Cheap Apartments for Rent in Underwood, MN from $400 (26 Rentals)
Search the lowest-cost Apartments available for rent right now in Underwood.

McKay Apartments

Liberty Lights Apartments

Riverside Apartments

Colonial Village Apartments
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.

Meadowbrook Apartments

Spruce Place Apartments

Center Street Apartments
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.
Smart Renter's Guide: Calculating Affordable Rent & Housing Costs
Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.
Navigating the Rental Market: Tips for First-Time Renters
Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.
Underwood, MN Local Guide

How much does it cost to rent an apartment in Underwood?
Bedroom | Average Rent | Cheapest Rent | Highest Rent |
---|---|---|---|
Underwood Studio Apartments | $908 | $600 | $1,095 |
Underwood 1 Bedroom Apartments | $1,082 | $575 | $1,855 |
Underwood 2 Bedroom Apartments | $1,224 | $749 | $2,195 |
Underwood 3 Bedroom Apartments | $1,306 | $795 | $1,795 |
Underwood 4 Bedroom Apartments | $1,630 | $1,245 | $1,850 |
Browse Top Apartments in Underwood
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Underwood, MN Local Guide
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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 1 Bed apartment currently listed from $639. Here is today’s list of the most affordable Underwood apartments for rent:
Apartment Listing | Model Name | Bed/Bath | Priced From |
---|---|---|---|
Heritage Square | 1 Bed, 1 bath | 1BR,1BA | $575 |
Liberty Lights Apartments | 1 Bedroom | 1BR,1BA | $639 |
Center Street Apartments | Wahp 2 bed | 2BR,1BA | $795 |
10th Avenue Apartments | 1964 - Studio/1 BA | Studio,1BA | $850 |
The Colony | Dove | 1BR,1BA | $971 |
The Crossings Apartments | 418 1 bed | 1BR,1BA | $995 |
Lincoln Apartments | Lincoln Apartments | 2BR,1BA | $995 |
Oak Knoll Complex | 2 Bed | 2BR,1BA | $1,025 |
Blue Eagle Townhomes | Three Bedroom | 3BR,2BA | $1,100 |
South Point Apartments | 1 bedroom 1 bathroom | 1BR,1BA | $1,205 |
Best Value Apartments for Rent in Underwood, MN and Nearby
As of June 10, 2025 the best value apartment in the Underwood area is the $1.10 price per square foot 3B2B - CONTACT FOR AVAILABILITY Model at Pheasant Run Apartments in the starting from $1,325. The second greatest value Underwood apartment is the Three Bedroom Model at Blue Eagle Townhomes starting at $1,100 with a $1.05 price per square foot . Here is today’s list of the best values for Underwood apartments based on price per square foot:
Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
---|---|---|---|
Pheasant Run Apartments | 3B2B - CONTACT FOR AVAILABILITY | 3BR,2BA | $1.10 |
Blue Eagle Townhomes | Three Bedroom | 3BR,2BA | $1.05 |
Granite Manor/Runestone | Two bedroom/ 1 3/4 Bath | 2BR,1.5BA | $1.41 |
Hatchery Row | One Bedroom/ One Bathroom | 1BR,1BA | $1.56 |
Oak Knoll Complex | 2 Bed | 2BR,1BA | $1.14 |
Center Street Apartments | Wahp 2 bed | 2BR,1BA | $0.99 |
Central Lakes | B.4 (Plus Den) | 1BR,1BA | $1.56 |
The Colony | Dove | 1BR,1BA | $1.27 |
South Point Apartments | 1 bedroom 1 bathroom | 1BR,1BA | $1.59 |
Liberty Lights Apartments | 1 Bedroom | 1BR,1BA | $1.22 |
Quick Rent Budget Calculator
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Getting Around Underwood, MN
Walk Score®
4 / 100
Car-Dependent
Almost all errands require a car
Bike Score®
23 / 100
Somewhat Bikeable
Minimal bike infrastructure
What Are Walk Score®, Transit Score®, and Bike Score® Ratings?
- Walk Score® measures the walkability of any address.
- Transit Score® measures access to public transit.
- Bike Score® measures the bikeability of any address.
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 10th Avenue Apartments listed at $950.
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 $795 at Center Street Apartments.
What is the most affordable Underwood Three Bedroom Apartment?
The best deal on a cheap Underwood Three Bedroom Apartment rental is at Liberty Lights Apartments and starts from $795.
Expert Rental Resources
Helpful Apartment Articles, How-To's and Tips
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.

The Art of the Rental Viewing: What to look for during a property tour
Written by: Marie Brown
You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.

Know Your Budget: Calculating What You Can Realistically Afford When Renting
Written by: Lauren Harrington
Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.

The Freedom of Short-Term Leases: Exploring the Advantages for Renters
Written by: Bobbi Jackson
If you’re looking to relocate right now, a popular solution that may best fit your current rental needs is a short-term lease.

Navigating the Rental Market: Tips for First-Time Renters
Written by: Sandy Baker
Making the decision to rent is exciting and terrifying at the same time. For many people, there are a lot of unknowns.