Cheap Homes for Rent in Downtown Minneapolis Neighborhood of Minneapolis, MN from $700 (9 Rentals)

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Search the lowest-cost Homes 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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property at 431 S 7th St

431 S 7th St

MinneapolisMN55415
property at 433 S 7th St

433 S 7th St

MinneapolisMN55415
property at 1204 Harmon Pl

1204 Harmon Pl

MinneapolisMN55403

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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property at 433 S 7th St

433 S 7th St

MinneapolisMN55415
Showing Results 1-9, Page 1 of 1

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

Best Value Apartments for Rent in Downtown Minneapolis, MN

As of May 31, 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 Van Brocklin - 1 Bedroom Model at East Town Apartments starting at $1,082 with a $1.47 price per square foot in the Greater Central 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
East Town ApartmentsVan Brocklin - 1 Bedroom1BR,1BA$1.47
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
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

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.

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Frequently Asked Questions about Downtown Minneapolis

What type of rentals are currently available in Downtown Minneapolis?

There are currently 457 Apartments for Rent in Downtown Minneapolis, MN with pricing that ranges from $653 to $13,079. There are also 44 Single Family Homes for rent, Condos, and Townhome rentals currently available in Downtown Minneapolis ranging from $750 to $5,495.

What is the current price range for Rental Homes in Downtown Minneapolis?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Downtown Minneapolis ranges from $750 to $5,495 with an average monthly rent of $1,939.

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.

decorative image for A Local Expert’s Guide To the Top 10 Budget-Friendly Neighborhoods to Rent in Minneapolis article

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.