
Cheap Apartments for Rent in St. Peter, MN from $500 (41 Rentals)
Search the lowest-cost Apartments available for rent right now in St. Peter.


Rock Ridge Apartments

Vista View Townhomes

Traverse Green

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RoK Lofts

Welco West

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804 4th S St, Unit Apt 3

Capital Lofts
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.

Maplewood Apartments

The Bungalows

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Highland Hills Apartments

Glenwood Terrace

Hillcrest Apartments

Le Sueur Apartments

Village Place Apartments of Mankato

Tiller+Main
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.

Village Court Apartments

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Hoover Estates

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Woodside Apartments

Greenfield Estates I & II

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The Edge Apartments

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River Bluff Apartments

Southwood Flats

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Augusta Park Estates
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.

Total Monthly Price
Legacy Park Estates

Dublin Road Townhomes

The Forde

Village Place Flats

Cedar Meadow Apartments

Riverfront Court

Lewis Lofts

Hillside Court
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.

305 S Broadway St

412 N Cedar St

325 E Washington St

Le Sueur Meadows

815 N 4th St

1611 5th Ave

Northgate Townhomes

730 N Broad St
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.

Haughton Estates
St. Peter, MN Local Guide

How much does it cost to rent an apartment in St. Peter?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| St. Peter Studio Apartments | $1,042 | $750 | $1,315 |
| St. Peter 1 Bedroom Apartments | $1,344 | $855 | $2,120 |
| St. Peter 2 Bedroom Apartments | $1,549 | $985 | $2,370 |
| St. Peter 3 Bedroom Apartments | $1,794 | $1,155 | $2,794 |
| St. Peter 4 Bedroom Apartments | $1,880 | $1,780 | $1,980 |
Browse Top Apartments in St. Peter
See all Apartments in St. PeterExplore St. Peter
St. Peter, MN Local Guide
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Cheapest Available St. Peter Apartments for Rent and Nearby
 The cheapest available apartment rental in St. Peter, MN is a 1 Bed unit found at Lewis Lofts in the University neighborhood priced from $855. Hillcrest Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $895. Here is today’s list of the most affordable St. Peter apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Lewis Lofts | 1a1t | 1BR,1BA | $855 |
| Hillcrest Apartments | 1BD/1BA | 1BR,1BA | $895 |
| Le Sueur Apartments | 1 Bedroom | 1BR,1BA | $895 |
| Tiller+Main | Studio | Studio,1BA | $900 |
| Village Place Apartments of Mankato | One Bedroom | 1BR,1BA | $900 |
| Village Court Apartments | 1 Bed, 1 Bath (original) | 1BR,1BA | $928 |
| Hoover Estates | 2/1 | 2BR,1BA | $1,065 |
| Greenfield Estates I & II | Waiting List - 1 Bedroom | 1BR,1BA | $1,075 |
| The Edge Apartments | One Bedroom | 1BR,1BA | $1,080 |
| River Bluff Apartments | Two Bedroom | 2BR,1BA | $1,100 |
Best Value Apartments for Rent in St. Peter, MN and Nearby
As of June 14, 2026 the best value apartment in the St. Peter area is the $1.13 price per square foot Fox Run Townhomes Model at Fox Run Townhomes in the in the City Center Mankato neighborhood starting from $1,995. The second greatest value St. Peter apartment is the Two Bedroom One Half Bathroom Model at Sibley Village Townhomes starting at $1,575 with a $1.16 price per square foot in the University neighborhood. Here is today’s list of the best values for St. Peter apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Fox Run Townhomes | Fox Run Townhomes | 2BR,2.5BA | $1.13 |
| Sibley Village Townhomes | Two Bedroom One Half Bathroom | 2BR,1.5BA | $1.16 |
| Vista View Townhomes | 3 Bedroom Townhouse | 3BR,1.5BA | $1.08 |
| Rock Ridge Apartments | 2 Bedroom 1 Bath | 2BR,1BA | $1.14 |
| Cedar Meadow Apartments | 3BR | 3BR,1BA | $1.40 |
| The Edge Apartments | One Bedroom | 1BR,1BA | $1.39 |
| Hoover Estates | 2/1 | 2BR,1BA | $1.41 |
| Village Court Apartments | 1 Bed, 1 Bath (renovated) | 1BR,1BA | $1.41 |
| Village Place Apartments of Mankato | One Bedroom | 1BR,1BA | $1.27 |
| Lewis Lofts | 1a1t | 1BR,1BA | $1.38 |
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.
Best Local Schools in St. Peter, MN
St. Peter Senior High School
School data provided by Great Schools
Remember the 3 Rules of Real Estate:Location, Location, Location!
Explore St. Peter, MN Rentals by Map
See the most popular apartments and homes in St. Peter, MN
Frequently Asked Questions about Cheap St. Peter Apartments
What is the Cheapest Studio apartment in St. Peter?
Currently the most affordable Cheap Studio Apartment in St. Peter is at Tiller+Main listed at $900.
How much is rent for a Cheap One Bedroom St. Peter Apartment?
The lowest price for a Cheap One Bedroom St. Peter Apartment is $855 at Lewis Lofts.
What is the lowest price for a Cheap Two Bedroom St. Peter Apartment for rent?
Today's best deal for a Cheap Two Bedroom Apartment in St. Peter is starting from $995 at Hillcrest Apartments.
What is the most affordable St. Peter Three Bedroom Apartment?
The best deal on a cheap St. Peter Three Bedroom Apartment rental is at Vista View Townhomes and starts from $1,297.
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

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.

Neighborhood and Market Insights: How to Choose the Right Area to Rent
Written by: Robin Stewart
Apartment-hunting can be a gargantuan task. Renters have a wish list of items—some luxuries, some necessities—but finding what you seek in the right place is perhaps the most important part of the journey.