
Cheap Apartments for Rent in Lafayette, MN from $500 (42 Rentals)
Search the lowest-cost Apartments available for rent right now in Lafayette.


Highland Hills Apartments

Lewis Lofts

Fairview Apartments

Maplewood Apartments

Hartshorn Manor

Commerce Apartments

Glenwood Terrace
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.

Le Sueur Apartments

Tiller+Main

219 6th St SW

Cherry Square

Highland Apartments

Sleepy Eye Apartments Homes

Wolverine Meadows

Rita Road
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.

Woodside Apartments

River Bluff Apartments

Highfield Apartments

Village Court Apartments

Hoover Estates

Greenfield Estates I & II

Skyway Property Holdings, LLC - (Studio 5)

Sunrise Manor
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.

Southview Apartments

Fairview Apartments

Autumn Glen Apartments

Autumn Glen Townhomes

36 Jefferson Ave E

131 W 11th St

442 Belgrade Ave

803 W Main St
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.

522 6th St Apartments

Henderson Apartments

Hillcrest Apartments

Knollcrest

501 4th St

325 E Washington St

Le Sueur Meadows

Cherry Ridge Apartments
Navigating the Rental Market: Tips for First-Time Renters
Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

107 S 5th St

520 6th St
Lafayette, MN Local Guide

How much does it cost to rent an apartment in Lafayette?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Lafayette Studio Apartments | $1,022 | $735 | $1,295 |
| Lafayette 1 Bedroom Apartments | $1,323 | $784 | $2,150 |
| Lafayette 2 Bedroom Apartments | $1,534 | $955 | $2,396 |
| Lafayette 3 Bedroom Apartments | $1,853 | $1,095 | $2,830 |
| Lafayette 4 Bedroom Apartments | $1,854 | $1,780 | $1,980 |
Browse Top Apartments in Lafayette
See all Apartments in LafayetteExplore Lafayette
Lafayette, MN Local Guide
- Nearby Cities
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Cheapest Available Lafayette Apartments for Rent and Nearby
 The cheapest available apartment rental in Lafayette, MN is a 3 Beds unit found at Sunrise Manor priced from $200. Village Place Apartments in the University neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $735. Here is today’s list of the most affordable Lafayette apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Sunrise Manor | Two Bedroom - Income Based Rent | 3BR,1BA | $200 |
| Village Place Apartments | Studio | Studio,1BA | $735 |
| Lewis Lofts | 1a1t | 1BR,1BA | $784 |
| Hartshorn Manor | 1 Bed, 1 bath | 1BR,1BA | $840 |
| Glenwood Terrace | 1 BR/1 BA | 1BR,1BA | $880 |
| Le Sueur Apartments | 1 Bedroom | 1BR,1BA | $895 |
| 219 6th St SW | One Bedroom | 1BR,1BA | $900 |
| Cherry Square | 1 Bedroom | 1BR,1BA | $995 |
| River Bluff Apartments | One Bedroom | 1BR,1BA | $1,011 |
| Village Court Apartments | 2 Bed, 1 Bath (original) | 2BR,1BA | $1,028 |
Best Value Apartments for Rent in Lafayette, MN and Nearby
As of March 09, 2026 the best value apartment in the Lafayette area is the $1.19 price per square foot 3 bed 2.5 bath (Exterior) Model at Fox Run Townhomes in the in the City Center Mankato neighborhood starting from $2,095. The second greatest value Lafayette apartment is the Three Bedroom One Half Bathroom Model at Sibley Village Townhomes starting at $1,795 with a $1.16 price per square foot in the University neighborhood. Here is today’s list of the best values for Lafayette apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Fox Run Townhomes | 3 bed 2.5 bath (Exterior) | 3BR,2.5BA | $1.19 |
| Sibley Village Townhomes | Three Bedroom One Half Bathroom | 3BR,1.5BA | $1.16 |
| Dublin Road Townhomes | 3 Bedroom 1.5 Bath Affordable | 3BR,1.5BA | $1.17 |
| Legacy Park Estates | Three Bedroom 1.75 Bathroom | 3BR,1.75BA | $1.22 |
| Vista View Townhomes | 3 Bedroom Townhouse | 3BR,1.5BA | $1.08 |
| Sunrise Manor | Two Bedroom - Income Based Rent | 2BR,1BA | $0.19 |
| Welco West | 2 Bedroom | 2BR,1BA | $1.21 |
| 219 6th St SW | One Bedroom | 1BR,1BA | $1.20 |
| Hartshorn Manor | 1 Bed, 1 bath | 1BR,1BA | $1.12 |
| Lewis Lofts | 1a1t | 1BR,1BA | $1.27 |
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 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 Lafayette, MN Rentals by Map
See the most popular apartments and homes in Lafayette, MN
Frequently Asked Questions about Cheap Lafayette Apartments
What is the Cheapest Studio apartment in Lafayette?
Currently the most affordable Cheap Studio Apartment in Lafayette is at Village Place Apartments listed at $735.
How much is rent for a Cheap One Bedroom Lafayette Apartment?
The lowest price for a Cheap One Bedroom Lafayette Apartment is $784 at Lewis Lofts.
What is the lowest price for a Cheap Two Bedroom Lafayette Apartment for rent?
Today's best deal for a Cheap Two Bedroom Apartment in Lafayette is starting from $200 at Sunrise Manor.
What is the most affordable Lafayette Three Bedroom Apartment?
The best deal on a cheap Lafayette Three Bedroom Apartment rental is at Sunrise Manor and starts from $200.
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

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.

Renting with Roommates: Realistic Expectations for Shared Lease
Written by: Christine Leonard, Esq.
Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.