Cheap Apartments for Rent in Rapid City, SD from $400 (45 Rentals)

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

property at 1935 38th St

1935 38th St

Rapid CitySD57702
property at 102 N Maple Ave

102 N Maple Ave

Rapid CitySD57701
property at 644 Holcomb Ave

644 Holcomb Ave

Rapid CitySD57701
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Heartland Heights
1 to 3 Bedroom Apartments

Heartland Heights

427 Degeest DrRapid City, SD 57703
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Edgewood Estates
2 to 3 Bedroom Apartments

Edgewood Estates

721 Eldene LnRapid City, SD 57701
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Driftwood Estates
3 Bedroom Apartments

Driftwood Estates

428 E Fairlane DrRapid City, SD 57701
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Sundial Square
1 to 4 Bedroom Apartments

Sundial Square

118 Waterloo StRapid City, SD 57701
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CARRIAGE GREEN
1 to 3 Bedroom Apartments

CARRIAGE GREEN

4205 Elm AveRapid City, SD 57701
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The Radiant
1 to 2 Bedroom Apartments

The Radiant

28 Racine StRapid City, SD 57701
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Moonlight Apartments
Studio to 2 Bedroom Apartments

Moonlight Apartments

1062 Valley DrRapid City, SD 57703
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1320 Quincy St
Studio to 2 Bedroom Apartments

1320 Quincy St

1320 Quincy StRapid City, SD 57701
Showing Results 1-45, Page 1 of 1

Rapid City, SD Local Guide

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Written By:
Staff Writer
Local Guide Expert

Cheapest Neighborhoods for Apartments in Rapid City, SD

Pricing Updated: 03/27/2025

Current apartment rentals in the Rapid City, SD area range in price from to with an overall median price of . Here is today’s list neighborhoods with the lowest median pricing for Rapid City Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Downtown Rapid City$1,564$497165

Cheapest Available Rapid City Apartments for Rent

 

The cheapest available apartment rental in Rapid City, SD is a 1 Bed unit found at Parkview Plaza Apartments priced from $825. The Place at Hainesway in the Downtown Rapid City neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $859. Here is today’s list of the most affordable Rapid City apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Parkview Plaza ApartmentsOne bedroom1BR,1BA$825
The Place at HaineswayOne Bed, One Bath1BR,1BA$859
Bridgewood EstatesOpen living space + spacious master1BR,1BA$870
Enchanted PinesStudioStudio,1BA$900
Johnson Ranch ApartmentsStudioStudio,1BA$950
Orchard MeadowsStudioStudio,1BA$950
The RadiantOne Bedroom 60%1BR,1BA$953
Moonlight Apartment ComplexStudioStudio,1BA$975
440 N Creek Dr2 Beds, 2 baths2BR,2BA$995
Canyon Lake ApartmentsA11BR,1BA$995

Best Value Apartments for Rent in Rapid City, SD

As of March 27, 2025 the best value apartment in the Rapid City area is the $0.66 price per square foot 2 Beds, 2 baths Model at 440 N Creek Dr in the starting from $995. The second greatest value Rapid City apartment is the 3 Beds, 2 baths Model at Stonegate Community starting at $1,495 with a $1.27 price per square foot . Here is today’s list of the best values for Rapid City apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
440 N Creek Dr2 Beds, 2 baths2BR,2BA$0.66
Stonegate Community3 Beds, 2 baths3BR,2BA$1.27
The Place at Estes ParkTwo Bed Two Bath2BR,2BA$1.08
CARRIAGE GREENSpacious living + master walk-in closet2BR,1BA$1.12
Vista Pointe ApartmentsTwo BR RE townhouse apt2BR,1BA$1.16
Countryside Apartments1Bedroom 1 Bathroom1BR,1BA$1.25
Butterfly Apartments2 Bedroom2BR,1BA$1.22
728 Saint Charles St, Unit 2728 Saint Charles St2BR,1BA$1.23
Bridgewood EstatesOpen living space + spacious master1BR,1BA$1.18
Parkview Plaza ApartmentsOne bedroom1BR,1BA$1.14

Quick Rent Budget Calculator

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Rapid City Overview

When most people think of Rapid City, South Dakota, images of beautiful scenery, sunny weather, and friendly people immediately come to mind. Furthermore, apartment living in Rapid City is the perfect way to experience everything that Rapid City has to offer.

Why live in Rapid City, SD?

When it comes to living in Rapid City, a population of over 70,000 have all decided to call this city home. This city is home to thousands of nature lovers. With some of the most majestic mountains, green forests, and diverse wildlife on Earth, anyone enjoying nature will love Rapid City. Access to scenic views doesn't preclude civilization, as this city has plenty of radio, TV stations, attractions, and development that everyone expects in a developed town. While Rapid City is the third largest city in South Dakota, it is a popular place to call home because it doesn't have any of the traffic headaches or commuting nightmares that plague other cities.

Best Local Schools in
Rapid City, SD

School data provided by Great Schools

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

Explore Rapid City, SD Rentals by Map

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

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Getting Around Rapid City, SD

Walk Score®

39 / 100

Car-Dependent

Most errands require a car

Bike Score®

40 / 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 Rapid City Apartments

What is a cheap apartment in Rapid City?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Rapid City is under $995.

What is the price of a cheap apartment in Rapid City?

The cheapest apartment in Rapid City is Parkview Plaza Apartments which is listed at $825, while the average apartment in Rapid City costs $1,564.

What types of apartments are the cheapest in Rapid City?

Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 8 regular apartments in Rapid City that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

How do the prices of cheap apartments compare to the average apartment in Rapid City?

Cheap apartments in Rapid City have an average cost of $852 which is $712 cheaper than the average rent for all rentals in Rapid City.

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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Understanding Amenity Fees: Know Where You Might Be Able to Save Money

Written by: Amber Kanuckel

With the rising costs of housing, a lot of renters are asking this question: Is it possible to opt out of various amenities that your rental property offers so that you can avoid paying the fees.

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Renting Smart: Lease Basics Every Renter Needs

Written by: Christine Leonard, Esq.

Often, in the excitement of finding a new place to live, there’s a rush to make it happen, and - too often - a new tenant signs a lease without reading it carefully.

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Battling the Butts: Your Guide to the Reality of Smoke-Free Renting

Written by: Andrea Lee Negroni, JD

While many apartment buildings are “no smoking” properties, it’s hard to know exactly how many. In 2017, the National Apartment Association reported more than half of rental properties had smoke free policies.

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How Your Move-In Inspection Can Protect Your Security Deposit

Written by: Christine Leonard, Esq.

If you’re anything like most people, housing costs represent a huge chunk of your monthly budget. On top of that, moving can be both a stressful and expensive affair.