Cheap Apartments for Rent in Montgomery, MN from $400 (60 Rentals)

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

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Midwest Flats
$915 - $1,715
Total Monthly Price12 Month Lease Term

Total Monthly Price

Base Rent
$875 - $1,675
Required Monthly Fees
$40
Total Monthly Price
$915 - $1,715
Studio to 2 Bedroom Apartments Available May 1

Midwest Flats

429 8th Ave NWFaribault, MN 55021
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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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Elmview Apartments
Rent Specials
$1,243 - $2,055
Total Monthly Price

Total Monthly Price

Base Rent
$1,183 - $1,995
Required Monthly Fees
$60
Total Monthly Price
$1,243 - $2,055
Studio to 4 Bedroom Apartments Available Now

Elmview Apartments

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

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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Creekside Commons Apartments
$1,294 - $1,794
Total Monthly Price12 Month Lease Term

Total Monthly Price

Base Rent
$1,195 - $1,695
Required Monthly Fees
$99
Total Monthly Price
$1,294 - $1,794
Studio to 2 Bedroom Apartments Available Now

Creekside Commons Apartments

16535 Tranquility Ct SEPrior Lake, MN 55372
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  • Utilities Included
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East Gate Estates
Rent Specials
$1,349 - $1,694
Total Monthly Price

Total Monthly Price

Base Rent
$1,345 - $1,690
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
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Hickory Grove Apartments
Rent Specials
$1,400 - $1,595
Total Monthly Price12 Month Lease Term

Total Monthly Price

Base Rent
$1,400 - $1,595
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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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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Authentix Lakeville
Rent Specials
$1,407 - $2,544
Total Monthly Price

Total Monthly Price

Base Rent
$1,261 - $2,398
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
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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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Henderson Apartments
1 to 3 Bedroom Apartments

Henderson Apartments

235 N 8th StHenderson, MN 56044
  • Utilities Included
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Hillcrest Apartments
1 to 2 Bedroom Apartments

Hillcrest Apartments

500 Boright StLe Sueur, MN 56058
  • 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
property at 94 Viking Terrace

$1,120

Total Monthly Price

Total Monthly Price

Base Rent
$1,120
Total Monthly Price
$1,120

3 Bedroom, 2 Bath Home for Rent

Available Now

94 Viking Terrace

NorthfieldMN55057
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Belle Court Apartments
1 to 2 Bedroom Apartments

Belle Court Apartments

561 S Elk St SBelle Plaine, MN 56011
  • Utilities Included
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Westgate Townhomes
2 to 3 Bedroom Apartments

Westgate Townhomes

600 1st St NWNew Prague, MN 56071
  • Utilities Included
property at 51 Viking Terrace

$1,320

Total Monthly Price

Total Monthly Price

Base Rent
$1,320
Total Monthly Price
$1,320

3 Bedroom, 2 Bath Home for Rent

Available Now

51 Viking Terrace

NorthfieldMN55057
property at 538 2nd St NW

$1,350

Total Monthly Price

Total Monthly Price

Base Rent
$1,350
Total Monthly Price
$1,350

2 Bedroom, 1 Bath Condo for Rent

Available Now

538 2nd St NW

FaribaultMN55021
property at 501 1st St W

$1,450

Total Monthly Price

Total Monthly Price

Base Rent
$1,450
Total Monthly Price
$1,450

2 Bedroom, 1 Bath Home for Rent

Available Now

501 1st St W

NorthfieldMN55057

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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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+MainStudioStudio,1BA$900
Tiller PlaceStudioStudio,1BA$900
Four Seasons ApartmentsCozy One Bedroom Apartment Home1BR,1BA$975
Hidden Valley Apartments** COMING SOON **2BR,1BA$1,010
Town's Edge Place Apartments1 Bedroom1BR,1BA$1,030
Greenfield Estates I & IIWaiting List - 1 Bedroom1BR,1BA$1,075
The Faribo ApartmentsOne Bedroom A1BR,1BA$1,118
Hillside ApartmentsOne Bedroom One Bathroom1BR,1BA$1,140

Best Value Apartments for Rent in Montgomery, MN and Nearby

As of April 30, 2026 the best value apartment in the Montgomery area is the $1.50 price per square foot 2 Bedroom 2 Bath + Den Model at Straight River Apartments, LLC in the in the Downtown Faribault neighborhood starting from $1,875. The second greatest value Montgomery apartment is the 2 bedroom 1 bathroom Model at Heritage Bluff Apartments LLC starting at $1,345 with a $1.36 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.
Straight River Apartments, LLC2 Bedroom 2 Bath + Den2BR,2BA$1.50
Heritage Bluff Apartments LLC2 bedroom 1 bathroom2BR,1BA$1.36
Town's Edge Place Apartments3 Bedroom3BR,2BA$1.50
Hidden Valley Apartments** COMING SOON **2BR,1BA$1.11
Hillside ApartmentsOne Bedroom One Bathroom1BR,1BA$1.30
Maple Trails Apartments** COMING SOON **2BR,1BA$1.61
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

10 Hidden Costs of Renting You Should Budget for Before Signing a Lease

Avoid financial stress when renting. Learn about the 10 most common hidden costs—from pet fees to utilities—you must budget for before you sign a lease.

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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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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.

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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+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 $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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Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts

Written by: Lauren Harrington

This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.

decorative image for What Does “Rent Burdened” Mean? How Much Rent Is Too Much article

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Written by: Lauren Harrington

This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.

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Maximizing Your Refund: Essential Tax Tips for Renters

Written by: Christine Leonard, Esq.

Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.

decorative image for 18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property article

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.