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from $875Studio to 2 Bedroom Apartments Available Now
Wexford Commons Apartments
200-218 W 62nd StMinneapolis, MN 55419
Cheap Apartments for Rent in the Diamond Lake Neighborhood of Minneapolis, MN from $800 (40 Rentals)
Search the lowest-cost Apartments available for rent right now in the Diamond Lake area of Minneapolis.
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from $8951 to 3 Bedroom Apartments Available Jun 1
Bossen Park Apartments
5717 31st Ave SMinneapolis, MN 55417
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from $895Studio to 3 Bedroom Apartments Available Now
Karmel Apartments
99 E 54th StMinneapolis, MN 55419
99 E 54th St
MinneapolisMN55419
5701 Lyndale Ave S
MinneapolisMN55419
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from $9951 Bedroom Apartments Available Jun 1
Creek Terrace Apartments
616 W 53rd StMinneapolis, MN 55419
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from $1,0501 Bedroom Apartments Available Now
5544/5301 Chicago Ave S
5544 Chicago AveMinneapolis, MN 55417
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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from $1,115Studio to 2 Bedroom Apartments Available Now
Woodhaven
6045 Lyndale AveMinneapolis, MN 55419
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from $1,1501 to 2 Bedroom Apartments Available Aug 1
Diamond Pointe Apartments
6106-6116 Lyndale Ave SMinneapolis, MN 55419
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from $1,165Studio to 2 Bedroom Apartments Available Aug 15
Oaks Station Place
3550 E 46th StMinneapolis, MN 55406
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from $1,240Studio to 1 Bedroom Apartments Available Now
Fuller Park Flats
4738 Grand Ave SMinneapolis, MN 55419
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from $1,250Studio to 1 Bedroom Apartments Available Now
Hiawatha Flats
3625 E 43rd StMinneapolis, MN 55406
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from $1,2601 to 2 Bedroom Apartments Available Jun 2
City Limits Apartments
127 E 59th StMinneapolis, MN 55419
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from $1,3002 Bedroom Apartment Available Jul 1
4721 Lyndale Ave S, Unit 2
4721 Lyndale Ave SMinneapolis, MN 55419
4721 Lyndale Ave S
MinneapolisMN55419
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Studio to 2 Bedroom Apartments
Diamond Lake Properties
100-102 W Diamond Lake RdMinneapolis, MN 55419
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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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from $999Studio to 2 Bedroom Apartments Available Now
Portland Terrace
7232 Portland AveRichfield, MN 55423
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from $1,0251 Bedroom Apartments Available Now
Lyndale Garden
6301-6325 Lyndale Ave SRichfield, MN 55423
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from $1,214Studio to 3 Bedroom Apartments Available Now
The Chamberlain Apartments
6630 Richfield PkyRichfield, MN 55423
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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from $1,2202 Bedroom Apartments Available Jun 1
South Pleasant Apartments
6321-6329 Pleasant Ave SRichfield, MN 55423
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Diamond Lake - One of the Best Affordable Neighborhoods in Minneapolis
Named as one of the Best Affordable Areas to rent in Minneapolis by our Minneapolis Local Expert Stephanie Lica. See how it ranks!
Showing Results 1-40, Page 1 of 1
Diamond Lake, Minneapolis, MN Local Guide
Target Field
in Minneapolis by Flickr User: mulad is licensed under CC BY 2.0
How much does it cost to rent an apartment in Diamond Lake?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Diamond Lake Studio Apartments | $1,398 | $875 | $2,109 |
| Diamond Lake 1 Bedroom Apartments | $1,450 | $895 | $2,285 |
| Diamond Lake 2 Bedroom Apartments | $1,888 | $1,220 | $3,635 |
| Diamond Lake 3 Bedroom Apartments | $2,117 | $1,450 | $3,195 |
| Diamond Lake 4 Bedroom Apartments | $1,950 | $1,950 | $1,950 |
Browse Apartments in this Neighborhood
There are currently 40 rentals with your search options within a 2 mile radius of the Diamond Lake Neighborhood of Minneapolis, MN.
