
Cheap Apartments for Rent near Pennington, MN from $400 (40 Rentals)
Search the lowest-cost Apartments available for rent right now in Pennington.


1022 Comstock Dr

White House and Blair House

Deering Manor - Section 8: 62+ ,Handicapped,

Silverwood Apartments

McCarthy Apartments

212 NE 3rd Ave

Canal Apartments
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.

Total Monthly Price
Stony Ridge Studios

Parkview Housing

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Capitol Hill Studios

Sunridge Apartments

Gatewood Park

Total Monthly Price
Presidential Estates/ Justice Apartments

Pelican Heights Apartments

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Cedar Pointe Estates Apartments
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.

Meadows Edge Apartments

Timber Ridge Apartments

Riverview Apartments

100 7th St NE

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Regency Park North

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Regency Park South

River Hills Apartments

Cedar Street Complex
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.

301 15th St NW

The Villas at Vista North

112 SW 21st St

1414 Beltrami Ave NW, Unit A

20 S Main St

Silver Birch

Marigold Apartments

Sebeka Housing
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.

Park Rapids Apartments

Condor Apartments - Section 8 community

JP Place

30917 S Oak St

255 5th St SW

403 Park Ave NW

911 NW 8th St

29366 Pine Ridge Rd
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.
Pennington, MN Local Guide

How much does it cost to rent an apartment in Pennington?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Pennington Studio Apartments | $909 | $800 | $1,065 |
| Pennington 1 Bedroom Apartments | $1,045 | $580 | $1,850 |
| Pennington 2 Bedroom Apartments | $1,546 | $694 | $2,500 |
| Pennington 3 Bedroom Apartments | $1,345 | $1,175 | $1,800 |
| Pennington 4 Bedroom Apartments | $1,400 | $1,400 | $1,400 |
Browse Top Apartments in Pennington
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Pennington, MN Local Guide
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Cheapest Available Pennington Apartments for Rent and Nearby
 The cheapest available apartment rental in Pennington, MN is a 1 Bed unit found at White House and Blair House priced from $690. Deering Manor - Section 8: 62+ ,Handicapped, has the second lowest priced unit, which is a 1 Bed apartment currently listed from $715. Here is today’s list of the most affordable Pennington apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| White House and Blair House | Blair House Single Bedroom | 1BR,1BA | $690 |
| Deering Manor - Section 8: 62+ ,Handicapped, | Deering Manor, 1 bed, 1 bath. | 1BR,1BA | $715 |
| Silverwood Apartments | 1 Bedroom | 1BR,1BA | $793 |
| McCarthy Apartments | 2 Bedroom | 2BR,1BA | $794 |
| Canal Apartments | Efficiency | Studio,1BA | $800 |
| Presidential Estates/ Justice Apartments | One bedroom./ One bathroom | 1BR,1BA | $925 |
| Parkview Housing | 2 Bedroom | 2BR,1BA | $1,029 |
| Riverview Apartments | TIF - Unit C - Alcove | Studio,1BA | $1,050 |
| JP Place | Mason | 3BR,2BA | $1,525 |
Best Value Apartments for Rent in Pennington, MN and Nearby
As of August 08, 2026 the best value apartment in the Pennington area is the $1.31 price per square foot Mason Model at JP Place in the starting from $1,525. The second greatest value Pennington apartment is the 2 Bedroom Model at McCarthy Apartments starting at $794 with a $0.99 price per square foot . Here is today’s list of the best values for Pennington apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| JP Place | Mason | 3BR,2BA | $1.31 |
| McCarthy Apartments | 2 Bedroom | 2BR,1BA | $0.99 |
| Parkview Housing | 2 Bedroom | 2BR,1BA | $1.34 |
| Presidential Estates/ Justice Apartments | One bedroom./ One bathroom | 1BR,1BA | $1.38 |
| Silverwood Apartments | 1 Bedroom | 1BR,1BA | $1.30 |
| Deering Manor - Section 8: 62+ ,Handicapped, | Deering Manor, 1 bed, 1 bath. | 1BR,1BA | $1.22 |
| White House and Blair House | Blair House Single Bedroom | 1BR,1BA | $1.25 |
| Riverview Apartments | TIF - Unit C - Alcove | Studio ,1BA | $2.23 |
| Canal Apartments | Efficiency | Studio ,1BA | $1.78 |
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 Pennington, MN Rentals by Map
See the most popular apartments and homes in Pennington, MN
Frequently Asked Questions about Cheap Pennington Apartments
What is the Cheapest Studio apartment in Pennington?
Currently the most affordable Cheap Studio Apartment in Pennington is at Canal Apartments listed at $800.
How much is rent for a Cheap One Bedroom Pennington Apartment?
The lowest price for a Cheap One Bedroom Pennington Apartment is $690 at White House and Blair House.
What is the lowest price for a Cheap Two Bedroom Pennington Apartment for rent?
Today's best deal for a Cheap Two Bedroom Apartment in Pennington is starting from $794 at McCarthy Apartments.
What is the most affordable Pennington Three Bedroom Apartment?
The best deal on a cheap Pennington Three Bedroom Apartment rental is at JP Place and starts from $1,525.
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

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.

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.

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.

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.