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from $1,4281 to 3 Bedroom Apartments Available Now
The Grainwood Senior Apartments
5119 Gateway St SEPrior Lake, MN 55372
Cheap Apartments for Rent in the Downtown Prior Lake Neighborhood of Prior Lake, MN from $900 (10 Rentals)
Search the lowest-cost Apartments available for rent right now in the Downtown Prior Lake area of Prior Lake.
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Rent Specials
from $1,4482 to 3 Bedroom Apartments Available Now
Kestrel Village Apartments
16650 Brunswick AvePrior Lake, MN 55372
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from $1,3501 to 2 Bedroom Apartments Available Now
The Village at Five Hawks
16611-16635 Five Hawks Ave SEPrior Lake, MN 55372
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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from $1,5992 Bedroom Apartments Available Jun 1
Courtwood Village I
17092 Adelmann St SEPrior Lake, MN 55372
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from $1,2951 to 2 Bedroom Apartments Available May 20
Hearthwood Apartments
16516 Franklin Trl SEPrior Lake, MN 55372
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from $1,5252 Bedroom Apartments Available Jun 13
Creekside Commons Apartments
16535 Tranquility Ct SEPrior Lake, MN 55372
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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from $1,1401 Bedroom Apartment Available Now
16829 Toronto Ave SE, Unit 207
16829 Toronto Ave SEPrior Lake, MN 55372
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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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from $1,334Studio to 3 Bedroom Apartments Available Now
Springs at Egan Drive
14125 Louisiana AveSavage, MN 55378
Showing Results 1-10, Page 1 of 1
Downtown Prior Lake, Prior Lake, MN Local Guide
Sunset Prior Lake by Laura is licensed under CC BY 2.0
How much does it cost to rent an apartment in Downtown Prior Lake?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Downtown Prior Lake Studio Apartments | $1,442 | $1,334 | $1,540 |
| Downtown Prior Lake 1 Bedroom Apartments | $1,597 | $1,140 | $1,950 |
| Downtown Prior Lake 2 Bedroom Apartments | $2,032 | $1,448 | $2,380 |
| Downtown Prior Lake 3 Bedroom Apartments | $2,154 | $1,673 | $2,487 |
Browse Apartments in this Neighborhood
There are currently 10 rentals with your search options within a 2 mile radius of the Downtown Prior Lake Neighborhood of Prior Lake, MN.
See all Apartments in Prior LakeExplore Prior Lake
Downtown Prior Lake, Prior Lake, MN Local Guide
- Nearby Prior Lake neighborhoods
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Cheapest Available Downtown Prior Lake Apartments for Rent
The cheapest available apartment rental in the Downtown Prior Lake area of Minneapolis, MN is a Studio unit found at Springs at Egan Drive priced from $1,324. The Grainwood Senior Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,428. Here are the most affordable Downtown Prior Lake apartments for rent in Minneapolis, MN:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Springs at Egan Drive | Studio Grand Overlook | Studio,1BA | $1,324 |
| The Grainwood Senior Apartments | One Bedroom - D | 1BR,1BA | $1,428 |
| Jeffers Waterfront Apartments | The Cabin | 1BR,1BA | $1,436 |
Best Value Apartments for Rent in Downtown Prior Lake, MN
As of May 17, 2025 the best value apartment in the Downtown Prior Lake area is the $1.58 price per square foot 2 bed 1 bath Model at Kestrel Village Apartments in the in the Downtown Prior Lake neighborhood starting from $1,448. The second greatest value Downtown Prior Lake apartment is the Two Bedroom - A Model at The Grainwood Senior Apartments starting at $1,714 with a $1.92 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 Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Kestrel Village Apartments | 2 bed 1 bath | 2BR,1BA | $1.58 |
| The Grainwood Senior Apartments | Two Bedroom - A | 2BR,1BA | $1.92 |
| Springs at Egan Drive | 1 BR Designer Courtyard | 1BR,1BA | $2.19 |
| Jeffers Waterfront Apartments | The Cabin | 1BR,1BA | $2.21 |
| 16829 Toronto Ave SE, Unit 207 | 16829 Toronto Ave SE | 1BR,1BA | $1.75 |
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Pet Friendly LifestyleDowntown Prior Lake, Prior Lake, MN
Ranked #2
Among neighborhoods in Prior Lake, MN for Apartment listings with Pet Friendly Amenities
Pet Friendliness Lifestyle Score
4.0Pet Friendly
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 $1,448.
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 $1,428, while the average apartment in Downtown Prior Lake costs $2,232.
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 6 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 $523 which is $1,709 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.
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.
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.
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.
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.