
Cheap Apartments for Rent in Pennington, MN from $400 (44 Rentals)
Search the lowest-cost Apartments available for rent right now in Pennington.


1022 Comstock Dr

White House and Blair House

Silverwood Apartments

McCarthy Apartments

Canal Apartments

212 NE 3rd Ave

Presidential Estates/ Justice 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.

Stony Ridge Studios

Parkview Housing

Total Monthly Price
Capitol Hill Studios

Sunridge Apartments

Gatewood Park

Deering Manor - Section 8: 62+ ,Handicapped,

Pelican Heights Apartments

Meadows Edge Apartments
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.

Timber Ridge Apartments

Riverview Apartments

207 25th St NW

Total Monthly Price
Cedar Pointe Estates Apartments

1418 Irvine Ave NW, Unit C

Regency Park North

River Hills Apartments

4945 Jackpine Rd NW
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.

Cedar Street Complex

Total Monthly Price
Regency Park South

223 3rd St NW

301 15th St NW

2403 Calihan Ave NE

The Villas at Vista North

112 SW 21st St

210 North St E
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.

2305 Ash Ave Nw, Unit 2305A

Silver Birch

Marigold Apartments

Sebeka Housing

Park Rapids Apartments

Condor Apartments - Section 8 community

608 Pleasant Ave S

315 Park Lake Blvd
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.

JP Place

136 Robertson Dr NW

104 Lake Shore Dr NE

1007 Dewey Ave NE
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 | $917 | $800 | $1,050 |
| Pennington 1 Bedroom Apartments | $1,196 | $580 | $1,850 |
| Pennington 2 Bedroom Apartments | $1,509 | $694 | $2,500 |
| Pennington 3 Bedroom Apartments | $1,294 | $1,100 | $1,375 |
| 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 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 |
| Silverwood Apartments | 1 Bedroom | 1BR,1BA | $793 |
| Canal Apartments | Efficiency | Studio,1BA | $800 |
| Stony Ridge Studios | Studios | Studio,1BA | $825 |
| Presidential Estates/ Justice Apartments | Studio | Studio,1BA | $825 |
| Deering Manor - Section 8: 62+ ,Handicapped, | Deering Manor, 1 bed, 1 bath. | 1BR,1BA | $927 |
| Riverview Apartments | TIF - Unit A - Studio | Studio,1BA | $995 |
| Cedar Pointe Estates Apartments | 2 Bedroom / 1 Bathroom Std | 2BR,1BA | $1,045 |
Best Value Apartments for Rent in Pennington, MN and Nearby
As of June 22, 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 / 1 Bathroom Std Model at Cedar Pointe Estates Apartments starting at $1,045 with a $1.27 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 |
| Cedar Pointe Estates Apartments | 2 Bedroom / 1 Bathroom Std | 2BR,1BA | $1.27 |
| Cedar Street Complex | 2 Bedroom | 2BR,1BA | $1.56 |
| Silverwood Apartments | 1 Bedroom | 1BR,1BA | $1.22 |
| 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 |
| Presidential Estates/ Justice Apartments | Studio | Studio ,1BA | $1.65 |
| Canal Apartments | Efficiency | Studio ,1BA | $1.78 |
| Stony Ridge Studios | Studios | Studio ,1BA | $2.06 |
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 $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

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.

How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide
Written by: Robin Stewart
Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.

Pet-Friendly Renting: Everything You Need to Know Before You Move
Written by: Christine Leonard, Esq.
For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.

Creative Ways Developers Reimagine Retail Spaces as Residential Units
Written by: Robin Stewart
Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.