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| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Cheap Lakeville Studio Apartments | $1,482 | $999 | $1,779 |
| Cheap Lakeville 1 Bedroom Apartments | $1,597 | $1,185 | $2,215 |
| Cheap Lakeville 2 Bedroom Apartments | $1,967 | $1,400 | $3,351 |
| Cheap Lakeville 3 Bedroom Apartments | $2,419 | $1,755 | $3,150 |
| Cheap Lakeville 4 Bedroom Apartments | $2,787 | $2,787 | $2,787 |
Current apartment rentals in the Lakeville, MN area range in price from $831 to $10,616 with an overall median price of $2,516. The three Lakeville neighborhoods with the lowest median rent pricing are Prairie Lake at $1,383, Timbercrest At Lakeville at $1,350, and Oak Shores at $999. Here is today’s list of the top 9 neighborhoods with the lowest median pricing for Lakeville Apartments for rent:
| Neighborhood | Median Price | Min Price | Available Units |
|---|---|---|---|
| Prairie Lake | $2,221 | $1,383 | 24 |
| Timbercrest At Lakeville | $2,221 | $1,350 | 25 |
| Oak Shores | $2,239 | $999 | 124 |
| Wood Hill | $2,395 | $831 | 105 |
| Donnelly Farm | $2,420 | $1,350 | 57 |
| Crossroads | $2,787 | $1,185 | 75 |
| Dakota Far Southwest Suburbs | $2,787 | $900 | 554 |
| Foxborough | $2,787 | $1,185 | 88 |
| Homestead Creek | $2,787 | $1,155 | 109 |
The cheapest available apartment rental in Lakeville, MN is a Studio unit found at Southwind Village in the Oak Shores neighborhood priced from $1,155. MAJESTIC COVE in the Cobblestone Legacy neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,185. Here is today’s list of the most affordable Lakeville apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Southwind Village | S1 | Studio,1BA | $1,155 |
| MAJESTIC COVE | 1 Bedroom 1 Bath Waitlist Application | 1BR,1BA | $1,185 |
| The Felix | The Selene A | 1BR,1BA | $1,210 |
| The Woods of Burnsville Apartments | Sycamore | 1BR,1BA | $1,222 |
| The Apex | Minnehaha | 1BR,1BA | $1,325 |
| KINGSTON GREEN | Open concept living with walk-out patio/balcony... | 1BR,1BA | $1,350 |
| Rosewood Manor | 2 Bedroom | 2BR,1BA | $1,400 |
| Applewoods Apartments | 1 Bedroom 1 Bath | 1BR,1BA | $1,400 |
| Coventry Court Townhomes | 1 BD, 1 BA | 1BR,1BA | $1,435 |
| Authentix Lakeville | Studio Horizon Overlook | Studio,1BA | $1,449 |
As of April 09, 2026 the best value apartment in the Lakeville area is the $1.46 price per square foot Three Bedroom - A Model at The Legends of Apple Valley 55+ Apartments in the in the Cobblestone Legacy neighborhood starting from $1,955. The second greatest value Lakeville apartment is the B4 Model at Provence starting at $1,960 with a $1.67 price per square foot in the Heart of the City neighborhood. Here is today’s list of the best values for Lakeville apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| The Legends of Apple Valley 55+ Apartments | Three Bedroom - A | 3BR,2BA | $1.46 |
| Provence | B4 | 2BR,2BA | $1.67 |
| Lakeville Woods | Willow C | 1BR,1BA | $1.61 |
| Hearthstone Apartments and Townhomes | E | 2BR,2BA | $1.71 |
| The Oaks of Lakeville | 2 BD / 1.5 BA | 2BR,1.5BA | $1.49 |
| Timber Ridge Townhomes | Two Bedroom | 2BR,1BA | $1.63 |
| KINGSTON GREEN | Open concept living with walk-out patio/balcony... | 1BR,1BA | $1.55 |
| Rosewood Manor | 2 Bedroom | 2BR,1BA | $1.75 |
| The Woods of Burnsville Apartments | Sycamore | 1BR,1BA | $1.58 |
| MAJESTIC COVE | 1 Bedroom 1 Bath Waitlist Application | 1BR,1BA | $1.64 |
Avoid financial stress when renting. Learn about the 10 most common hidden costs—from pet fees to utilities—you must budget for before you sign a lease.
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See the most popular apartments and homes in Lakeville, MN
A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Lakeville is under $1,449.
The cheapest apartment in Lakeville is MAJESTIC COVE which is listed at $1,185, while the average apartment in Lakeville costs $2,516.
Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 71 regular apartments in Lakeville that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.
Cheap apartments in Lakeville have an average cost of $128 which is $2,388 cheaper than the average rent for all rentals in Lakeville.
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.
Written by: Christine Leonard, Esq.
Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.
Written by: Lauren Harrington
Renting your next home can feel thrilling and overwhelming at the same time.
Written by: Bob Mallory
Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.
Written by: Christine Leonard, Esq.
Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.
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