Cheap Apartments for Rent in Minneapolis, MN from $400 (1,686 Rentals)

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Search the lowest-cost Apartments available for rent right now in Minneapolis.

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214 Oak Grove | Origen Living
$692 - $842
Total Monthly Price

Total Monthly Price

Base Rent
$675 - $825
Required Monthly Fees
$17
Total Monthly Price
$692 - $842
Studio to 1 Bedroom Apartments Available Now

214 Oak Grove | Origen Living

214 Oak Grove StMinneapolis, MN 55403
Affordability
  • Verified
  • Customer Reviewed
  • Low Income

Don't Settle: How to Negotiate Your Apartment Lease and Save Money

Discover the insider tips from an attorney and real estate agent on how to negotiate your next apartment lease. Find out what's on the table and what's not, so you can save money and get the best terms possible.

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Rose
$725 - $1,695
Plus Fees1 Month Lease Term
Studio to 3 Bedroom Apartments Available Oct 7

Rose

1928 Portland AveMinneapolis, MN 55404
Affordability
  • Verified
  • Customer Reviewed
  • Matterport 3D Tour
property at 1316 7th St SE

1316 7th St SE

MinneapolisMN55414
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Brentwood Apartments
$732 - $1,262
Total Monthly Price

Total Monthly Price

Base Rent
$715 - $1,245
Required Monthly Fees
$17
Total Monthly Price
$732 - $1,262
Studio to 1 Bedroom Apartments Available Now

Brentwood Apartments

117-127 W Grant StMinneapolis, MN 55403
Transit Friendly
  • Verified
  • Customer Reviewed
  • Low Income
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Haverhill Apartments
Rent Specials
$777 - $1,132
Total Monthly Price

Total Monthly Price

Base Rent
$760 - $1,115
Required Monthly Fees
$17
Total Monthly Price
$777 - $1,132
Studio to 2 Bedroom Apartments Available Now

Haverhill Apartments

32-34 Spruce PlMinneapolis, MN 55403
Transit Friendly
  • Verified
  • Customer Reviewed
  • Low Income

Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.

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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

When searching for a roommate, follow this list of essential steps and set clear expectations to create a solid foundation for a harmonious living situation.

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116 Oak Grove St – Oak Grove Downtown
Rent Specials
$840 - $865
Total Monthly Price12 Month Lease Term

Total Monthly Price

Base Rent
$825 - $850
Required Monthly Fees
$15
Total Monthly Price
$840 - $865
Studio Apartments Available Now

116 Oak Grove St – Oak Grove Downtown

116 Oak Grove StMinneapolis, MN 55403
Affordability
  • Verified
  • Customer Reviewed
  • Utilities Included

The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.

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Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.

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Showing Results 1-50, Page 1 of 34

Minneapolis, MN Local Guide

Photo of Justin Habersaat - Editing Staff
Written By:
Justin Habersaat
Editing Staff

Cheapest Neighborhoods for Apartments in Minneapolis, MN

Pricing Updated: 09/27/2025

Current apartment rentals in the Minneapolis, MN area range in price from $469 to $15,685 with an overall median price of $2,847. The three Minneapolis neighborhoods with the lowest median rent pricing are North of Maryland at $900, Lowry Hill at $825, and Greater East Side at $755. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Minneapolis Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
North of Maryland$1,266$90037
Lowry Hill$1,570$82531
Greater East Side$1,650$75542
Summit Hill$1,665$80023
Bald Eagle$1,699$1,02524
38th Avenue North$1,750$99518
Douglas Drive North$1,750$99513
Lake Shore Park$1,750$1,02561
Manitou Village$1,750$1,02551
White Bear Parkway$1,750$1,02547

Cheapest Available Minneapolis Apartments for Rent

 

The cheapest available apartment rental in Minneapolis, MN is a 2 Beds unit found at Yugo Minneapolis Sydney Hall in the University Of Minnesota neighborhood priced from $489. Radius in the University Of Minnesota neighborhood has the second lowest priced unit, which is a 4 Beds apartment currently listed from $495. Here is today’s list of the most affordable Minneapolis apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Yugo Minneapolis Sydney Hall2 Bed, 2 Bath DinkyDome Double Renovated2BR,2BA$489
RadiusD64BR,3BA$495
Allianze Sr. Community1X11BR,1BA$500
Paige HallEfficiencyStudio,1BA$551
Shelby CommonsOne Bedroom1BR,1BA$624
Shoreline PlazaStudioStudio,1BA$653
The Quad on DelawareD1R - Renovated 4 Bedroom 4 Bath4BR,4BA$665
Morrison Village ApartmentsStudio/EfficiencyStudio,1BA$690
214 Oak Grove | Origen Living0BR/1.0BAStudio,1BA$692
Buri ManorEfficiencyStudio,1BA$699

