Cheap Apartments for Rent in the Downtown Minneapolis Neighborhood of Minneapolis, MN from $500 (179 Rentals)

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

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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Downtown Minneapolis - 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!

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Downtown Minneapolis, Minneapolis, MN Local Guide

Cheapest Available Downtown Minneapolis Apartments for Rent

 

The cheapest available apartment rental in the Downtown Minneapolis area of Minneapolis, MN is a Studio unit found at Paige Hall priced from $551. Shoreline Plaza has the second lowest priced unit, which is a Studio apartment currently listed from $653. Here are the most affordable Downtown Minneapolis apartments for rent in Minneapolis, MN:

Apartment ListingModel NameBed/BathPriced From
Paige HallEfficiencyStudio,1BA$551
Shoreline PlazaStudioStudio,1BA$653
Buri ManorEfficiencyStudio,1BA$699
Stevens Community ApartmentsStudioStudio,1BA$700
The BalmoralEfficiencyStudio,1BA$718
Holmes Park Village2 Bedroom2BR,1BA$723
Brentwood | Origen Living1BR/1.0BA1BR,1BA$745
The Remington Campus ApartmentsSTUDIOStudio,1BA$745
Copenhagen Enterprises1525 LaSalle Ave StudioStudio,1BA$750
Loring Manor ApartmentsStudioStudio,1BA$775

Best Value Apartments for Rent in Downtown Minneapolis, MN

As of June 02, 2025 the best value apartment in the Downtown Minneapolis area is the $1.09 price per square foot 1 bed 1 Beth Model at Three-Thirty-Three Oak Grove in the in the Greater Central neighborhood starting from $950. The second greatest value Downtown Minneapolis apartment is the Unit 8 Model at 409 University Ave SE starting at $1,050 with a $1.50 price per square foot in the Downtown West neighborhood. Here is today’s list of the best values for Downtown Minneapolis apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Three-Thirty-Three Oak Grove1 bed 1 Beth1BR,1BA$1.09
409 University Ave SEUnit 81BR,1BA$1.50
225/227/233 Oak Grove St – Oak Grove DowntownTriplets 1 Bedroom1BR,1BA$1.40
St. George ApartmentsStudio-DeluxeStudio ,1BA$1.46
Sela Campus University ApartmentsEfficiencyStudio ,1BA$1.46
1786 Hennepin Ave S, Unit 111786 Hennepin Ave S1BR,1BA$1.59
Haverhill | Origen Living1BR/1.0BA1BR,1BA$1.56
Yale Place Apartments1 Bedroom1BR,1BA$1.54
The Remington Campus ApartmentsSTUDIOStudio ,1BA$1.35
Stevens Community ApartmentsStudioStudio ,1BA$1.40

Quick Rent Budget Calculator

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Pet Friendly Lifestyle
Downtown Minneapolis, Minneapolis, MN

Ranked #13

Among neighborhoods in Minneapolis, MN for Apartment listings with Pet Friendly Amenities

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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Lifestyle Ratings

ApartmentHomeLiving brings you our detailed rental analysis called 'Lifestyle Ratings' - a comparison of neighborhoods, cities, and rental properties across Minnesota and customized analysis for Central Minneapolis. LifeStyle Ratings are a useful tool for comparing and sorting apartments and neighborhoods when choosing your rental home. This takes in many factors including searching for the best amenities, and convenient access to the outdoors, transit availability, pet-friendly communities, family-friendly amenities, and much more. Find Lifestyle Search in the filter options (above). Happy Searching!

Frequently Asked Questions about Cheap Downtown Minneapolis Apartments

What is the Cheapest Studio apartment in Downtown Minneapolis?

Currently the most affordable Cheap Studio Apartment in Downtown Minneapolis is at Paige Hall listed at $551.

How much is rent for a Cheap One Bedroom Downtown Minneapolis Apartment?

The lowest price for a Cheap One Bedroom Downtown Minneapolis Apartment is $745 at Brentwood | Origen Living.

What is the lowest price for a Cheap Two Bedroom Downtown Minneapolis Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Downtown Minneapolis is starting from $723 at Holmes Park Village.

What is the most affordable Downtown Minneapolis Three Bedroom Apartment?

The best deal on a cheap Downtown Minneapolis Three Bedroom Apartment rental is at Holmes Park Village and starts from $792.

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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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.

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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.