Cheap Apartments for Rent in Fairmont, MN from $500 (59 Rentals)

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

property at 114 E 8th St

$590

Total Monthly Price

Total Monthly Price

Base Rent
$590

Total Monthly Price
$590

1 Bedroom, 1 Bath Home for Rent

Available Now

114 E 8th St

FairmontMN56031
property at 650 Summit Dr

$705

Total Monthly Price

Total Monthly Price

Base Rent
$705

Total Monthly Price
$705

2 Bedroom, 1 Bath Home for Rent

Available Now

650 Summit Dr

FairmontMN56031
property at 2209 N North Ave

$950

Total Monthly Price12 Month Lease Term

Total Monthly Price

Base Rent
$950

Total Monthly Price
$950

2 Bedroom, 1 Bath Home for Rent

Available Now

2209 N North Ave

FairmontMN56031
property at 910 Hengen St

$1,000

Total Monthly Price

Total Monthly Price

Base Rent
$1,000

Total Monthly Price
$1,000

3 Bedroom Rentals

Available Now

910 Hengen St

FairmontMN56031

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.

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.

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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River Bluff Apartments
$1,030 - $1,580
Total Monthly Price12 Month Lease Term

Total Monthly Price

Base Rent
$1,000 - $1,550
Required Monthly Fees
Varies

Total Monthly Price
Varies
1 to 3 Bedroom Apartments Available Now

River Bluff Apartments

405 N 5th StMankato, MN 56001
Family Friendly
  • Verified
  • Customer Reviewed
  • 3D Tour
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Hoover Estates
$1,065
Total Monthly Price

Total Monthly Price

Base Rent
$1,050
Required Monthly Fees
$15

Total Monthly Price
$1,065
2 Bedroom Apartments Contact Us For Availability

Hoover Estates

1866 Lee BlvdNorth Mankato, MN 56003
55+ Active Adult
  • Verified
  • Utilities Included
  • Low Income
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Woodside Apartments
$1,110 - $1,615
Total Monthly Price12 Month Lease Term

Total Monthly Price

Base Rent
$1,095 - $1,600
Required Monthly Fees
$15

Total Monthly Price
$1,110 - $1,615
Studio to 3 Bedroom Apartments Available Now

Woodside Apartments

161-351 E Roosevelt CirMankato, MN 56001
Family Friendly
  • Verified
  • Utilities Included
  • 3D Tour
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The Edge Apartments
$1,080 - $1,330
Total Monthly Price12 Month Lease Term

Total Monthly Price

Base Rent
$1,050 - $1,300
Required Monthly Fees
Varies

Total Monthly Price
Varies
1 to 2 Bedroom Apartments Available Jun 5

The Edge Apartments

1902 Warren StMankato, MN 56001
Outdoors
  • Verified
  • Customer Reviewed
  • Utilities Included

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.

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Lewis Lofts
1 to 2 Bedroom Apartments

Lewis Lofts

209 Dewey StMankato, MN 56001
Senior Living
  • Utilities Included
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Tanglewood Estates
1 to 2 Bedroom Apartments

Tanglewood Estates

1755-1757 4th AveWindom, MN 56101
  • Utilities Included
property at 633 S 2nd St

$695

Total Monthly Price

Total Monthly Price

Base Rent
$695

Total Monthly Price
$695

1 Bedroom, 1 Bath Condo for Rent

Available Apr 30

633 S 2nd St

MankatoMN56001
property at 220 E 7th St

$795

Total Monthly Price

Total Monthly Price

Base Rent
$795

Total Monthly Price
$795

1 Bedroom, 1 Bath Condo for Rent

Available May 2

220 E 7th St

Albert LeaMN56007
property at 326 E Washington St

$875

Total Monthly Price

Total Monthly Price

Base Rent
$875

Total Monthly Price
$875

1 Bedroom, 1 Bath Condo for Rent

Available Jun 5

326 E Washington St

MankatoMN56001

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.

Fairmont, MN Local Guide

Cheapest Available Fairmont Apartments for Rent and Nearby

 

The cheapest available apartment rental in Fairmont, MN is a 1 Bed unit found at Burt 18-Unit (Countryside Properties) priced from $525. Meadow Bloom Apartments has the second lowest priced unit, which is a 2 Beds apartment currently listed from $607. Here is today’s list of the most affordable Fairmont apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Burt 18-Unit (Countryside Properties)1 Bedroom1BR,1BA$525
Meadow Bloom Apartments2 Bedroom2BR,1BA$607
Eytcheson Estates Sherburn2 Bedroom2BR,1BA$701
Eytcheson Estates Welcome1 Bedroom2BR,1BA$701
1212 Heckman CtStudioStudio,1BA$750
Tallgrass Village Apartments & TownhomesStudio ApartmentStudio,1BA$755
Hartshorn Manor1 Bed, 1 bath1BR,1BA$840
Lewis Lofts1a1t1BR,1BA$855
Glenwood Terrace1 BR/1 BA1BR,1BA$880
Bricelyn PlazaOne bedroom1BR,1BA$900

Best Value Apartments for Rent in Fairmont, MN and Nearby

As of April 29, 2026 the best value apartment in the Fairmont area is the $0.66 price per square foot Three Bedroom Model at 442 Belgrade Ave in the in the City Center Mankato neighborhood starting from $1,050. The second greatest value Fairmont apartment is the Three Bedroom Model at Eagle Ridge Townhomes starting at $1,065 with a $0.79 price per square foot . Here is today’s list of the best values for Fairmont apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
442 Belgrade AveThree Bedroom3BR,2BA$0.66
Eagle Ridge TownhomesThree Bedroom3BR,1.5BA$0.79
Windom Landing2 Bedroom - Lower Level ADA2BR,2BA$0.89
Ashley Estates2 Bedroom2BR,2BA$1.11
Trimont Square Apartments1 Bed, 1 bath1BR,1BA$1.04
1212 Heckman CtStudioStudio ,1BA$0.83
Meadow Bloom Apartments2 Bedroom2BR,1BA$0.79
Bunting Lane ApartmentsIndividual Roommates Included!2BR,2BA$0.92
Eytcheson Estates Sherburn2 Bedroom2BR,1BA$0.93
Eytcheson Estates Welcome1 Bedroom2BR,1BA$0.93

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Quick 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.

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

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Frequently Asked Questions about Cheap Fairmont Apartments

What is the Cheapest Studio apartment in Fairmont?

Currently the most affordable Cheap Studio Apartment in Fairmont is at 1212 Heckman Ct listed at $750.

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

The lowest price for a Cheap One Bedroom Fairmont Apartment is $525 at Burt 18-Unit (Countryside Properties).

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

Today's best deal for a Cheap Two Bedroom Apartment in Fairmont is starting from $607 at Meadow Bloom Apartments.

What is the most affordable Fairmont Three Bedroom Apartment?

The best deal on a cheap Fairmont Three Bedroom Apartment rental is at 442 Belgrade Ave and starts from $1,050.

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

decorative image for Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts  article

Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts

Written by: Lauren Harrington

This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.

decorative image for What Does “Rent Burdened” Mean? How Much Rent Is Too Much article

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.

decorative image for Maximizing Your Refund: Essential Tax Tips for Renters article

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.

decorative image for 18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property article

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.