Cheap Apartments for Rent near Thompson, IA from $400 (47 Rentals)

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Search the lowest-cost Apartments available for rent right now in Thompson.

Rent According to Income: A Look at Income-Restricted Rentals

Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.

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Highland Hills Apartments
$855 - $1,980
Total Monthly Price12 Month Lease Term

Total Monthly Price

Base Rent
$855 - $1,980
Total Monthly Price
$855 - $1,980
1 to 5 Bedroom Apartments Available Now

Highland Hills Apartments

1340 Warren StMankato, MN 56001
Active Lifestyle
  • Verified
  • Customer Reviewed
  • Utilities Included
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Northern Place Apartments
Rent Specials
$875 - $1,350
Total Monthly Price

Total Monthly Price

Base Rent
$795 - $1,270
Required Monthly Fees
$80
Total Monthly Price
$875 - $1,350
2 to 3 Bedroom Apartments Available Aug 14

Northern Place Apartments

203 SW 31st StAustin, MN 55912
  • Verified
  • Utilities Included
  • Smoke Free

Renters Insurance 101: What It Is, What It Covers, and Why You Need It

From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.

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The Grove at Mankato
$970 - $1,829
Total Monthly Price11 Month Lease Term

Total Monthly Price

Base Rent
$940 - $1,799
Required Monthly Fees
$30
Total Monthly Price
$970 - $1,829
1 to 3 Bedroom Apartments Available Now

The Grove at Mankato

200 Briargate RdMankato, MN 56001
Student Housing
  • Verified
  • Customer Reviewed
  • 3D Tour

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.

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The Edge Apartments
Rent Specials
$1,080 - $1,330
Total Monthly Price12 Month Lease Term

Total Monthly Price

Base Rent
$1,050 - $1,300
Required Monthly Fees
$30
Total Monthly Price
$1,080 - $1,330
1 to 2 Bedroom Apartments Available Now

The Edge Apartments

1902 Warren StMankato, MN 56001
Outdoors
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  • Customer Reviewed
  • Utilities Included
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Shalom Tower II
1 Bedroom Apartments

Shalom Tower II

321 4th St NEMason City, IA 50401
Senior Living
  • Utilities Included
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Rolfe 20-Unit
1 to 2 Bedroom Apartments

Rolfe 20-Unit

1106-1108 Elm StRolfe, IA 50581

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.

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property at 109 4th Ave SE

$650

Total Monthly Price

Total Monthly Price

Base Rent
$650
Total Monthly Price
$650

1 Bedroom, 1 Bath Home for Rent

Available Now

109 4th Ave SE

MapletonMN56065
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The Manor
1 to 2 Bedroom Apartments

The Manor

4 3rd St NWMason City, IA 50401
Senior Living
property at 1506 7th St SE

$900

Total Monthly Price12 Month Lease Term

Total Monthly Price

Base Rent
$900
Total Monthly Price
$900

1 Bedroom, 1 Bath Home for Rent

Available Now

1506 7th St SE

AustinMN55912
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Grant Village
1 Bedroom Apartments

Grant Village

815-843 6th St SWMason City, IA 50401
Senior Living
  • Utilities Included
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201 Pilgrim St
1 to 2 Bedroom Apartments

201 Pilgrim St

201 Pilgrim StSaint Clair, MN 56080
  • Utilities Included

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.

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property at 302 19th St NE

$1,095

Total Monthly Price

Total Monthly Price

Base Rent
$1,095
Total Monthly Price
$1,095

2 Bedroom, 1 Bath Home for Rent

Available Now

302 19th St NE

AustinMN55912
Showing Results 1-47, Page 1 of 1

Thompson, IA Local Guide

Cheapest Available Thompson Apartments for Rent and Nearby

 

The cheapest available apartment rental in Thompson, IA is a 1 Bed unit found at Burt 18-Unit (Countryside Properties) priced from $425. Rolfe 20-Unit has the second lowest priced unit, which is a 1 Bed apartment currently listed from $495. Here is today’s list of the most affordable Thompson apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Burt 18-Unit (Countryside Properties)1 Bedroom1BR,1BA$425
Rolfe 20-Unit1 Bedroom1BR,1BA$495
Key ApartmentsEfficiencyStudio,1BA$500
18 S Adams AveOne Bedroom1BR,1BA$525
Key West ApartmentsStudioStudio,1BA$550
501 W 1st St S2 BED/1 BATH2BR,1BA$600
Eytcheson Estates Sherburn2 Bedroom2BR,1BA$701
Eytcheson Estates Welcome1 Bedroom2BR,1BA$701
A-Lea ApartmentsB and C Buildings1BR,1BA$725
Skye Lofts Apartments1 Bedroom Unit1BR,1BA$790

Best Value Apartments for Rent in Thompson, IA and Nearby

As of July 25, 2026 the best value apartment in the Thompson area is the $1.09 price per square foot 2 Bedroom Loft Model at Skye Lofts Apartments in the starting from $1,490. The second greatest value Thompson apartment is the 2 Bedroom 1 Bathroom Model at The Meadows starting at $1,225 with a $1.28 price per square foot . Here is today’s list of the best values for Thompson apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Skye Lofts Apartments2 Bedroom Loft2BR,1.5BA$1.09
The Meadows2 Bedroom 1 Bathroom2BR,1BA$1.28
Kee Valley Apartments2 Beds, 1 bath2BR,1BA$1.14
CityView Apartments2 Bed / 1 Bath2BR,1BA$1.10
Eytcheson Estates Sherburn2 Bedroom2BR,1BA$0.93
Eytcheson Estates Welcome1 Bedroom2BR,1BA$0.93
Cypress Pointe Emmetsburg2 Bedroom2BR,1BA$1.28
501 W 1st St S1 BED/1 BATH1BR,1BA$0.84
Rolfe 20-Unit2 Bedroom2BR,1BA$0.97
18 S Adams AveOne Bedroom1BR,1BA$0.95

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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Quick Rent Budget Calculator

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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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Remember the 3 Rules of Real Estate:
Location, Location, Location!

Explore Thompson, IA Rentals by Map

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See the most popular apartments and homes in Thompson, IA

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Frequently Asked Questions about Cheap Thompson Apartments

What is the Cheapest Studio apartment in Thompson?

Currently the most affordable Cheap Studio Apartment in Thompson is at Key Apartments listed at $500.

How much is rent for a Cheap One Bedroom Thompson Apartment?

The lowest price for a Cheap One Bedroom Thompson Apartment is $425 at Burt 18-Unit (Countryside Properties).

What is the lowest price for a Cheap Two Bedroom Thompson Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Thompson is starting from $595 at Rolfe 20-Unit.

What is the most affordable Thompson Three Bedroom Apartment?

The best deal on a cheap Thompson Three Bedroom Apartment rental is at Cedar Meadow Apartments and starts from $1,299.

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

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Rent According to Income: A Look at Income-Restricted Rentals

Written by: Robin Stewart

The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.

decorative image for Renters Insurance 101: What It Is, What It Covers, and Why You Need It article

Renters Insurance 101: What It Is, What It Covers, and Why You Need It

Written by: Robin Stewart

Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.

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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.

decorative image for How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide article

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.