
Cheap Apartments for Rent in the Schmidt Lake Neighborhood of Inver Grove Heights, MN from $700 (46 Rentals)
Search the lowest-cost Apartments available for rent right now in the Schmidt Lake area of Inver Grove Heights.


Southview Greens

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Lake Cove Village

Salem Green

Total Monthly Price
Avana Southview

Ives of Inver Grove

Blackberry Pointe Apartments

617 2nd Ave S

Westview Park Community
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.

Somerset Green/Sandalwood Place

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Stoneridge

Waterford Green Apartments & Townhomes

Heritage Crest Apartments

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Charlton Place

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405 10th Ave N

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405 10th Ave N, Unit 203

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Eagle Pointe Apartments

Clark Place Apartments & Townhomes
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.

Holiday Acres Apartments

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Oakdale Apartments

136 11th Ave N

Allen Avenue

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Charlton Terrace

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Charlton Estates

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Charlton Park

Rooftop 252

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The Drover
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.

Country Club Manor Apartments

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Chateau Apartments

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The Westlyn Apartments

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Savor Apartments

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The Yards

614 1st Ave S

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The Mendota

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430 Mendota

612 Stewart Ave., South St. Paul
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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.

Anderson-Elrose Apartments

Covington Court

132 W Warburton St

Cedarwood West Apartments

Grand Hill Condominiums

Greystone Apartments

205 Wentworth

Allen Avenue

The Winslow 62+ Apartments
Renters Insurance 101: What It Is, What It Covers, and Why You Need It
From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.

Bellows Court
Schmidt Lake, Inver Grove Heights, MN Local Guide

How much does it cost to rent an apartment in Schmidt Lake?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Schmidt Lake Studio Apartments | $1,395 | $1,005 | $2,685 |
| Schmidt Lake 1 Bedroom Apartments | $1,582 | $950 | $9,098 |
| Schmidt Lake 2 Bedroom Apartments | $1,958 | $1,175 | $8,152 |
| Schmidt Lake 3 Bedroom Apartments | $2,847 | $1,745 | $4,495 |
Browse Apartments in this Neighborhood
There are currently 46 rentals with your search options within a 2 mile radius of the Schmidt Lake Neighborhood of Inver Grove Heights, MN.
See all Apartments in Inver Grove HeightsExplore Inver Grove Heights
Schmidt Lake, Inver Grove Heights, MN Local Guide
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Cheapest Available Schmidt Lake Apartments for Rent
 The cheapest available apartment rental in the Schmidt Lake area of Minneapolis, MN is a 1 Bed unit found at Westview Park Community priced from $1,075. PEARLWOOD ESTATES has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,110. Here are the most affordable Schmidt Lake apartments for rent in Minneapolis, MN:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Westview Park Community | Westview Gardens - 1br | 1BR,1BA | $1,075 |
| PEARLWOOD ESTATES | 1 Bedroom 1 Bathroom Waitlist Application | 1BR,1BA | $1,110 |
| Grand Hill Condominiums | 1 Beds, 1 Baths | 1BR,1BA | $1,125 |
| Clark Place Apartments & Townhomes | CPA - 2 Bedroom D | 2BR,1BA | $1,175 |
| Holiday Acres Apartments | One Bedroom 672 | 1BR,1BA | $1,180 |
| Oakdale Apartments | The Maple | 1BR,1BA | $1,193 |
| Charlton Park | 1 Bedroom 1 Bath | 1BR,1BA | $1,203 |
| Salem Green | Goldfinch | 1BR,1BA | $1,250 |
| Rooftop 252 | Studio | Studio,1BA | $1,260 |
| Country Club Manor Apartments | 1 bedroom N | 1BR,1BA | $1,299 |
Best Value Apartments for Rent in Schmidt Lake, MN
As of July 15, 2026 the best value apartment in the Schmidt Lake area is the $1.24 price per square foot Large 2BR/2BA Model at Southview Greens in the in the Cahill Corridor neighborhood starting from $1,485. The second greatest value Schmidt Lake apartment is the Renovated 2 Bedroom 2 Bath Model at Bellows Court starting at $1,553 with a $1.36 price per square foot in the Moreland neighborhood. Here is today’s list of the best values for Schmidt Lake apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Southview Greens | Large 2BR/2BA | 2BR,2BA | $1.24 |
| Bellows Court | Renovated 2 Bedroom 2 Bath | 2BR,2BA | $1.36 |
| Chateau Apartments | Burgundy | 2BR,1BA | $1.51 |
| Avana Southview | A5GR | 1BR,1BA | $1.46 |
| Charlton Place | Renovated 2 Bedroom 1 Bath | 2BR,1BA | $1.54 |
| Charlton Park | 1 Bedroom 1 Bath | 1BR,1BA | $1.41 |
| Country Club Manor Apartments | 1 bedroom N | 1BR,1BA | $1.53 |
| Grand Hill Condominiums | 1 Beds, 1 Baths | 1BR,1BA | $1.50 |
| Clark Place Apartments & Townhomes | CPA - 2 Bedroom A | 2BR,1BA | $1.57 |
| PEARLWOOD ESTATES | 1 Bedroom 1 Bathroom Waitlist Application | 1BR,1BA | $1.57 |
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.
Lifestyle Ratings
ApartmentHomeLiving brings you our detailed rental search system called 'Lifestyle ratings', composed of rentals in metropolitan areas across the United States including Schmidt Lake, Inver Grove Heights, and the greater Minneapolis-St. Paul area. LifeStyle Ratings are the best way to sort through finding a place to live - beyond price and floorplan. This takes in many factors including filtering automatically for outdoor amenities like tennis courts, luxury housing options, transit availability, pet-friendly communities, apartment communities for the kids, and more. Find Lifestyle Search in the filter options (above). Happy Searching!
Frequently Asked Questions about Cheap Schmidt Lake Apartments
What is the Cheapest Studio apartment in Schmidt Lake?
Currently the most affordable Cheap Studio Apartment in Schmidt Lake is at Salem Green listed at $1,250.
How much is rent for a Cheap One Bedroom Schmidt Lake Apartment?
The lowest price for a Cheap One Bedroom Schmidt Lake Apartment is $1,075 at Westview Park Community.
What is the lowest price for a Cheap Two Bedroom Schmidt Lake Apartment for rent?
Today's best deal for a Cheap Two Bedroom Apartment in Schmidt Lake is starting from $1,175 at Clark Place Apartments & Townhomes.
What is the most affordable Schmidt Lake Three Bedroom Apartment?
The best deal on a cheap Schmidt Lake Three Bedroom Apartment rental is at PEARLWOOD ESTATES and starts from $1,745.
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.
Helpful Local Expert Guides

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I'm Stephanie, your ApartmentHomeLiving.com Local Expert for Minneapolis, MN. I've lived in Minnesota all my life, save for a brief stint in Wisconsin.

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Renters Insurance 101: What It Is, What It Covers, and Why You Need It
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Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.

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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.