
Cheap Apartments for Rent in Waterville, MN from $900 (37 Rentals)
Search the lowest-cost Apartments available for rent right now in Waterville.


Trails Edge Apartments LLC

South Pointe Apartments

Town's Edge Place Apartments

111 Vine Apartments

Straight River Apartments, LLC

West Lake Meadows

Hillside Apartments

Augusta Park Estates
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.

Woodside Apartments

The Faribo Apartments

Heritage Bluff Apartments LLC

Village Place Apartments

South Pointe II Apartments

Dublin Road Townhomes

Park Plaza Apartments
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.

Cedar Meadow Apartments

Riverchase Apartments

Legacy Park Estates

The Village Place Flats

The Pointe @ Merchant Square

Elmview II Apartments

240 E Rice St

122 Lynn Ln

121 Laurinda Ln
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.

122 Terri Ln

123 Lynn Ln

112 Terri Ln

144 Lynn Ln

102 Terri Ln

121 Jaybee Ln
Waterville, MN Local Guide

How much does it cost to rent an apartment in Waterville?
Bedroom | Average Rent | Cheapest Rent | Highest Rent |
---|---|---|---|
Waterville Studio Apartments | $1,082 | $975 | $1,315 |
Waterville 1 Bedroom Apartments | $1,341 | $900 | $1,775 |
Waterville 2 Bedroom Apartments | $1,583 | $1,025 | $2,650 |
Waterville 3 Bedroom Apartments | $1,688 | $1,199 | $2,095 |
Browse Top Apartments in Waterville
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Waterville, MN Local Guide
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Cheapest Available Waterville Apartments for Rent and Nearby
 The cheapest available apartment rental in Waterville, MN is a 1 Bed unit found at Town's Edge Place Apartments in the Downtown Faribault neighborhood priced from $975. RoK Lofts has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,000. Here is today’s list of the most affordable Waterville apartments for rent:
Apartment Listing | Model Name | Bed/Bath | Priced From |
---|---|---|---|
Town's Edge Place Apartments | 1 Bedroom | 1BR,1BA | $975 |
RoK Lofts | 1 Bedroom Unit | 1BR,1BA | $1,000 |
201 Pilgrim St | 2 Bedroom | 2BR,2BA | $1,025 |
Cedar Meadow Apartments | 3BR | 3BR,1BA | $1,199 |
The Village Place Flats | One Bedroom ADA | 1BR,1BA | $1,250 |
Trails Edge Apartments LLC | 3 bedroom 2 bathroom | 3BR,2BA | $1,250 |
The Pointe @ Merchant Square | 1BR/1.0BA | 1BR,1BA | $1,255 |
The Pearl | 1 Bedroom 1 Bath and Den | 1BR,1BA | $1,300 |
Straight River Apartments, LLC | 2 Bedroom 1 Bath | 2BR,1BA | $1,350 |
Pond View Heights Apartments | K-Phase 3 (now-flexible) | 1BR,1BA | $1,350 |
Best Value Apartments for Rent in Waterville, MN and Nearby
As of May 19, 2025 the best value apartment in the Waterville area is the $1.19 price per square foot 3 bed 2.5 bath (Exterior) Model at Fox Run Townhomes in the in the North Industrial Mankato neighborhood starting from $2,095. The second greatest value Waterville apartment is the Three Bed - Market Model at Fox Meadows Townhomes starting at $1,650 with a $1.34 price per square foot . Here is today’s list of the best values for Waterville apartments based on price per square foot:
Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
---|---|---|---|
Fox Run Townhomes | 3 bed 2.5 bath (Exterior) | 3BR,2.5BA | $1.19 |
Fox Meadows Townhomes | Three Bed - Market | 3BR,1.5BA | $1.34 |
Trails Edge Apartments LLC | 3 bedroom 2 bathroom | 3BR,2BA | $1.04 |
Woodside Apartments | Clubhouse 2b/2ba | 2BR,2BA | $1.39 |
Cardinal Creek Apartments | Two Bedroom | 2BR,2BA | $1.29 |
Park Plaza Apartments | 2B 999 sq.ft. | 2BR,1BA | $1.40 |
Straight River Apartments, LLC | 2 Bedroom 1 Bath | 2BR,1BA | $1.37 |
Town's Edge Place Apartments | 3 Bedroom | 3BR,2BA | $1.40 |
201 Pilgrim St | 2 Bedroom | 2BR,2BA | $1.08 |
Cedar Meadow Apartments | 3BR | 3BR,1BA | $1.30 |
Quick Rent Budget Calculator
How much rent can you afford?
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.
Remember the 3 Rules of Real Estate:Location, Location, Location!
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Getting Around Waterville, MN
Walk Score®
37 / 100
Car-Dependent
Most errands require a car
Bike Score®
44 / 100
Somewhat Bikeable
Minimal bike infrastructure
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 Waterville Apartments
How much is rent for a Cheap One Bedroom Waterville Apartment?
The lowest price for a Cheap One Bedroom Waterville Apartment is $975 at Town's Edge Place Apartments.
What is the lowest price for a Cheap Two Bedroom Waterville Apartment for rent?
Today's best deal for a Cheap Two Bedroom Apartment in Waterville is starting from $1,025 at 201 Pilgrim St.
What is the most affordable Waterville Three Bedroom Apartment?
The best deal on a cheap Waterville Three Bedroom Apartment rental is at Cedar Meadow Apartments and starts from $1,199.
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.

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.

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.