
Cheap Apartments for Rent in Preston, MN from $400 (31 Rentals)
Search the lowest-cost Apartments available for rent right now in Preston.


Clover Patch Apartments

Country Valley

Total Monthly Price
The Graham

Eastwood Manor

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The Ida

Scenic View Townhomes
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.

Total Monthly Price
Civic Square Apartments

Cottages of Stewartville

Homestead Village Townhomes

Total Monthly Price
Meadow Park Apartments

EastGate Apartments

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5th on 5th Apartments

STEWARTVILLE FLATS
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.

The HUE

Eastwood Ridge

Total Monthly Price
Residence at Discovery Square

The Vista at South Broadway

TwentyFirst Ave

Total Monthly Price
The Manor at Med City

501 on First
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.

121 Main St S

1017 21st St SE

Chester Estates

The Beacon

1503 4th Ave SE

28 6th Ave SE

1513 2nd St NE
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.

2094 11th Ave SE

819 6th Ave SE

1732 2nd Ave SE
Preston, MN Local Guide

How much does it cost to rent an apartment in Preston?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Preston Studio Apartments | $1,550 | $450 | $1,945 |
| Preston 1 Bedroom Apartments | $1,687 | $834 | $2,705 |
| Preston 2 Bedroom Apartments | $2,134 | $895 | $3,695 |
| Preston 3 Bedroom Apartments | $2,354 | $895 | $3,887 |
| Preston 4 Bedroom Apartments | $1,616 | $1,575 | $1,950 |
Browse Top Apartments in Preston
See all Apartments in PrestonExplore Preston
Preston, MN Local Guide
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Cheapest Available Preston Apartments for Rent and Nearby
 The cheapest available apartment rental in Preston, MN is a 1 Bed unit found at 105 Main St S priced from $675. Clover Patch Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $815. Here is today’s list of the most affordable Preston apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| 105 Main St S | 1-bedroom | 1BR,1BA | $675 |
| Clover Patch Apartments | One Bedroom | 1BR,1BA | $815 |
| Homestead Village Townhomes | 2 Bedroom 1 Bathroom | 2BR,1BA | $1,125 |
| Meadow Park Apartments | Modern One Bedroom | 1BR,1BA | $1,150 |
| The Ida | Unfurnished 1B1B | 1BR,1BA | $1,200 |
| Residence at Discovery Square | Industrial Flat - Alcove | Studio,1BA | $1,325 |
| The Manor at Med City | 1 Bedroom - Deluxe | 1BR,1BA | $1,360 |
| Riverwalk Rochester | A-3 | 1BR,1BA | $1,487 |
| Civic Square Apartments | Two Bedroom - 855 Sq. Ft. | 2BR,2BA | $1,510 |
| The Quarters | 4 Bedroom A | 4BR,2BA | $1,575 |
Best Value Apartments for Rent in Preston, MN and Nearby
As of June 21, 2026 the best value apartment in the Preston area is the $1.57 price per square foot 3 Bed, 2.5 Bath Model at Falcon Heights Townhomes in the in the East Rochester neighborhood starting from $2,200. The second greatest value Preston apartment is the 4BR/2.5BA Model at 318 Commons starting at $1,950 with a $1.50 price per square foot in the Meadow Park neighborhood. Here is today’s list of the best values for Preston apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Falcon Heights Townhomes | 3 Bed, 2.5 Bath | 3BR,2.5BA | $1.57 |
| 318 Commons | 4BR/2.5BA | 4BR,2.5BA | $1.50 |
| The Quarters | 4 Bedroom A | 4BR,2BA | $1.27 |
| Avani Living | Two Bedroom A | 2BR,2BA | $1.65 |
| Civic Square Apartments | Two Bedroom - 855 Sq. Ft. | 2BR,2BA | $1.77 |
| Homestead Village Townhomes | 2 Bedroom 1 Bathroom | 2BR,1BA | $1.36 |
| SoRoc on Maine | Birchcrest | 1BR,1BA | $2.11 |
| The Ida | Unfurnished 1B1B | 1BR,1BA | $1.85 |
| 105 Main St S | 1-bedroom | 1BR,1BA | $1.23 |
| Clover Patch Apartments | One Bedroom | 1BR,1BA | $1.52 |
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.
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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.
Remember the 3 Rules of Real Estate:Location, Location, Location!
Explore Preston, MN Rentals by Map
See the most popular apartments and homes in Preston, MN
Frequently Asked Questions about Cheap Preston Apartments
What is the Cheapest Studio apartment in Preston?
Currently the most affordable Cheap Studio Apartment in Preston is at Residence at Discovery Square listed at $1,325.
How much is rent for a Cheap One Bedroom Preston Apartment?
The lowest price for a Cheap One Bedroom Preston Apartment is $675 at 105 Main St S.
What is the lowest price for a Cheap Two Bedroom Preston Apartment for rent?
Today's best deal for a Cheap Two Bedroom Apartment in Preston is starting from $1,125 at Homestead Village Townhomes.
What is the most affordable Preston Three Bedroom Apartment?
The best deal on a cheap Preston Three Bedroom Apartment rental is at Homestead Village Townhomes and starts from $1,325.
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.