Jeffers Waterfront Apartments
3800 Jeffers Pky NW,
Prior Lake, MN 55372
1 Bed | $1,475 - $1,944
Rental Market Trends in Prior Lake, MN
Updated September 2026
The average rent in Prior Lake, MN is $1,508/month.
Rent in Prior Lake is roughly equal to the national average rent of of $1,665/month.
$1,508/month
Average Rent
734 Sq Ft
Average Size
+1.9%
Change / Year
330
Available Apartments
Prior Lake rent varies by unit size and layout:
- Studio apartments in Prior Lake average $1,290 per month.
- One-bedroom apartments in Prior Lake average $1,508 per month.
- Two-bedroom apartments in Prior Lake average $1,745 per month.
- Three-bedroom apartments in Prior Lake average $2,095 or more per month.
Average Rent by Home Type
Bedrooms
Average Rent
Average Sq Ft
Bedrooms
Average Rent
Average Sq Ft
Bedrooms
Average Rent
Average Sq Ft
How much has average rent changed in Prior Lake, MN?
In the past year, rent has increased by 1.9%, which averages out to $30 more per month.
Market Trends Over Time
September 2026
2025
2026
Rent Ranges in Prior Lake, MN
September 2026
$1,501 - $2,000
Most rental prices fall within this range
Percentage*
Rent Range
0%
Below $700/month
0%
$700 - $1,000/month
33%
$1,001 - $1,500/month
67%
$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 $1,508, you’ll want to make about $5,026 per month or $60,312 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.
View the Prior Lake Area GuideCompare Rent Trends Nearby
Get a clearer picture of the area by viewing rent trends in nearby cities.
-
Shakopee
Avg Rent: $1,497/month
-
Savage
Avg Rent: $1,462/month
-
Eden Prairie
Avg Rent: $1,595/month
-
Burnsville
Avg Rent: $1,330/month
-
Carver
Avg Rent: $987/month
-
Bloomington
Avg Rent: $1,425/month
-
Jordan
Avg Rent: $1,460/month
-
Chaska
Avg Rent: $1,526/month
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Frequently Asked Questions
What is the average rent in Prior Lake?
The average rent in Prior Lake is $1,508 per month, which is 9.4% lower than the national average of $1,665.
What is the average rent for a house in Prior Lake?
The average rent for a house in Prior Lake, MN is $2,657 per month.
What is the average rent for a townhome in Prior Lake?
The average rent for a townhome in Prior Lake, MN is $1,953 per month.
Are rents going up or down in Prior Lake?
Rents in Prior Lake, MN are increasing, with prices up 1.9% year-over-year and $30 more per month.
What rent range is most common in Prior Lake?
In Prior Lake, MN, 67% of apartments fall between $1,501 - $2,000/month, though prices may vary depending on location and other factors.
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 September 2026.
Demographic information comes from Neustar and combines detailed address data with U.S. Census and American Community Survey statistics to produce reliable local estimates.
* Percentages may not total 100 due to rounding.