Cheap Apartments for Rent in Lake City, MN from $600 (23 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

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Showing Results 1-23, Page 1 of 1

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 2 Beds unit found at Great River priced from $603. River's Edge has the second lowest priced unit, which is a 1 Bed apartment currently listed from $750. Here is today’s list of the most affordable Lake City apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Great River2 Bed, 1 Bath2BR,1BA$603
River's EdgeOne Bedroom1BR,1BA$750
Colonial Apartments2BR/1.5BA2BR,1BA$925
Winchester Apartments & TownhomesOHara1BR,1BA$985
Forte Living of Rochester: 55+ Community!Blue JayStudio,1BA$1,001

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

As of September 01, 2025 the best value apartment in the Lake City area is the $1.17 price per square foot 3 Bedroom Model at Georgetowne Homes in the in the Northwest Rochester neighborhood starting from $1,595. The second greatest value Lake City apartment is the 3 Bedroom Model at Harvestview Place II starting at $1,495 with a $1.22 price per square foot in the Northwest 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$1.17
Harvestview Place II3 Bedroom3BR,2BA$1.22
French Creek TownhomesWillow Townhome2BR,1.5BA$1.47
301 Main Street South2 Bedrooms, 2 Bathrooms2BR,2BA$1.60
Colonial Apartments2BR/2.0BA2BR,2BA$0.99
Dakota TownhomesTwo Bedroom2BR,1BA$1.32
Olympik Village ApartmentsAres2BR,1BA$1.17
Winchester Apartments & TownhomesOHara1BR,1BA$1.41
River's EdgeOne Bedroom1BR,1BA$1.11
Great River1 Bed, 1 Bath1BR,1BA$1.51

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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

What Are Walk Score®, Transit Score®, and Bike Score® Ratings?

  • Walk Score® measures the walkability of any address.
  • Transit Score® measures access to public transit.
  • Bike Score® measures the bikeability of any address.

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 $603 at Great River.

What is the most affordable Lake City Three Bedroom Apartment?

The best deal on a cheap Lake City Three Bedroom Apartment rental is at Essex Place and starts from $1,219.

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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Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Written by: Christine Leonard, Esq.

For many people, obstacles can arise during the rental application process for a variety of issues.

decorative image for The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro article

The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Written by: Christine Leonard, Esq.

Hard truth. Moving is never easy. I’ve done it all – from local moves to cross-country relocations From packing to unpacking the last box, I have found moving to be an exhausting, expensive and stressful experience every time.

decorative image for Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting article

Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Written by: Christine Leonard, Esq.

Throughout the day, think about all the times that you have to pay for something. So many of us reach automatically for a credit card or even our phone for a quick payment.

decorative image for Roommate Matching: Finding the Right Fit and Avoiding Pitfalls article

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.