Cheap Apartments for Rent in Lakeville, MN from $1,000 (44 Rentals)

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

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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Colonial Apartments
2 Bedroom Apartments

Colonial Apartments

20596 Hollins Ave WLakeville, MN 55044
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Evergreen Apartments
1 to 2 Bedroom Apartments

Evergreen Apartments

8590 208th St WLakeville, MN 55044
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Village Dweller
1 to 2 Bedroom Apartments

Village Dweller

20966-20968 Holt AveLakeville, MN 55044
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Colonial Apartments
2 Bedroom Apartments

Colonial Apartments

20612 Hollins Ave WLakeville, MN 55044
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Kingsley Shores
Studio to 1 Bedroom Apartments

Kingsley Shores

16880 Klamath TrlLakeville, MN 55044
Senior Living
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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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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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Apple Villa
1 to 2 Bedroom Apartments

Apple Villa

7820-7822 Whitney DrApple Valley, MN 55124
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Oaks Whitney Pines
1 to 2 Bedroom Apartments

Oaks Whitney Pines

7750 Whitney DrApple Valley, MN 55124
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The Apex
1 to 2 Bedroom Apartments

The Apex

15101 Greenhaven DrBurnsville, MN 55306
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Whispering Oaks
1 to 3 Bedroom Apartments

Whispering Oaks

1600 W 143rd StBurnsville, MN 55306
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Wexford Place
2 Bedroom Apartments

Wexford Place

15850 Chippendale Ave WRosemount, MN 55068
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Showing Results 1-44, Page 1 of 1

Lakeville, MN Local Guide

Cheapest Neighborhoods for Apartments in Lakeville, MN

Pricing Updated: 05/18/2025

Current apartment rentals in the Lakeville, MN area range in price from $631 to $5,920 with an overall median price of $2,490. The three Lakeville neighborhoods with the lowest median rent pricing are Oak Shores at $1,900, Timbercrest At Lakeville at $1,195, and Wood Hill at $631. Here is today’s list of the top 6 neighborhoods with the lowest median pricing for Lakeville Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Oak Shores$1,900$1,9001
Timbercrest At Lakeville$2,308$1,19552
Wood Hill$2,308$63158
Prairie Lake$2,600$1,09532
Donnelly Farm$2,640$1,19559
Dakota Far Southwest Suburbs$3,184$910630

Cheapest Available Lakeville Apartments for Rent

 

The cheapest available apartment rental in Lakeville, MN is a Studio unit found at Southwind Village in the Dakota Far Southwest Suburbs neighborhood priced from $1,095. Rosewood Manor in the Glendalough neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,100. Here is today’s list of the most affordable Lakeville apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Southwind VillageS1Studio,1BA$1,095
Rosewood Manor1 Bed, 1 bath1BR,1BA$1,100
The FelixThe Selene A1BR,1BA$1,127
The ApexMinnetonka1BR,1BA$1,152
MAJESTIC COVEOpen living space + spacious master1BR,1BA$1,165
The Oaks of Lakeville1 BD / 1 BA1BR,1BA$1,195
The Woods of Burnsville ApartmentsSycamore1BR,1BA$1,204
Authentix LakevilleStudio Horizon CourtyardStudio,1BA$1,279
Northlake LoftsSugarStudio,1BA$1,325
KINGSTON GREENOpen concept living with walk-out patio/balcony1BR,1BA$1,330

Best Value Apartments for Rent in Lakeville, MN

As of May 19, 2025 the best value apartment in the Lakeville area is the $1.47 price per square foot Three Bedroom - A Model at The Legends of Apple Valley in the in the Cobblestone Legacy neighborhood starting from $1,974. The second greatest value Lakeville apartment is the Two Bedroom Flat Model at Lakeville Court starting at $1,631 with a $1.43 price per square foot in the Wood Hill neighborhood. Here is today’s list of the best values for Lakeville apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
The Legends of Apple ValleyThree Bedroom - A3BR,2BA$1.47
Lakeville CourtTwo Bedroom Flat2BR,1BA$1.43
Rambush Estates2 Bed, 2 Bath2BR,2BA$1.55
Lakeville WoodsWillow A1BR,1BA$1.61
The ApexWaconia2BR,2BA$1.60
Applewoods Apartments2 Bedroom 1 Bathrom2BR,1BA$1.55
KINGSTON GREENOpen concept living with walk-out patio/balcony1BR,1BA$1.53
The Oaks of Lakeville2 BD / 1 BA2BR,1BA$1.65
The Woods of Burnsville ApartmentsSycamore1BR,1BA$1.56
MAJESTIC COVEOpen living space + spacious master1BR,1BA$1.61

Quick Rent Budget Calculator

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Best Local Schools in
Lakeville, MN

School data provided by Great Schools

Remember the 3 Rules of Real Estate:
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Explore Lakeville, MN Rentals by Map

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See the most popular apartments and homes in Lakeville, MN

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Getting Around Lakeville, MN

Walk Score®

28 / 100

Car-Dependent

Most errands require a car

Bike Score®

39 / 100

Somewhat Bikeable

Minimal bike infrastructure

Transit Score®

1 / 100

Minimal Transit

It may be possible to get on a bus

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 Lakeville Apartments

What is a cheap apartment in Lakeville?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Lakeville is under $1,330.

What is the price of a cheap apartment in Lakeville?

The cheapest apartment in Lakeville is Rosewood Manor which is listed at $1,100, while the average apartment in Lakeville costs $2,490.

What types of apartments are the cheapest in Lakeville?

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 35 regular apartments in Lakeville 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 Lakeville?

Cheap apartments in Lakeville have an average cost of $122 which is $2,368 cheaper than the average rent for all rentals in Lakeville.

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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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.