Cheap Apartments for Rent in Minneapolis, MN from $400 (1,687 Rentals)

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

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Shelby Commons
$624 - $1,927
Plus Fees12 Month Lease Term
1 to 3 Bedroom Apartments Available Now

Shelby Commons

188 Glenwood AveMinneapolis, MN 55405
  • Verified
property at 1316 7th St SE

$650 - $725

Total Monthly Price

Total Monthly Price

Base Rent
$700
Total Monthly Price
$700

12 Bedroom Rentals

Available Now

1316 7th St SE

MinneapolisMN55414
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Brentwood Apartments
$717 - $727
Total Monthly Price

Total Monthly Price

Base Rent
$700 - $710
Required Monthly Fees
$17
Total Monthly Price
$717 - $727
Studio Apartments Available Now

Brentwood Apartments

117-127 W Grant StMinneapolis, 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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Rose
$725 - $1,695
Plus Fees1 Month Lease Term
Studio to 3 Bedroom Apartments Available Now

Rose

1928 Portland AveMinneapolis, MN 55404
Student Housing
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  • Customer Reviewed
  • 3D Tour
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Haverhill Apartments
Rent Specials
$782 - $922
Total Monthly Price

Total Monthly Price

Base Rent
$765 - $905
Required Monthly Fees
$17
Total Monthly Price
$782 - $922
1 Bedroom Apartments Available Now

Haverhill Apartments

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

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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Loring Grove Apartments
$825 - $999
Total Monthly Price12 Month Lease Term

Total Monthly Price

Base Rent
$825 - $999
Total Monthly Price
$825 - $999
Studio to 1 Bedroom Apartments Available Now

Loring Grove Apartments

125 Oak Grove StMinneapolis, MN 55403
Corporate Housing
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  • Customer Reviewed
  • 3D Tour
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Garfield Ave Apartments | 2323
Rent Specials
$841 - $866
Total Monthly Price

Total Monthly Price

Base Rent
$825 - $850
Required Monthly Fees
$16
Total Monthly Price
$841 - $866
Studio Apartments Available Soon

Garfield Ave Apartments | 2323

2323 Garfield Ave SMinneapolis, MN 55405
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  • Utilities Included

Authentic Minneapolis: An Insider's Guide to Renting in the City of Lakes

Get the inside scoop on Minneapolis apartment living from a local expert. Explore the best neighborhoods for renting, fascinating history, top attractions, and must-try dining.

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Bryant Manor Apartments
Rent Specials
$857 - $1,427
Total Monthly Price

Total Monthly Price

Base Rent
$845 - $1,415
Required Monthly Fees
$12
Total Monthly Price
$857 - $1,427
Studio to 2 Bedroom Apartments Available Now

Bryant Manor Apartments

3532 Bryant Ave SMinneapolis, MN 55408
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  • Utilities Included
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Blending Career and Community: Top Neighborhoods to Rent Near Major Minneapolis Employers

Find your dream Minneapolis work-life balance! See the best Twin Cities neighborhoods to rent apartments with short commutes near Target, Best Buy, and other top local employers.

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The Villa Apartments
$875 - $1,445
Total Monthly Price12 Month Lease Term

Total Monthly Price

Base Rent
$825 - $1,395
Required Monthly Fees
$50
Total Monthly Price
$875 - $1,445
Studio to 2 Bedroom Apartments Available Now

The Villa Apartments

1111 S 7th StMinneapolis, MN 55415
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The Art of the Rental Viewing: What to look for during a property tour

Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

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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: 01/02/2026

Current apartment rentals in the Minneapolis, MN area range in price from $469 to $15,685 with an overall median price of $2,679. The three Minneapolis neighborhoods with the lowest median rent pricing are North End at $940, South of Maryland at $950, and Douglas Drive North at $995. 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 End$1,350$94049
South of Maryland$1,350$95019
Douglas Drive North$1,511$99510
Albert Park - Emerson Park$1,585$97952
Lilly Lake$1,585$1,05953
Moreland$1,585$90084
Thompson Oaks$1,585$1,05982
North of Maryland$1,604$94059
Hunters Wood$1,657$1,096172
Heart of the City$1,657$1,025230

Cheapest Available Minneapolis Apartments for Rent

 

