Cheap Apartments for Rent in Lake City, MN from $500 (15 Rentals)

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Lake Pepin
1 to 2 Bedroom Apartments

Lake Pepin

221 N Franklin StLake City, MN 55041
Senior Living
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Underwood Terrace
2 to 3 Bedroom Apartments

Underwood Terrace

515 N 10th StLake City, MN 55041
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1816 34th St NW
$7501 Bedroom, 1 Bath RentalsAvailable Now

1816 34th St NW

Rochester, MN 55901
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Lake City, MN Local Guide

Cheapest Available Lake City Apartments for Rent and Nearby

 

The cheapest available apartment rental in Lake City, MN is a 1 Bed unit found at River's Edge priced from $550. Great River has the second lowest priced unit, which is a 2 Beds apartment currently listed from $603. Here is today’s list of the most affordable Lake City apartments for rent:

Apartment ListingModel NameBed/BathPriced From
River's EdgeOne Bedroom1BR,1BA$550
Great River2 Bed, 1 Bath2BR,1BA$603
Olympik Village ApartmentsZeus1BR,1BA$900
Park Place PlazaA2Studio,1BA$925
Crossing Meadows50/1/H1BR,1BA$999

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

As of February 15, 2025 the best value apartment in the Lake City area is the $1.18 price per square foot Three Bedroom Model at Harvestview Apartments in the in the North Rochester neighborhood starting from $1,695. The second greatest value Lake City apartment is the 3 Bedroom Model at Georgetowne Homes starting at $1,600 with a $1.18 price per square foot in the North Rochester neighborhood. 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.
Harvestview ApartmentsThree Bedroom3BR,2BA$1.18
Georgetowne Homes3 Bedroom3BR,2BA$1.18
Oakwood MeadowsOakwood Meadows Bungalow SW 20223BR,2BA$1.21
River Glen2 Bedroom2BR,2BA$1.29
Dakota TownhomesTwo Bedroom2BR,1BA$1.34
Essex PlaceOne Bedroom - Finch1BR,1BA$1.37
Crossing Meadows60/11BR,1BA$1.33
The Gates of RochesterCarlyle1BR,1BA$1.24
Olympik Village ApartmentsZeus1BR,1BA$1.29
River's EdgeOne Bedroom1BR,1BA$0.81

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

Explore Lake City, MN Rentals by Map

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Getting Around Lake City, MN

Walk Score®

38 / 100

Car-Dependent

Most errands require a car

Bike Score®

44 / 100

Somewhat Bikeable

Minimal bike infrastructure

Frequently Asked Questions about Cheap Lake City Apartments

What is the Cheapest Studio apartment in Lake City?

Currently the most affordable Cheap Studio Apartment in Lake City is at Park Place Plaza listed at $925.

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

The lowest price for a Cheap One Bedroom Lake City Apartment is $550 at River's Edge.

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 $603 at Great River.

What is the most affordable Lake City Three Bedroom Apartment?

The best deal on a cheap Lake City Three Bedroom Apartment rental is at The Gates of Rochester and starts from $1,085.

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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What to Know About Fees and Fines When Renting

Written by: Trey Huguley

When it comes to renting a new apartment or home there can be a number of fees that you will want to keep in mind going into the process.

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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.

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Signing Your Apartment Lease: The Basics

Written by: Trey Huguley

When you're about to sign a lease for the first time, it can feel a bit overwhelming. You don’t want to miss any important details hidden in the fine print.