Cheap Apartments for Rent in Madison Lake, MN from $700 (23 Rentals)

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Search the lowest-cost Apartments available for rent right now in Madison Lake.

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.

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The Art of the Rental Viewing: What to look for during a property tour

Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

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Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

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201 Pilgrim St
2 Bedroom Apartments

201 Pilgrim St

201 Pilgrim StSaint Clair, MN 56080
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107 S 5th St
2 Bedroom Apartments

107 S 5th St

107 S 5th StMankato, MN 56001
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Madison Lake, MN Local Guide

Cheapest Available Madison Lake Apartments for Rent and Nearby

 

The cheapest available apartment rental in Madison Lake, MN is a Studio unit found at Highland Hills Apartments in the University neighborhood priced from $720. Tiller+Main has the second lowest priced unit, which is a Studio apartment currently listed from $900. Here is today’s list of the most affordable Madison Lake apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Highland Hills ApartmentsStudioStudio,1BA$720
Tiller+MainStudioStudio,1BA$900
Glenwood Terrace2 BR/ 1 BA2BR,1BA$950
Town's Edge Place Apartments1 Bedroom1BR,1BA$975
442 Belgrade AveTwo Bedroom2BR,1BA$995

Best Value Apartments for Rent in Madison Lake, MN and Nearby

As of July 30, 2025 the best value apartment in the Madison Lake area is the $1.19 price per square foot 3 bed 2.5 bath (Exterior) Model at Fox Run Townhomes in the in the City Center Mankato neighborhood starting from $2,095. The second greatest value Madison Lake apartment is the 2 Bedroom 1 Bath Model at Tartan Glen starting at $1,550 with a $1.22 price per square foot in the University neighborhood. Here is today’s list of the best values for Madison Lake apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Fox Run Townhomes3 bed 2.5 bath (Exterior)3BR,2.5BA$1.19
Tartan Glen2 Bedroom 1 Bath2BR,1BA$1.22
Southwood Flats2 Bed, 1 Bath (remodeled)2BR,1BA$1.26
The Edge ApartmentsTwo Bedroom2BR,1BA$1.27
442 Belgrade AveTwo Bedroom2BR,1BA$1.13
Gray Hawk ApartmentsLarge Two Bedroom2BR,1BA$1.21
Glenwood Terrace2 BR/ 1 BA2BR,1BA$1.14
Cherry Ridge ApartmentsTax Credit2BR,1BA$1.27
Bunting Lane ApartmentsThree Bed3BR,1.5BA$0.63
Le Sueur Apartments2 Bedroom2BR,1BA$1.25

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Getting Around Madison Lake, MN

Walk Score®

28 / 100

Car-Dependent

Most errands require a car

Bike Score®

47 / 100

Somewhat Bikeable

Minimal bike infrastructure

What Are Walk Score®, Transit Score®, and Bike Score® Ratings?

  • Walk Score® measures the walkability of any address.
  • Transit Score® measures access to public transit.
  • Bike Score® measures the bikeability of any address.

Frequently Asked Questions about Cheap Madison Lake Apartments

What is the Cheapest Studio apartment in Madison Lake?

Currently the most affordable Cheap Studio Apartment in Madison Lake is at Highland Hills Apartments listed at $720.

How much is rent for a Cheap One Bedroom Madison Lake Apartment?

The lowest price for a Cheap One Bedroom Madison Lake Apartment is $975 at Town's Edge Place Apartments.

What is the lowest price for a Cheap Two Bedroom Madison Lake Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Madison Lake is starting from $950 at Glenwood Terrace.

What is the most affordable Madison Lake Three Bedroom Apartment?

The best deal on a cheap Madison Lake Three Bedroom Apartment rental is at Cedar Meadow Apartments and starts from $1,249.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

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.

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Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Written by: Christine Leonard, Esq.

Throughout the day, think about all the times that you have to pay for something. So many of us reach automatically for a credit card or even our phone for a quick payment.

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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

Written by: Cheryl Bowman

A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.

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The Art of the Rental Viewing: What to look for during a property tour

Written by: Marie Brown

You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.

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Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.