Cheap Apartments for Rent in Lakefield, MN from $300 (57 Rentals)

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

Rent According to Income: A Look at Income-Restricted Rentals

Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.

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property at 404 W 1st St

$850

Total Monthly Price

Total Monthly Price

Base Rent
$850
Total Monthly Price
$850

1 Bedroom, 1 Bath Home for Rent

Available Now

404 W 1st St

Lake ParkIA51347

Renters Insurance 101: What It Is, What It Covers, and Why You Need It

From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.

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property at 1011 Pleasant St

$950

Total Monthly Price

Total Monthly Price

Base Rent
$950
Total Monthly Price
$950

3 Bedroom, 1 Bath Home for Rent

Available Aug 15

1011 Pleasant St

BoydenIA51234

How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Finding the right apartment starts with three things: location, cost, and amenities. Get the insider perspective from a real estate professional on how to nail all three.

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Sunrise Manor
2 to 3 Bedroom Apartments

Sunrise Manor

500 Remmele St SWSleepy Eye, MN 56085
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Lyon County Apartments
Studio to 1 Bedroom Apartments

Lyon County Apartments

200 S 4th StMarshall, MN 56258
Senior Living
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Stately Manor Apartments
1 to 2 Bedroom Apartments

Stately Manor Apartments

1525-1535 Darling DrWorthington, MN 56187
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Dodecagon Plaza
1 to 2 Bedroom Apartments

Dodecagon Plaza

1212 S Grand AveSpencer, IA 51301
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Westside Apartments
1 to 2 Bedroom Apartments

Westside Apartments

1851 26th StSlayton, MN 56172
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Damax Apartments
1 to 2 Bedroom Apartments

Damax Apartments

602 E Warren StLuverne, MN 56156
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Tanglewood Estates
1 to 2 Bedroom Apartments

Tanglewood Estates

1755-1757 4th AveWindom, MN 56101
  • Utilities Included

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.

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Woodland Park - Ivanhoe
1 to 2 Bedroom Apartments

Woodland Park - Ivanhoe

106 N County Road 5Ivanhoe, MN 56142
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Buffalo Ridge Apartments
1 to 2 Bedroom Apartments

Buffalo Ridge Apartments

2107 Nobles StWorthington, MN 56187
Senior Living
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City Centre Apartments
Studio to 3 Bedroom Apartments

City Centre Apartments

109 E Luverne StLuverne, MN 56156
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Oakwood Apartments
1 Bedroom Apartments

Oakwood Apartments

401 S Oak StEllsworth, MN 56129
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Westmar Apartments
1 to 2 Bedroom Apartments

Westmar Apartments

1002-1003 Pearl AveMarshall, MN 56258
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Briarwood Estates
1 to 3 Bedroom Apartments

Briarwood Estates

1001 Pearl AveMarshall, MN 56258

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.

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Lakefield, MN Local Guide

Cheapest Available Lakefield Apartments for Rent and Nearby

 

The cheapest available apartment rental in Lakefield, MN is a 1 Bed unit found at Burt 18-Unit (Countryside Properties) priced from $425. 512 Vernon Ave has the second lowest priced unit, which is a 1 Bed apartment currently listed from $595. Here is today’s list of the most affordable Lakefield apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Burt 18-Unit (Countryside Properties)1 Bedroom1BR,1BA$425
512 Vernon AveOne Bedroom1BR,1BA$595
501 W 1st St S2 BED/1 BATH2BR,1BA$600
Eytcheson Estates Sherburn2 Bedroom2BR,1BA$701
Eytcheson Estates Welcome1 Bedroom2BR,1BA$701
Sunshine Apartments1 Bedroom and 1 bathroom1BR,1BA$725
1212 Heckman CtStudioStudio,1BA$750
Suite Liv'n - MarshallOne Bedroom1BR,1BA$775
Downtown Estates1 Bed, 1 bath1BR,1BA$795
Okabena Tower 62+1 BR/1 BA1BR,1BA$827

Best Value Apartments for Rent in Lakefield, MN and Nearby

As of July 26, 2026 the best value apartment in the Lakefield area is the $0.89 price per square foot 2 Bedroom - Lower Level ADA Model at Windom Landing in the starting from $975. The second greatest value Lakefield apartment is the Studio Model at 1212 Heckman Ct starting at $750 with a $0.83 price per square foot . Here is today’s list of the best values for Lakefield apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Windom Landing2 Bedroom - Lower Level ADA2BR,2BA$0.89
1212 Heckman CtStudioStudio ,1BA$0.83
Trimont Square Apartments1 Bed, 1 bath1BR,1BA$1.04
Nobles Square Apartments2 Bedroom2BR,1BA$1.11
512 Vernon AveTwo Bedroom2BR,1BA$0.87
Downtown Estates1 Bed, 1 bath1BR,1BA$0.99
Eytcheson Estates Sherburn2 Bedroom2BR,1BA$0.93
Eytcheson Estates Welcome1 Bedroom2BR,1BA$0.93
Hartshorn Manor1 Bed, 1 bath1BR,1BA$1.12
501 W 1st St S1 BED/1 BATH1BR,1BA$0.84

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.

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Real Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University

From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.

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

Explore Lakefield, MN Rentals by Map

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See the most popular apartments and homes in Lakefield, MN

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Frequently Asked Questions about Cheap Lakefield Apartments

What is the Cheapest Studio apartment in Lakefield?

Currently the most affordable Cheap Studio Apartment in Lakefield is at 1212 Heckman Ct listed at $750.

How much is rent for a Cheap One Bedroom Lakefield Apartment?

The lowest price for a Cheap One Bedroom Lakefield Apartment is $425 at Burt 18-Unit (Countryside Properties).

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

Today's best deal for a Cheap Two Bedroom Apartment in Lakefield is starting from $600 at 501 W 1st St S.

What is the most affordable Lakefield Three Bedroom Apartment?

The best deal on a cheap Lakefield Three Bedroom Apartment rental is at Suite Liv'n - Marshall and starts from $1,150.

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

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Rent According to Income: A Look at Income-Restricted Rentals

Written by: Robin Stewart

The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.

decorative image for Renters Insurance 101: What It Is, What It Covers, and Why You Need It article

Renters Insurance 101: What It Is, What It Covers, and Why You Need It

Written by: Robin Stewart

Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.

decorative image for Apartment Occupancy Rates: Renter Attraction vs Renter Retention article

Apartment Occupancy Rates: Renter Attraction vs Renter Retention

Written by: Robin Stewart

There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.

decorative image for How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide article

How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Written by: Robin Stewart

Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.