Apartments for Rent in Lake City, MN

Prices and availability in Lake City, MN were last updated on 17 Jul 2026.

The best apartments in Lake City, MN are: Underwood Terrace, 822 South Lake Shore Dr, 518 South 6th Street, 401/401.5 N Washington Street and 305 N Washington Street.

The price range for a 2-bedroom apartment in Lake City, MN is between $1,010 and $1,260.

The price range for a 3-bedroom apartment in Lake City, MN is between $1,180 and $1,260.

In Lake City 21% of the housing is rented out compared to 79% of homes are owned, according to the most recent Census Bureau estimates. 8% of Lake City's apartments are found in large buildings of 50 units or more, 61% are located in smaller apartment complexes with less than 50 units, and 29% are single-family rentals.

The age and size of multifamily buildings are among the most visible characteristics of the rental market in a city. In this case, the apartment buildings in Lake City are about 0 years old, on average. Of these, none have been built since 2000, representing the newer options on the market and typically offering more amenities. Rental buildings in the city have an average height of 0 stories. About none of the rental communities here are low-rise, garden-style communities, none are mid-rises, and none are high-rise buildings. These are true especially for large-scale multifamily buildings with over 50 apartments.

Rental apartments in Lake City come in a range of sizes and floorplans. Studio apartments represent 0% of units for rent, ideal for singles, renters on a budget and people who value central locations more than space. Rentals with 1-bedroom floorplans make up 0% of the total apartments in the city, while 2-bedroom floorplans represent around 0% of all rentals in Lake City. The rest are larger floorplans with 3 bedrooms or more, typically preferred by families, larger households or roommates sharing space.