Cheap Apartments for Rent in Otsego, MN from $500 (44 Rentals)

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

property at 16125 72nd St NE

$1,975

Total Monthly Price12 Month Lease Term

Total Monthly Price

Base Rent
$1,975
Total Monthly Price
$1,975

2 Bedroom, 2 Bath Townhome for Rent

Available Aug 15

16125 72nd St NE

OtsegoMN55330
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Clear Sky
$573 - $2,047
Plus Fees12 Month Lease Term
1 to 4 Bedroom Apartments Contact Us For Availability

Clear Sky

10730 175th AveElk River, MN 55330
Cost Per Sq.Ft.
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  • Utilities Included

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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Dove Tree Apartments
Rent Specials
$1,295 - $1,820
Total Monthly Price12 Month Lease Term

Total Monthly Price

Base Rent
$1,295 - $1,820
Total Monthly Price
Varies
1 to 3 Bedroom Apartments Available Now

Dove Tree Apartments

1105 Lions Park DrElk River, MN 55330
Family Friendly
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  • Utilities Included

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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Quest Apartments
$1,421 - $2,390
Total Monthly Price12 Month Lease Term

Total Monthly Price

Base Rent
$1,406 - $2,375
Required Monthly Fees
$15
Total Monthly Price
$1,421 - $2,390
Studio to 3 Bedroom Apartments Available Now

Quest Apartments

13650 Marsh View AveRogers, MN 55374
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property at 11877 Frankfort Pkwy NE

$1,515 - $1,945

Total Monthly Price

Total Monthly Price

Base Rent
$1,515
Total Monthly Price
$1,515

1 To 2 Bedroom Rentals

Available Now

11877 Frankfort Pkwy NE

Saint MichaelMN55376
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Evans Meadows
$1,589 - $3,435
Total Monthly Price

Total Monthly Price

Base Rent
$1,585 - $3,431
Required Monthly Fees
$4
Total Monthly Price
$1,589 - $3,435
1 to 2 Bedroom Apartments Available Now

Evans Meadows

341 Evans Ave NWElk River, MN 55330
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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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The Dylan Apartments
$1,597 - $2,413
Total Monthly Price12 Month Lease Term

Total Monthly Price

Base Rent
$1,582 - $2,398
Required Monthly Fees
$15
Total Monthly Price
$1,597 - $2,413
1 to 3 Bedroom Apartments Available Now

The Dylan Apartments

11910 Town Center drSaint Michael, MN 55376
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Granite Shores
$1,895 - $2,165
Total Monthly Price

Total Monthly Price

Base Rent
$1,850 - $2,120
Required Monthly Fees
$45
Total Monthly Price
$1,895 - $2,165
2 Bedroom Apartments Available Aug 15

Granite Shores

633 Main StElk River, MN 55330
Family Friendly
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Elk Ridge Manor
1 to 3 Bedroom Apartments

Elk Ridge Manor

847 Freeport Ave NWElk River, MN 55330
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Pullman Place Cooperative
1 to 2 Bedroom Apartments

Pullman Place Cooperative

17155 Quincy St NWElk River, MN 55330
Senior Living
  • Utilities Included
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Pineview Apartments
1 to 2 Bedroom Apartments

Pineview Apartments

23 3rd St NWElk River, MN 55330
  • Utilities Included
property at 35 Lake St S

$950

Total Monthly Price

Total Monthly Price

Base Rent
$950
Total Monthly Price
$950

1 Bedroom, 1 Bath Condo for Rent

Available Aug 1

35 Lake St S

Big LakeMN55309
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Elk Ridges Estates
2 Bedroom Apartments

Elk Ridges Estates

11755 191 1/2 Ave NWElk River, MN 55330
  • 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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School Place Apartments
1 to 2 Bedroom Apartments

School Place Apartments

1179 School Dr NWElk River, MN 55330
  • Utilities Included
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Jackson Place
1 to 2 Bedroom Apartments

Jackson Place

316 Jackson Ave NWElk River, MN 55330
  • Utilities Included
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Elk Ridge Lodge
1 to 3 Bedroom Apartments

Elk Ridge Lodge

19522 Holt St NWElk River, MN 55330
  • Utilities Included
property at 721 Circle Dr

$1,695

Total Monthly Price

Total Monthly Price

Base Rent
$1,695
Total Monthly Price
$1,695

3 Bedroom, 1 Bath Condo for Rent

Available Now

721 Circle Dr

ChamplinMN55316

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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property at 860 Independence Dr

