
Cheap Apartments for Rent in Oak Island, MN from $500 (34 Rentals)
Search the lowest-cost Apartments available for rent right now in Oak Island.


Green Acres

Prairie Rose

Northwood Commons

Oakwood Homes

Broadway Apartments

Fisher Townhomes

Eleven01 Apartments
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.

Parkwood Apartments

Block V

Tamarack Place

Crookston Townhomes

Heritage Terrace Townhomes

Wheatland Estates

Prairieland Duplexes

First Street Estates
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.

Heritage Highland II Townhomes

820 Stuart Ave

Agassiz Townhomes

Heritage Highlands

Franklin on 4th

Greentree Square II

Southwood Park Townhomes

Icon Apartments
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.

411 River St NE, Unit 14, Unit 14

Total Monthly Price
River Falls Estates

Northwood Park Townhomes

631 Great Plains Ct

Pioneer Court A Ltd Ptshp

Condor Apartments - Section 8 community

Country Acres Apartment

401 N 4th St
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.

Historic Wings LLC Apartments

The Meadows
Oak Island, MN Local Guide

How much does it cost to rent an apartment in Oak Island?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Oak Island Studio Apartments | $1,092 | $900 | $1,250 |
| Oak Island 1 Bedroom Apartments | $1,063 | $690 | $1,895 |
| Oak Island 2 Bedroom Apartments | $1,181 | $808 | $2,100 |
| Oak Island 3 Bedroom Apartments | $1,357 | $899 | $2,345 |
| Oak Island 4 Bedroom Apartments | $1,573 | $1,223 | $2,475 |
Browse Top Apartments in Oak Island
See all Apartments in Oak IslandExplore Oak Island
Oak Island, MN Local Guide
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Cheapest Available Oak Island Apartments for Rent and Nearby
 The cheapest available apartment rental in Oak Island, MN is a 1 Bed unit found at Green Acres priced from $690. White House and Blair House has the second lowest priced unit, which is a 1 Bed apartment currently listed from $690. Here is today’s list of the most affordable Oak Island apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Green Acres | Charming 1BR Apartment with Fresh Paint! | 1BR,1BA | $690 |
| White House and Blair House | Blair House Single Bedroom | 1BR,1BA | $690 |
| Northwood Commons | 1 Bedroom | 1BR,1BA | $716 |
| Oakwood Homes | 1B H/C Apartment | 1BR,1BA | $766 |
| Broadway Apartments | 1 bedroom 1 bath | 1BR,1BA | $800 |
| Eleven01 Apartments | A1 | 1BR,1BA | $816 |
| Prairie Rose | Two Bedroom Apartment | 2BR,1BA | $823 |
| Block V | STUDIO/1BA | Studio,1BA | $850 |
| Tamarack Place | 1 Bedroom | 1BR,1BA | $866 |
| Wheatland Estates | 1 Bed 1 Bath | 1BR,1BA | $895 |
Best Value Apartments for Rent in Oak Island, MN and Nearby
As of May 24, 2026 the best value apartment in the Oak Island area is the $0.57 price per square foot 3 Bedroom 1 Bath Handi Cap Unit Model at Agassiz Townhomes in the starting from $1,046. The second greatest value Oak Island apartment is the 3 Bed/2 Bath | 1,408 SF Model at Northern Heights Apartments starting at $1,760 with a $1.25 price per square foot in the Downtown Grand Forks neighborhood. Here is today’s list of the best values for Oak Island apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Agassiz Townhomes | 3 Bedroom 1 Bath Handi Cap Unit | 3BR,1BA | $0.57 |
| Northern Heights Apartments | 3 Bed/2 Bath | 1,408 SF | 3BR,2BA | $1.25 |
| Heritage Terrace Townhomes | 3 bedroom | 3BR,1.5BA | $0.70 |
| Southwood Park Townhomes | Sherwood 2 bedroom | 2BR,1.5BA | $0.87 |
| River Falls Estates | Unit 213 | 2BR,1BA | $1.07 |
| Prairieland Duplexes | 3 bedroom Duplex | 3BR,1BA | $1.14 |
| Prairie Rose | Three Bedroom Apartment | 3BR,1BA | $1.08 |
| Oakwood Homes | 1B Apartment | 1BR,1BA | $1.03 |
| Broadway Apartments | 1 bedroom 1 bath | 1BR,1BA | $1.14 |
| Green Acres | Charming 1BR Apartment with Fresh Paint! | 1BR,1BA | $1.20 |
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 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 Oak Island, MN Rentals by Map
See the most popular apartments and homes in Oak Island, MN
Frequently Asked Questions about Cheap Oak Island Apartments
How much is rent for a Cheap One Bedroom Oak Island Apartment?
The lowest price for a Cheap One Bedroom Oak Island Apartment is $690 at Green Acres.
What is the lowest price for a Cheap Two Bedroom Oak Island Apartment for rent?
Today's best deal for a Cheap Two Bedroom Apartment in Oak Island is starting from $823 at Prairie Rose.
What is the most affordable Oak Island Three Bedroom Apartment?
The best deal on a cheap Oak Island Three Bedroom Apartment rental is at Heritage Terrace Townhomes and starts from $948.
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

A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back
Written by: Lauren Harrington
I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.

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.

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.

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.