Cheap Apartments for Rent in Minneapolis, MN from $400 (1,711 Rentals)

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

property at 3255 20th Ave S

$700

Total Monthly Price

Total Monthly Price

Base Rent
$700
Total Monthly Price
$700

Studio, 1 Bath Home for Rent

Available Now

3255 20th Ave S

MinneapolisMN55407
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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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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Remington Apartments
Rent Specials
$745 - $1,300
Total Monthly Price12 Month Lease Term

Total Monthly Price

Base Rent
$745 - $1,300
Total Monthly Price
$745 - $1,300
Studio to 2 Bedroom Apartments Available Soon

Remington Apartments

708 5th St SEMinneapolis, MN 55414
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Brentwood Apartments
$752 - $767
Total Monthly Price

Total Monthly Price

Base Rent
$735 - $750
Required Monthly Fees
$17
Total Monthly Price
$752 - $767
Studio Apartments Available Now

Brentwood Apartments

117-127 W Grant StMinneapolis, MN 55403
Affordability
  • Verified
  • Customer Reviewed
  • Low Income

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.

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Haverhill Apartments
Rent Specials
$782 - $837
Total Monthly Price

Total Monthly Price

Base Rent
$765 - $820
Required Monthly Fees
$17
Total Monthly Price
$782 - $837
Studio to 1 Bedroom Apartments Available Now

Haverhill Apartments

32-34 Spruce PlMinneapolis, MN 55403
Transit Friendly
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  • 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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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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315 11th Ave SE
$850 - $2,250
Total Monthly Price

Total Monthly Price

Base Rent
$850 - $2,250
Total Monthly Price
$850 - $2,250
1 to 4 Bedroom Apartments Available Sep 1

315 11th Ave SE

315 11th Ave SEMinneapolis, MN 55414
Student Housing
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  • Utilities Included
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22 on the River
Rent Specials
$850 - $2,594
Total Monthly Price12 Month Lease Term

Total Monthly Price

Base Rent
$850 - $2,594
Total Monthly Price
$850 - $2,594
Studio to 2 Bedroom Apartments Available Now

22 on the River

22 27th Ave SEMinneapolis, MN 55414
Student Housing
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AVID Uptown
$862 - $1,112
Total Monthly Price

Total Monthly Price

Base Rent
$795 - $1,045
Required Monthly Fees
$67
Total Monthly Price
$862 - $1,112
Studio to 1 Bedroom Apartments Available Jun 1

AVID Uptown

3431 Dupont Ave SMinneapolis, MN 55408
Student Housing
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  • Customer Reviewed
  • 3D Tour

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
$875 - $1,360
Total Monthly Price12 Month Lease Term

Total Monthly Price

Base Rent
$875 - $1,360
Total Monthly Price
Varies
Studio to 1 Bedroom Apartments Available Jun 12

Loring Grove Apartments

125 Oak Grove StMinneapolis, MN 55403
Corporate Housing
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Oak Grove Downtown
$880
Total Monthly Price12 Month Lease Term

Total Monthly Price

Base Rent
$865
Required Monthly Fees
Varies
Total Monthly Price
Varies
Studio Apartments Available Jun 12

Oak Grove Downtown

116 Oak Grove StMinneapolis, MN 55403
Corporate Housing
  • Verified
  • Customer Reviewed
  • Utilities Included
property at 2876 Humboldt Ave S

$885

Total Monthly Price

Total Monthly Price

Base Rent
$885
Total Monthly Price
$885

Studio, 1 Bath Home for Rent

Available Aug 1

2876 Humboldt Ave S

MinneapolisMN55408
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Colfax Villas I
$899 - $1,250
Total Monthly Price12 Month Lease Term

Total Monthly Price

Base Rent
$899 - $1,250
Total Monthly Price
$899 - $1,250
Studio to 2 Bedroom Apartments Available Now

Colfax Villas I

3611 Colfax Ave SMinneapolis, MN 55409
Affordability
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  • Customer Reviewed
  • 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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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: 05/26/2026

Current apartment rentals in the Minneapolis, MN area range in price from $469 to $17,116 with an overall median price of $3,359. The three Minneapolis neighborhoods with the lowest median rent pricing are Central at $950, Douglas Drive North at $995, and North of Maryland at $895. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Minneapolis Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Central$1,150$9508
Douglas Drive North$1,561$99521
North of Maryland$1,604$89573
North St Paul Park$1,611$99928
Northwest New Brighton$1,612$87373
Bald Eagle$1,663$1,02528
38th Avenue North$1,685$90011
Regent Place$1,685$99544
Welcome Park$1,685$900103
Albert Park - Emerson Park$1,693$65235

Cheapest Available Minneapolis Apartments for Rent

 

The cheapest available apartment rental in Minneapolis, MN is a 3 Beds unit found at Radius in the University Of Minnesota neighborhood priced from $495. Allianze Sr. Community in the Twin Lakes 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
RadiusC53BR,2BA$495
Allianze Sr. Community1 Bedroom 1 Bath1BR,1BA$500
Shoreline PlazaStudioStudio,1BA$653
St. Anne's Senior HousingStudioStudio,1BA$655
Bierman PlaceThe Park - By-the-bed2BR,1BA$695
Holmes Park Village2 Bedroom2BR,1BA$723
Remington ApartmentsStudio September Move InStudio,1BA$745
Lilium Apartments and Centennial Place900 Centennial Place StudioStudio,1BA$750
Brentwood Apartments0BR/1.0BAStudio,1BA$752
214 Oak Grove | Origen Living0BR/1.0BAStudio,1BA$772

Best Value Apartments for Rent in Minneapolis, MN

As of May 26, 2026 the best value apartment in the Minneapolis area is the $0.48 price per square foot 6BED Model at The Luxe in the in the Macalester-Groveland neighborhood starting from $845. The second greatest value Minneapolis apartment is the G2: 3 Bedrooms/3 Bathrooms Model at Factory Lofts starting at $776 with a $0.52 price per square foot in the University Of Minnesota 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.
The Luxe6BED6BR,3BA$0.48
Factory LoftsG2: 3 Bedrooms/3 Bathrooms3BR,3BA$0.52
The Marshall3X35A3BR,3.5BA$0.70
Marshall at Finn4B/2B4BR,2BA$0.58
University VillageLarge 2B2B - Private2BR,2BA$0.88
The Bridges DinkytownB112BR,2BA$0.96
Little ModColiving Suite 7981BR,1BA$0.85
Yugo The Sydney at Dinkytown2 Bed, 2 Bath DinkyDome Double2BR,2BA$0.46
Marshall Suites Furnished Luxury ApartmentsLuxury4BR,2BA$0.65
RadiusC23BR,2BA$0.86

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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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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Real Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University

From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.

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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
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  • Local Vibes
  • Restaurants
  • Location
  • Traffic
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  • Cost of Living
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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 $772.

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 $3,359.

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 12,126 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 $436 which is $2,923 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.

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A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back

Written by: Lauren Harrington

I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.

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Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts

Written by: Lauren Harrington

This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.

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What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Written by: Lauren Harrington

This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.

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Maximizing Your Refund: Essential Tax Tips for Renters

Written by: Christine Leonard, Esq.

Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.