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Studio Apartment for Rent in Waconia, MN

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    Starting at $1,623

    Total Monthly Price

    • Studio - 3 Beds

    140 S Elm St, Waconia, MN 55387

    Welcome to Wilford, nestled in the heart of downtown Waconia where residents will enjoy an elevated lifestyle enhanced by the charm of this easily accessible community. Whether you're stepping out for a stroll along the lake or entertaining friends with lakefront views, Wilford sets a new standard for upscale apartment living in Waconia.Wilford's thoughtful design extends beyond individual

    Wilford - NOW OPEN!

    (952) 446-0023

    140 S Elm St, Waconia, MN 55387

Why Live in Waconia

Waconia, Minnesota, located 35 miles west of Minneapolis and 45 miles west of St. Paul, is a small city known for its water recreation and community activities. Founded in the mid-1800s as a resort town on the shores of Lake Waconia, it remains a popular destination for outdoor activities. The city offers a variety of things to do, including walking and biking trails, community centers, and numerous parks, particularly around Lake Waconia. The lake itself is a hub for swimming, boating, and fishing, with Lake Waconia Regional Park providing a sandy beach, kayak and boat launches, and a walking trail on Coney Island of the West. In winter, residents enjoy ice fishing and icehouse parties on the frozen lake. Downtown Waconia features a mix of historic buildings housing local shops, a bakery, a movie theater, and dining options like Lola’s Lakehouse, which offers lakeside views. The city also hosts the annual Nickle Dickle Day festival in September, celebrating its German heritage with arts and crafts, live music, and more. Homes in Waconia range from Craftsman and ramblers to modern farmhouses, with prices varying widely. The Waconia Public Schools district is highly rated, with a low student-teacher ratio. State Highway 5 provides easy access to the Twin Cities and the Minneapolis-St. Paul International Airport, which is 33 miles away. The nearest hospital, Ridgeview Medical Center, is conveniently located in downtown Waconia. The city experiences a typical northern climate with warm summers and long, snowy winters.

Frequently Asked Questions

How much does it cost to rent a home in Waconia, MN?
The median rent for a home in Waconia, MN is $2,395 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 Waconia, MN?
To comfortably afford the median rent in Waconia, MN, a household needs to earn roughly $95,800 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 $2,395 per month in Waconia, MN, renters typically need to show $7,185 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 Waconia, MN?
In Waconia, MN, the price-to-rent ratio is 16.5, 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 in Waconia, MN

Rental Home Trends

Number of Homes for Rent
1
Median Rent
$2,395
Median Single Family Home Rent
$2,395
Median Townhouse Rent
$2,100
Median Condo Rent
$1,495
How to Rent a Home