
Cheap Apartments for Rent near Mentor, MN from $495 (36 Rentals)
Search the lowest-cost Apartments available for rent right now in Mentor.


Southern Manor Apartments

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Parkwood Apartments

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Prairie Rose

Landmark Estates

Valley Park Apartments

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Broadway Apartments

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Fisher Townhomes

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Valley Pines Apartments
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.

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River Falls Estates

Block V

Greenfield Apartments

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Green Acres

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Prairieland Duplexes

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First Street Estates

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Agassiz Townhomes

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Wheatland Estates

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West River Falls
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.

Franklin on 4th

Halstad Community Homes

Pioneer Court A Ltd Ptshp

2506 8th St N

Valley View Commons

376 4th St E

32 10th Ave N

Nimens Espegard Apartments

Country Acres Apartment
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.

701 Lily Ln

1203 34th St Cir S

Crookston Townhomes

Country Place Apartments

Heritage Highland II Townhomes

The Meadows

Heritage Highlands

1235-11 1/2 11 1/2 St N

18210 139th St NE
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.
Mentor, MN Local Guide

How much does it cost to rent an apartment in Mentor?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Mentor Studio Apartments | $958 | $495 | $1,270 |
| Mentor 1 Bedroom Apartments | $1,174 | $695 | $1,895 |
| Mentor 2 Bedroom Apartments | $1,325 | $695 | $2,150 |
| Mentor 3 Bedroom Apartments | $1,519 | $940 | $2,410 |
| Mentor 4 Bedroom Apartments | $1,573 | $1,223 | $2,475 |
Browse Top Apartments in Mentor
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Mentor, MN Local Guide
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Cheapest Available Mentor Apartments for Rent and Nearby
 The cheapest available apartment rental in Mentor, MN is a 2 Beds unit found at Parkwood Apartments priced from $695. Prairie Rose has the second lowest priced unit, which is a 1 Bed apartment currently listed from $696. Here is today’s list of the most affordable Mentor apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Parkwood Apartments | 2 Beds, 1 bath | 2BR, 1BA | $695 |
| Prairie Rose | One Bedroom | 1BR, 1BA | $696 |
| Broadway Apartments | 1 bedroom 1 bath | 1BR, 1BA | $803 |
| Block V | STUDIO/1BA | Studio, 1BA | $850 |
| Prairieland Duplexes | 2 bedroom Duplex | 2BR, 1BA | $910 |
| West River Falls | 210-111 | 1BR, 1BA | $997 |
| Greentree Square II | 1 bedroom 1 bath | 1BR, 1BA | $1,019 |
| Southwood Park Townhomes | Southwood 2 bedroom | 2BR, 1BA | $1,024 |
| Ashland Apartment Homes | C1 | 3BR, 2BA | $1,535 |
| Northern Heights Apartments | 3 Bed/2 Bath | 1,334 SF | 3BR, 2BA | $1,670 |
Best Value Apartments for Rent in Mentor, MN and Nearby
As of September 18, 2026 the best value apartment in the Mentor area is the $1.42 price per square foot 2B/2B Condo C Model at The Beacon CLO in the Downtown Grand Forks neighborhood starting from $2,150. The second greatest value Mentor apartment is the 3 Bed/2 Bath | 1,334 SF Model at Northern Heights Apartments in the Downtown Grand Forks neighborhood starting at $1,670 with a $1.25 price per square foot. Here is today’s list of the best values for Mentor apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| The Beacon CLO | 2B/2B Condo C | 2BR, 2BA | $1.42 |
| Northern Heights Apartments | 3 Bed/2 Bath | 1,334 SF | 3BR, 2BA | $1.25 |
| Cottage Grove | 3A | 3BR, 2BA | $1.27 |
| Ashland Apartment Homes | C1 | 3BR, 2BA | $1.35 |
| Southwood Park Townhomes | Southwood 2 bedroom | 2BR, 1.5BA | $1.02 |
| Parkwood Apartments | 2 Beds, 1 bath | 2BR, 1BA | $0.72 |
| Prairieland Duplexes | 2 bedroom Duplex | 2BR, 1BA | $1.14 |
| West River Falls | 210-111 | 1BR, 1BA | $1.30 |
| Broadway Apartments | 1 bedroom 1 bath | 1BR, 1BA | $1.15 |
| Prairie Rose | One Bedroom | 1BR, 1BA | $1.21 |
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
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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 Mentor, MN Rentals by Map
See the most popular apartments and homes in Mentor, MN
Frequently Asked Questions about Cheap Mentor Apartments
How much is rent for a Cheap One Bedroom Mentor Apartment?
The lowest price for a Cheap One Bedroom Mentor Apartment is $696 at Prairie Rose.
What is the lowest price for a Cheap Two Bedroom Mentor Apartment for rent?
Today's best deal for a Cheap Two Bedroom Apartment in Mentor is starting from $695 at Parkwood Apartments.
What is the most affordable Mentor Three Bedroom Apartment?
The best deal on a cheap Mentor Three Bedroom Apartment rental is at Prairie Rose and starts from $951.
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.

How Commercial-to-Residential Property Conversions Help the Housing Crisis
Written by: Robin Stewart
Many housing markets throughout America share a common complaint: a lack of affordable rental properties.

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.