604 White St SW
WatertownMN55388
Cheap Homes for Rent in Waverly, MN from $1,200 (8 Rentals)
Search the lowest-cost Homes available for rent right now in Waverly.
216 Birch Ave S
Maple LakeMN55358
64 E 13th St
WaconiaMN55387
8627 Woodlawn Dr
RockfordMN55373
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.
1411 2nd Ave S
BuffaloMN55313
4407 Wilshire Blvd
MoundMN55364
591 William St
Big LakeMN55309
9208 Golden Pond Ln N
MonticelloMN55362
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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Waverly, MN Local Guide
Minnesota Flags by Tony Webster is licensed under CC BY 2.0
How much does it cost to rent a home in Waverly?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Waverly 2 Bedroom Homes for Rent | $1,808 | $1,200 | $2,900 |
| Waverly 3 Bedroom Homes for Rent | $3,793 | $1,895 | $10,000+ |
| Waverly 4 Bedroom Homes for Rent | $3,196 | $2,350 | $5,375 |
| Waverly 5 Bedroom Homes for Rent | $4,272 | $2,550 | $5,995 |
| Waverly 6 Bedroom Homes for Rent | $9,247 | $3,500 | $10,000+ |
Note: Properties with the Total Monthly Price badge include all required fees. Hover over the badge for details.
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Waverly, MN Local Guide
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Cheapest Available Waverly Apartments for Rent and Nearby
The cheapest available apartment rental in Waverly, MN is a 2 Beds unit found at Westcello Apartments in the Clemens Munsinger Gardens neighborhood priced from $975. Shoreline Place in the Outlying Hennepin Far Western Suburbs neighborhood has the second lowest priced unit, which is a 2 Beds apartment currently listed from $1,059. Here is today’s list of the most affordable Waverly apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Westcello Apartments | 2 Beds, 1 bath | 2BR,1BA | $975 |
| Shoreline Place | 2 bed / 1 ba | 2BR,1BA | $1,059 |
| Cottages of Annandale - 55+ Community | 1B1B | 1BR,1BA | $1,100 |
Best Value Apartments for Rent in Waverly, MN and Nearby
As of April 29, 2026 the best value apartment in the Waverly area is the $1.64 price per square foot Daisy Model at The Preserve at Pintail Ponds in the in the Clemens Munsinger Gardens neighborhood starting from $1,635. The second greatest value Waverly apartment is the 2 bedroom 1 bath Model at Evergreen Square Apartments starting at $1,246 with a $1.30 price per square foot in the Willow Glen Carriage neighborhood. Here is today’s list of the best values for Waverly apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| The Preserve at Pintail Ponds | Daisy | 2BR,2BA | $1.64 |
| Evergreen Square Apartments | 2 bedroom 1 bath | 2BR,1BA | $1.30 |
| The Bluffs | 2 Bedroom | 2BR,1BA | $1.45 |
| Riverwalk Apartments | 2 bedroom remodel | 2BR,1BA | $1.44 |
| Langdon Lake Apartments | 1 BR/1 BA | 1BR,1BA | $1.36 |
| Westcello Apartments | 2 Beds, 1 bath | 2BR,1BA | $1.13 |
| Deephaven Apartments | 1 Bedroom 1 Bathroom | 1BR,1BA | $1.58 |
| Shoreline Place | 2 bed / 1 ba (updated) | 2BR,1BA | $1.60 |
| Cottages of Annandale - 55+ Community | 1B1B | 1BR,1BA | $1.51 |
| Dockside Apartments on Lake Minnetonka | The Marina | 1BR,1BA | $1.60 |
10 Hidden Costs of Renting You Should Budget for Before Signing a Lease
Avoid financial stress when renting. Learn about the 10 most common hidden costs—from pet fees to utilities—you must budget for before you sign a lease.
Read Article
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 ArticleThe Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro
Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.
Read ArticleCash 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.
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.
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See the most popular apartments and homes in Waverly, MN
Frequently Asked Questions about Waverly
What type of rentals are currently available in Waverly?
There are currently 61 Apartments for Rent in Waverly, MN with pricing that ranges from $675 to $3,473. There are also 30 Single Family Homes for rent, Condos, and Townhome rentals currently available in Waverly ranging from $1,200 to $14,995.
What is the current price range for Rental Homes in Waverly?
Today's rental pricing for Homes for Rent, Condos and Townhomes in Waverly ranges from $1,200 to $14,995 with an average monthly rent of $4,463.
How much are larger Three and Four Bedroom Rentals in Waverly?
For those who are looking for larger living arrangements, Three Bedroom Apartments in Waverly range from $1,370 to $2,750, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,895 to $10,500. Four Bedroom Single-Family rentals are also available starting from $2,350 and Four Bedroom Apartments start at $2,750.
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
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.
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.
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.
18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property
Written by: Lauren Harrington
Renting your next home can feel thrilling and overwhelming at the same time.