Cheap Apartments for Rent in Montgomery, MN from $400 (23 Rentals)

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

property at 488 N Welco Dr

$900

Total Monthly Price

Total Monthly Price

Base Rent
$900

Total Monthly Price
$900

1 Bedroom, 1 Bath Home for Rent

Available Feb 10

488 N Welco Dr

MontgomeryMN56069
property at 400 N Welco Dr

$1,050

Total Monthly Price

Total Monthly Price

Base Rent
$1,050

Total Monthly Price
$1,050

2 Bedroom, 1 Bath Home for Rent

Available Now

400 N Welco Dr

MontgomeryMN56069

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.

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Midwest Flats
$1,039 - $1,839
Total Monthly Price12 Month Lease Term

Total Monthly Price

Base Rent
$999 - $1,799
Required Monthly Fees
$40

Total Monthly Price
$1,039 - $1,839
Studio to 2 Bedroom Apartments Available May 1

Midwest Flats

429 8th Ave NWFaribault, MN 55021
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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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Northview Apartments
1 to 2 Bedroom Apartments

Northview Apartments

532-568 N Cordova AveLe Center, MN 56057
  • Utilities Included
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Hillcrest Apartments
1 to 2 Bedroom Apartments

Hillcrest Apartments

500 Boright StLe Sueur, MN 56058
  • Utilities Included
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Henderson Apartments
1 to 3 Bedroom Apartments

Henderson Apartments

235 N 8th StHenderson, MN 56044
  • Utilities Included

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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Le Sueur Meadows
2 Bedroom Apartments

Le Sueur Meadows

417 Turril StLe Sueur, MN 56058
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Brooksville
1 to 2 Bedroom Apartments

Brooksville

16829 Toronto Ave SEPrior Lake, MN 55372
  • Utilities Included

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 Cardinal Ridge Apartments 62+ in the Scott Far Western Suburbs neighborhood priced from $750. Le Sueur Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $895. Here is today’s list of the most affordable Montgomery apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Cardinal Ridge Apartments 62+1 Bedroom1BR,1BA$750
Le Sueur Apartments1 Bedroom1BR,1BA$895
Tiller PlaceStudioStudio,1BA$900
Four Seasons ApartmentsCozy One Bedroom Apartment Home1BR,1BA$975
Town's Edge Place Apartments1 Bedroom1BR,1BA$1,030

Best Value Apartments for Rent in Montgomery, MN and Nearby

As of January 27, 2026 the best value apartment in the Montgomery area is the $1.09 price per square foot 3 Bedroom 2 Bath Model at Jordan Valley Townhomes in the in the Scott Far Western Suburbs neighborhood starting from $1,742. 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$1.09
Straight River Apartments, LLC2 Bedroom 2 Bath + Den2BR,2BA$1.50
Brecken Place 2nd AdditionThree Bedroom3BR,2BA$1.22
Pineview TownhomesTwo Bedroom2BR,1.5BA$1.54
Heritage Bluff Apartments LLC2 bedroom 1 bathroom2BR,1BA$1.36
Town's Edge Place Apartments3 Bedroom3BR,2BA$1.50
Greenfield Estates I & IIWaiting List - 1 Bedroom1BR,1BA$1.43
Tiller PlaceStudioStudio ,1BA$1.36
Cardinal Ridge Apartments 62+1 Bedroom1BR,1BA$1.17
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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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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Quick Rent Budget Calculator

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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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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 Place 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 $750 at Cardinal Ridge Apartments 62+.

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 $1,000 at Le Sueur 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

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18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

Written by: Lauren Harrington

Renting your next home can feel thrilling and overwhelming at the same time.

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A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment

Written by: Bob Mallory

Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.

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Renting with Roommates: Realistic Expectations for Shared Lease

Written by: Christine Leonard, Esq.

Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.

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Apartment Common Area Rules: What Renters Need to Know

Written by: Christine Leonard, Esq.

Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.