514 5th Ave SE
MinneapolisMN55414
Cheap Apartments for Rent in the Downtown Neighborhood of Minneapolis, MN from $400 (222 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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$675 - $1,200
Plus Fees12 Month Lease Term
Studio to 2 Bedroom Apartments Available NowCopenhagen Enterprises
26 Oak Grove 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 - $752
Total Monthly Price
Studio Apartments Available Apr 15Total Monthly Price
Base Rent
$725 - $735
Required Monthly Fees
$17
Total Monthly Price
$742 - $752
Brentwood Apartments
117-127 W Grant StMinneapolis, MN 55403
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$745 - $1,300
Total Monthly Price12 Month Lease Term
Studio to 2 Bedroom Apartments Available NowTotal Monthly Price
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$745 - $1,300
Total Monthly Price
$745 - $1,300
Remington Apartments
708 5th St SEMinneapolis, MN 55414
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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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$750 - $1,350
Plus Fees12 Month Lease Term
Studio to 2 Bedroom Apartments Available NowSela Campus University Apartments
701 University Ave SEMinneapolis, MN 55414
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$767 - $1,062
Total Monthly Price
Studio to 2 Bedroom Apartments Available NowTotal Monthly Price
Base Rent
$750 - $1,045
Required Monthly Fees
$17
Total Monthly Price
$767 - $1,062
Haverhill Apartments
32-34 Spruce PlMinneapolis, MN 55403
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$775 - $975
Plus Fees12 Month Lease Term
Studio to 1 Bedroom Apartments Available NowLoring Manor Apartments
1512-1518 Spruce PlMinneapolis, MN 55403
Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between
Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.
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$795 - $1,110
Plus Fees
Studio Apartments Contact Us For AvailabilityStage Apartments, LLC
814-816 Hennepin AveMinneapolis, MN 55403
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$795 - $1,500
Plus Fees
Studio to 2 Bedroom Apartments Available NowStevens Community Apartments
128 E 18th 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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$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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$813 - $1,145
Plus Fees12 Month Lease Term
Studio to 2 Bedroom Apartments Available NowStradford Flats
16 E 15th StMinneapolis, MN 55403
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$825 - $1,400
Plus Fees
Studio to 2 Bedroom Apartments Available NowThe Parkway Apartments
1501 Lasalle AveMinneapolis, MN 55403
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Rent Specials
$825 - $910
Plus Fees
Studio to 1 Bedroom Apartments Available NowThe Park Apartments
1430 Spruce PlMinneapolis, 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 - $1,040
Plus Fees1 Month Lease Term
Studio to 1 Bedroom Apartments Available NowBest Apartments
2006-2008 Park AveMinneapolis, MN 55404
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$840 - $990
Total Monthly Price12 Month Lease Term
1 Bedroom Apartments Available NowTotal Monthly Price
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$825 - $975
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The Triplets
233 Oak Grove StMinneapolis, MN 55403
Roommate Matching: Finding the Right Fit and Avoiding Pitfalls
When searching for a roommate, follow this list of essential steps and set clear expectations to create a solid foundation for a harmonious living situation.
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Rent Specials
$840 - $990
Total Monthly Price12 Month Lease Term
1 Bedroom Apartments Available Apr 10Total Monthly Price
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$825 - $975
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1400-1408 Spruce Pl
1400-1408 Spruce PlMinneapolis, MN 55403
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$840 - $990
Total Monthly Price12 Month Lease Term
1 Bedroom Apartments Available Apr 10Total Monthly Price
Base Rent
$825 - $975
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Oak Grove Downtown
116 Oak Grove StMinneapolis, MN 55403
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$849 - $899
Plus Fees
Studio Apartments Available NowSt. George Apartments
137 E 17th StMinneapolis, MN 55403
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$850 - $1,875
Plus Fees12 Month Lease Term
Studio to 3 Bedroom Apartments Available NowBlue Goose Cooperative
1819 5th St SMinneapolis, MN 55454
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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 - $950
Plus Fees
Studio to 1 Bedroom Apartments Available NowLoring Park Flats
330 Oak Grove StMinneapolis, MN 55403
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Rent Specials
$875 - $935
Plus Fees12 Month Lease Term
Studio Apartments Available NowOak Grove Apartment Hotel
230 Oak Grove StMinneapolis, MN 55403
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Rent Specials
$890
Total Monthly Price12 Month Lease Term
Studio Apartments Available Apr 10Total Monthly Price
Base Rent
$890
Total Monthly Price
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Loring Grove Apartments
125 Oak Grove StMinneapolis, 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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$8951 Bedroom Apartments Available Now
