Cheap Apartments for Rent in the Downtown Rapid City Neighborhood of Rapid City, SD from $400 (35 Rentals)

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

property at 601 E North St

601 E North St

Rapid CitySD57701
property at 210 E North St

210 E North St

Rapid CitySD57701
property at 644 Holcomb Ave

644 Holcomb Ave

Rapid CitySD57701
property at 207 E Monroe St

207 E Monroe St

Rapid CitySD57701
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Sundial Square
1 to 4 Bedroom Apartments

Sundial Square

118 Waterloo StRapid City, SD 57701
  • Utilities Included
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The Radiant
1 to 2 Bedroom Apartments

The Radiant

28 Racine StRapid City, SD 57701
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1320 Quincy St
Studio to 2 Bedroom Apartments

1320 Quincy St

1320 Quincy StRapid City, SD 57701
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West Park Apartments
1 Bedroom Apartments

West Park Apartments

1018 11th StRapid City, SD 57701
  • Utilities Included
Showing Results 1-35, Page 1 of 1

Downtown Rapid City, Rapid City, SD Local Guide

Cheapest Available Downtown Rapid City Apartments for Rent

 

The cheapest available apartment rental in the Downtown Rapid City area of Rapid City, SD is a 1 Bed unit found at The Place at Hainesway priced from $859. The Radiant has the second lowest priced unit, which is a 1 Bed apartment currently listed from $953. Here are the most affordable Downtown Rapid City apartments for rent in Rapid City, SD:

Apartment ListingModel NameBed/BathPriced From
The Place at HaineswayOne Bed, One Bath1BR,1BA$859
The RadiantOne Bedroom 60%1BR,1BA$953
Harmony HeightsThe Bluff1BR,1BA$1,010
Sheridan Lake ApartmentsThe Windsor2BR,1BA$1,025
Creekside Heights Apartments, LLCEfficiencyStudio,1BA$1,030
The Place at Estes ParkTwo Bed Two Bath2BR,2BA$1,049
The Elements, LLCEfficiencyStudio,1BA$1,150
Tallgrass ApartmentsB11BR,1BA$1,165
Jayhawks Patio Home ApartmentsSingle level 1 bed - patio & garage incl1BR,1BA$1,199

Best Value Apartments for Rent in Downtown Rapid City, SD

As of April 06, 2025 the best value apartment in the Downtown Rapid City area is the $1.40 price per square foot 3Bed/2Bath Model at Rapid Creek Apartments in the in the Downtown Rapid City neighborhood starting from $1,402. The second greatest value Downtown Rapid City apartment is the The Wellington Model at Sheridan Lake Apartments starting at $1,075 with a $1.08 price per square foot in the Downtown Rapid City neighborhood. Here is today’s list of the best values for Downtown Rapid City apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Rapid Creek Apartments3Bed/2Bath3BR,2BA$1.40
Sheridan Lake ApartmentsThe Wellington2BR,2BA$1.08
The Place at Estes ParkTwo Bed Two Bath2BR,2BA$1.08
728 Saint Charles St, Unit 2728 Saint Charles St2BR,1BA$1.23
KC Lofts2 bed2BR,1BA$1.73
The RadiantOne Bedroom 60%1BR,1BA$1.32
Harmony HeightsThe Bluff1BR,1BA$1.44
Tallgrass ApartmentsB11BR,1BA$1.69
Creekside Heights Apartments, LLCEfficiencyStudio ,1BA$1.49
The Place at HaineswayOne Bed, One Bath1BR,1BA$1.32

Quick Rent Budget Calculator

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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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Pet Friendly Lifestyle
Downtown Rapid City, Rapid City, SD

Ranked #1

Among neighborhoods in Rapid City, SD for Apartment listings with Pet Friendly Amenities

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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Best Local Schools in
Downtown Rapid City, Rapid City, SD

School data provided by Great Schools

Getting Around the Downtown Rapid City Neighborhood in Rapid City, SD

Walk Score®

74 / 100

Very Walkable

Most errands can be accomplished on foot

Bike Score®

70 / 100

Very Bikeable

Biking is convenient for most trips

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 Downtown Rapid City Apartments

What is a cheap apartment in Downtown Rapid City?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Downtown Rapid City is under $1,199.

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

The cheapest apartment in Downtown Rapid City is The Place at Hainesway which is listed at $859, while the average apartment in Downtown Rapid City costs $1,564.

What types of apartments are the cheapest in Downtown 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 7 regular apartments in Downtown 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 Downtown Rapid City?

Cheap apartments in Downtown Rapid City have an average cost of $882 which is $682 cheaper than the average rent for all rentals in Downtown 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.

decorative image for Understanding Amenity Fees: Know Where You Might Be Able to Save Money article

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.