Cheap Apartments for Rent in Underwood, MN from $400 (66 Rentals)

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

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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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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Pheasant Run Apartments
$969 - $1,394
Total Monthly Price

Total Monthly Price

Base Rent
$950 - $1,375
Required Monthly Fees
$19
Total Monthly Price
$969 - $1,394
1 to 3 Bedroom Apartments Available May 16, 2099

Pheasant Run Apartments

825 34th Ave EAlexandria, MN 56308
Family Friendly
  • Verified
  • Customer Reviewed
  • Utilities Included

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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Silver Birch
1 to 2 Bedroom Apartments

Silver Birch

303 Washington AveDetroit Lakes, MN 56501
Senior Living
  • Utilities Included
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Page House
1 Bedroom Apartments

Page House

221 E Cavour AveFergus Falls, MN 56537
  • Utilities Included
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Osakis Community Manor
1 to 2 Bedroom Apartments

Osakis Community Manor

480 W Main StOsakis, MN 56360
Senior Living
  • Utilities Included

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.

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Silverleaf Apartments
1 Bedroom Apartments

Silverleaf Apartments

124 E Summit AveFergus Falls, MN 56537
  • Utilities Included
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Goldenwood
1 to 2 Bedroom Apartments

Goldenwood

1145 Friberg AveFergus Falls, MN 56537
Senior Living
  • Utilities Included
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Carolina Village
1 to 2 Bedroom Apartments

Carolina Village

511 Carolina AveHoffman, MN 56339
  • Utilities Included
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Marigold Apartments
1 Bedroom Apartments

Marigold Apartments

110 Union St EDetroit Lakes, MN 56501
Senior Living
  • Utilities Included
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Del Rose Apartments
1 to 2 Bedroom Apartments

Del Rose Apartments

504 3rd Ave NWahpeton, ND 58075
  • Utilities Included
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503 6th St N
1 Bedroom Apartments

503 6th St N

503 6th St NWahpeton, ND 58075
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Finlandia Apartments
1 Bedroom Apartments

Finlandia Apartments

107 Edgewood StNew York Mills, MN 56567
  • Utilities Included
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Village Green Apartments
1 Bedroom Apartments

Village Green Apartments

101 Thompson StVerndale, MN 56481
Senior Living
  • Utilities Included

The Art of the Rental Viewing: What to look for during a property tour

Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

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Showing Results 1-50, Page 1 of 2

Underwood, MN Local Guide

Cheapest Available Underwood Apartments for Rent and Nearby

 

The cheapest available apartment rental in Underwood, MN is a 1 Bed unit found at Heritage Square priced from $575. Liberty Lights Apartments has the second lowest priced unit, which is a Studio apartment currently listed from $599. Here is today’s list of the most affordable Underwood apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Heritage Square1 Bed, 1 bath1BR,1BA$575
Liberty Lights ApartmentsStudioStudio,1BA$599
Western Road Apartments2 Bedroom 1 Bath - 482412BR,1BA$675
Riverside Apartments911 studiosStudio,1BA$695
North Valley ApartmentsEfficiencyStudio,1BA$700
Pelican Rapids Townhomes2 Bedroom2BR,1BA$785
Center Street ApartmentsWahp 2 bed2BR,1BA$795
Twenty08 ApartmentsA.1 TIFStudio,1BA$820
Cascade ApartmentsOne Bedroom1BR,1BA$898
Spruce Place Apartments2 Bedroom | Laurel Place2BR,1BA$900

Best Value Apartments for Rent in Underwood, MN and Nearby

As of May 28, 2026 the best value apartment in the Underwood area is the $0.56 price per square foot 3 Bedroom Model at Pelican Rapids Townhomes in the starting from $885. The second greatest value Underwood apartment is the Mason Model at JP Place starting at $1,525 with a $1.31 price per square foot . Here is today’s list of the best values for Underwood apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Pelican Rapids Townhomes3 Bedroom3BR,1BA$0.56
JP PlaceMason3BR,2BA$1.31
Campus View Historic Apartments2 Beds, 1 Baths2BR,1BA$1.19
Westdale Apartments2 Bedroom 2 Bathroom2BR,2BA$1.17
Spruce Place Apartments2 Bedroom | Laurel Place2BR,1BA$1.01
Runestone Grand Apartments2 Bedroom2BR,1BA$1.07
East Side Stories Apartments2 bed2BR,1BA$1.17
Center Street ApartmentsWahp 2 bed2BR,1BA$0.99
Western Road Apartments2 Bedroom 1 Bath - 482412BR,1BA$0.91
Cascade ApartmentsOne Bedroom1BR,1BA$1.33

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

Explore Underwood, MN Rentals by Map

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See the most popular apartments and homes in Underwood, MN

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Frequently Asked Questions about Cheap Underwood Apartments

What is the Cheapest Studio apartment in Underwood?

Currently the most affordable Cheap Studio Apartment in Underwood is at Liberty Lights Apartments listed at $599.

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

The lowest price for a Cheap One Bedroom Underwood Apartment is $575 at Heritage Square.

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

Today's best deal for a Cheap Two Bedroom Apartment in Underwood is starting from $675 at Western Road Apartments.

What is the most affordable Underwood Three Bedroom Apartment?

The best deal on a cheap Underwood Three Bedroom Apartment rental is at Pelican Rapids Townhomes and starts from $885.

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

decorative image for A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back article

A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back

Written by: Lauren Harrington

I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.

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Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts

Written by: Lauren Harrington

This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.

decorative image for What Does “Rent Burdened” Mean? How Much Rent Is Too Much article

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Written by: Lauren Harrington

This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.

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Maximizing Your Refund: Essential Tax Tips for Renters

Written by: Christine Leonard, Esq.

Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.