
Cheap Apartments for Rent in Loretto, MN from $500 (40 Rentals)
Search the lowest-cost Apartments available for rent right now in Loretto.


Solace on Lake Minnetonka

Riverwalk Apartments

Bayview Apartments

Shoreline Place

Wayzata Lake Apartments

Minnetonka Edgewater Apartments and Boat Slips

Lakecrest Village
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.

Langdon Lake Apartments

Total Monthly Price
Dockside Apartments & Boat Slips - Lake Minnetonka

CURRENTS

Shenandoah Woods

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Stoneleigh at the Reserve

Highcroft Manor

Harbor District Apartments

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Wayzata Woods
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.

Plymouth Colony

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Plymouth Square

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Avana Maple Grove

Birchwood Apartments

Vicksburg Village

Total Monthly Price
Gleason Lake

Granite Works Apartments

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Oakwood
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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Rush Creek Apartments

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Terra Residences

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The Edison at Maple Grove

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Park Place Apartments

Silvan Townhomes

Total Monthly Price
The Stax of Long Lake

Bryant Wood Apartments

9080 County Road 50
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.

3455 Shoreline Dr

8551 Elm St

Garland Commons - 55+

116 Rockford Ave E

14169 68th Pl N

13465 60th Pl N

11373 16th St NE

9357 Ranchview Ln N
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.
Loretto, MN Local Guide

How much does it cost to rent an apartment in Loretto?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Loretto Studio Apartments | $1,263 | $1,100 | $1,458 |
| Loretto 1 Bedroom Apartments | $1,627 | $1,050 | $4,250 |
| Loretto 2 Bedroom Apartments | $2,787 | $1,200 | $8,000 |
| Loretto 3 Bedroom Apartments | $3,566 | $1,835 | $10,000+ |
| Loretto 4 Bedroom Apartments | $3,841 | $3,623 | $3,966 |
Browse Top Apartments in Loretto
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Loretto, MN Local Guide
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Cheapest Available Loretto Apartments for Rent and Nearby
 The cheapest available apartment rental in Loretto, MN is a 1 Bed unit found at Solace on Lake Minnetonka in the Outlying Hennepin Far Western Suburbs neighborhood priced from $1,050. Riverwalk Apartments in the Highland Ridge neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,100. Here is today’s list of the most affordable Loretto apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Solace on Lake Minnetonka | Harrison | 1BR,1BA | $1,050 |
| Riverwalk Apartments | 1 bedroom 1 bath | 1BR,1BA | $1,100 |
| Lakecrest Village | 1 Bedroom 1 Bathroom | 1BR,1BA | $1,199 |
| Langdon Lake Apartments | 2 BR/1 BA | 2BR,1BA | $1,200 |
| Dockside Apartments & Boat Slips - Lake Minnetonka | The Marina | 1BR,1BA | $1,220 |
| CURRENTS | A | Studio,1BA | $1,225 |
| Minnetonka Edgewater Apartments and Boat Slips | The Shoreline | 1BR,1BA | $1,295 |
| Stoneleigh at the Reserve | The Shale | Studio,1BA | $1,333 |
| 3455 Shoreline Dr | 2 Bed/1 Bath | 2BR,1BA | $1,350 |
| Harbor District Apartments | Large one bedroom with in unit W/D | 1BR,1BA | $1,395 |
Best Value Apartments for Rent in Loretto, MN and Nearby
As of August 15, 2026 the best value apartment in the Loretto area is the $1.73 price per square foot Freya Model at Norheim Townhomes in the in the Maple Grove neighborhood starting from $2,595. The second greatest value Loretto apartment is the B1R Model at Park Place Apartments starting at $1,880 with a $1.64 price per square foot in the Timber Creek Crossing Village neighborhood. Here is today’s list of the best values for Loretto apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Norheim Townhomes | Freya | 2BR,1.5BA | $1.73 |
| Park Place Apartments | B1R | 2BR,2BA | $1.64 |
| Wayzata Woods | B1 - Renovated | 2BR,1BA | $1.79 |
| Plymouth Colony | 2 Bed w/Laundry Remodelled | 2BR,1.5BA | $1.58 |
| Riverwalk Apartments | 2 bedroom remodel | 2BR,1BA | $1.44 |
| Langdon Lake Apartments | 1 BR/1 BA | 1BR,1BA | $1.36 |
| Shenandoah Woods | 2 Bedroom, Tax Credit | 2BR,1BA | $1.70 |
| 3455 Shoreline Dr | 2 Bed/1 Bath | 2BR,1BA | $1.69 |
| Lakecrest Village | 1 Bedroom 1 Bathroom | 1BR,1BA | $1.64 |
| Dockside Apartments & Boat Slips - Lake Minnetonka | The Marina | 1BR,1BA | $1.74 |
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.
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Remember the 3 Rules of Real Estate:Location, Location, Location!
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See the most popular apartments and homes in Loretto, MN
Frequently Asked Questions about Cheap Loretto Apartments
What is the Cheapest Studio apartment in Loretto?
Currently the most affordable Cheap Studio Apartment in Loretto is at CURRENTS listed at $1,225.
How much is rent for a Cheap One Bedroom Loretto Apartment?
The lowest price for a Cheap One Bedroom Loretto Apartment is $1,050 at Solace on Lake Minnetonka.
What is the lowest price for a Cheap Two Bedroom Loretto Apartment for rent?
Today's best deal for a Cheap Two Bedroom Apartment in Loretto is starting from $1,200 at Langdon Lake Apartments.
What is the most affordable Loretto Three Bedroom Apartment?
The best deal on a cheap Loretto Three Bedroom Apartment rental is at Wayzata Lake Apartments and starts from $1,835.
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.

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.

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.

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.