See all Apartments in MinneapolisExplore Minneapolis
Diamond Lake, Minneapolis, MN Local Guide
- Nearby Minneapolis neighborhoods
- Nearby Cities
- ZIP codes
- Local Counties
- School Districts
Cheapest Available Diamond Lake Apartments for Rent
The cheapest available apartment rental in the Diamond Lake area of Minneapolis, MN is a Studio unit found at Karmel Apartments priced from $895. Portland Terrace has the second lowest priced unit, which is a Studio apartment currently listed from $999. Here are the most affordable Diamond Lake apartments for rent in Minneapolis, MN:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Karmel Apartments | Studio | Studio,1BA | $895 |
| Portland Terrace | Studio | Studio,1BA | $999 |
| Lyndale Garden | 1 Bedroom Large | 1BR,1BA | $1,025 |
| 5544/5301 Chicago Ave S | 5600 Nicollet | 1BR,1BA | $1,075 |
| Woodlake Park | Lynwood | 1BR,1BA | $1,140 |
| The Chamberlain Apartments | S3 | Studio,1BA | $1,234 |
| Hiawatha Flats | SA | Studio,1BA | $1,250 |
| Wexford Commons Apartments | 2 Bedroom | 2BR,1BA | $1,275 |
| Rya Apartments | Angora | Studio,1BA | $1,307 |
| Lynvue Apartments | Cove AA1 | Studio,1BA | $1,345 |
Best Value Apartments for Rent in Diamond Lake, MN
As of May 30, 2025 the best value apartment in the Diamond Lake area is the $2.30 price per square foot 2BR Penthouse - PH1 Model at The Aubrey in the in the Powderhorn neighborhood starting from $3,295. The second greatest value Diamond Lake apartment is the 3BR/1.0BA Model at NIC 44 starting at $1,899 with a $1.90 price per square foot in the Armatage neighborhood. Here is today’s list of the best values for Diamond Lake apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| The Aubrey | 2BR Penthouse - PH1 | 2BR,2BA | $2.30 |
| NIC 44 | 3BR/1.0BA | 3BR,1BA | $1.90 |
| Woodhaven | A3R | 1BR,1BA | $1.97 |
| Wexford Commons Apartments | 2 Bedroom | 2BR,1BA | $1.70 |
| Woodlake Park | Lynwood | 1BR,1BA | $1.69 |
| 5544/5301 Chicago Ave S | 5600 Nicollet | 1BR,1BA | $1.59 |
| Hiawatha Flats | SA | Studio ,1BA | $2.20 |
| Lyndale Garden | 1 Bedroom | 1BR,1BA | $2.01 |
| The Chamberlain Apartments | S3 | Studio ,1BA | $2.42 |
| Karmel Apartments | Studio | Studio ,1BA | $2.24 |
Quick Rent Budget Calculator
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Pet Friendly LifestyleDiamond Lake, Minneapolis, MN
Ranked #117
Among neighborhoods in Minneapolis, MN for Apartment listings with Pet Friendly Amenities
Pet Friendliness Lifestyle Score
4.0Pet Friendly
Getting Around the Diamond Lake Neighborhood in Minneapolis, MN
Walk Score®
53 / 100
Somewhat Walkable
Some errands can be accomplished on foot
Bike Score®
68 / 100
Bikeable
Some bike infrastructure
Transit Score®
45 / 100
Some Transit
A few 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.
Frequently Asked Questions about Cheap Diamond Lake Apartments
What is the Cheapest Studio apartment in Diamond Lake?
Currently the most affordable Cheap Studio Apartment in Diamond Lake is at Karmel Apartments listed at $895.
How much is rent for a Cheap One Bedroom Diamond Lake Apartment?
The lowest price for a Cheap One Bedroom Diamond Lake Apartment is $1,025 at Lyndale Garden.
What is the lowest price for a Cheap Two Bedroom Diamond Lake Apartment for rent?
Today's best deal for a Cheap Two Bedroom Apartment in Diamond Lake is starting from $1,275 at Wexford Commons Apartments.
What is the most affordable Diamond Lake Three Bedroom Apartment?
The best deal on a cheap Diamond Lake Three Bedroom Apartment rental is at Karmel Apartments and starts from $1,800.
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.
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.
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.
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.
The Freedom of Short-Term Leases: Exploring the Advantages for Renters
Written by: Bobbi Jackson
If you’re looking to relocate right now, a popular solution that may best fit your current rental needs is a short-term lease.