
Cheap Apartments for Rent in Elko, MN from $800 (48 Rentals)
Search the lowest-cost Apartments available for rent right now in Elko.


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Woodridge Apartments

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Northfield Estates

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Hidden Valley Apartments

Riverview Manor

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Southwind Village

Timberfield Apartments

Kraewood Flats - Summer Rent Special through July 31 2026

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Creekside Commons Apartments
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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The Oaks of Lakeville

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Authentix Lakeville

Centennial & Heritage Apartments

Maple Trails Apartments

The Village at Five Hawks

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The Overlook at Crystal Lake

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The Grainwood Senior Apartments

Hearthwood Apartments

Mosaic Apartments
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.

Bohemia Flats

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Arris Lakeville

Old Town Apartments

LakeVillage Apartments

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Springs at Lakeville

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Lakeside Flats

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Northlake Lofts

5th Street Lofts

Lakeville Woods
Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting
Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.

The Emery Apartments

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The Edison at Avonlea

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The Murphy

Marion Crossing

Courtwood Village I

Dundas Apartments

Spero Senior Living

Courtwood Village 2

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Rye Apartments
Roommate Matching: Finding the Right Fit and Avoiding Pitfalls
When searching for a roommate, follow this list of essential steps and set clear expectations to create a solid foundation for a harmonious living situation.

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SouthFork Townhomes + Flats

Brooksville

Kestrel Village Apartments

51 Viking Terrace

9830 Upper 161st St W

504 Juliet Dr

3315 Skyview Dr

12710 Granger Ct

7255 126th St W
The Art of the Rental Viewing: What to look for during a property tour
Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

12585 Gavotte Ave

7155 126th St W

220 1st St
Elko, MN Local Guide

How much does it cost to rent an apartment in Elko?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Elko Studio Apartments | $1,357 | $1,005 | $1,573 |
| Elko 1 Bedroom Apartments | $1,577 | $831 | $1,925 |
| Elko 2 Bedroom Apartments | $1,901 | $1,010 | $3,000 |
| Elko 3 Bedroom Apartments | $2,862 | $1,755 | $3,750 |
| Elko 4 Bedroom Apartments | $4,180 | $4,150 | $4,300 |
Browse Top Apartments in Elko
See all Apartments in ElkoExplore Elko
Elko, MN Local Guide
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Cheapest Available Elko Apartments for Rent and Nearby
 The cheapest available apartment rental in Elko, MN is a 1 Bed unit found at Woodridge Apartments in the Green Meadows neighborhood priced from $910. Riverview Manor in the Green Meadows neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $995. Here is today’s list of the most affordable Elko apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Woodridge Apartments | ** COMING SOON ** Surround yourself with nature. | 1BR,1BA | $910 |
| Riverview Manor | 1 BD 1 BA | 1BR,1BA | $995 |
| Hidden Valley Apartments | ** COMING SOON ** | 2BR,1BA | $1,010 |
| Southwind Village | A1 | 1BR,1BA | $1,136 |
| Centennial & Heritage Apartments | 2 BD/1 BA (720) | 2BR,1BA | $1,350 |
| The Village at Five Hawks | 1BR/1.0BA | 1BR,1BA | $1,350 |
| The Overlook at Crystal Lake | S1 | Studio,1BA | $1,360 |
| The Grainwood Senior Apartments | One Bedroom - E | 1BR,1BA | $1,395 |
| Bohemia Flats | One Bedroom One Bathroom | 1BR,1BA | $1,400 |
| Mosaic Apartments | Studio | Studio,1BA | $1,400 |
Best Value Apartments for Rent in Elko, MN and Nearby
As of June 06, 2026 the best value apartment in the Elko area is the $1.69 price per square foot D1 Glenwood Model at The Crossing at Ritter Meadows in the in the Wood Hill neighborhood starting from $3,325. The second greatest value Elko apartment is the Willow A Model at Lakeville Woods starting at $1,678 with a $1.59 price per square foot in the Donnelly Farm neighborhood. Here is today’s list of the best values for Elko apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| The Crossing at Ritter Meadows | D1 Glenwood | 3BR,2.5BA | $1.69 |
| Lakeville Woods | Willow A | 1BR,1BA | $1.59 |
| Creekside Commons Apartments | 2BR/1.0BA | 2BR,1BA | $1.67 |
| Timberfield Apartments | Two Bedroom/ Two Bathroom | 2BR,2BA | $1.73 |
| Courtwood Village 2 | 2 Bed/1 Bath | 2BR,1BA | $1.73 |
| Hidden Valley Apartments | ** COMING SOON ** | 2BR,1BA | $1.11 |
| Marion Crossing | Two Bedroom Flat | 2BR,1BA | $1.78 |
| Riverview Manor | 1 BD 1 BA | 1BR,1BA | $1.27 |
| Southwind Village | A1 | 1BR,1BA | $1.57 |
| Woodridge Apartments | ** COMING SOON ** Surround yourself with nature. | 1BR,1BA | $1.36 |
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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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 Elko, MN Rentals by Map
See the most popular apartments and homes in Elko, MN
Frequently Asked Questions about Cheap Elko Apartments
What is the Cheapest Studio apartment in Elko?
Currently the most affordable Cheap Studio Apartment in Elko is at The Overlook at Crystal Lake listed at $1,360.
How much is rent for a Cheap One Bedroom Elko Apartment?
The lowest price for a Cheap One Bedroom Elko Apartment is $910 at Woodridge Apartments.
What is the lowest price for a Cheap Two Bedroom Elko Apartment for rent?
Today's best deal for a Cheap Two Bedroom Apartment in Elko is starting from $1,010 at Hidden Valley Apartments.
What is the most affordable Elko Three Bedroom Apartment?
The best deal on a cheap Elko Three Bedroom Apartment rental is at LakeVillage Apartments and starts from $1,755.
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

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.

Neighborhood and Market Insights: How to Choose the Right Area to Rent
Written by: Robin Stewart
Apartment-hunting can be a gargantuan task. Renters have a wish list of items—some luxuries, some necessities—but finding what you seek in the right place is perhaps the most important part of the journey.

A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back
Written by: Lauren Harrington
I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.