Cheap Homes for Rent in Lake Mills, IA from $500 (15 Rentals)

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Search the lowest-cost Homes available for rent right now in Lake Mills.

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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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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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.

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Lake Mills, IA Local Guide

Cheapest Available Lake Mills Apartments for Rent and Nearby

 

The cheapest available apartment rental in Lake Mills, IA is a Studio unit found at Shalom Tower II priced from $405. Key Apartments has the second lowest priced unit, which is a Studio apartment currently listed from $450. Here is today’s list of the most affordable Lake Mills apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Shalom Tower IITower I EfficiencyStudio,1BA$405
Key ApartmentsEfficiencyStudio,1BA$450
Burt 18-Unit (Countryside Properties)1 Bedroom1BR,1BA$450
City Center Kent ApartmentsStudio1BR,1BA$495
18 S Adams AveOne Bedroom1BR,1BA$525

Best Value Apartments for Rent in Lake Mills, IA and Nearby

As of May 24, 2025 the best value apartment in the Lake Mills area is the $1.36 price per square foot 2 Bedroom w/ Den Model at Skye Lofts Apartments in the starting from $1,900. The second greatest value Lake Mills apartment is the 3 Bedroom 1.5 Bathrooms Model at Pebble Creek Apartments starting at $1,060 with a $0.95 price per square foot . Here is today’s list of the best values for Lake Mills apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Skye Lofts Apartments2 Bedroom w/ Den2BR,1BA$1.36
Pebble Creek Apartments3 Bedroom 1.5 Bathrooms3BR,1.5BA$0.95
201 Pilgrim St2 Bedroom2BR,2BA$1.08
Irish Hospital ApartmentsUnit 12BR,1BA$1.35
Lincoln Apartments LLCApt. 172BR,1BA$1.36
City Center Kent Apartments1 Bedroom1BR,1BA$0.74
Shalom Tower IITower II - One Bedroom1BR,1BA$0.70
Webster ApartmentsApt. 102BR,1BA$1.36
The Meadows1 Bedroom 1 Bath1BR,1BA$1.27
18 S Adams AveOne Bedroom1BR,1BA$0.95

Quick 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.

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Frequently Asked Questions about Lake Mills

What type of rentals are currently available in Lake Mills?

There are currently 44 Apartments for Rent in Lake Mills, IA with pricing that ranges from $405 to $2,650. There are also 39 Single Family Homes for rent, Condos, and Townhome rentals currently available in Lake Mills ranging from $595 to $3,950.

What is the current price range for Rental Homes in Lake Mills?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Lake Mills ranges from $595 to $3,950 with an average monthly rent of $1,713.

How much are larger Three and Four Bedroom Rentals in Lake Mills?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Lake Mills range from $935 to $1,250, while Three Bedroom Homes, Condos, and Townhomes for rent range from $900 to $3,950. Four Bedroom Single-Family rentals are also available starting from $1,350 and Four Bedroom Apartments start at $937.

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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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.

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Navigating the Rental Market: Tips for First-Time Renters

Written by: Sandy Baker

Making the decision to rent is exciting and terrifying at the same time. For many people, there are a lot of unknowns.