
Cheap Apartments for Rent in Elko, MN from $800 (56 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

Riverview Manor

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Hidden Valley Apartments

Kraewood Flats - Rent Special

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Southwind Village

Timberfield Apartments

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Creekside Commons Apartments

5th Street Lofts
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.

Old Town Apartments

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The Oaks of Lakeville

Centennial & Heritage Apartments

Maple Trails Apartments

Courtwood Village I

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Northlake Lofts

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The Overlook at Crystal Lake

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The Grainwood Senior Apartments

The Village at Five Hawks

Hearthwood 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.

Mosaic Apartments

Bohemia Flats

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Authentix Lakeville

Courtwood Village 2

LakeVillage Apartments

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Springs at Lakeville

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SouthFork Townhomes + Flats

Arris Lakeville

The Emery Apartments

Lakeville Woods
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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The Edison at Avonlea

Marion Crossing

Dundas Apartments

Spero Senior Living

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Lakeside Flats

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The Murphy

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Rye Apartments

Brooksville

Kestrel Village Apartments

501 1st 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.

12655 Garner Way

94 Viking Terrace

20577 Erin Ct

3315 Skyview Dr

9830 Upper 161st St W

993 Oriole Dr

345 Brutus Dr

12710 Granger Ct

7255 126th St W

12585 Gavotte Ave
Smart Renter's Guide: Calculating Affordable Rent & Housing Costs
Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.
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 | $1,427 | $1,131 | $1,593 |
| Elko 1 Bedroom Apartments | $1,626 | $831 | $2,020 |
| Elko 2 Bedroom Apartments | $1,944 | $1,010 | $2,800 |
| Elko 3 Bedroom Apartments | $2,703 | $1,755 | $3,550 |
| Elko 4 Bedroom Apartments | $3,980 | $3,950 | $4,100 |
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 2 Beds unit found at Hidden Valley Apartments in the Green Meadows neighborhood priced from $1,010. Southwind Village in the Oak Shores neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $1,205. Here is today’s list of the most affordable Elko apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Hidden Valley Apartments | ** COMING SOON ** | 2BR,1BA | $1,010 |
| Southwind Village | S1 | Studio,1BA | $1,205 |
| Timberfield Apartments | Studio-Loft C | Studio,1BA | $1,260 |
| Old Town Apartments | B - 1 Bed 1 Bath | 1BR,1BA | $1,350 |
| Centennial & Heritage Apartments | 2 BD/1 BA | 2BR,1BA | $1,350 |
| Maple Trails Apartments | ** COMING SOON ** | 2BR,1BA | $1,350 |
| Courtwood Village I | 1 Bed/ 1 Bath Model A | 1BR,1BA | $1,359 |
| Northlake Lofts | Sugar | Studio,1BA | $1,363 |
| The Grainwood Senior Apartments | One Bedroom - F | 1BR,1BA | $1,395 |
| Mosaic Apartments | Studio | Studio,1BA | $1,400 |
Best Value Apartments for Rent in Elko, MN and Nearby
As of April 22, 2026 the best value apartment in the Elko area is the $1.59 price per square foot D1 Glenwood Model at The Crossing at Ritter Meadows in the in the Wood Hill neighborhood starting from $3,125. The second greatest value Elko apartment is the Willow C Model at Lakeville Woods starting at $1,810 with a $1.61 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 | $1.59 |
| Lakeville Woods | Willow C | 1BR,1BA | $1.61 |
| The Edison at Avonlea | LAMARR II (ACC) | 2BR,2BA | $1.78 |
| Hidden Valley Apartments | ** COMING SOON ** | 2BR,1BA | $1.11 |
| Marion Crossing | Two Bedroom Flat | 2BR,1BA | $1.78 |
| Dundas Apartments | 2 bed, 1 bath | 2BR,1BA | $1.78 |
| Maple Trails Apartments | ** COMING SOON ** | 2BR,1BA | $1.61 |
| Centennial & Heritage Apartments | 2 BD/1 BA | 2BR,1BA | $1.72 |
| Courtwood Village I | 1 Bed/ 1 Bath Model A | 1BR,1BA | $1.78 |
| Old Town Apartments | B - 1 Bed 1 Bath | 1BR,1BA | $1.78 |
10 Hidden Costs of Renting You Should Budget for Before Signing a Lease
Avoid financial stress when renting. Learn about the 10 most common hidden costs—from pet fees to utilities—you must budget for before you sign a lease.
Read ArticleDon'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 ArticleThe Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro
Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.
Read ArticleCash 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.
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 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 Southwind Village listed at $1,205.
How much is rent for a Cheap One Bedroom Elko Apartment?
The lowest price for a Cheap One Bedroom Elko Apartment is $1,341 at Southwind Village.
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

What Does “Rent Burdened” Mean? How Much Rent Is Too Much
Written by: Lauren Harrington
This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.

Maximizing Your Refund: Essential Tax Tips for Renters
Written by: Christine Leonard, Esq.
Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.

18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property
Written by: Lauren Harrington
Renting your next home can feel thrilling and overwhelming at the same time.

A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment
Written by: Bob Mallory
Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.