Cheap Apartments for Rent in Lake Elmo, MN from $800 (24 Rentals)

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Search the lowest-cost Apartments available for rent right now in Lake Elmo.

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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Ridgecrest Apartments
1 to 2 Bedroom Apartments

Ridgecrest Apartments

969 Greenway Ave NOakdale, MN 55128
  • Utilities Included

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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Lake Elmo, MN Local Guide

Cheapest Available Lake Elmo Apartments for Rent and Nearby

 

The cheapest available apartment rental in Lake Elmo, MN is a 1 Bed unit found at Minnehaha Manor in the Midvale neighborhood priced from $1,225. Eastgate Apartments in the Ledgestone neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,325. Here is today’s list of the most affordable Lake Elmo apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Minnehaha ManorBirch1BR,1BA$1,225
Eastgate Apartments1 Bedroom Renovated1BR,1BA$1,325
Briar Pond Apartments2 Bedrooms Townhome Floor Plan H2BR,2BA$1,338
The Espen ResidencesCypressStudio,1BA$1,347
Norhart OakdaleHavenStudio,1BA$1,358

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

As of July 24, 2025 the best value apartment in the Lake Elmo area is the $1.49 price per square foot The Luxe Model at Meridian at CityPlace in the in the Turnberry Heritage Townhomes neighborhood starting from $3,985. The second greatest value Lake Elmo apartment is the Ivywood Model at Woodhelm Townhomes starting at $3,695 with a $1.65 price per square foot in the Washington Far Eastern Suburbs neighborhood. Here is today’s list of the best values for Lake Elmo apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Meridian at CityPlaceThe Luxe4BR,3.5BA$1.49
Woodhelm TownhomesIvywood2BR,2.5BA$1.65
Bentley VillageRaleigh3BR,3BA$1.68
Woodbury Park at City CentreStillwater with Garage2BR,2BA$1.59
Seasons VillasDiamond Hudson2BR,1.5BA$1.66
Cedrics Landing2 Bedroom 2 Bathroom2BR,2BA$1.62
The Legends of Woodbury 55+ ApartmentsTwo Bedroom - A2BR,1.5BA$1.79
Oakdale Commons - 55+Laurel Oak2BR,1BA$1.72
City Walk at WoodburyPlaza1BR,1BA$1.78
Briar Pond Apartments1 Bedroom Floor Plan A-738sqft and AH-730sqft  ...1BR,1BA$1.40

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

Explore Lake Elmo, MN Rentals by Map

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Getting Around Lake Elmo, MN

Walk Score®

22 / 100

Car-Dependent

Almost all errands require a car

Bike Score®

35 / 100

Somewhat Bikeable

Minimal bike infrastructure

Transit Score®

1 / 100

Minimal Transit

It may be possible to get on a bus

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 Elmo Apartments

What is the Cheapest Studio apartment in Lake Elmo?

Currently the most affordable Cheap Studio Apartment in Lake Elmo is at The Espen Residences listed at $1,347.

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

The lowest price for a Cheap One Bedroom Lake Elmo Apartment is $1,034 at Briar Pond Apartments.

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

Today's best deal for a Cheap Two Bedroom Apartment in Lake Elmo is starting from $1,338 at Briar Pond Apartments.

What is the most affordable Lake Elmo Three Bedroom Apartment?

The best deal on a cheap Lake Elmo Three Bedroom Apartment rental is at Briarcliff Apartments, a 55+ Community and starts from $1,695.

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.