Search the lowest-cost Apartments available for rent right now in the Prairie Lake area of Lakeville.
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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| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Prairie Lake Studio Apartments | $1,550 | $1,463 | $1,593 |
| Prairie Lake 1 Bedroom Apartments | $1,624 | $1,491 | $1,834 |
| Prairie Lake 2 Bedroom Apartments | $2,318 | $1,599 | $2,800 |
| Prairie Lake 3 Bedroom Apartments | $2,975 | $2,061 | $3,550 |
| Prairie Lake 4 Bedroom Apartments | $3,980 | $3,950 | $4,100 |
There are currently 9 rentals with your search options within a 2 mile radius of the Prairie Lake Neighborhood of Lakeville, MN.
See all Apartments in LakevilleIf you’re an expert on all things Prairie Lake, tell us what you love (and don't) by rating it and writing a review.
Write a ReviewThe cheapest available apartment rental in the Prairie Lake area of Lakeville, MN is a Studio unit found at Northlake Lofts priced from $1,363. SouthFork Townhomes + Flats has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,501. Here are the most affordable Prairie Lake apartments for rent in Lakeville, MN:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Northlake Lofts | Sugar | Studio,1BA | $1,363 |
| SouthFork Townhomes + Flats | A1R | 1BR,1BA | $1,501 |
| Arris Lakeville | Pine | 1BR,1BA | $1,518 |
As of April 22, 2026 the best value apartment in the Prairie Lake area is the $1.59 price per square foot D1 Glenwood Model at The Crossing at Ritter Meadows in the in the Wood Hill neighborhood starting from $3,125. The second greatest value Prairie Lake apartment is the Willow C Model at Lakeville Woods starting at $1,810 with a $1.61 price per square foot in the Donnelly Farm neighborhood. Here is today’s list of the best values for Prairie Lake apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| The Crossing at Ritter Meadows | D1 Glenwood | 3BR,2.5BA | $1.59 |
| Lakeville Woods | Willow C | 1BR,1BA | $1.61 |
| SouthFork Townhomes + Flats | B1R | 2BR,1BA | $1.98 |
| Marion Crossing | Two Bedroom Flat | 2BR,1BA | $1.78 |
| Spero Senior Living | Pepin | 1BR,1.5BA | $2.03 |
| Lakeside Flats | Emerald | 1BR,1BA | $2.29 |
| Arris Lakeville | Pine | 1BR,1BA | $2.64 |
| Northlake Lofts | Sugar | Studio ,1BA | $2.65 |
A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Prairie Lake is under $3,125.
The cheapest apartment in Prairie Lake is SouthFork Townhomes + Flats which is listed at $1,501, while the average apartment in Prairie Lake costs $3,950.
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 4 regular apartments in Prairie Lake that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.
Cheap apartments in Prairie Lake have an average cost of $118 which is $3,832 cheaper than the average rent for all rentals in Prairie Lake.
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