3

Studio Apartments for Rent in Albert Lea, MN

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    Starting at $625 Plus Fees

    • Studio - 2 Beds

    133 W William St, Albert Lea, MN 56007

    Come take a look at your new home! These apartments feature soaring 9ft ceilings, dual entry to apartment, updated kitchen, bathroom and living spaces!Large “New-York” style picturesque windows fill the rooms with tons of natural light! The modern-rustic light fixture completes the charm! You’ll feel right at home!We offer a combination of different flooring! From dark grays, to

    CityView Apartments

    (507) 473-9351

    133 W William St, Albert Lea, MN 56007
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    $550

    Total Monthly Price

    • Studio
    • 1 Bath
    • Condo for Rent

    209 S Pearl St Unit 2, Albert Lea, MN 56007

    209 S Pearl St Unit 2, Albert Lea, MN 56007
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    $850

    Total Monthly Price

    • Studio
    • 1 Bath
    • 800 Sq Ft
    • House for Rent

    702 E Main St, Albert Lea, MN 56007

    FOR LEASE: PREMIUM COMMERCIAL OFFICE SPACENewly Remodeled Professional Suite on Main StreetDiscover the epitome of modern business elegance at our newly remodeled commercial office space, strategically situated on Main Street in the heart of Albert Lea.Key Features:Lobby/Retail AreaLockable office/laundry roomLarge office/retail/storage in the

    702 E Main St, Albert Lea, MN 56007

Why Live in Albert Lea

Albert Lea, a small town in southern Minnesota with a population of about 18,000, is known for its picturesque lakes and vibrant community. Located approximately 90 miles south of the Twin Cities, Albert Lea features Fountain Lake and Albert Lea Lake, which are central to the town's outdoor recreation. Residents enjoy activities such as boating, fishing, waterskiing, kayaking, and canoeing. The town offers a variety of home styles, including bungalows, ranches, split- and bi-levels, with waterfront properties being the most sought after. Albert Lea boasts over 300 acres of parklands across more than 40 parks, including Myre Big Island State Park, which is home to diverse wildlife and a savanna landscape. The town's crime rate is lower than the national average, contributing to its appeal. Albert Lea's downtown area is lively with boutiques, local shops, and dining options like 112 on Broadway and Jake's Pizza. The town hosts numerous seasonal events, such as Wind Down Wednesdays and the Big Freeze, fostering a strong sense of community. Interstates 35 and 90 provide easy access to nearby cities, and Mason City Municipal Airport offers daily flights to Chicago. The SMART bus service facilitates local transportation. Albert Lea's humid climate brings hot summers and cold winters, with beautiful spring and fall seasons.

Frequently Asked Questions

How much does it cost to rent a home in Albert Lea, MN?
The median rent for a home in Albert Lea, MN is $950 per month, though prices vary by neighborhood, size, and property type. As of May 2026, condos tend to be the most affordable option while townhouses and 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 16.7, 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.

Rental Home Trends in Albert Lea, MN

Rental Home Trends

Number of Homes for Rent
3
Median Rent
$950
Median Single Family Home Rent
$1,225
Median Townhouse Rent
$995
Median Condo Rent
$950
How to Rent a Home