Cheap Apartments for Rent in Montgomery, MN from $400 (57 Rentals)

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

property at 488 N Welco Dr

$925

Total Monthly Price

Total Monthly Price

Base Rent
$925

Total Monthly Price
$925

1 Bedroom, 1 Bath Home for Rent

Available Sep 10

488 N Welco Dr

MontgomeryMN56069

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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The Faribo Apartments
$1,118 - $1,244
Total Monthly Price12 Month Lease Term

Total Monthly Price

Base Rent
$1,099 - $1,225
Required Monthly Fees
$19

Total Monthly Price
$1,118 - $1,244
1 to 2 Bedroom Apartments Available Now

The Faribo Apartments

123 2nd St NWFaribault, MN 55021
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Elmview Apartments
Rent Specials
$1,243 - $1,955
Total Monthly Price

Total Monthly Price

Base Rent
$1,183 - $1,895
Required Monthly Fees
$60

Total Monthly Price
$1,243 - $1,955
Studio to 3 Bedroom Apartments Available Now

Elmview Apartments

1740 Willow StFaribault, MN 55021
  • Verified
  • Utilities Included
  • 3D Tour

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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Creekside Commons Apartments
$1,294 - $1,524
Total Monthly Price12 Month Lease Term

Total Monthly Price

Base Rent
$1,195 - $1,425
Required Monthly Fees
$99

Total Monthly Price
$1,294 - $1,524
Studio to 1 Bedroom Apartments Available Sep 11

Creekside Commons Apartments

16535 Tranquility Ct SEPrior Lake, MN 55372
Affordability
  • Verified
  • Customer Reviewed
  • Utilities Included
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Hickory Grove Apartments
Rent Specials
$1,300 - $1,545
Total Monthly Price12 Month Lease Term

Total Monthly Price

Base Rent
$1,300 - $1,545

Total Monthly Price
Varies
1 to 2 Bedroom Apartments Available Now

Hickory Grove Apartments

1201 Enterprise Dr EBelle Plaine, MN 56011
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  • Utilities Included
  • 3D Tour
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Authentix Lakeville
Rent Specials
$1,393 - $2,502
Total Monthly Price

Total Monthly Price

Base Rent
$1,247 - $2,356
Required Monthly Fees
Varies

Total Monthly Price
Varies
Studio to 3 Bedroom Apartments Available Now

Authentix Lakeville

11656 207th St WLakeville, MN 55044
Corporate Housing
  • Verified
  • Customer Reviewed
  • 3D Tour

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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East Gate Estates
Rent Specials
$1,453 - $1,539
Total Monthly Price

Total Monthly Price

Base Rent
$1,449 - $1,535
Required Monthly Fees
Varies

Total Monthly Price
Varies
2 to 3 Bedroom Apartments Available Now

East Gate Estates

1200 4th St NENew Prague, MN 56071
  • Verified
  • Customer Reviewed
  • Smoke Free
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Northview Apartments
1 to 2 Bedroom Apartments

Northview Apartments

532-568 N Cordova AveLe Center, MN 56057
  • Utilities Included

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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Henderson Apartments
1 to 3 Bedroom Apartments

Henderson Apartments

235 N 8th StHenderson, MN 56044
  • Utilities Included
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Midwest Flats
Studio to 2 Bedroom Apartments

Midwest Flats

429 8th Ave NWFaribault, MN 55021
  • Utilities Included
property at 561 S Elk St

$1,095 - $1,445

Total Monthly Price

Total Monthly Price

Base Rent
$1,225

Total Monthly Price
$1,225

1 To 2 Bedroom Rentals

Available Now

561 S Elk St

Belle PlaineMN56011
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Westgate Townhomes
2 to 3 Bedroom Apartments

Westgate Townhomes

600 1st St NWNew Prague, MN 56071
  • Utilities Included
property at 960 N 3rd St

$1,325

Total Monthly Price

Total Monthly Price

Base Rent
$1,325

Total Monthly Price
$1,325

1 Bedroom Rentals

Available Sep 11

960 N 3rd St

St. PeterMN56082
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Pineview Townhomes
2 Bedroom Apartments

Pineview Townhomes

300 Bradbury WayJordan, MN 55352
  • Utilities Included
property at 1114 4th St NW

$1,625

Total Monthly Price

Total Monthly Price

Base Rent
$1,625

Total Monthly Price
$1,625

3 Bedroom, 1 Bath Home for Rent

Available Aug 1

1114 4th St NW

FaribaultMN55021
property at 203 Spruce Ln

$1,679

Total Monthly Price

Total Monthly Price

Base Rent
$1,679

Total Monthly Price
$1,679

2 Bedroom, 2 Bath Home for Rent

Available Now

203 Spruce Ln

MankatoMN56001

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.

