
Cheap New Apartments for Rent in Minneapolis, MN from $300 (218 Rentals)
Search the lowest-cost Apartments available for rent right now in Minneapolis.


Overland Apartments

29 Bryant Apartments

Ladder 260

Nico East

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CityLine

Gateway Northeast

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Timber & Tie

Marquee

The Redwell
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.

Aberdeen Apartments

Odie Apartments

Everlake Apartments

Sanctuary Lofts

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Lago Apartments

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Miro

PURE Lowry

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Lumos Apartments

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The Bessemer at Seward Commons

Jax Apartments
First Apartment Regrets: Real Renters Share What They'd Do Differently
Your first apartment comes with a learning curve nobody warns you about. Hear from real renters who've been there and get the advice they wish someone had given them on day one.

Midwell

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Wakpada Apartments

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The Whit

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B-Side

Akin Apartments

Artistry on 10th

Dakar on Lake

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Lake Street Dwelling

North Creek

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Rosa
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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Mill City Quarter

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The Theodore Apartments 55+

Deco 265

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Flats at Malcolm Yards

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Rym Apartments

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Oaks Minnehaha Longfellow

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Nox Apartments

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Huck Apartments

The Asher

1000 Main
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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Rafter

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Arrive Loring Park

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Luna Apartments

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Satori Apartments

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Southsider

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MODI

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MOD42 Apartments

The Endurance

The Palmer

Lyndy Apartments
Rent According to Income: A Look at Income-Restricted Rentals
Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.
Minneapolis, MN Local Guide

How much does it cost to rent an apartment in Minneapolis?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Minneapolis Studio Apartments | $1,323 | $635 | $2,439 |
| Minneapolis 1 Bedroom Apartments | $1,656 | $650 | $6,729 |
| Minneapolis 2 Bedroom Apartments | $2,206 | $280 | $10,000+ |
| Minneapolis 3 Bedroom Apartments | $2,603 | $739 | $10,000+ |
| Minneapolis 4 Bedroom Apartments | $2,460 | $649 | $7,906 |
| Minneapolis 5 Bedroom Apartments | $3,167 | $650 | $6,643 |
Browse Top Apartments in Minneapolis
See all Apartments in MinneapolisExplore Minneapolis
Minneapolis, MN Local Guide
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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.
Read ArticleEnjoy 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.
Read ArticleReal 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.
Read ArticleQuick Rent Budget Calculator
How much rent can you afford?
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.
Remember the 3 Rules of Real Estate:Location, Location, Location!
Explore Minneapolis, MN Rentals by Map
See the most popular apartments and homes in Minneapolis, MN
Minneapolis, MN Area Reviews
Stephanie • 4+ years in Minneapolis
February 25, 2025A 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 $750.
What is the price of a cheap apartment in Minneapolis?
The cheapest apartment in Minneapolis is Peregrine which is listed at $645, while the average apartment in Minneapolis costs $1,698.
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 8,994 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 $460 which is $1,238 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

Authentic Minneapolis: An Insider's 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.

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.

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.

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.
Articles, How-To's, and Tips

First Apartment Regrets: Real Renters Share What They'd Do Differently
Written by: Robin Stewart
Hindsight is 20/20. Live and Learn. With age comes wisdom. We’re familiar with all those expressions, and all of them apply to lessons first-time renters learn.

Renters Insurance 101: What It Is, What It Covers, and Why You Need It
Written by: Robin Stewart
Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.

Apartment Occupancy Rates: Renter Attraction vs Renter Retention
Written by: Robin Stewart
There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.

How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide
Written by: Robin Stewart
Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.