Cheap Homes for Rent in Waterville, MN from $1,100 (15 Rentals)

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Search the lowest-cost Homes available for rent right now in Waterville.

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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property at 960 N 3rd St

960 N 3rd St

St. PeterMN56082

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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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.

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Waterville, MN Local Guide

Cheapest Available Waterville Apartments for Rent and Nearby

 

The cheapest available apartment rental in Waterville, MN is a 1 Bed unit found at Town's Edge Place Apartments in the Downtown Faribault neighborhood priced from $975. Woodside Apartments in the Erlandson Park neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $1,055. Here is today’s list of the most affordable Waterville apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Town's Edge Place Apartments1 Bedroom1BR,1BA$975
Woodside ApartmentsStudioStudio,1BA$1,055
RoK Lofts1 Bedroom Unit1BR,1BA$1,100
Legacy Park EstatesOne Bedroom One Bathroom1BR,1BA$1,225
Cedar Meadow Apartments3BR3BR,1BA$1,249

Best Value Apartments for Rent in Waterville, MN and Nearby

As of July 25, 2025 the best value apartment in the Waterville area is the $1.19 price per square foot 3 bed 2.5 bath (Exterior) Model at Fox Run Townhomes in the in the City Center Mankato neighborhood starting from $2,095. The second greatest value Waterville apartment is the Three Bedroom Model at Wolf Point Townhomes starting at $1,965 with a $1.28 price per square foot in the North Industrial Mankato neighborhood. Here is today’s list of the best values for Waterville apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Fox Run Townhomes3 bed 2.5 bath (Exterior)3BR,2.5BA$1.19
Wolf Point TownhomesThree Bedroom3BR,2.5BA$1.28
Cedar View Apartments2575 3 BD/2 BA3BR,2BA$1.51
Fox Meadows TownhomesThree Bed - Market3BR,1.5BA$1.34
Heritage Bluff Apartments LLC2 bedroom 1 bathroom2BR,1BA$1.31
Straight River Apartments, LLC2 Bedroom 1 Bath2BR,1BA$1.37
Town's Edge Place Apartments3 Bedroom3BR,2BA$1.40
Cedar Meadow Apartments3BR3BR,1BA$1.35
Riverchase Apartments2 Bedroom 1 Bath2BR,1BA$1.63
Legacy Park EstatesOne Bedroom One Bathroom1BR,1BA$1.61

Quick 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.

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Frequently Asked Questions about Waterville

What type of rentals are currently available in Waterville?

There are currently 44 Apartments for Rent in Waterville, MN with pricing that ranges from $825 to $2,650. There are also 32 Single Family Homes for rent, Condos, and Townhome rentals currently available in Waterville ranging from $1,195 to $3,500.

What is the current price range for Rental Homes in Waterville?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Waterville ranges from $1,195 to $3,500 with an average monthly rent of $1,761.

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.

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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

Written by: Cheryl Bowman

A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.

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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.

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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.

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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.