
Cheap Apartments for Rent in Pennington, MN from $500 (18 Rentals)
Search the lowest-cost Apartments available for rent right now in Pennington.


1022 Comstock Dr

109 3rd Ave

White House and Blair House

207 Cedar St NE

Sebeka Housing
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.

Park Rapids Apartments

McCarthy Apartments

Canal Apartments

212 NE 3rd Ave

Stony Ridge Studios

Presidential Estates/ Justice Apartments
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.

Parkview Housing

Sunridge Apartments

Silver Birch

Marigold Apartments

Condor Apartments - Section 8 community

Capitol Hill Studios
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.
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 | $1,042 | $800 | $1,850 |
| Pennington 1 Bedroom Apartments | $849 | $580 | $1,145 |
| Pennington 2 Bedroom Apartments | $1,120 | $694 | $1,475 |
| Pennington 3 Bedroom Apartments | $1,227 | $1,006 | $1,337 |
| Pennington 4 Bedroom Apartments | $1,462 | $1,193 | $1,795 |
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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 Pine Tree Housing Corp. priced from $580. 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 Pennington apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Pine Tree Housing Corp. | One Bed | 1BR,1BA | $580 |
| White House and Blair House | Blair House Single Bedroom | 1BR,1BA | $690 |
| Condor Apartments - Section 8 community | 1 bed, 1 bath | 1BR,1BA | $780 |
| Canal Apartments | Efficiency | Studio,1BA | $800 |
| Presidential Estates/ Justice Apartments | Studio | Studio,1BA | $825 |
Best Value Apartments for Rent in Pennington, MN and Nearby
As of January 29, 2026 the best value apartment in the Pennington area is the $1.35 price per square foot Otter Model at JP Place in the starting from $1,400. The second greatest value Pennington apartment is the Two Bedroom Standard Model at The Villas at Vista North starting at $1,385 with a $1.43 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 | Otter | 2BR,2BA | $1.35 |
| The Villas at Vista North | Two Bedroom Standard | 2BR,1BA | $1.43 |
| Cedar Pointe Estates Apartments | 2 Bedroom / 1 Bathroom Std | 2BR,1BA | $1.27 |
| Cedar Street Complex | 2 Bedroom | 2BR,1BA | $1.56 |
| Sebeka Housing | Riverview 2 Bedroom | 2BR,1BA | $1.24 |
| Parkview Housing | 1 Bedroom | 1BR,1BA | $1.36 |
| Pine Tree Housing Corp. | 2 Bed | 2BR,2BA | $1.13 |
| Deering Manor - Section 8: 62+ ,Handicapped, | Deering Manor, 1 bed, 1 bath. | 1BR,1BA | $1.58 |
| White House and Blair House | Blair House Single Bedroom | 1BR,1BA | $1.25 |
| Stony Ridge Studios | Studios | Studio ,1BA | $1.57 |
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 ArticleThe 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.
Read ArticleCash 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.
Read ArticleQuick Rent Budget Calculator
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Remember the 3 Rules of Real Estate:Location, Location, Location!
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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 $580 at Pine Tree Housing Corp..
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 $694 at Pine Tree Housing Corp..
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

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.

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.

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.

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.