406 5th St SE
MinneapolisMN55414
Cheap Apartments for Rent in the Downtown Neighborhood of Minneapolis, MN from $400 (236 Rentals)
Search the lowest-cost Apartments available for rent right now in the Downtown area of Minneapolis.
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$653 - $1,325
Plus Fees
Studio to 1 Bedroom Apartments Available NowShoreline Plaza
15 E Grant StMinneapolis, MN 55403
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$725 - $1,695
Plus Fees1 Month Lease Term
Studio to 3 Bedroom Apartments Available NowRose
1928 Portland AveMinneapolis, MN 55404
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$742 - $762
Total Monthly Price
Studio Apartments Available NowTotal Monthly Price
Base Rent
$725 - $745
Required Monthly Fees
$17
Total Monthly Price
$742 - $762
Brentwood Apartments
117-127 W Grant StMinneapolis, MN 55403
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Rent Specials
$745 - $1,300
Total Monthly Price12 Month Lease Term
Studio to 2 Bedroom Apartments Available SoonTotal Monthly Price
Base Rent
$745 - $1,300
Total Monthly Price
$745 - $1,300
Remington Apartments
708 5th St SEMinneapolis, MN 55414
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$750 - $1,050
Plus Fees12 Month Lease Term
Studio to 1 Bedroom Apartments Available NowCopenhagen Enterprises
26 Oak Grove StMinneapolis, MN 55403
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$750 - $925
Plus Fees6 Month Lease Term
Studio Apartments Available NowLilium Apartments and Centennial Place
706 9th St SMinneapolis, MN 55404
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Rent Specials
$782 - $932
Total Monthly Price
Studio to 1 Bedroom Apartments Available NowTotal Monthly Price
Base Rent
$765 - $915
Required Monthly Fees
$17
Total Monthly Price
$782 - $932
Haverhill Apartments
32-34 Spruce PlMinneapolis, MN 55403
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$795 - $2,200
Plus Fees
Studio to 3 Bedroom Apartments Available NowStevens Community Apartments
128 E 18th StMinneapolis, MN 55403
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$796 - $1,361
Plus Fees12 Month Lease Term
Studio to 2 Bedroom Apartments Available NowStradford Flats
16 E 15th StMinneapolis, MN 55403
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.
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$799
Plus Fees
Studio Apartments Available NowSt. George Apartments
137 E 17th StMinneapolis, MN 55403
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Rent Specials
$800 - $975
Plus Fees
1 Bedroom Apartments Available NowSpruce Place Apartments
1365 Spruce PlMinneapolis, MN 55403
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Rent Specials
$800 - $1,056
Plus Fees12 Month Lease Term
Studio to 1 Bedroom Apartments Available NowThe Roselle
910 Portland Ave SMinneapolis, MN 55404
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$810 - $1,025
Plus Fees12 Month Lease Term
Studio to 1 Bedroom Apartments Available NowLoring Manor Apartments
1512-1518 Spruce PlMinneapolis, MN 55403
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$820 - $910
Plus Fees
Studio to 1 Bedroom Apartments Available Aug 31The Park Apartments
1430 Spruce PlMinneapolis, MN 55403
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$820 - $1,140
Plus Fees
Studio Apartments Available Oct 1Stage Apartments, LLC
814-816 Hennepin AveMinneapolis, MN 55403
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$825 - $1,280
Plus Fees12 Month Lease Term
Studio to 2 Bedroom Apartments Contact Us For AvailabilitySt. Anthony Village
320 7th St SEMinneapolis, MN 55414
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$835 - $1,150
Plus Fees1 Month Lease Term
Studio to 1 Bedroom Apartments Available NowBest Apartments
2006-2008 Park AveMinneapolis, MN 55404
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$845 - $1,200
Plus Fees
Studio to 1 Bedroom Apartments Available NowThe Commodore
1417 LaSalle AveMinneapolis, MN 55403
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$845 - $1,400
Plus Fees
Studio to 2 Bedroom Apartments Available NowThe Parkway Apartments
1501 Lasalle AveMinneapolis, MN 55403
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.
