Cheap Apartments for Rent in Balaton, MN from $595 (65 Rentals)

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

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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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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Red Skye Lofts
$950 - $1,790
Total Monthly Price

Total Monthly Price

Base Rent
$890 - $1,730
Required Monthly Fees
$60
Total Monthly Price
$950 - $1,790
1 to 3 Bedroom Apartments Available Now

Red Skye Lofts

100 Fallwood RdRedwood Falls, MN 56283
Furnished
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  • Utilities Included
  • Smoke Free

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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Lyon County Apartments
Studio to 1 Bedroom Apartments

Lyon County Apartments

200 S 4th StMarshall, MN 56258
Senior Living
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Stately Manor Apartments
1 to 2 Bedroom Apartments

Stately Manor Apartments

1525-1535 Darling DrWorthington, MN 56187
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Westside Apartments
1 to 2 Bedroom Apartments

Westside Apartments

1851 26th StSlayton, MN 56172
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River Ridge Apartments
1 to 2 Bedroom Apartments

River Ridge Apartments

201 S Minnesota StRedwood Falls, MN 56283
  • Utilities Included

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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Damax Apartments
1 to 2 Bedroom Apartments

Damax Apartments

602 E Warren StLuverne, MN 56156
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Tanglewood Estates
1 to 2 Bedroom Apartments

Tanglewood Estates

1755-1757 4th AveWindom, MN 56101
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Woodland Park - Ivanhoe
1 to 2 Bedroom Apartments

Woodland Park - Ivanhoe

106 N County Road 5Ivanhoe, MN 56142
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Buffalo Ridge Apartments
1 to 2 Bedroom Apartments

Buffalo Ridge Apartments

2107 Nobles StWorthington, MN 56187
Senior Living
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City Centre Apartments
Studio to 3 Bedroom Apartments

City Centre Apartments

109 E Luverne StLuverne, MN 56156
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Oakwood Apartments
1 Bedroom Apartments

Oakwood Apartments

401 S Oak StEllsworth, MN 56129
  • Utilities Included

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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Balaton, MN Local Guide

Cheapest Available Balaton Apartments for Rent and Nearby

 

The cheapest available apartment rental in Balaton, MN is a 1 Bed unit found at 512 Vernon Ave priced from $595. Ridgeview Place Apartments in the Mystic Meadows neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $599. Here is today’s list of the most affordable Balaton apartments for rent:

Apartment ListingModel NameBed/BathPriced From
512 Vernon AveOne Bedroom1BR,1BA$595
Ridgeview Place Apartments0BR/1.0BAStudio,1BA$599
Wildwood Apartments1BR/1.0BA1BR,1BA$725
Sunshine Apartments1 Bedroom and 1 bathroom1BR,1BA$725
Bethel On BryantRenville - 1/11BR,1BA$745
Suite Liv'n - MarshallOne Bedroom1BR,1BA$775
Downtown Estates1 Bed, 1 bath1BR,1BA$795
Aspen Ridge ReserveStudio ApartmentStudio,1BA$810
Willows South CommonsStudioStudio,1BA$825
Okabena Tower 62+1 BR/1 BA1BR,1BA$827

Best Value Apartments for Rent in Balaton, MN and Nearby

As of August 24, 2026 the best value apartment in the Balaton area is the $0.73 price per square foot Two Bedroom Model at Paris Park Townhomes in the in the Downtown Marshall neighborhood starting from $1,180. The second greatest value Balaton apartment is the 2bed/2bath Model at Windom Landing starting at $975 with a $0.84 price per square foot . Here is today’s list of the best values for Balaton apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Paris Park TownhomesTwo Bedroom2BR,1.5BA$0.73
Windom Landing2bed/2bath2BR,2BA$0.84
Willows EastTownhome 2 Bedroom 1.5 Bathroom2BR,1.5BA$1.34
100 W 10th St2x1.52BR,1.5BA$1.09
LAKESIDE APTS OF WINDOM2 BED 2 BATH2BR,2BA$1.19
Campus View2 Bed + 2 Bath2BR,2BA$1.20
Nobles Square Apartments2 Bedroom2BR,1BA$1.11
Downtown Estates1 Bed, 1 bath1BR,1BA$0.99
512 Vernon AveTwo Bedroom2BR,1BA$0.87
Sunshine Apartments1 Bedroom and 1 bathroom1BR,1BA$1.21

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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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.

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

Explore Balaton, MN Rentals by Map

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Frequently Asked Questions about Cheap Balaton Apartments

What is the Cheapest Studio apartment in Balaton?

Currently the most affordable Cheap Studio Apartment in Balaton is at Ridgeview Place Apartments listed at $599.

How much is rent for a Cheap One Bedroom Balaton Apartment?

The lowest price for a Cheap One Bedroom Balaton Apartment is $595 at 512 Vernon Ave.

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

Today's best deal for a Cheap Two Bedroom Apartment in Balaton is starting from $695 at 512 Vernon Ave.

What is the most affordable Balaton Three Bedroom Apartment?

The best deal on a cheap Balaton Three Bedroom Apartment rental is at Suite Liv'n - Marshall and starts from $1,150.

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

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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.

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Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags

Written by: Robin Stewart

Renters want to find a great apartment, the right place for them, one that checks all the boxes of location, rental cost, amenities, safety, and more.

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First Apartment Regrets: Real Renters Share What They'd Do Differently

Written by: Robin Stewart

Hindsight is 20/20. Live and Learn. With age comes wisdom. We’re familiar with all those expressions, and all of them apply to lessons first-time renters learn.

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.