Apartments for Rent in Prior Lake, MN

Prices and availability in Prior Lake, MN were last updated on 14 Sep 2026.

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

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

The price range for a studio apartment in Prior Lake, MN is between $1,324 and $2,094.

The price range for a 1-bedroom apartment in Prior Lake, MN is between $1,419 and $4,400.

The price range for a 2-bedroom apartment in Prior Lake, MN is between $1,419 and $2,711.

The price range for a 3-bedroom apartment in Prior Lake, MN is between $1,419 and $2,895.

In Prior Lake, 14% of the residents are renting compared to 86% owning a home, according to data from the U.S. Census Bureau. Large-scale apartment buildings with more than 50 units represent 37% of Prior Lake's rentals, 45% are small-scale complexes with under 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.