
Cheap Apartments for Rent in Lexington, MN from $800 (44 Rentals)
Search the lowest-cost Apartments available for rent right now in Lexington.


Lexington Lofts Apartment Community

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Landings of Lexington

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Village Plaza

James Manor Apartments

Centennial Plaza Apartments

Silver Oaks Court

Woodlawn Terrace
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.

Greenfield Estates

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Oak Hills Manor

Woodland North Apartments

Total Monthly Price
H2 Flats

Landmark Estates

MV Apartments

The Ephesians at Lexington

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Cottages of Spring Lake Park
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.

Royal Oaks Apartments

Gray Stone Flats

Viridian Central

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The Legends of Blaine 55+

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The Legends of Spring Lake Park 55+ Living

Twin Homes

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Lexi Apartments

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Arris Blaine
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.

Cottages of Willow Ponds 55+ Senior Community

Total Monthly Price
Longhaus

9460-9462 Griggs Ave

The Edison at Rice Creek

North Bay at the Lakes

Total Monthly Price
Rice Creek Townhouses

4500 Tyler St NE, Unit 2Bed

The Parkshore Apartments of Arden Hills
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.

Villas of Mounds View - Age 55+

Cloverleaf Park

Ridgewood Apartments

169 Skyline Dr

9992 Fillmore St NE

137 Skyline Dr

345 Bankers Dr

4949 Jackson St NE
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.

431 Egret Blvd NW

9774 Magnolia St NW

11163 4th St NE

11422 4th St NE
Lexington, MN Local Guide

How much does it cost to rent an apartment in Lexington?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Lexington Studio Apartments | $1,282 | $890 | $1,483 |
| Lexington 1 Bedroom Apartments | $1,535 | $1,000 | $2,005 |
| Lexington 2 Bedroom Apartments | $1,752 | $1,100 | $3,005 |
| Lexington 3 Bedroom Apartments | $2,002 | $1,659 | $2,629 |
| 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 and Nearby
 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 $800. Greenfield Estates in the New Brighton neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,200. 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 | $800 |
| Greenfield Estates | One bedroom One Bath | 1BR,1BA | $1,200 |
| Woodlawn Terrace | One Bed One Bath | 1BR,1BA | $1,200 |
| Oak Hills Manor | 1 Bedroom | 1BR,1BA | $1,220 |
| H2 Flats | Spacious Renovated 1 Bedroom Apartment | 1BR,1BA | $1,249 |
| MV Apartments | 2 Bedroom | 2BR,1BA | $1,287 |
| The Ephesians at Lexington | Studio - Free Underground - 1st month Free | Studio,1BA | $1,290 |
| Village Plaza | Jr 1 bed 9/1 | 1BR,1BA | $1,295 |
| Cottages of Spring Lake Park | 1 Bedroom | 1BR,1BA | $1,296 |
| Woodland North Apartments | 2 BEDROOM A | 2BR,1BA | $1,309 |
Best Value Apartments for Rent in Lexington, MN and Nearby
As of September 09, 2026 the best value apartment in the Lexington area is the $1.53 price per square foot 3BD Townhome - Updated Flooring Model at Rice Creek Townhouses in the in the Fridley neighborhood starting from $1,835. The second greatest value Lexington apartment is the 2 Bed/ 2 Bath Model at Cloverleaf Park starting at $1,699 with a $1.61 price per square foot in the Oak Park 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. |
|---|---|---|---|
| Rice Creek Townhouses | 3BD Townhome - Updated Flooring | 3BR,1.5BA | $1.53 |
| Cloverleaf Park | 2 Bed/ 2 Bath | 2BR,2BA | $1.61 |
| Landings of Lexington | Two Bedroom A | 2BR,2BA | $1.64 |
| Ridgewood Apartments | 2 Bedroom Apartment | 2BR,1BA | $1.60 |
| Woodland North Apartments | 2 BEDROOM A | 2BR,1BA | $1.32 |
| MV Apartments | 1 Bedroom | 1BR,1BA | $1.66 |
| Oak Hills Manor | 1 Bedroom | 1BR,1BA | $1.66 |
| H2 Flats | Spacious Renovated 1 Bedroom Apartment | 1BR,1BA | $1.72 |
| Woodlawn Terrace | One Bed One Bath | 1BR,1BA | $1.66 |
| Greenfield Estates | One bedroom One Bath | 1BR,1BA | $1.71 |
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 ArticleNavigating 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.
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 $800.
How much is rent for a Cheap One Bedroom Lexington Apartment?
The lowest price for a Cheap One Bedroom Lexington Apartment is $1,200 at Greenfield Estates.
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 $1,250 at 89 Lexington Lakes.
What is the most affordable Lexington Three Bedroom Apartment?
The best deal on a cheap Lexington Three Bedroom Apartment rental is at The Legends of Spring Lake Park 55+ Living and starts from $1,654.
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

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.

Exploring Rental Options: Apartments, Townhomes, and Lofts - Oh My!
Written by: Robin Stewart
Where do you see yourself? When you think of home, sweet home, are you in a 3/2 apartment? Dreaming of a tall townhome? Maybe an industrial loft heavy on cool vibes is on your visioning board.

Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags
Written by: Robin Stewart
Renters want to find a great apartment, the right place for them, one that checks all the boxes of location, rental cost, amenities, safety, and more.

First Apartment Regrets: Real Renters Share What They'd Do Differently
Written by: Robin Stewart
Hindsight is 20/20. Live and Learn. With age comes wisdom. We’re familiar with all those expressions, and all of them apply to lessons first-time renters learn.