The cheapest available apartment rental in Minneapolis, MN is a 4 Beds unit found at Radius in the University Of Minnesota neighborhood priced from $479. Yugo Minneapolis Sydney Hall in the University Of Minnesota neighborhood has the second lowest priced unit, which is a 2 Beds apartment currently listed from $489. Here is today’s list of the most affordable Minneapolis apartments for rent:

Apartment ListingModel NameBed/BathPriced From
RadiusD54BR,3BA$479
Yugo Minneapolis Sydney Hall2 Bed, 2 Bath DinkyDome Double Renovated2BR,2BA$489
Allianze Sr. Community1X11BR,1BA$500
Paige HallEfficiencyStudio,1BA$551
Shelby CommonsOne Bedroom1BR,1BA$624
214 Oak Grove | Origen Living0BR/1.0BAStudio,1BA$642
Shoreline PlazaStudioStudio,1BA$653
Spruce Place ApartmentsStudioStudio,1BA$695
Buri ManorEfficiencyStudio,1BA$699
Stevens Community ApartmentsStudioStudio,1BA$700

Best Value Apartments for Rent in Minneapolis, MN

As of January 03, 2026 the best value apartment in the Minneapolis area is the $0.86 price per square foot 4136 Girard Ave N Model at 4136 Girard Ave N, Unit 4136 in the in the Shingle Creek neighborhood starting from $1,650. The second greatest value Minneapolis apartment is the 3233 Chicago Ave Model at 3233 Chicago Ave, Unit 2 starting at $1,400 with a $0.93 price per square foot in the Powderhorn 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.
4136 Girard Ave N, Unit 41364136 Girard Ave N3BR,2BA$0.86
3233 Chicago Ave, Unit 23233 Chicago Ave2BR,1BA$0.93
Factory LoftsG2: 3 Bedrooms/3 Bathrooms3BR,3BA$0.50
1471 Grand Ave, Unit 31471 Grand Ave2BR,1BA$1.02
Lynwood Pointe2 Bedroom1BR,1BA$0.95
RadiusD24BR,2BA$0.63
796 Stewart AveColiving Suite 7981BR,1BA$0.83
2012 Garfield | Origen Living1BR/1.0BA1BR,1BA$1.05
Marshall at Finn3 Beds, 1 bath3BR,1BA$0.98
Haverhill Apartments1BR/1.0BA1BR,1BA$1.02

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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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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Enjoy Twin Cities Campus Life: Top Minneapolis Neighborhoods for Student Renters

Discover the best Minneapolis neighborhoods for student renters! Find ideal apartments near major Twin Cities campuses & enjoy vibrant student life.

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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.

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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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 $700.

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 $2,679.

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 13,916 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 $424 which is $2,255 cheaper than the average rent for all rentals in Minneapolis.

Expert Rental Resources

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.

Helpful Local Expert Guides

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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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Enjoy Twin Cities Campus Life: Top Minneapolis Neighborhoods for Student Renters

Written by: Stephanie Lica

I'm Stephanie, your ApartmentHomeLiving.com Local Expert for Minneapolis, MN.

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Blending Career and Community: Top Neighborhoods to Rent Near Major Minneapolis Employers

Written by: Stephanie Lica

I'm Stephanie, your ApartmentHomeLiving.com Local Expert for Minneapolis, Minnesota. I love life in the Twin Cities.

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Authentic Minneapolis: An Insiders Guide to Renting in the City of Lakes

Written by: Stephanie Lica

Hello from the Twin Cities! I’m Stephanie — your ApartmentHomeLiving.com Local Expert for Minneapolis. I’m here to give you the inside scoop on this frigid, yet fascinating city.

Articles, How-To's, and Tips

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How to Make Your Apartment Holiday-Ready: Renter-Friendly Tips

Written by: Justin Habersaat

Getting your apartment ready for the holidays can be exciting but sometimes challenging in a smaller space. Here are some modern tips to keep things festive, safe, and inviting this season.

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Renting with Roommates: Realistic Expectations for Shared Lease

Written by: Christine Leonard, Esq.

Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.

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Apartment Common Area Rules: What Renters Need to Know

Written by: Christine Leonard, Esq.

Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.

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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!