6500 Woodlake Dr, Unit 1013
6500 Woodlake Dr
RichfieldMN55423
Cheap Homes for Rent in Diamond Lake Neighborhood of Minneapolis, MN from $1,100 (6 Rentals)
Search the lowest-cost Homes available for rent right now in the Diamond Lake area of Minneapolis.
4335 Cedar Ave S
MinneapolisMN55407
517 W 74th St
MinneapolisMN55423
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.
6109-6111 Nicollet Ave
MinneapolisMN55419
6615 Lake Shore Dr S, Unit #900
6615 Lake Shore Dr S
MinneapolisMN55423
4304 Cedar Ave S
MinneapolisMN55407
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.
Showing Results 1-6, 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 a home in Diamond Lake?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Diamond Lake 2 Bedroom Homes for Rent | $1,681 | $1,595 | $1,800 |
| Diamond Lake 3 Bedroom Homes for Rent | $2,374 | $2,000 | $2,750 |
| Diamond Lake 4 Bedroom Homes for Rent | $3,900 | $3,900 | $3,900 |
| Diamond Lake 5 Bedroom Homes for Rent | $19,500 | $10,000 | $10,000+ |
Browse Homes for Rent in this Neighborhood
There are currently 6 rentals with your search options within a 2 mile radius of the Diamond Lake Neighborhood of Minneapolis, MN.
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Diamond Lake, Minneapolis, MN Local Guide
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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 |
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 $2.11 price per square foot 2BR Penthouse - PH1 Model at The Aubrey in the in the Powderhorn neighborhood starting from $3,021. The second greatest value Diamond Lake apartment is the J 3 Bedroom 2 Bathroom Model at Lyndale Plaza Apartments starting at $2,200 with a $1.64 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 | $2.11 |
| Lyndale Plaza Apartments | J 3 Bedroom 2 Bathroom | 3BR,2BA | $1.64 |
| NIC 44 | 3BR/1.0BA | 3BR,1BA | $1.90 |
| Wexford Commons Apartments | 2 Bedroom | 2BR,1BA | $1.70 |
| Woodhaven | A3R | 1BR,1BA | $1.96 |
| 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 |
| Karmel Apartments | Studio | Studio ,1BA | $2.24 |
Quick Rent Budget Calculator
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Frequently Asked Questions about Diamond Lake
What type of rentals are currently available in Diamond Lake?
There are currently 188 Apartments for Rent in Diamond Lake, MN with pricing that ranges from $875 to $3,635. There are also 15 Single Family Homes for rent, Condos, and Townhome rentals currently available in Diamond Lake ranging from $1,150 to $19,500.
What is the current price range for Rental Homes in Diamond Lake?
Today's rental pricing for Homes for Rent, Condos and Townhomes in Diamond Lake ranges from $1,150 to $19,500 with an average monthly rent of $5,740.
How much are larger Three and Four Bedroom Rentals in Diamond Lake?
For those who are looking for larger living arrangements, Three Bedroom Apartments in Diamond Lake range from $1,450 to $3,195, while Three Bedroom Homes, Condos, and Townhomes for rent range from $2,000 to $2,750. Four Bedroom Single-Family rentals are also available starting from $3,900 and Four Bedroom Apartments start at $1,950.
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.