
Cheap Homes for Rent in Elbow Lake, MN from $400 (8 Rentals)
Search the lowest-cost Homes available for rent right now in Elbow Lake.


902 1st St S

500 1st Ave S

511 Main Ave N
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.

1624 8th St N

1612 8th St N

1652 8th St N

17 3rd Ave NE
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.
Elbow Lake, MN Local Guide

How much does it cost to rent a home in Elbow Lake?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Elbow Lake 2 Bedroom Homes for Rent | $933 | $400 | $1,400 |
| Elbow Lake 3 Bedroom Homes for Rent | $2,017 | $975 | $2,495 |
| Elbow Lake 4 Bedroom Homes for Rent | $2,617 | $2,325 | $2,900 |
| Elbow Lake 5 Bedroom Homes for Rent | $2,500 | $2,500 | $2,500 |
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Elbow Lake, MN Local Guide
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Cheapest Available Elbow Lake Apartments for Rent and Nearby
 The cheapest available apartment rental in Elbow Lake, MN is a 2 Beds unit found at Elmwood Terrace priced from $600. Riverside Apartments has the second lowest priced unit, which is a Studio apartment currently listed from $695. Here is today’s list of the most affordable Elbow Lake apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Elmwood Terrace | 2BR/1.0BA | 2BR,1BA | $600 |
| Riverside Apartments | 911 studios | Studio,1BA | $695 |
| North Valley Apartments | Efficiency | Studio,1BA | $700 |
Best Value Apartments for Rent in Elbow Lake, MN and Nearby
As of August 07, 2026 the best value apartment in the Elbow Lake area is the $1.16 price per square foot 3B2B Model at Pheasant Run in the starting from $1,394. The second greatest value Elbow Lake apartment is the 2 Bedrooms, 2 full, 1141 sqft, 3709 South Broad... Model at Lakewood Terrace-3707 starting at $1,485 with a $1.30 price per square foot . Here is today’s list of the best values for Elbow Lake apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Pheasant Run | 3B2B | 3BR,2BA | $1.16 |
| Lakewood Terrace-3707 | 2 Bedrooms, 2 full, 1141 sqft, 3709 South Broad... | 2BR,2BA | $1.30 |
| Broadway Garden Estates | 1 bedroom 1 bathroom | 1BR,1BA | $1.19 |
| Cardinal Estates | 2 Bedroom 1 Bathroom | 2BR,1BA | $1.09 |
| Runestone Grand Apartments | 2 Bedroom | 2BR,1BA | $1.07 |
| Lakewood Apartments | 2 BD/1 BA | 2BR,1BA | $1.29 |
| Center Street Apartments | Wahp 2 bed | 2BR,1BA | $0.99 |
| McKay Apartments | 2 Bed/1 Bath | 2BR,1BA | $1.25 |
| Spruce Place Apartments | 2 Bedroom | Spruce Place | 2BR,1BA | $1.05 |
| Elmwood Terrace | 2BR/1.0BA | 2BR,1BA | $0.92 |
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.
Read ArticleReal 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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Remember the 3 Rules of Real Estate:Location, Location, Location!
Explore Elbow Lake, MN Rentals by Map
See the most popular apartments and homes in Elbow Lake, MN
Frequently Asked Questions about Elbow Lake
What type of rentals are currently available in Elbow Lake?
There are currently 68 Apartments for Rent in Elbow Lake, MN with pricing that ranges from $695 to $2,919. There are also 38 Single Family Homes for rent, Condos, and Townhome rentals currently available in Elbow Lake ranging from $400 to $2,900.
What is the current price range for Rental Homes in Elbow Lake?
Today's rental pricing for Homes for Rent, Condos and Townhomes in Elbow Lake ranges from $400 to $2,900 with an average monthly rent of $1,692.
How much are larger Three and Four Bedroom Rentals in Elbow Lake?
For those who are looking for larger living arrangements, Three Bedroom Apartments in Elbow Lake range from $1,145 to $1,995, while Three Bedroom Homes, Condos, and Townhomes for rent range from $975 to $2,495. Four Bedroom Single-Family rentals are also available starting from $2,325 and Four Bedroom Apartments start at $1,270.
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

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.

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.

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.

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.