5139 160th St SE
Prior LakeMN55372
Cheap Apartments for Rent in the Downtown Prior Lake Neighborhood of Prior Lake, MN from $900 (20 Rentals)
Search the lowest-cost Apartments available for rent right now in the Downtown Prior Lake area of Prior Lake.
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Rent Specials
$1,065 - $1,160
Plus Fees
Studio Apartments Available NowParkwood Apartments
5160-5200 160th St SEPrior Lake, MN 55372
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$1,200
Total Monthly Price12 Month Lease Term
1 Bedroom Apartment Available NowTotal Monthly Price
Base Rent
$1,200
Total Monthly Price
$1,200
17073 Adelmann St SE
17073 Adelmann St SEPrior Lake, MN 55372
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$1,287 - $1,750
Plus Fees12 Month Lease Term
2 to 3 Bedroom Apartments Available NowKestrel Village Apartments
16650 Brunswick AvePrior Lake, MN 55372
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$1,294 - $1,749
Total Monthly Price12 Month Lease Term
Studio to 2 Bedroom Apartments Available Jul 20Total Monthly Price
Base Rent
$1,195 - $1,650
Required Monthly Fees
$99
Total Monthly Price
$1,294 - $1,749
Creekside Commons Apartments
16535 Tranquility Ct SEPrior Lake, MN 55372
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$1,395
Plus Fees
1 Bedroom Apartments Contact Us For AvailabilityHearthwood Apartments
16516 Franklin Trl SEPrior Lake, MN 55372
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.
16704 Brunswick Ave SE
Prior LakeMN55372
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$1,413 - $1,972
Total Monthly Price12 Month Lease Term
1 to 3 Bedroom Apartments Available NowTotal Monthly Price
Base Rent
$1,413 - $1,972
Total Monthly Price
$1,413 - $1,972
The Grainwood Senior Apartments
5119 Gateway St SEPrior Lake, MN 55372
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$1,480 - $2,252
Total Monthly Price
1 to 2 Bedroom Apartments Available NowTotal Monthly Price
Base Rent
$1,480 - $2,252
Total Monthly Price
Varies
Jeffers Waterfront Apartments
3800 Jeffers Pky NWPrior Lake, MN 55372
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$1,495 - $2,050
Plus Fees
2 to 3 Bedroom Apartments Available NowThe Village at Five Hawks
16611-16635 Five Hawks Ave SEPrior Lake, MN 55372
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$1,599
Plus Fees12 Month Lease Term
2 Bedroom Apartments Available NowCourtwood Village I
17092 Adelmann St SEPrior Lake, MN 55372
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$1,629 - $1,659
Plus Fees12 Month Lease Term
2 Bedroom Apartments Available NowCourtwood Village 2
17088 Adelmann St SEPrior Lake, MN 55372
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.
16650 Brunswick Ave SE
Prior LakeMN55372
16477 Timber Crest Dr SE
Prior LakeMN55372
4175 Quaker Trail NE
Prior LakeMN55372
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1 to 2 Bedroom Apartments
McKenna Crossing (Senior 65+)
13810 Shepherds Path NWPrior Lake, MN 55379
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1 to 2 Bedroom Apartments
5114 Memorial Trl SE
5114 Memorial Trl SEPrior Lake, MN 55372
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1 to 2 Bedroom Apartments
Brooksville
16829 Toronto Ave SEPrior Lake, MN 55372
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.
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Studio to 2 Bedroom Apartments
Lake Ridge Apartments
13854 McKenna Rd NWPrior Lake, MN 55379
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1 to 3 Bedroom Apartments
Pike Lake Marsh
4489 Marsh Dr NEPrior Lake, MN 55372
Showing Results 1-20, Page 1 of 1
Downtown Prior Lake, Prior Lake, MN Local Guide
Sunset Prior Lake by Laura is licensed under CC BY 2.0
How much does it cost to rent an apartment in Downtown Prior Lake?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Downtown Prior Lake Studio Apartments | $1,203 | $1,065 | $1,294 |
| Downtown Prior Lake 1 Bedroom Apartments | $1,612 | $1,200 | $1,950 |
| Downtown Prior Lake 2 Bedroom Apartments | $1,583 | $1,395 | $2,252 |
| Downtown Prior Lake 3 Bedroom Apartments | $1,771 | $1,650 | $2,050 |
Note: Properties with the Total Monthly Price badge include all required fees. Hover over the badge for details.
