Cheap Apartments for Rent in Lake City, MN from $600 (20 Rentals)

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Lake Pepin
1 to 2 Bedroom Apartments

Lake Pepin

221 N Franklin StLake City, MN 55041
Senior Living
  • Utilities Included
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Underwood Terrace
2 to 3 Bedroom Apartments

Underwood Terrace

515 N 10th StLake City, MN 55041
  • Utilities Included

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.

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.

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.

Lake City, MN Local Guide

Cheapest Available Lake City Apartments for Rent and Nearby

 

The cheapest available apartment rental in Lake City, MN is a 1 Bed unit found at River's Edge priced from $750. Great River has the second lowest priced unit, which is a 1 Bed apartment currently listed from $905. Here is today’s list of the most affordable Lake City apartments for rent:

Apartment ListingModel NameBed/BathPriced From
River's EdgeOne Bedroom1BR,1BA$750
Great River1 Bed, 1 Bath1BR,1BA$905
The Gates of RochesterCarlyle1BR,1BA$905
Crossing Meadows50/1/H1BR,1BA$999
Forte Living of Rochester: 55+ Community!Blue JayStudio,1BA$1,001

Best Value Apartments for Rent in Lake City, MN and Nearby

As of June 18, 2025 the best value apartment in the Lake City area is the $1.18 price per square foot 3 Bedroom Model at Georgetowne Homes in the in the North Rochester neighborhood starting from $1,600. The second greatest value Lake City apartment is the 3 Bedroom Model at Harvestview Place II starting at $1,595 with a $1.30 price per square foot in the North Rochester neighborhood. Here is today’s list of the best values for Lake City apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Georgetowne Homes3 Bedroom3BR,2BA$1.18
Harvestview Place II3 Bedroom3BR,2BA$1.30
French Creek TownhomesWillow Townhome2BR,1.5BA$1.56
Dakota TownhomesTwo Bedroom2BR,1BA$1.32
Olympik Village ApartmentsAres2BR,1BA$1.17
Essex PlaceOne Bedroom - Finch1BR,1BA$1.56
Crossing Meadows60/11BR,1BA$1.33
The Gates of RochesterCarlyle1BR,1BA$1.27
River's EdgeOne Bedroom1BR,1BA$1.11
Great River1 Bed, 1 Bath1BR,1BA$1.51

Quick Rent Budget Calculator

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

Explore Lake City, MN Rentals by Map

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Getting Around Lake City, MN

Walk Score®

38 / 100

Car-Dependent

Most errands require a car

Bike Score®

44 / 100

Somewhat Bikeable

Minimal bike infrastructure

Frequently Asked Questions about Cheap Lake City Apartments

What is the Cheapest Studio apartment in Lake City?

Currently the most affordable Cheap Studio Apartment in Lake City is at Forte Living of Rochester: 55+ Community! listed at $1,001.

How much is rent for a Cheap One Bedroom Lake City Apartment?

The lowest price for a Cheap One Bedroom Lake City Apartment is $750 at River's Edge.

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

Today's best deal for a Cheap Two Bedroom Apartment in Lake City is starting from $850 at River's Edge.

What is the most affordable Lake City Three Bedroom Apartment?

The best deal on a cheap Lake City Three Bedroom Apartment rental is at Dakota Townhomes and starts from $1,325.

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.