$1,799

Total Monthly Price12 Month Lease Term

Total Monthly Price

Base Rent
$1,799
Total Monthly Price
$1,799

2 Bedroom Rentals

Available Now

860 Independence Dr

Big LakeMN55309
property at 9127 MN-25

$1,875

Total Monthly Price

Total Monthly Price

Base Rent
$1,875
Total Monthly Price
$1,875

3 Bedroom, 2 Bath Home for Rent

Available Now

9127 MN-25

MonticelloMN55362
property at 9205 Orchard Cir

$1,985

Total Monthly Price

Total Monthly Price

Base Rent
$1,985
Total Monthly Price
$1,985

3 Bedroom Rentals

Available Sep 1

9205 Orchard Cir

MonticelloMN55362
property at 716 Washington Ct NW

$1,995

Total Monthly Price

Total Monthly Price

Base Rent
$1,995
Total Monthly Price
$1,995

3 Bedroom, 2 Bath Home for Rent

Available Aug 1

716 Washington Ct NW

Elk RiverMN55330
Showing Results 1-44, Page 1 of 1

Otsego, MN Local Guide

Cheapest Available Otsego Apartments for Rent

 

The cheapest available apartment rental in Otsego, MN is a Studio unit found at Elk River Lodge and Apartments in the Twin Lakes Estates neighborhood priced from $845. Westwind Apartments in the Meadow Pond neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,075. Here is today’s list of the most affordable Otsego apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Elk River Lodge and ApartmentsStudioStudio,1BA$845
Westwind Apartments1 bed 1 bath plus den1BR,1BA$1,075
Ridgewood Manor Partnership1 Bedroom 1 Bathroom1BR,1BA$1,150
Pheasant Ridge Apartments2 Bedroom - N/A2BR,1BA$1,160
Jackson Hills ApartmentsThe Bunker - CONTACT FOR AVAILABILITYStudio,1BA$1,189
Bedford Apartments1 BR/1 BA1BR,1BA$1,215
The Delta ApartmentsStudioStudio,1BA$1,245
Elk Crossing ApartmentsTwo Bedroom X-Large2BR,1BA$1,295
Dove Tree Apartments1 Bedroom D1BR,1BA$1,378
Dove Terrace2 Bedroom A - 8712BR,1BA$1,425

Best Value Apartments for Rent in Otsego, MN

As of July 30, 2026 the best value apartment in the Otsego area is the $1.59 price per square foot E1 - Empire Model at The Preserve at Albertville in the in the Meadow Pond neighborhood starting from $3,392. The second greatest value Otsego apartment is the Townhomes at Preserve Model at Townhomes at Preserve starting at $2,995 with a $1.56 price per square foot in the Brockton Meadows neighborhood. Here is today’s list of the best values for Otsego apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
The Preserve at AlbertvilleE1 - Empire4BR,2.5BA$1.59
Townhomes at PreserveTownhomes at Preserve3BR,2.5BA$1.56
Elk Crossing ApartmentsTwo Bedroom X-Large2BR,1BA$1.22
Kingston Crossings2Bed - 2Bath2BR,2BA$1.81
The Preserve at CommerceImperial2BR,1BA$1.83
Lions Park ApartmentsTwo Bedroom/ One Bath2BR,1BA$1.45
Dove Terrace2 Bedroom A - 8712BR,1BA$1.64
Bedford Apartments1 BR/1 BA1BR,1BA$1.80
Westwind Apartments1 bed 1 bath plus den1BR,1BA$1.66
Pheasant Ridge Apartments2 Bedroom - N/A2BR,1BA$1.95

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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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.

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

Explore Otsego, MN Rentals by Map

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See the most popular apartments and homes in Otsego, MN

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Frequently Asked Questions about Cheap Otsego Apartments

What is the Cheapest Studio apartment in Otsego?

Currently the most affordable Cheap Studio Apartment in Otsego is at Elk River Lodge and Apartments listed at $845.

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

The lowest price for a Cheap One Bedroom Otsego Apartment is $1,075 at Westwind Apartments.

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

Today's best deal for a Cheap Two Bedroom Apartment in Otsego is starting from $1,160 at Pheasant Ridge Apartments.

What is the most affordable Otsego Three Bedroom Apartment?

The best deal on a cheap Otsego Three Bedroom Apartment rental is at Pheasant Ridge Apartments and starts from $1,210.

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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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.

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First Apartment Regrets: Real Renters Share What They'd Do Differently

Written by: Robin Stewart

Hindsight is 20/20. Live and Learn. With age comes wisdom. We’re familiar with all those expressions, and all of them apply to lessons first-time renters learn.

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.

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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.