Cheap Homes for Rent in Forest Lake, MN from $1,500 (15 Rentals)

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Search the lowest-cost Homes available for rent right now in Forest Lake.

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 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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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.

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Showing Results 1-15, Page 1 of 1

Forest Lake, MN Local Guide

Cheapest Available Forest Lake Apartments for Rent

 

The cheapest available apartment rental in Forest Lake, MN is a Studio unit found at Arbor View Apartments in the Washington Far Eastern Suburbs neighborhood priced from $1,040. Westview Apartments in the Washington Far Eastern Suburbs neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,099. Here is today’s list of the most affordable Forest Lake apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Arbor View ApartmentsStudio 6-01Studio,1BA$1,040
Westview ApartmentsOne Bedroom One Bath1BR,1BA$1,099
Autumn Hills ApartmentsBirch2BR,1BA$1,110
Forest Park II Apartments1 Bedroom1BR,1BA$1,202
North Shore Apartments1 Bedroom1BR,1BA$1,278

Best Value Apartments for Rent in Forest Lake, MN

As of June 26, 2025 the best value apartment in the Forest Lake area is the $1.79 price per square foot 3 Bedroom/2 Bath B Model at Forest Creek in the in the Washington Far Eastern Suburbs neighborhood starting from $2,495. The second greatest value Forest Lake apartment is the Laguna Model at Mill Pond Apartments starting at $1,788 with a $1.57 price per square foot in the Washington Far Eastern Suburbs neighborhood. Here is today’s list of the best values for Forest Lake apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Forest Creek3 Bedroom/2 Bath B3BR,2BA$1.79
Mill Pond ApartmentsLaguna3BR,1BA$1.57
Legacy Pointe ApartmentsLaguna3BR,1BA$1.70
Birchview ApartmentsGeneva3BR,1BA$1.50
Springwood ApartmentsGeneva3BR,1BA$1.50
Greystone ApartmentsTahoe3BR,1BA$1.63
North Shore Apartments2 Bedroom2BR,1BA$1.61
Autumn Hills ApartmentsBirch2BR,1BA$1.11
Northbrook ApartmentsTahoe3BR,1BA$1.47
Westview ApartmentsOne Bedroom One Bath1BR,1BA$1.81

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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Frequently Asked Questions about Forest Lake

What type of rentals are currently available in Forest Lake?

There are currently 40 Apartments for Rent in Forest Lake, MN with pricing that ranges from $995 to $3,031. There are also 55 Single Family Homes for rent, Condos, and Townhome rentals currently available in Forest Lake ranging from $1,595 to $6,000.

What is the current price range for Rental Homes in Forest Lake?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Forest Lake ranges from $1,595 to $6,000 with an average monthly rent of $3,198.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

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.

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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

Written by: Cheryl Bowman

A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.

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The Art of the Rental Viewing: What to look for during a property tour

Written by: Marie Brown

You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.

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Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.

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The Freedom of Short-Term Leases: Exploring the Advantages for Renters

Written by: Bobbi Jackson

If you’re looking to relocate right now, a popular solution that may best fit your current rental needs is a short-term lease.