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Studio Apartments for Rent in Excelsior, MN

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  • /50

    Starting at $1,727

    Total Monthly Price

    • Studio - 1 Bed

    322 Lake St, Excelsior, MN 55331

    Welcome to Excelsior Shores, a vibrant apartment community nestled in the heart of downtown Excelsior, MN, right across from the stunning Lake Minnetonka. Here, urban charm beautifully meets natural beauty, creating a truly refined living experience for our residents.Our thoughtfully designed apartments offer a perfect blend of style and comfort, featuring upscale finishes and modern

    Excelsior Shores

    322 Lake St, Excelsior, MN 55331
  • /18

    Starting at $1,950 Plus Fees

    • Studio - 2 Beds

    1 West Dr, Excelsior, MN 55331

    Nestled in the bustling historic lake town of Excelsior on the shores of storied Lake Minnetonka, One West Drive places you in the heart of lakeside adventures, charming shops, award-winning dining, and tranquil public spaces - all complemented by amenities designed for your comfort and convenience.

    One West Drive

    1 West Dr, Excelsior, MN 55331
  • /13

    $1,200 Plus Fees

    • Studio
    • 1 Bath
    • Condo for Rent

    317 2nd St Unit 2, Excelsior, MN 55331

    Property Id: 2361796 This is a very cute studio apartment in the lovely town of Excelsior where some of the best events in the area are held. Just a block off main st (Water St) where there is a plethora of retail shops, restaurants, coffee shops, bars etc. Your private entry door faces 2nd street, you have views towards the lake through your bedroom and bathroom windows, and views of the

    317 2nd St Unit 2, Excelsior, MN 55331

Why Live in Excelsior

Excelsior, Minnesota, is a small city on the shores of Lake Minnetonka that feels far away from Minneapolis, even though downtown is less than 20 miles away. Historic homes from the early 1900s, including Dutch Colonial and National Folk styles, share the streets with newer houses and townhomes that echo older architecture. The water shapes daily life here, with lakeside homes and year-round recreation. Cyclists, runners and walkers spend hours on the 9-mile-long Lake Minnetonka Regional Trail. Excelsior Commons overlooks the lake and has amenities like playgrounds, baseball fields and a bandshell for regular events. Swimmers head to public beach, while boaters dock at the Port of Excelsior with docks and excursion boats. Water Street anchors a walkable downtown, lined with historic buildings that house local shops, restaurants and cafes. There are plenty of community events, ranging from juried art festivals to the long-running Apple Days. Families are served by the highly rated Minnetonka Public School District, which includes Excelsior Elementary School.

Frequently Asked Questions

How much does it cost to rent a home in Excelsior, MN?
The median rent for a home in Excelsior, MN is $4,500 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 Excelsior, MN?
To comfortably afford the median rent in Excelsior, MN, a household needs to earn roughly $180,000 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 $4,500 per month in Excelsior, MN, renters typically need to show $13,500 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 Excelsior, MN?
In Excelsior, MN, the price-to-rent ratio is 15.8, 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

Number of Homes for Rent
3
Median Rent
$4,500
Median Single Family Home Rent
$4,500
Median Condo Rent
$2,150
How to Rent a Home