
Cheap Apartments for Rent in Lexington, MN from $700 (44 Rentals)
Search the lowest-cost Apartments available for rent right now in Lexington.


Lexington Lofts Apartment Community

Landings of Lexington

Total Monthly Price
Village Plaza

James Manor Apartments

Centennial Plaza Apartments

Greenfield Estates

Woodlawn Terrace
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.

Silver Oaks Court Apartments

Woodland North Apartments

Total Monthly Price
Cottages of Spring Lake Park

Total Monthly Price
H2 Flats

Landmark Estates

The Ephesians at Lexington

Royal Oaks Apartments

Viridian Central
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.

Total Monthly Price
2105 Hillview Road, Unit 2

Oak Hills Manor - Ages 55+

Ridgewood Apartments

8956 Griggs Ave

Total Monthly Price
Arris Blaine

Total Monthly Price
The Legends of Blaine 55+

Total Monthly Price
Lexi Apartments

Total Monthly Price
The Legends of Spring Lake Park 55+ Living
Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting
Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.

Gray Stone Flats

Cottages of Willow Ponds 55+ Senior Community

The Edison at Rice Creek I and II

Longhaus

North Bay at the Lakes

Total Monthly Price
Rice Creek Townhouses

The Parkshore Apartments of Arden Hills

1891 Bluestem Ln
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.

Cloverleaf Park

Villas of Mounds View - Age 55+

MV Apartments

Twin Homes

Pine Manor Estates A 55+ Community

4540 Tyler St NE

2090 Hillview Rd

4140 Rice St
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.

197 Mayfair Rd

137 Skyline Dr

11514 Baltimore St NE

4241 2nd St NE
Lexington, MN Local Guide

How much does it cost to rent an apartment in Lexington?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Cheap Lexington Studio Apartments | $1,225 | $800 | $1,510 |
| Cheap Lexington 1 Bedroom Apartments | $1,532 | $1,000 | $2,251 |
| Cheap Lexington 2 Bedroom Apartments | $1,812 | $1,100 | $3,045 |
| Cheap Lexington 3 Bedroom Apartments | $2,047 | $1,720 | $3,230 |
| Cheap Lexington 4 Bedroom Apartments | $2,295 | $2,295 | $2,295 |
Browse Top Apartments in Lexington
See all Apartments in LexingtonExplore Lexington
Lexington, MN Local Guide
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Cheapest Available Lexington Apartments for Rent
 The cheapest available apartment rental in Lexington, MN is a Studio unit found at 89 Lexington Lakes in the Crescent Ponds Heritage neighborhood priced from $790. Centennial Plaza Apartments in the Crescent Ponds Heritage neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,145. Here is today’s list of the most affordable Lexington apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| 89 Lexington Lakes | Studio | Studio,1BA | $790 |
| Centennial Plaza Apartments | 1 Bed, 1 bath | 1BR,1BA | $1,145 |
| Greenfield Estates | One bedroom One Bath | 1BR,1BA | $1,150 |
| Woodlawn Terrace | One Bed One Bath | 1BR,1BA | $1,200 |
| Cottages of Spring Lake Park | 1 Bedroom | 1BR,1BA | $1,246 |
| The Ephesians at Lexington | Bergen | Studio,1BA | $1,280 |
| Viridian Central | Studio C | Studio,1BA | $1,295 |
| Cloverleaf Park | 1 Bed/1 Bath | 1BR,1BA | $1,299 |
| Woodland North Apartments | 2 BEDROOM A | 2BR,1BA | $1,300 |
| Oak Hills Manor - Ages 55+ | Oak Hills Manor, 2 bed, 1 bath. | 2BR,1BA | $1,300 |
Best Value Apartments for Rent in Lexington, MN
As of June 10, 2026 the best value apartment in the Lexington area is the $1.57 price per square foot 3 Bedroom Model at The Parkshore Apartments of Arden Hills in the in the Downtown New Brighton neighborhood starting from $2,300. The second greatest value Lexington apartment is the 3BD Townhome - Updated Kitchen & Floors Model at Rice Creek Townhouses starting at $1,925 with a $1.60 price per square foot in the Highview neighborhood. Here is today’s list of the best values for Lexington apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| The Parkshore Apartments of Arden Hills | 3 Bedroom | 3BR,2BA | $1.57 |
| Rice Creek Townhouses | 3BD Townhome - Updated Kitchen & Floors | 3BR,1.5BA | $1.60 |
| Pine Manor Estates A 55+ Community | Elm | 2BR,2BA | $1.63 |
| Ridgewood Apartments | 2 Bedroom Apartment | 2BR,1BA | $1.50 |
| Woodland North Apartments | 2 BEDROOM B | 2BR,1BA | $1.37 |
| Royal Oaks Apartments | 2 Bed Gold | 2BR,1BA | $1.65 |
| Oak Hills Manor - Ages 55+ | Oak Hills Manor, 2 bed, 1 bath. | 2BR,1BA | $1.51 |
| Cloverleaf Park | 1 Bed/1 Bath | 1BR,1BA | $1.69 |
| Woodlawn Terrace | One Bed One Bath | 1BR,1BA | $1.66 |
| Greenfield Estates | One bedroom One Bath | 1BR,1BA | $1.64 |
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.
Read ArticleReal 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.
Read ArticleQuick 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.
Remember the 3 Rules of Real Estate:Location, Location, Location!
Explore Lexington, MN Rentals by Map
See the most popular apartments and homes in Lexington, MN
Frequently Asked Questions about Cheap Lexington Apartments
What is the Cheapest Studio apartment in Lexington?
Currently the most affordable Cheap Studio Apartment in Lexington is at 89 Lexington Lakes listed at $790.
How much is rent for a Cheap One Bedroom Lexington Apartment?
The lowest price for a Cheap One Bedroom Lexington Apartment is $1,000 at 89 Lexington Lakes.
What is the lowest price for a Cheap Two Bedroom Lexington Apartment for rent?
Today's best deal for a Cheap Two Bedroom Apartment in Lexington is starting from $1,245 at Centennial Plaza Apartments.
What is the most affordable Lexington Three Bedroom Apartment?
The best deal on a cheap Lexington Three Bedroom Apartment rental is at Rice Creek Townhouses and starts from $1,925.
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

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.

Pet-Friendly Renting: Everything You Need to Know Before You Move
Written by: Christine Leonard, Esq.
For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.

Creative Ways Developers Reimagine Retail Spaces as Residential Units
Written by: Robin Stewart
Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.

Neighborhood and Market Insights: How to Choose the Right Area to Rent
Written by: Robin Stewart
Apartment-hunting can be a gargantuan task. Renters have a wish list of items—some luxuries, some necessities—but finding what you seek in the right place is perhaps the most important part of the journey.