of the day or more.