
Cheap Apartments for Rent in Loretto, MN from $500 (44 Rentals)
Search the lowest-cost Apartments available for rent right now in Loretto.


Solace on Lake Minnetonka

Riverwalk Apartments

Bayview Apartments

Shoreline Place

3455 Shoreline Dr

Lakecrest Village

Langdon Lake Apartments
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.

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Dockside Apartments & Boat Slips - Lake Minnetonka

Minnetonka Edgewater Apartments and Boat Slips

CURRENTS

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Stoneleigh at the Reserve

Highcroft Manor

Harbor District Apartments

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Plymouth Square

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Wayzata Woods
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.

Plymouth Colony

Shenandoah Woods

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Oakwood

Wayzata Lake Apartments

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The Edison at Maple Grove

Granite Works Apartments

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Gleason Lake

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Avana Maple Grove
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.

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Vicksburg Village

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Park Place Apartments

Birchwood Apartments

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Terra Residences

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Risor of Maple Grove 55+

Silvan Townhomes

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Rush Creek Apartments

8330 Cedar St
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.

Bryant Wood Apartments

9080 County Road 50

Garland Commons - 55+

763 Rockford Ave E

15800 26th Ave N

2759 Upland Ln N

The Stax of Long Lake

11321 16th St NE
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.

Fernbrook Townhomes

5040 Holly Ln N

17770 66th Ave N

5115 Holly Ln N
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 | $1,384 | $1,100 | $1,762 |
| Loretto 1 Bedroom Apartments | $1,697 | $1,050 | $4,408 |
| Loretto 2 Bedroom Apartments | $2,789 | $1,200 | $9,683 |
| Loretto 3 Bedroom Apartments | $3,386 | $1,350 | $10,000+ |
| Loretto 4 Bedroom Apartments | $3,640 | $2,999 | $3,955 |
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 Riverwalk Apartments in the Highland Ridge neighborhood priced from $1,100. Lakecrest Village in the Outlying Hennepin Far Western Suburbs neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,199. Here is today’s list of the most affordable Loretto apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| 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 | $1,205 |
| 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 | $1,313 |
| 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 |
| Plymouth Square | Monterey | 1BR,1BA | $1,398 |
Best Value Apartments for Rent in Loretto, MN and Nearby
As of June 20, 2026 the best value apartment in the Loretto area is the $1.75 price per square foot Henrik Model at Norheim Townhomes in the in the Main Street Maple Grove neighborhood starting from $3,355. The second greatest value Loretto apartment is the A1R Model at Park Place Apartments starting at $1,675 with a $1.75 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 | Henrik | 3BR,2.5BA | $1.75 |
| Park Place Apartments | A1R | 1BR,1BA | $1.75 |
| Wayzata Lake Apartments | 2BR/1.0BA | 2BR,1BA | $1.63 |
| 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 |
| 3455 Shoreline Dr | 2 Bed/1 Bath | 2BR,1BA | $1.69 |
| Wayzata Woods | 1 Bedroom & 1 Bath | 1BR,1BA | $1.77 |
| Lakecrest Village | 1 Bedroom 1 Bathroom | 1BR,1BA | $1.64 |
| Dockside Apartments & Boat Slips - Lake Minnetonka | The Marina | 1BR,1BA | $1.72 |
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
How much is rent for a Cheap One Bedroom Loretto Apartment?
The lowest price for a Cheap One Bedroom Loretto Apartment is $1,100 at Riverwalk Apartments.
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 Silvan Townhomes and starts from $2,150.
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

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.

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.