Albert Lea, MN Condos for Rent

/17
$950

Total Monthly Price
- 1 Bed
- 1 Bath
- 745 Sq Ft
- Condo for Rent
709 Marshall St Unit 709Marshallstreet, Albert Lea, MN 56007

2 bath room place with all new windows and appliances. Rent include all utilies but gas. We will do the lawn and snow removal.

709 Marshall St Unit 709Marshallstreet, Albert Lea, MN 56007
Explore Albert Lea
/10
$1,050

Total Monthly Price
- 3 Beds
- 1 Bath
- 1,000 Sq Ft
- Condo for Rent
506 W College St Unit 506, Albert Lea, MN 56007

Spacious three bedroom. Laundry in unit. One stall garage.

506 W College St Unit 506, Albert Lea, MN 56007
/4
$750

Total Monthly Price
- 1 Bed
- 1 Bath
- 550 Sq Ft
- Condo for Rent
126 W William St Unit 2, Albert Lea, MN 56007

Upstairs Downtown Apartment. Just painted!! And new floors.

126 W William St Unit 2, Albert Lea, MN 56007
/22
$1,100 Plus Fees
- 2 Beds
- 1 Bath
- 1,247 Sq Ft
- Condo for Rent
701 Water St Unit 1, Albert Lea, MN 56007

Property Id: 2756398 Welcome to your new home at 701 Water Street in Albert Lea! This charming 2-bedroom, 1-bathroom unit offers a convenient location with included utilities and amenities such as a refrigerator, oven, washer/dryer, and hardwood floors. Enjoy the spacious living area, shared washer/dryer, and driveway parking. Don't miss out on this opportunity for a cozy and convenient

701 Water St Unit 1, Albert Lea, MN 56007
/9
$750

Total Monthly Price
- 2 Beds
- 1 Bath
- Condo for Rent
209 S Pearl St Unit 3, Albert Lea, MN 56007

209 S Pearl St Unit 3, Albert Lea, MN 56007
/9
$895

Total Monthly Price
- 2 Beds
- 1 Bath
- 1516/1520 E Hawthorne St
1516-1520 E Hawthorne St Unit 2, Albert Lea, MN 56007

1516-1520 E Hawthorne St Unit 2, Albert Lea, MN 56007
/7
$850

Total Monthly Price
- 1 Bed
- 1 Bath
- 600 Sq Ft
- Condo for Rent
424 Bridge Ave, Albert Lea, MN 56007

Spacious 1 bedroom 1 bath apartment located in downtown, above Eaton Sport and Spine near Fountain Lake. Located in a secure building, large closets in the unit, along with a storage unit in the basement for extra storage. Coin operated laundry available onsite along with off street private parking. Tenant to pay electric. Water/sewer, heat, gas and garbage included. AC units included as well.

424 Bridge Ave, Albert Lea, MN 56007
/17
$995

Total Monthly Price
- 2 Beds
- 1 Bath
- 850 Sq Ft
- Condo for Rent
424 Bridge Ave, Albert Lea, MN 56007

Spacious 2 bedroom 1 bath apartment located in downtown, above Eaton Sport and Spine with a beautiful view of Fountain Lake. Located in a locked building, large closets in the unit, along with a storage unit in the basement for extra storage. Coin operated laundry available onsite, along with off street private parking. Tenant to pay electric. Water/sewer, heat, gas and garbage included. AC units

424 Bridge Ave, Albert Lea, MN 56007
/15
$925

Total Monthly Price
- 2 Beds
- 1 Bath
- Condo for Rent
836 S Newton Ave Unit 1, Albert Lea, MN 56007

836 S Newton Ave Unit 1, Albert Lea, MN 56007
/17
$1,100

Total Monthly Price
- 2 Beds
- 1 Bath
- 900 Sq Ft
- Condo for Rent
930 S Broadway Ave, Albert Lea, MN 56007

Beautifully remodeled second floor 2 bedroom unit with large kitchen space. All new appliances and fixtures throughout along with 2 secure entrances. This unit is located near dining, stores and is minutes from downtown. Water, sewer & trash included. Tenant pays gas & electric. Pets are Ok with a $250 pet deposit and a $50/mo pet fee. Dogs must have updated vaccination records and must

930 S Broadway Ave, Albert Lea, MN 56007

Minnesota Freeborn County

Frequently Asked Questions

How much does it cost to rent a condo in Albert Lea, MN?

The median rent for a condo in Albert Lea, MN is $925 per month, though prices vary by neighborhood, size, and property type. As of August 2026, condos tend to be the most affordable option while single-family homes are currently more expensive.

How much do you need to make to afford rent in Albert Lea, MN?

To comfortably afford the median rent in Albert Lea, MN, a household needs to earn roughly $38,000 per year. This is based on the common guideline that households should spend no more than 30% of gross income on housing. Most landlords require monthly household income of at least 3x the monthly rent, and with a median rent of $950 per month in Albert Lea, MN, renters typically need to show $2,850 per month in gross income to qualify. Actual affordability will vary depending on household debts, other living expenses, and overall budget.

Is it more affordable to rent or buy in Albert Lea, MN?

In Albert Lea, MN, the price-to-rent ratio is 16.3, which generally favors renting. This ratio divides the median home price by the annual median rent: below 15 typically favors buying, 15 to 20 is balanced, and above 20 typically favors renting. Your finances, how long you plan to stay, and costs like mortgage rates, taxes, and maintenance all factor into the decision.

Condo Rental Trends in Albert Lea, MN

There are currently 10 condos available for rent in Albert Lea, MN. The median rent is $925 per month, with 1-bedroom condos renting at $950 and 2-bedroom condos at $910.

Rental Home Trends

Number of Condos for Rent 10	Median Condo Rent $925
Median 1 Bedroom Condo Rent $950	Median 2 Bedroom Condo Rent $910

How to Rent a Home

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