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$850 - $950
Plus Fees
Studio to 1 Bedroom Apartments Available Aug 21Loring Park Flats
330 Oak Grove StMinneapolis, MN 55403
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$850 - $1,085
Plus Fees12 Month Lease Term
Studio to 1 Bedroom Apartments Available NowHawthorne Gates
1205 Hawthorne AveMinneapolis, MN 55403
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$850 - $1,300
Plus Fees12 Month Lease Term
Studio to 2 Bedroom Apartments Available Sep 1409 University Ave SE
409 University Ave SEMinneapolis, MN 55414
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$850 - $1,025
Total Monthly Price12 Month Lease Term
Studio to 1 Bedroom Apartments Available Oct 8Total Monthly Price
Base Rent
$850 - $1,025
Total Monthly Price
Varies
Loring Grove Apartments
125 Oak Grove StMinneapolis, MN 55403
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$860 - $1,314
Total Monthly Price12 Month Lease Term
Studio to 2 Bedroom Apartments Available NowTotal Monthly Price
Base Rent
$845 - $1,299
Required Monthly Fees
Varies
Total Monthly Price
Varies
225–233 Oak Grove – Oak Grove Downtown
233 Oak Grove StMinneapolis, MN 55403
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$860 - $875
Total Monthly Price12 Month Lease Term
Studio Apartments Available Sep 11Total Monthly Price
Base Rent
$845 - $860
Required Monthly Fees
Varies
Total Monthly Price
Varies
Oak Grove Downtown
116 Oak Grove StMinneapolis, MN 55403
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$879 - $940
Plus Fees12 Month Lease Term
Studio to 1 Bedroom Apartments Available NowCromwell Commons
10 E 15th StMinneapolis, MN 55403
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Rent Specials
$895 - $1,575
Plus Fees12 Month Lease Term
Studio to 2 Bedroom Apartments Available NowAbbott Apartments
110 18th St EMinneapolis, MN 55403
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$895 - $1,450
Plus Fees
1 to 2 Bedroom Apartments Contact Us For AvailabilityGrove 94
215 Oak Grove StMinneapolis, MN 55403
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$900 - $925
Total Monthly Price12 Month Lease Term
Studio Apartments Available Sep 1Total Monthly Price
Base Rent
$850 - $875
Required Monthly Fees
$50
Total Monthly Price
$900 - $925
The Villa Apartments
1111 S 7th StMinneapolis, MN 55415
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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Rent Specials
$900 - $1,250
Plus Fees12 Month Lease Term
Studio to 1 Bedroom Apartments Available NowBlue Goose Cooperative
1819 5th St SMinneapolis, MN 55454
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$903 - $953
Total Monthly Price
Studio Apartments Available NowTotal Monthly Price
Base Rent
$899 - $949
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225 Place Apartments
225 W 15th StMinneapolis, MN 55403
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$920 - $1,420
Plus Fees
Studio to 1 Bedroom Apartments Available NowThe Buckingham Apartments
1500 LaSalle AveMinneapolis, MN 55403
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Rent Specials
$925 - $1,010
Plus Fees12 Month Lease Term
Studio to 1 Bedroom Apartments Available NowOak Grove Apartment Hotel
230 Oak Grove StMinneapolis, MN 55403
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$949 - $1,200
Total Monthly Price12 Month Lease Term
Studio to 1 Bedroom Apartments Available NowTotal Monthly Price
Base Rent
$949 - $1,200
Total Monthly Price
$949 - $1,200
Campus Apartments 700-727 University SE
701 University Ave SEMinneapolis, MN 55414
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$950 - $1,500
Plus Fees12 Month Lease Term
1 to 2 Bedroom Apartments Available NowThree-Thirty-Three Oak Grove
333 Oak Grove StMinneapolis, MN 55403
220 E 19th St
MinneapolisMN55403
1920 Stevens Ave, Unit 5
1920 Stevens Ave
MinneapolisMN55403
