
Cheap Apartments for Rent near Madison Lake, MN from $427 (58 Rentals)
Search the lowest-cost Apartments available for rent right now in Madison Lake.


College Station

F and H Apartments

Glenwood Terrace

Le Sueur Apartments

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Hoover Estates

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The Grove at Mankato

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River Bluff Apartments

Key City Group, LLC (BT)

201 Pilgrim St
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.

Southwood Flats

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Village Court Apartments

Town's Edge Place Apartments

Gray Hawk Apartments

Total Monthly Price
STP Group, LLC (ROK)

Cherry Square

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The Edge Apartments

Capital Lofts

Cedar Meadow Apartments

Philipp Square Senior Apartments 55+
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.

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Augusta Park Estates

Victory Ridge Apartments

Skyway Properties LLC

Huntington Hills Apartments & Townhomes

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The Alma

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Traverse Green

Tiller+Main

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Legacy Park Estates

Dublin Road Townhomes

The Forde
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.

Village Place Flats

Village Place Apartments of Mankato

Riverfront Court

Cardinal Creek Apartments

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Woodside Apartments

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Greenfield Estates I & II

340 Webster

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Pond View Heights Apartments

Ohana Apartments

Lewis Lofts
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.

Autumn Glen Townhomes

Cherry Ridge Apartments

Knollcrest

815 N 4th St

107 S 5th St

Rita Road

325.5 McKinley Ave

Pfau Reed Apartments

1611 5th Ave

1109 1st Ave NW
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.
Madison Lake, MN Local Guide

How much does it cost to rent an apartment in Madison Lake?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Madison Lake Studio Apartments | $1,177 | $1,050 | $1,315 |
| Madison Lake 1 Bedroom Apartments | $1,256 | $825 | $2,155 |
| Madison Lake 2 Bedroom Apartments | $1,386 | $722 | $2,155 |
| Madison Lake 3 Bedroom Apartments | $1,547 | $925 | $2,415 |
| Madison Lake 4 Bedroom Apartments | $1,880 | $1,780 | $1,980 |
Browse Top Apartments in Madison Lake
See all Apartments in Madison LakeExplore Madison Lake
Madison Lake, MN Local Guide
- Nearby Cities
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Cheapest Available Madison Lake Apartments for Rent and Nearby
 The cheapest available apartment rental in Madison Lake, MN is a 5 Beds unit found at Highland Hills Apartments in the University neighborhood priced from $295. College Station in the University neighborhood has the second lowest priced unit, which is a 5 Beds apartment currently listed from $427. Here is today’s list of the most affordable Madison Lake apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Highland Hills Apartments | Highland East B | 5BR,2BA | $295 |
| College Station | 5 Bedroom 2 bath | 5BR,2BA | $427 |
| F and H Apartments | 1 Bed, 1 bath | 1BR,1BA | $825 |
| Le Sueur Apartments | 1 Bedroom | 1BR,1BA | $895 |
| Hoover Estates | Efficient One Bedroom Apartment Home | 1BR,1BA | $918 |
| Glenwood Terrace | 2 BR/ 1 BA | 2BR,1BA | $985 |
| Key City Group, LLC (BT) | 2BR/1.0BA | 2BR,1BA | $995 |
| Cherry Ridge Apartments | Tax Credit | 2BR,1BA | $995 |
| 201 Pilgrim St | 1 Bedroom | 1BR,1BA | $1,000 |
| Southwood Flats | 1 Bed, 1 Bath (Phase 1) | 1BR,1BA | $1,004 |
Best Value Apartments for Rent in Madison Lake, MN and Nearby
As of September 07, 2026 the best value apartment in the Madison Lake area is the $1.14 price per square foot 3 bed 2.5 bath (Interior) Model at Fox Run Townhomes in the in the City Center Mankato neighborhood starting from $1,995. The second greatest value Madison Lake apartment is the 5 Bedroom 2 bath Model at College Station starting at $427 with a $0.32 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 Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Fox Run Townhomes | 3 bed 2.5 bath (Interior) | 3BR,2.5BA | $1.14 |
| College Station | 5 Bedroom 2 bath | 5BR,2BA | $0.32 |
| Dublin Road Townhomes | 3 Bedroom 1.5 Bath Market | 3BR,1.5BA | $1.20 |
| Legacy Park Estates | Three Bedroom 1.75 Bathroom | 3BR,1.75BA | $1.24 |
| Greenfield Estates I & II | Two Bedroom Apartment | 2BR,1BA | $1.23 |
| The Edge Apartments | Two Bedroom | 2BR,1BA | $1.21 |
| Key City Group, LLC (BT) | 2BR/1.0BA | 2BR,1BA | $1.12 |
| Glenwood Terrace | 2 BR/ 1 BA | 2BR,1BA | $1.19 |
| Cherry Ridge Apartments | Tax Credit | 2BR,1BA | $1.21 |
| Bunting Lane Apartments | Individual Roommates Included! | 2BR,2BA | $0.73 |
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 Madison Lake, MN Rentals by Map
See the most popular apartments and homes in Madison Lake, MN
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 STP Group, LLC (ROK) listed at $1,050.
How much is rent for a Cheap One Bedroom Madison Lake Apartment?
The lowest price for a Cheap One Bedroom Madison Lake Apartment is $825 at F and H 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 $985 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 $1,099.
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.