The Blakeley
1600 Windermere Way,
Shakopee, MN 55379
$1,345 - $3,118 Total Monthly Price
Studio - 3 Beds
Rental Market Trends in Prior Lake, MN
What is the average rent in Prior Lake, MN?
$1,452/month
Average Rent
731 Sq Ft
Average Apartment Size
-0.6%
Decrease in the Last Year
As of January 2026, the average rent in Prior Lake, MN is $1,452 per month. For comparison, the national average rent price in the US is currently $1,624/month, which means Prior Lake rent prices are 11% lower than the national average. When you rent an apartment in Prior Lake, you can expect to pay about $1,310 per month for a studio, $1,452 for a one-bedroom apartment, and around $1,672 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $2,051 or more.
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
How much has average rent changed in Prior Lake, MN?
In the past year, rent has decreased by 0.6%, which averages out to $8 less per month.
Market Trends Over Time
The chart below compares average rent prices to the previous year during the same time period.
Last Updated January 2026
Legend
2025
2026
Rent Ranges in Prior Lake, MN
Last Updated January 2026
$1,001 - $1,500
Most rental prices fall within this range
Percentage*
Rent Range
0%
Below $700/month
0%
$700 - $1,000/month
50%
$1,001 - $1,500/month
50%
$1,501 - $2,000/month
0%
Above $2,000/month
What salary do I need to live comfortably in Prior Lake, MN?
Because the average rent in Prior Lake is $1,452, you’ll want to make about $4,840 per month or $58,080 per year. The general guideline is to pay no more than 30 percent of your monthly income on rent. However, you’ll want to consider additional factors, such as your monthly bills and other expenses. Use our rent affordability calculator to help determine how much to budget for rent.
How does Prior Lake, MN compare to other nearby cities and neighborhoods?
Use the tool below to compare Prior Lake, MN to other nearby cities and neighborhoods. The Apartments.com neighborhood guides provide you with insight into the area’s transportation, things to do, and more.
Nearby City Rent Trends
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Methodology
† Our analysis of utilities, groceries, transportation, healthcare, home prices, and other goods and services is sourced from the Cost of Living Index, a respected benchmark published by the Council for Community and Economic Research (C2ER) that provides a thorough overview of living expenses across different regions.
Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
Consumer goods, services, and home prices are sourced from the Cost of Living Index published by the Council for Community and Economic Research (C2ER). The data on this page is updated quarterly. It was last published in November 2025.
* Percentages may not total 100 due to rounding.