Apartments for Rent in Prior Lake, MN

Prices and availability in Prior Lake, MN were last updated on 5 Jun 2026.

The best apartments in Prior Lake, MN are: Pike Lake Marsh, Lake Ridge Apartments, Jeffers Waterfront Apartments, 15981 Jordan Ave SE and The Grainwood Senior Apartments.

The average rent in Prior Lake, MN is $1,345.

The price range for a studio apartment in Prior Lake, MN is between $1,418 and $2,334.

The price range for a 1-bedroom apartment in Prior Lake, MN is between $1,395 and $2,431.

The price range for a 2-bedroom apartment in Prior Lake, MN is between $1,419 and $3,190.

The price range for a 3-bedroom apartment in Prior Lake, MN is between $1,419 and $1,972.

In Prior Lake 14% of the housing is rented out compared to 86% of homes are owned, according to the most recent Census Bureau estimates. 37% of Prior Lake's apartments are found in large buildings of 50 units or more, 45% are located in smaller apartment complexes with less than 50 units, and 18% are single-family rentals.

The average age of rental buildings in Prior Lake is 10 years old, with 91% being newer apartment buildings completed since 2000. The average height of apartment buildings in the city is 4 stories, of which all are garden-style apartment communities, none are mid-sized buildings, and none are high-rises. These characteristics describe large-scale apartment communities of 50 apartments or more.

Rental apartments in Prior Lake come in a range of sizes and floorplans. Studio apartments represent 1% 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 59% of the total apartments in the city, while 2-bedroom floorplans represent around 28% of all rentals in Prior Lake. The rest are larger floorplans with 3 bedrooms or more, typically preferred by families, larger households or roommates sharing space.