Cheap Apartments for Rent in the Downtown Neighborhood of Minneapolis, MN from $400 (198 Rentals)

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Cheap Apartments in the Downtown area of Minneapolis.

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 - 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, MN Local Guide

Cheapest Available Downtown Apartments for Rent

 

The cheapest available apartment rental in the Downtown 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 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
The Remington Campus ApartmentsSTUDIOStudio,1BA$745
Loring Manor ApartmentsStudioStudio,1BA$775
Copenhagen Enterprises1530 LaSalle Ave StudioStudio,1BA$775
Loring Park Flats0BR/1.0BAStudio,1BA$800

Best Value Apartments for Rent in Downtown, MN

As of May 06, 2025 the best value apartment in the Downtown area is the $1.44 price per square foot Top floor 2 br Model at 310 8th St SE in the in the Marcy-Holmes neighborhood starting from $1,295. The second greatest value Downtown apartment is the 1 bed 1 Beth Model at Three-Thirty-Three Oak Grove starting at $950 with a $1.09 price per square foot in the Greater Central neighborhood. Here is today’s list of the best values for Downtown apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
310 8th St SETop floor 2 br2BR,1BA$1.44
Three-Thirty-Three Oak Grove1 bed 1 Beth1BR,1BA$1.09
242 West Franklin Ave1BR/1.0BA1BR,1BA$1.35
FITClassic - One Bedroom1BR,1BA$1.43
225/227/233 Oak Grove St – Oak Grove DowntownTriplets 1 Bedroom1BR,1BA$1.47
St. George ApartmentsStudio-DeluxeStudio ,1BA$1.38
Sela Campus University ApartmentsEfficiencyStudio ,1BA$1.46
Haverhill | Origen Living1BR/1.0BA1BR,1BA$1.39
Loring Grove Apartments1 Bedroom1BR,1BA$1.48
The Remington Campus ApartmentsSTUDIOStudio ,1BA$1.35

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Pet Friendly Lifestyle
Downtown, Minneapolis, MN

Ranked #15

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.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 the Cheapest Studio apartment in Downtown?

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

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

The lowest price for a Cheap One Bedroom Downtown Apartment is $792 at Shoreline Plaza.

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

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

What is the most affordable Downtown Three Bedroom Apartment?

The best deal on a cheap Downtown 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 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.

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Navigating the Rental Market: Tips for First-Time Renters

Written by: Sandy Baker

Making the decision to rent is exciting and terrifying at the same time. For many people, there are a lot of unknowns.

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Rise of Digital Nomads: Remote Work Tips for Apartment Renters

Written by: Brandie Parton

As a digital nomad, you no longer call a set address or office building your home for eight hours of the day or more.