2

Studio Apartments for Rent in Excelsior, MN

Section Image
  • /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
  • /20

    Starting at $1,950 Plus Fees

    • Studio - 3 Beds

    1 West Dr, Excelsior, MN 55331

    Modern living in historic Excelsior. Positioned in the heart of charming Excelsior, on the south shore of Lake Minnetonka, and at the terminus of 170 years of history, One West Drive is an opportunity to anchor your story in Lake Minnetonka's most celebrated village.Crafted by award-winning architects and designers Snow Kreilich Architects and MartinPatrick3 Interior Design and developed

    One West Drive

    1 West Dr, Excelsior, MN 55331

Why Live in Excelsior

Excelsior, Minnesota, located 20 miles west of Minneapolis, is a small yet vibrant city known for its dynamic downtown and proximity to Lake Minnetonka. The city spans just one square mile but is rich in history and community spirit. Downtown Excelsior is a bustling area lined with historic properties, offering a variety of shopping and dining options. Notable dining spots include Maynards and Kowalski’s for grocery needs. Excelsior Commons Park is a central outdoor attraction, featuring a modern pavilion, playground, and scenic views of the lake. The Excelsior Streetcar Line offers a nostalgic trolley ride showcasing landmarks from the 1800s.Families in Excelsior benefit from the highly rated Minnetonka Public School District. Excelsior Elementary School is recognized for its high academic standards and Chinese language immersion program. West Middle School in Chaska has received national accolades, and Minnetonka Senior High School boasts high proficiency rates in math and reading.The real estate market in Excelsior is somewhat competitive, with home prices ranging from $500,000 to over $2.5 million. The city is characterized by smaller parcels, sidewalks, and distinctive home patterns. Recent developments include a 49-unit multifamily housing project aimed at diversifying housing options. Excelsior is committed to preserving its unique character through careful zoning regulations.Excelsior is a popular destination for both residents and visitors, offering numerous things to do, from enjoying the outdoors at Excelsior Public Beach to exploring local shops like The Abundant Kitchen and Lake Effect Nautical Gifts. The city’s crime rate is lower than the national average, making it an attractive place to live.

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 July 2026, single-family homes tend to be the most affordable option while condos 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 15.5, 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
2
Median Rent
$4,500
Median Single Family Home Rent
$4,400
Median Condo Rent
$4,500
How to Rent a Home