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$965 - $1,862
Total Monthly Price12 Month Lease Term
Studio to 2 Bedroom Apartments Available NowTotal Monthly Price
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$965 - $1,862
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Five15 on the Park
515 15th Ave SMinneapolis, MN 55454
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$979 - $1,328
Plus Fees
Studio to 1 Bedroom Apartments Available Sep 3Ladder 260
260 Portland AveMinneapolis, MN 55415
Downtown - 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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$990 - $1,160
Total Monthly Price12 Month Lease Term
Studio to 1 Bedroom Apartments Available Oct 9Total Monthly Price
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$975 - $1,145
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1400–1408 Spruce Pl – Oak Grove Downtown
1400-1408 Spruce PlMinneapolis, MN 55403
431 S 7th St
MinneapolisMN55415
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$1,000
Total Monthly Price12 Month Lease Term
Studio Apartments Available NowTotal Monthly Price
Base Rent
$950
Required Monthly Fees
$50
Total Monthly Price
$1,000
Studios at 7 Corners
1414 S 3rd StMinneapolis, MN 55454
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$1,014 - $1,684
Total Monthly Price
Studio to 1 Bedroom Apartments Available NowTotal Monthly Price
Base Rent
$999 - $1,669
Required Monthly Fees
$15
Total Monthly Price
$1,014 - $1,684
LaSalle Apartments
36 S 9th StMinneapolis, MN 55402
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$1,020 - $1,475
Plus Fees12 Month Lease Term
Studio to 2 Bedroom Apartments Available NowSt Anthony Mills Apartments
720 Washington Ave SMinneapolis, MN 55415
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$1,044 - $1,249
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Studio to 2 Bedroom Apartments Available NowTotal Monthly Price
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$1,040 - $1,245
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City Place Lofts
730 Hennepin AveMinneapolis, MN 55403
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$1,056 - $1,187
Plus Fees
Studio to 1 Bedroom Apartments Available NowThe Elms
1400-1420 Portland AveMinneapolis, MN 55404
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Rent Specials
$1,057 - $1,888
Plus Fees
Studio to 2 Bedroom Apartments Available NowNico East
1725 Nicollet AveMinneapolis, MN 55403
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$1,059 - $3,075
Plus Fees
Studio to 2 Bedroom Apartments Available NowMarquee
1410 Nicollet AveMinneapolis, MN 55403
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$1,080 - $1,480
Total Monthly Price
Studio to 2 Bedroom Apartments Available NowTotal Monthly Price
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$925 - $1,325
Required Monthly Fees
Varies
Total Monthly Price
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242 West Franklin Ave
242 W Franklin AveMinneapolis, MN 55404
Renters Insurance 101: What It Is, What It Covers, and Why You Need It
From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.
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Downtown, 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 Downtown?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Downtown Studio Apartments | $1,302 | $653 | $2,584 |
| Downtown 1 Bedroom Apartments | $1,746 | $782 | $6,639 |
| Downtown 2 Bedroom Apartments | $2,680 | $907 | $9,028 |
| Downtown 3 Bedroom Apartments | $3,345 | $1,325 | $9,303 |
| Downtown 4 Bedroom Apartments | $2,876 | $2,000 | $5,341 |
Note: Properties with the Total Monthly Price badge include all required fees. Hover over the badge for details.
Browse Apartments in this Neighborhood
There are currently 236 rentals with your search options within a 2 mile radius of the Downtown Neighborhood of Minneapolis, MN.