Browse Apartments in this Neighborhood
There are currently 20 rentals with your search options within a 2 mile radius of the Downtown Prior Lake Neighborhood of Prior Lake, MN.
See all Apartments in Prior LakeExplore Prior Lake
Downtown Prior Lake, Prior Lake, MN Local Guide
- Nearby Prior Lake neighborhoods
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Cheapest Available Downtown Prior Lake Apartments for Rent
The cheapest available apartment rental in the Downtown Prior Lake area of Minneapolis, MN is a Studio unit found at Parkwood Apartments priced from $1,065. Kestrel Village Apartments has the second lowest priced unit, which is a 2 Beds apartment currently listed from $1,287. Here are the most affordable Downtown Prior Lake apartments for rent in Minneapolis, MN:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Parkwood Apartments | 1 and 2 bed | Studio, | $1,065 |
| Kestrel Village Apartments | 2 bed 1 bath | 2BR,1BA | $1,287 |
| The Grainwood Senior Apartments | One Bedroom - B | 1BR,1BA | $1,413 |
| Jeffers Waterfront Apartments | The Cabin | 1BR,1BA | $1,480 |
| The Village at Five Hawks | 2BR/1.0BA | 2BR,1BA | $1,495 |
Best Value Apartments for Rent in Downtown Prior Lake, MN
As of July 16, 2026 the best value apartment in the Downtown Prior Lake area is the $1.47 price per square foot 3 bed 2 bath Model at Kestrel Village Apartments in the in the Downtown Prior Lake neighborhood starting from $1,650. The second greatest value Downtown Prior Lake apartment is the 2 Bed/ 2 Bath Model at Courtwood Village 2 starting at $1,659 with a $1.74 price per square foot in the Downtown Prior Lake neighborhood. Here is today’s list of the best values for Downtown Prior Lake apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Kestrel Village Apartments | 3 bed 2 bath | 3BR,2BA | $1.47 |
| Courtwood Village 2 | 2 Bed/ 2 Bath | 2BR,2BA | $1.74 |
| Courtwood Village I | 2 Bed/1 Bath Model B | 2BR,1BA | $1.70 |
| The Village at Five Hawks | 2BR/1.0BA | 2BR,1BA | $1.71 |
| The Grainwood Senior Apartments | One Bedroom - B | 1BR,1BA | $1.84 |
| 17073 Adelmann St SE | 17073 Adelmann St SE | 1BR,1BA | $1.60 |
| Jeffers Waterfront Apartments | The Cabin | 1BR,1BA | $2.27 |
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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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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Pet Friendly LifestyleDowntown Prior Lake, Prior Lake, MN
Ranked #1
Among cities in Minnesota for Apartment listings with Pet Friendly Amenities.
Pet Friendliness Lifestyle Score
4.0Pet Friendly
Frequently Asked Questions about Cheap Downtown Prior Lake Apartments
What is the price of a cheap apartment in Downtown Prior Lake?
The cheapest apartment in Downtown Prior Lake is The Grainwood Senior Apartments which is listed at $1,413, while the average apartment in Downtown Prior Lake costs $1,700.
What types of apartments are the cheapest in Downtown Prior Lake?
Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 9 regular apartments in Downtown Prior Lake that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.
How do the prices of cheap apartments compare to the average apartment in Downtown Prior Lake?
Cheap apartments in Downtown Prior Lake have an average cost of $456 which is $1,244 cheaper than the average rent for all rentals in Downtown Prior Lake.
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.
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