Cheap Apartments for Rent in Albert Lea, MN from $400 (60 Rentals)

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

property at 209 S Pearl St

$750

Total Monthly Price

Total Monthly Price

Base Rent
$750
Total Monthly Price
$750

2 Bedroom, 1 Bath Home for Rent

Available Now

209 S Pearl St

Albert LeaMN56007
property at 836 S Newton Ave

$925

Total Monthly Price

Total Monthly Price

Base Rent
$925
Total Monthly Price
$925

2 Bedroom, 1 Bath Home for Rent

Available Now

836 S Newton Ave

Albert LeaMN56007
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709 Marshall St
$950 - $1,350
Total Monthly Price12 Month Lease Term

Total Monthly Price

Base Rent
$950 - $1,350
Total Monthly Price
$950 - $1,350
1 to 2 Bedroom Apartment Available Now

709 Marshall St

709 Marshall StAlbert Lea, MN 56007
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Northstar Apartments
1 to 2 Bedroom Apartments

Northstar Apartments

820 S 4th AveAlbert Lea, MN 56007
  • Utilities Included
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Hilltop Manor Apartments
1 to 3 Bedroom Apartments

Hilltop Manor Apartments

826 S 4th AveAlbert Lea, MN 56007
Senior Living
  • Utilities Included
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Fountain Lake Estates
Studio to 2 Bedroom Apartments

Fountain Lake Estates

1702-1708 Sunset StAlbert Lea, MN 56007
  • Utilities Included

Rent According to Income: A Look at Income-Restricted Rentals

Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.

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221 Main St.
1 Bedroom Apartments

221 Main St.

221 E Main StAlbert Lea, MN 56007
property at 950 S 3rd Ave

$1,175

Total Monthly Price

Total Monthly Price

Base Rent
$1,175
Total Monthly Price
$1,175

2 Bedroom, 1 Bath Home for Rent

Available Aug 1

950 S 3rd Ave

Albert LeaMN56007

Renters Insurance 101: What It Is, What It Covers, and Why You Need It

From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.

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Northern Place Apartments
Rent Specials
$875 - $1,350
Total Monthly Price

Total Monthly Price

Base Rent
$795 - $1,270
Required Monthly Fees
$80
Total Monthly Price
$875 - $1,350
2 to 3 Bedroom Apartments Available Aug 14

Northern Place Apartments

203 SW 31st StAustin, MN 55912
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  • Utilities Included
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Aire
$1,020 - $1,560
Plus Fees
Studio to 2 Bedroom Apartments Contact Us For Availability

Aire

525 Hillcrest Ave SEOwatonna, MN 55060
Family Friendly
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  • Utilities Included
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How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Finding the right apartment starts with three things: location, cost, and amenities. Get the insider perspective from a real estate professional on how to nail all three.

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The Pearl
$1,140 - $1,690
Total Monthly Price

Total Monthly Price

Base Rent
$1,100 - $1,650
Required Monthly Fees
$40
Total Monthly Price
$1,140 - $1,690
1 to 2 Bedroom Apartments Available Aug 1

The Pearl

130 E Pearl StOwatonna, MN 55060
Luxury
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  • Customer Reviewed
  • Utilities Included
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Parkview Place
$1,160 - $1,460
Total Monthly Price12 Month Lease Term

Total Monthly Price

Base Rent
$1,045 - $1,345
Required Monthly Fees
$115
Total Monthly Price
$1,160 - $1,460
1 to 3 Bedroom Apartments Available Now

Parkview Place

303 27th St SWAustin, MN 55912
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  • Utilities Included
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West Lake Meadows
Rent Specials
$1,175 - $1,645
Total Monthly Price12 Month Lease Term

Total Monthly Price

Base Rent
$1,175 - $1,645
Total Monthly Price
Varies
Studio to 2 Bedroom Apartments Available Now

West Lake Meadows

1575 24th Ave NWOwatonna, MN 55060
Corporate Housing
  • Verified
  • Utilities Included
  • 3D Tour

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.

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Shalom Tower II
1 Bedroom Apartments

Shalom Tower II

321 4th St NEMason City, IA 50401
Senior Living
  • Utilities Included
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The Manor
1 to 2 Bedroom Apartments

The Manor

4 3rd St NWMason City, IA 50401
Senior Living
property at 1506 7th St SE

$900

Total Monthly Price12 Month Lease Term

Total Monthly Price

Base Rent
$900
Total Monthly Price
$900

1 Bedroom, 1 Bath Home for Rent

Available Now

1506 7th St SE

AustinMN55912
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204 3rd Ave SE
1 to 3 Bedroom Apartments

204 3rd Ave SE

204 3rd Ave SEMedford, MN 55049
  • Utilities Included
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Grant Village
1 Bedroom Apartments

Grant Village

815-843 6th St SWMason City, IA 50401
Senior Living
  • Utilities Included
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909 E Vine St
1 to 2 Bedroom Apartments

909 E Vine St

909 Vine St EOwatonna, MN 55060
property at 306 State Ave

$950

Total Monthly Price

Total Monthly Price

Base Rent
$950
Total Monthly Price
$950

1 Bedroom, 1 Bath Home for Rent

Available Now

306 State Ave

OwatonnaMN55060
property at 121 Main St S

$1,000

Total Monthly Price

Total Monthly Price

Base Rent
$1,000
Total Monthly Price
$1,000

Studio, 1 Bath Condo for Rent

Available Aug 1

121 Main St S

Grand MeadowMN55936

Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.