Montgomery, MN Local Guide

Cheapest Available Montgomery Apartments for Rent and Nearby

 

The cheapest available apartment rental in Montgomery, MN is a 1 Bed unit found at Le Sueur Apartments in the Le Sueur County neighborhood priced from $895. Tiller+Main in the Le Sueur County neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $900. Here is today’s list of the most affordable Montgomery apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Le Sueur Apartments1 Bedroom1BR,1BA$895
Tiller+MainStudioStudio,1BA$900
Le Sueur MeadowsOne Bedroom1BR,1BA$945
Four Seasons ApartmentsCozy One Bedroom Apartment Home1BR,1BA$975
Hillcrest Apartments2BD/1BA2BR,1BA$995
Town's Edge Place Apartments1 Bedroom1BR,1BA$1,033
Parkside Apartments1 bedroom1BR,1BA$1,050
Greenfield Estates I & IIWaiting List - 1 Bedroom1BR,1BA$1,075
Belle CourtUnit B3042BR,1BA$1,095
Elmview Apartments2 BD/1 BA2BR,1BA$1,243

Best Value Apartments for Rent in Montgomery, MN and Nearby

As of July 29, 2026 the best value apartment in the Montgomery area is the $1.16 price per square foot 3 Bedroom 2 Bath Model at Jordan Valley Townhomes in the in the Scott Far Western Suburbs neighborhood starting from $1,855. The second greatest value Montgomery apartment is the 2 Bedroom 2 Bath + Den Model at Straight River Apartments, LLC starting at $1,875 with a $1.50 price per square foot in the Downtown Faribault neighborhood. Here is today’s list of the best values for Montgomery apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Jordan Valley Townhomes3 Bedroom 2 Bath3BR,2BA$1.16
Straight River Apartments, LLC2 Bedroom 2 Bath + Den2BR,2BA$1.50
Trails Edge Apartments LLC3 bedroom 2 bathroom3BR,2BA$1.41
Hillside ApartmentsTwo Bedroom One Bathroom2BR,1BA$1.38
Heritage Bluff Apartments LLC2 bedroom 1 bathroom2BR,1BA$1.31
Tiller Place2 bedrooms2BR,1BA$1.51
Town's Edge Place Apartments2 Bedroom2BR,1BA$1.40
Hillcrest Apartments2BD/1BA2BR,1BA$1.22
Greenfield Estates I & IIWaiting List - 1 Bedroom1BR,1BA$1.43
Le Sueur Apartments1 Bedroom1BR,1BA$1.49

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.

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Real 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.

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Remember the 3 Rules of Real Estate:
Location, Location, Location!

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Frequently Asked Questions about Cheap Montgomery Apartments

What is the Cheapest Studio apartment in Montgomery?

Currently the most affordable Cheap Studio Apartment in Montgomery is at Tiller+Main listed at $900.

How much is rent for a Cheap One Bedroom Montgomery Apartment?

The lowest price for a Cheap One Bedroom Montgomery Apartment is $895 at Le Sueur Apartments.

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

Today's best deal for a Cheap Two Bedroom Apartment in Montgomery is starting from $995 at Hillcrest Apartments.

What is the most affordable Montgomery Three Bedroom Apartment?

The best deal on a cheap Montgomery Three Bedroom Apartment rental is at Four Seasons Apartments and starts from $1,350.

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

decorative image for Rent According to Income: A Look at Income-Restricted Rentals   article

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.

decorative image for Renters Insurance 101: What It Is, What It Covers, and Why You Need It article

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.

decorative image for Apartment Occupancy Rates: Renter Attraction vs Renter Retention   article

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.

decorative image for How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide article

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.