Cheap Apartments for Rent in the Downtown Prior Lake Neighborhood of Prior Lake, MN from $900 (9 Rentals)

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

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Courtwood Village 2
2 Bedroom Apartments

Courtwood Village 2

17088 Adelmann St SEPrior Lake, MN 55372
  • Utilities Included
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Brooksville
1 to 2 Bedroom Apartments

Brooksville

16829 Toronto Ave SEPrior Lake, MN 55372
  • Utilities Included
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Downtown Prior Lake, Prior Lake, MN Local Guide

Cheapest Available Downtown Prior Lake Apartments for Rent

 

The cheapest available apartment rental in the Downtown Prior Lake area of Minneapolis, MN is a 1 Bed unit found at The Grainwood Senior Apartments priced from $1,336. Springs at Egan Drive has the second lowest priced unit, which is a Studio apartment currently listed from $1,340. Here are the most affordable Downtown Prior Lake apartments for rent in Minneapolis, MN:

Apartment ListingModel NameBed/BathPriced From
The Grainwood Senior ApartmentsOne Bedroom - D1BR,1BA$1,336
Springs at Egan DriveStudio Grand OverlookStudio,1BA$1,340
Kestrel Village Apartments2 bed 1 bath2BR,1BA$1,348

Best Value Apartments for Rent in Downtown Prior Lake, MN

As of April 05, 2025 the best value apartment in the Downtown Prior Lake area is the $1.59 price per square foot 3BR/2.0BA Model at The Village at Five Hawks in the in the Downtown Prior Lake neighborhood starting from $1,895. The second greatest value Downtown Prior Lake apartment is the 2 Bed/ 2 Bath Model at Courtwood Village 2 starting at $1,649 with a $1.72 price per square foot in the Downtown Prior Lake neighborhood. Here is today’s list of the best values for Downtown Prior Lake apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
The Village at Five Hawks3BR/2.0BA3BR,2BA$1.59
Courtwood Village 22 Bed/ 2 Bath2BR,2BA$1.72
Kestrel Village Apartments2 bed 1 bath2BR,1BA$1.47
The Grainwood Senior ApartmentsOne Bedroom - A1BR,1BA$1.83
Jeffers Waterfront ApartmentsThe Cabin1BR,1BA$2.16
Springs at Egan DriveStudio Grand OverlookStudio ,1BA$2.15

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Pet Friendly Lifestyle
Downtown Prior Lake, Prior Lake, MN

Ranked #1

Among neighborhoods in Prior Lake, MN for Apartment listings with Pet Friendly Amenities

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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Frequently Asked Questions about Cheap Downtown Prior Lake Apartments

What is a cheap apartment in Downtown Prior Lake?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Downtown Prior Lake is under $1,895.

What is the price of a cheap apartment in Downtown Prior Lake?

The cheapest apartment in Downtown Prior Lake is The Grainwood Senior Apartments which is listed at $1,336, while the average apartment in Downtown Prior Lake costs $2,222.

What types of apartments are the cheapest in Downtown Prior Lake?

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 9 regular apartments in Downtown Prior Lake 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 Prior Lake?

Cheap apartments in Downtown Prior Lake have an average cost of $650 which is $1,572 cheaper than the average rent for all rentals in Downtown Prior Lake.

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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A Local Expert’s Guide To the Top 10 Budget-Friendly Neighborhoods to Rent in Minneapolis

Written by: Stephanie Lica

I'm Stephanie, your ApartmentHomeLiving.com Local Expert for Minneapolis, MN. I've lived in Minnesota all my life, save for a brief stint in Wisconsin.

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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.