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Albert Lea, MN Local Guide

Cheapest Available Albert Lea Apartments for Rent and Nearby

 

The cheapest available apartment rental in Albert Lea, MN is a Studio unit found at Key Apartments priced from $500. 18 S Adams Ave has the second lowest priced unit, which is a 1 Bed apartment currently listed from $525. Here is today’s list of the most affordable Albert Lea apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Key ApartmentsEfficiencyStudio,1BA$500
18 S Adams AveOne Bedroom1BR,1BA$525
Skye Lofts Apartments1 Bedroom Unit1BR,1BA$790
City Center Kent Apartments1 Bedroom1BR,1BA$800
221 Main St.221 Main St. - 051BR,1BA$825
CityView Apartments2 Bed / 1 Bath2BR,1BA$865
GRAY GABLES OF ALBERT LEA2 Bedroom 1 Bathroom2BR,1BA$889
Kee Valley Apartments1 Bed, 1 bath1BR,1BA$900
A-Lea ApartmentsB and C Buildings1BR,1BA$900
Bricelyn PlazaOne bedroom1BR,1BA$900

Best Value Apartments for Rent in Albert Lea, MN and Nearby

As of July 23, 2026 the best value apartment in the Albert Lea area is the $1.09 price per square foot 2 Bedroom Loft Model at Skye Lofts Apartments in the starting from $1,490. The second greatest value Albert Lea apartment is the 2B 1011 sq. ft. Model at Park Plaza Apartments starting at $1,430 with a $1.41 price per square foot in the Downtown Owatonna neighborhood. Here is today’s list of the best values for Albert Lea apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Skye Lofts Apartments2 Bedroom Loft2BR,1.5BA$1.09
Park Plaza Apartments2B 1011 sq. ft.2BR,1BA$1.41
Northern Place ApartmentsTwo Bedroom2BR,1BA$0.97
GRAY GABLES OF ALBERT LEA2 Bedroom 1 Bathroom2BR,1BA$1.07
Kee Valley Apartments2 Beds, 1 bath2BR,1BA$1.14
CityView Apartments2 Bed / 1 Bath2BR,1BA$1.10
709 Marshall St709 Marshall St1BR,1BA$1.28
221 Main St.221 Main St. - 051BR,1BA$1.32
City Center Kent Apartments1 Bedroom1BR,1BA$1.33
18 S Adams AveOne Bedroom1BR,1BA$0.95

Don't Settle: How to Negotiate Your Apartment Lease and Save Money

Discover the insider tips from an attorney and real estate agent on how to negotiate your next apartment lease. Find out what's on the table and what's not, so you can save money and get the best terms possible.

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Real Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University

From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.

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Best Local Schools in
Albert Lea, MN

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

Explore Albert Lea, MN Rentals by Map

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See the most popular apartments and homes in Albert Lea, MN

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Frequently Asked Questions about Cheap Albert Lea Apartments

What is the Cheapest Studio apartment in Albert Lea?

Currently the most affordable Cheap Studio Apartment in Albert Lea is at Key Apartments listed at $500.

How much is rent for a Cheap One Bedroom Albert Lea Apartment?

The lowest price for a Cheap One Bedroom Albert Lea Apartment is $525 at 18 S Adams Ave.

What is the lowest price for a Cheap Two Bedroom Albert Lea Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Albert Lea is starting from $865 at CityView Apartments.

What is the most affordable Albert Lea Three Bedroom Apartment?

The best deal on a cheap Albert Lea Three Bedroom Apartment rental is at Parkview Place and starts from $1,460.

Expert Rental Resources

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.

Articles, How-To's, and Tips

decorative image for Rent According to Income: A Look at Income-Restricted Rentals article

Rent According to Income: A Look at Income-Restricted Rentals

Written by: Robin Stewart

The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.

decorative image for Renters Insurance 101: What It Is, What It Covers, and Why You Need It article

Renters Insurance 101: What It Is, What It Covers, and Why You Need It

Written by: Robin Stewart

Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.

decorative image for Apartment Occupancy Rates: Renter Attraction vs Renter Retention article

Apartment Occupancy Rates: Renter Attraction vs Renter Retention

Written by: Robin Stewart

There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.

decorative image for How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide article

How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Written by: Robin Stewart

Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.