See all Apartments in MinneapolisExplore Minneapolis
Downtown, Minneapolis, MN Local Guide
- Nearby Minneapolis neighborhoods
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Cheapest Available Downtown Apartments for Rent
The cheapest available apartment rental in the Downtown area of Minneapolis, MN is a Studio unit found at Shoreline Plaza priced from $653. Holmes Park Village has the second lowest priced unit, which is a 2 Beds apartment currently listed from $723. Here are the most affordable Downtown apartments for rent in Minneapolis, MN:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Shoreline Plaza | Studio | Studio,1BA | $653 |
| Holmes Park Village | 2 Bedroom | 2BR,1BA | $723 |
| Brentwood Apartments | 0BR/1.0BA | Studio,1BA | $742 |
| Copenhagen Enterprises | 1815 First Ave Studio | Studio,1BA | $750 |
| Lilium Apartments and Centennial Place | 900 Centennial Place Studio | Studio,1BA | $750 |
| 214 Oak Grove | Origen Living | 0BR/1.0BA | Studio,1BA | $772 |
| Monadnock Apartments | 0 Beds, 1 Baths | Studio,1BA | $775 |
| Haverhill Apartments | 1BR/1.0BA | 1BR,1BA | $782 |
| Stevens Community Apartments | Studio | Studio,1BA | $795 |
| Stradford Flats | Studio | Studio,1BA | $796 |
Best Value Apartments for Rent in Downtown, MN
As of August 20, 2026 the best value apartment in the Downtown area is the $1.54 price per square foot 2BR/2.5BA Model at Phoenix North Loop in the in the Greater Central neighborhood starting from $2,599. The second greatest value Downtown apartment is the The Metropolitan Model at Minnehaha 94 starting at $1,582 with a $1.42 price per square foot in the Cedar-Riverside neighborhood. Here is today’s list of the best values for Downtown apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Phoenix North Loop | 2BR/2.5BA | 2BR,2.5BA | $1.54 |
| Minnehaha 94 | The Metropolitan | 2BR,2BA | $1.42 |
| Three-Thirty-Three Oak Grove | 2bed 2bath with large deck | 2BR,2BA | $1.36 |
| Riverside Homes | The Basswood | 1BR,1BA | $1.53 |
| Campus Apartments 700-727 University SE | 1 bd renovated | 1BR,1BA | $1.60 |
| St. George Apartments | Studio-Deluxe | Studio ,1BA | $1.23 |
| 728 East 16th Street (New Town) | 1BR/1.0BA | 1BR,1BA | $1.55 |
| Remington Apartments | Studio September Move In | Studio ,1BA | $1.35 |
| Spruce Place Apartments | 1 Bed | 1BR,1BA | $1.45 |
| Stevens Community Apartments | Studio | Studio ,1BA | $1.59 |
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 Article
Enjoy 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.
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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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If you’re an expert on all things Downtown, tell us what you love (and don't) by rating it and writing a review.
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Pet Friendly LifestyleDowntown, Minneapolis, MN
Ranked #15
Among cities in Minnesota for Apartment listings with Pet Friendly Amenities.
Pet Friendliness Lifestyle Score
4.0Pet Friendly
Lifestyle Ratings
ApartmentHomeLiving.com is happy to bring you Lifestyle Ratings of neighborhoods, cities, and rental properties across Minnesota, including 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 rankings of the best places for convenient access to the outdoors, luxury amenities, pet-friendly features, places to raise kids, proximity to transit, and how walkable or bikeable each community and area is. These search options are in the site filters at the top of this page.
Frequently Asked Questions about Cheap Downtown Apartments
What is a cheap apartment in Downtown?
A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Downtown is under $796.
What is the price of a cheap apartment in Downtown?
The cheapest apartment in Downtown is Haverhill Apartments which is listed at $782, while the average apartment in Downtown costs $1,783.
What types of apartments are the cheapest in Downtown?
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 157 regular apartments in Downtown 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 Downtown?
Cheap apartments in Downtown have an average cost of $816 which is $967 cheaper than the average rent for all rentals in Downtown.
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
Rent According to Income: A Look at Income-Restricted Rentals
Written by: Robin Stewart
The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.
Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags
Written by: Robin Stewart
Renters want to find a great apartment, the right place for them, one that checks all the boxes of location, rental cost, amenities, safety, and more.
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.