
Cheap Homes for Rent in Elbow Lake, MN from $400 (12 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

1605 7th St N

1624 8th St N
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.

1612 8th St N

1606 8th St N

702 8th Ave N

1652 8th St N

1628 Patterson Loop

17 3rd Ave NE
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.
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 | $840 | $400 | $1,300 |
| Elbow Lake 3 Bedroom Homes for Rent | $2,032 | $975 | $2,500 |
| Elbow Lake 4 Bedroom Homes for Rent | $2,487 | $1,500 | $4,000 |
| Elbow Lake 5 Bedroom Homes for Rent | $2,500 | $2,500 | $2,500 |
Browse Top Homes for Rent in Elbow Lake
Explore Elbow Lake
Elbow Lake, MN Local Guide
- Nearby Cities
- ZIP codes
- Local Counties
- School Districts
Cheapest Available Elbow Lake Apartments for Rent and Nearby
 The cheapest available apartment rental in Elbow Lake, MN is a 1 Bed unit found at Heritage Square priced from $575. 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 |
|---|---|---|---|
| Heritage Square | 1 Bed, 1 bath | 1BR,1BA | $575 |
| Riverside Apartments | 911 studios | Studio,1BA | $695 |
| North Valley Apartments | Efficiency | Studio,1BA | $700 |
| Eastside Acres | 1 Bed, 1 bath | 1BR,1BA | $761 |
| Nature's Edge Apartments | 1B1B MKT | 1BR,1BA | $769 |
Best Value Apartments for Rent in Elbow Lake, MN and Nearby
As of June 22, 2026 the best value apartment in the Elbow Lake area is the $1.19 price per square foot 2 Beds, 1 Baths Model at Campus View Historic Apartments in the starting from $1,375. The second greatest value Elbow Lake apartment is the 2 Bedroom | Laurel Place Model at Spruce Place Apartments starting at $900 with a $1.01 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. |
|---|---|---|---|
| Campus View Historic Apartments | 2 Beds, 1 Baths | 2BR,1BA | $1.19 |
| Spruce Place Apartments | 2 Bedroom | Laurel Place | 2BR,1BA | $1.01 |
| Runestone Grand Apartments | 2 Bedroom | 2BR,1BA | $1.07 |
| East Side Stories Apartments | 2 bed | 2BR,1BA | $1.17 |
| Center Street Apartments | Wahp 2 bed | 2BR,1BA | $0.99 |
| Cardinal Estates | 1 Bedroom 1 Bathroom | 1BR,1BA | $1.05 |
| Westfield Apartments | 1 Bed 1 Bath Bld 3 | 1BR,1BA | $1.49 |
| McKay Apartments | 2 Bed/1 Bath | 2BR,1BA | $1.25 |
| Cascade Apartments | One Bedroom | 1BR,1BA | $1.33 |
| Lakewood Apartments | 1 BD/1 BA | 1BR,1BA | $1.45 |
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.
Read ArticleQuick 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!
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 65 Apartments for Rent in Elbow Lake, MN with pricing that ranges from $575 to $2,819. There are also 39 Single Family Homes for rent, Condos, and Townhome rentals currently available in Elbow Lake ranging from $400 to $4,000.
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 $4,000 with an average monthly rent of $1,697.
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 $2,500. Four Bedroom Single-Family rentals are also available starting from $1,500 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

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.

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.

Pet-Friendly Renting: Everything You Need to Know Before You Move
Written by: Christine Leonard, Esq.
For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.

Creative Ways Developers Reimagine Retail Spaces as Residential Units
Written by: Robin Stewart
Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.