Best Value Apartments for Rent in Minneapolis, MN

As of September 27, 2025 the best value apartment in the Minneapolis area is the $0.96 price per square foot 7207 Heatherton Cir Model at 7207 Heatherton Cir in the in the Armatage neighborhood starting from $2,995. The second greatest value Minneapolis apartment is the 834 University Ave W Model at 834 University Ave W, Unit 2 starting at $2,029 with a $0.72 price per square foot in the Summit-University neighborhood. Here is today’s list of the best values for Minneapolis apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
7207 Heatherton Cir7207 Heatherton Cir3BR,3BA$0.96
834 University Ave W, Unit 2834 University Ave W5BR,1BA$0.72
796 Stewart Ave, Unit 796796 Stewart Ave6BR,6BA$0.40
4136 Girard Ave N, Unit 41364136 Girard Ave N3BR,2BA$0.86
Factory LoftsG2: 3 Bedrooms/3 Bathrooms3BR,3BA$0.50
2610/18 Fremont Ave S2BR/1.0BA2BR,1BA$0.88
Marshall at Finn4 Beds, 2 baths4BR,2BA$0.68
Northstar Dinkytown4br G4BR,2BA$0.64
RadiusC33BR,2BA$0.65
Bierman PlaceThe Quad - By-the-bed4BR,2BA$0.60

Quick Rent Budget Calculator

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The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.

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Minneapolis Overview

Where the Mississippi and Minnesota Rivers meet, sits Minneapolis and its sister city Saint Paul. With Minneapolis having the largest population in the state and Saint Paul being the capital, these Twin Cities form the second-largest economic center of the Midwest. The area is surrounded by scenic water parks, including rivers, lakes, wetlands, and waterfalls, making it the perfect city for watersport fans. Connected by the Grand Rounds National Scenic Byway, these green spaces link together through seven districts around the city. Minneapolis is also considered a global city and a significant contributor to the world economy. With the fifth-highest number of Fortune 500 companies in the country, apartments in Minneapolis are perfect for young professionals to live.

Why live in Minneapolis, MN?

The Twin Cities are considered the Midwest’s cultural capital with more than 60 museums, 30 stage theaters, and ten dance companies. With unique attractions, world-class dining, and miles of green spaces, it has the best of two cities for the price of one. With nearly two dozen Fortune 500 companies calling Minneapolis home, such as UnitedHealth Group, Target, and Best Buy, the local economy continues to grow. No sales tax on clothing makes shopping at the Mall of America, the largest mall in the country, that much better.

Pet Friendly Lifestyle
Minneapolis, MN

Ranked #1

Among cities in Minnesota for Apartment listings with Pet Friendly Amenities.

Pet Friendliness Lifestyle Score

2.5
Pet Friendly

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Remember the 3 Rules of Real Estate:
Location, Location, Location!

Explore Minneapolis, MN Rentals by Map

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See the most popular apartments and homes in Minneapolis, MN

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Getting Around Minneapolis, MN

Walk Score®

75 / 100

Very Walkable

Most errands can be accomplished on foot

Bike Score®

83 / 100

Very Bikeable

Biking is convenient for most trips

Transit Score®

52 / 100

Good Transit

Many nearby public transportation options

What Are Walk Score®, Transit Score®, and Bike Score® Ratings?

  • Walk Score® measures the walkability of any address.
  • Transit Score® measures access to public transit.
  • Bike Score® measures the bikeability of any address.

Minneapolis, MN Area Reviews

  • Parks
  • Entertainment
  • Local Vibes
  • Restaurants
  • Location
  • Traffic
  • Public Transportation
  • Outdoor Access
  • Cost of Living
  • Safety

Stephanie • 4+ years in Minneapolis

February 25, 2025

A dream city for outdoorsy types who crave an urban experience...there's nothing like a day at the lakes or hitting up the Grand Rounds. Add amazing theater (like the Guthre) and restaurants and you have the perfect urban (but not too urban) lifestyle. The cost of living is going up but still pretty reasonable compared to most cities of a similar size and with similar cultural opportunities.

Frequently Asked Questions about Cheap Minneapolis Apartments

What is a cheap apartment in Minneapolis?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Minneapolis is under $699.

What is the price of a cheap apartment in Minneapolis?

The cheapest apartment in Minneapolis is Allianze Sr. Community which is listed at $500, while the average apartment in Minneapolis costs $2,847.

What types of apartments are the cheapest in Minneapolis?

Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 12,897 regular apartments in Minneapolis that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

How do the prices of cheap apartments compare to the average apartment in Minneapolis?

Cheap apartments in Minneapolis have an average cost of $377 which is $2,470 cheaper than the average rent for all rentals in Minneapolis.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

The rental experts at ApartmentHomeLiving.com provide you with top advice, tools, and tips for understanding the leasing process and finding the perfect rental. Here are a few helpful rental and leasing articles from our experts to guide you on your search.

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A Local Expert’s Guide To the Top 10 Budget-Friendly Neighborhoods to Rent in Minneapolis

Written by: Stephanie Lica

I'm Stephanie, your ApartmentHomeLiving.com Local Expert for Minneapolis, MN. I've lived in Minnesota all my life, save for a brief stint in Wisconsin.

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Kansas Citys Major Employers & the Best Places to Rent Near Them | A Local Expert Guide

Written by: Amber Kanuckel

Hey, there! I’m Amber, your ApartmentHomeLiving.com local expert for Kansas City, and I’m back with my recommendations for top employers in the area.

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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate! 

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The Rental Move-In Inspection Checklist: A Guide for Renters

Written by: Trey Huguley

The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.