Cheap Apartments for Rent in Minneapolis, MN from $400 (1,666 Rentals)

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

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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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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Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

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Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

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Minneapolis's Best Affordable Neighborhoods

Learn about Minneapolis, MN and the best places to live with original content written by our Minneapolis Local Expert Stephanie Lica

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Minneapolis, MN Local Guide

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Written By:
Justin Habersaat
Editing Staff

Cheapest Neighborhoods for Apartments in Minneapolis, MN

Pricing Updated: 06/18/2025

Current apartment rentals in the Minneapolis, MN area range in price from $479 to $15,685 with an overall median price of $3,039. The three Minneapolis neighborhoods with the lowest median rent pricing are South of Maryland at $785, Keewaydin at $1,495, and Bald Eagle at $1,025. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Minneapolis Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
South of Maryland$1,335$78544
Keewaydin$1,495$1,4951
Bald Eagle$1,627$1,02536
Manitou Village$1,682$1,02530
Somerset Hills$1,740$84623
Downtown Prior Lake$1,759$1,195108
Webber Camden$1,795$1,7253
Nature View$1,798$90050
Wenonah$1,799$89514
Victory$1,800$1,8001

Cheapest Available Minneapolis Apartments for Rent

 

The cheapest available apartment rental in Minneapolis, MN is a 1 Bed unit found at Pleasant View in the Whittier neighborhood priced from $75. Allianze Sr. Community in the Skyway neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $500. Here is today’s list of the most affordable Minneapolis apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Pleasant View1 Bedroom 1 Bath - Pleasant View1BR,1BA$75
Allianze Sr. Community1X11BR,1BA$500
Paige HallEfficiencyStudio,1BA$551
Shelby CommonsOne Bedroom1BR,1BA$624
The Quad on DelawareD1R - Renovated 4 Bedroom 4 Bath4BR,4BA$640
Shoreline PlazaStudioStudio,1BA$653
Charles FlatsStudioStudio,1BA$695
Buri ManorEfficiencyStudio,1BA$699
Stevens Community ApartmentsStudioStudio,1BA$700
The BalmoralEfficiencyStudio,1BA$718

Best Value Apartments for Rent in Minneapolis, MN

As of June 18, 2025 the best value apartment in the Minneapolis area is the $0.69 price per square foot 1023 James Ave N Model at 1023 James Ave N, Unit 1023 in the in the Greater Near North neighborhood starting from $1,500. The second greatest value Minneapolis apartment is the 6BED Model at The Luxe starting at $845 with a $0.48 price per square foot in the Macalester-Groveland 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.
1023 James Ave N, Unit 10231023 James Ave N2BR,1BA$0.69
The Luxe6BED6BR,3BA$0.48
2610/18 Fremont Ave S2BR/1.0BA2BR,1BA$0.93
Marshall at Finn4 Beds, 2 baths4BR,2BA$0.68
The Marshall3X3A3BR,3BA$0.81
2300 Nicollet AvenueOne Bedroom1BR,1BA$0.90
Lynwood Pointe1 Bedroom1BR,1BA$1.04
2215 W 74th St1 Bed, 1 Bath1BR,1BA$1.05
1707 Glenwood Ave1 bedroom1BR,1BA$1.00
Shelby CommonsOne Bedroom1BR,1BA$0.90

Quick Rent Budget Calculator

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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 $718.

What is the price of a cheap apartment in Minneapolis?

The cheapest apartment in Minneapolis is Pleasant View which is listed at $75, while the average apartment in Minneapolis costs $3,039.

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 11,997 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 $412 which is $2,627 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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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

Written by: Cheryl Bowman

A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.

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The Art of the Rental Viewing: What to look for during a property tour

Written by: Marie Brown

You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.

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Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.