All Filters
Price
Beds

Select two tiles for min/max range

Baths
Transit Lines
Home Type
Home Styles
Specialty Housing

Housing Type

Additional Specialties

Pet Policy
Move-In Date
Popular Amenities
Rating
Show Only
Keyword
Searching for student living options?

Select your school and find the perfect place nearby or on-campus.

All Universities
Pricing Type
Amenities
Clear
Nearby
Nearby

Cheap Apartments for Rent in Lake Elmo MN - 637 Rentals

Lake Elmo, MN Cheap Apartments for Rent

Whether you're on a budget or just looking to save, there are plenty of ways to find cheap apartments in Lake Elmo. Start by defining your list of apartment “must-haves.” What features can you not live without? If you want to live within walking distance to your favorite downtown locations, you may find that a smaller apartment of fewer amenities are a fair trade-off. Rent prices in Lake Elmo tend to be higher near the city center. For better deals, explore neighborhoods farther out where rents can be lower and apartment sizes may be larger. Look for areas with a higher number of available rental units — landlords with more vacancies are often more willing to offer incentives like lower rent or flexible lease terms. Keep an eye on listings for budget-friendly apartments that meet your core needs while offering a reasonable commute and access to the amenities you want.

Best Time to Find Cheap Apartments in Lake Elmo MN

Timing your apartment search can make a big difference in securing a great deal. Apartments are typically more affordable during the winter months — December through March — when demand is lower. During this off-season, landlords may offer reduced rent, waived fees, or other specials to fill units quickly. Another smart time to search is at the end of the month, when lease turnover peaks and more units become available. Being flexible with your move-in timing could help you land a better price. Cheap apartments in Lake Elmo tend to go fast. Keep an eye on timing, neighborhood options, and special deals to score the best rental price.

Lake Elmo, MN Rental Insights

Average Rent Rates

What is the average rent in Lake Elmo, MN?

The average rent in Lake Elmo is $1,862. When you rent an apartment in Lake Elmo, you can expect to pay as little as $1,594 or as much as $3,053, depending on the location and the size of the apartment.

What is the average rent of a Studio apartment in Lake Elmo, MN?

The average rent for a studio apartment in Lake Elmo, MN is $1,594 per month.

What is the average rent of a 1 bedroom apartment in Lake Elmo, MN?

The average rent for a one bedroom apartment in Lake Elmo, MN is $1,859 per month.

What is the average rent of a 2 bedroom apartment in Lake Elmo, MN?

The average rent for a two bedroom apartment in Lake Elmo, MN is $2,579 per month.

What is the average rent of a 3 bedroom apartment in Lake Elmo, MN?

The average rent for a three bedroom apartment in Lake Elmo, MN is $3,053 per month.

Education

What colleges and universities are in Lake Elmo, MN?

If you’re a student moving to an apartment in Lake Elmo, you’ll have access to Century College, Metropolitan State University, and Saint Paul College.

Helpful Rental Guides for Lake Elmo, MN

The Ins and Outs of Renting Month to Month After Your Lease Is Up
The Ins and Outs of Renting Month to Month After Your Lease Is Up
How to Move Across the Country
How to Move Across the Country
Handling Neighbors with Noisy Cars
Handling Neighbors with Noisy Cars
What to Know About Rent Concessions
What to Know About Rent Concessions
Explore More on the Renterverse

Search Nearby Rentals

Rentals Near Lake Elmo

Neighborhood Apartment Rentals

Nearby Lake Elmo House Rentals

New Rental Listings

Map Options
Map View
Default
Satellite
Nearby Point of Interests
Travel Time

Set a destination, transportation method, and your ideal commute time to see results.

Commute Time is calculated at rush hour.