1818 La Salle Ave
1818 La Salle AveMinneapolis, 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.
706 S 9th St
MinneapolisMN55404
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$899 - $1,099
Total Monthly Price12 Month Lease Term
1 Bedroom Apartments Available NowTotal Monthly Price
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$899 - $1,099
Total Monthly Price
$899 - $1,099
The Jameson Apartments
606 E 15th StMinneapolis, MN 55404
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$899
Plus Fees
Studio Apartments Available NowThe Commodore
1417 LaSalle AveMinneapolis, MN 55403
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Rent Specials
$903 - $1,283
Total Monthly Price
Studio to 1 Bedroom Apartments Available NowTotal Monthly Price
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$899 - $1,279
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214 Place Apartments
214 W 15th StMinneapolis, MN 55403
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$935 - $3,313
Plus Fees
Studio to 3 Bedroom Apartments Available NowLoring Park
1300 Yale PlMinneapolis, MN 55403
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$945
Total Monthly Price12 Month Lease Term
Studio Apartments Available Apr 27Total Monthly Price
Base Rent
$895
Required Monthly Fees
$50
Total Monthly Price
$945
The Villa Apartments
1111 S 7th StMinneapolis, MN 55415
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$950 - $1,000
Plus Fees12 Month Lease Term
1 Bedroom Apartments Available NowThree-Thirty-Three Oak Grove
333 Oak Grove StMinneapolis, MN 55403
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$953
Total Monthly Price
Studio Apartments Available NowTotal Monthly Price
Base Rent
$949
Required Monthly Fees
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225 Place Apartments
225 W 15th StMinneapolis, MN 55403
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$965 - $1,721
Plus Fees
Studio to 3 Bedroom Apartments Contact Us For AvailabilityPark & Franklin Lofts
1935 Park AveMinneapolis, MN 55404
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$982 - $2,445
Plus Fees
Studio to 3 Bedroom Apartments Available NowNico East
1725 Nicollet AveMinneapolis, MN 55403
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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$990 - $1,455
Total Monthly Price1 Month Lease Term
1 to 2 Bedroom Apartments Available NowTotal Monthly Price
Base Rent
$990 - $1,455
Total Monthly Price
$990 - $1,455
Drexel Apartments
1009 Park AveMinneapolis, MN 55404
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$990 - $1,280
Plus Fees12 Month Lease Term
Studio to 2 Bedroom Apartments Available NowSt Anthony Mills Apartments
720 Washington Ave SMinneapolis, MN 55415
1910 1st Ave S
MinneapolisMN55403
220 E 19th St
MinneapolisMN55403
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$995 - $1,550
Total Monthly Price12 Month Lease Term
Studio to 2 Bedroom Apartments Available May 1Total Monthly Price
Base Rent
$945 - $1,500
Required Monthly Fees
$50
Total Monthly Price
$995 - $1,550
Studios at 7 Corners
1414 S 3rd StMinneapolis, MN 55454
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$995 - $1,325
Plus Fees12 Month Lease Term
Studio to 2 Bedroom Apartments Available NowAbbott Apartments
110 18th St EMinneapolis, MN 55403
431 S 7th St
MinneapolisMN55415
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$999 - $1,200
Plus Fees
Studio to 1 Bedroom Apartments Available NowThe Buckingham Apartments
1500 LaSalle AveMinneapolis, MN 55403
1901 Stevens Ave
MinneapolisMN55403
1901 Stevens Ave
MinneapolisMN55403
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.
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 | $1,285 | $653 | $2,843 |
| Downtown 1 Bedroom Apartments | $1,710 | $782 | $8,819 |
| Downtown 2 Bedroom Apartments | $2,696 | $907 | $10,000+ |
| Downtown 3 Bedroom Apartments | $3,888 | $1,325 | $10,000+ |
| Downtown 4 Bedroom Apartments | $3,255 | $2,600 | $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 222 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
- Nearby Cities
- ZIP codes
- Local Counties
- School Districts
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 Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Paige Hall | Efficiency | Studio,1BA | $551 |
| Shoreline Plaza | Studio | Studio,1BA | $653 |
| Copenhagen Enterprises | 2820 First Ave Studio | Studio,1BA | $675 |
| Holmes Park Village | 2 Bedroom | 2BR,1BA | $723 |
| Remington Apartments | Studio September Move In | Studio,1BA | $745 |
| Sela Campus University Apartments | Efficiency | Studio,1BA | $750 |
| Lilium Apartments and Centennial Place | 900 Centennial Place Studio | Studio,1BA | $750 |
| 214 Oak Grove | 0BR/1.0BA | Studio,1BA | $772 |
| Loring Manor Apartments | Studio | Studio,1BA | $775 |
| Haverhill Apartments | 1BR/1.0BA | 1BR,1BA | $782 |
Best Value Apartments for Rent in Downtown, MN
As of April 03, 2026 the best value apartment in the Downtown area is the $1.16 price per square foot 516 4th Ave SE Model at 516 4th Ave SE, Unit 516 in the in the University Of Minnesota neighborhood starting from $2,900. The second greatest value Downtown apartment is the 926 13th Ave S Model at 926 13th Ave S, Unit 2 starting at $2,950 with a $1.39 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 Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| 516 4th Ave SE, Unit 516 | 516 4th Ave SE | 6BR,2BA | $1.16 |
| 926 13th Ave S, Unit 2 | 926 13th Ave S | 4BR,2BA | $1.39 |
| 715 6th Ave SE, Unit Upper | 715 6th Ave SE | 5BR,2BA | $1.30 |
| Minnehaha 94 | The Metropolitan | 2BR,2BA | $1.42 |
| Sela Campus University Apartments | 2 Bedroom | 2BR,1BA | $1.28 |
| Haverhill Apartments | 2BR/1.0BA | 2BR,1BA | $1.18 |
| Three-Thirty-Three Oak Grove | 1 bed 1 Bath | 1BR,1BA | $1.09 |
| Abbott Apartments | One Bedroom One Bathroom | 1BR,1BA | $1.32 |
| Remington Apartments | Studio September Move In | Studio ,1BA | $1.35 |
| Spruce Place Apartments | 1 Bed | 1BR,1BA | $1.45 |
10 Hidden Costs of Renting You Should Budget for Before Signing a Lease
Avoid financial stress when renting. Learn about the 10 most common hidden costs—from pet fees to utilities—you must budget for before you sign a lease.
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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 ArticleThe Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro
Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.
Read ArticleCash or credit? Understanding the Importance of Credit Score in Real Estate and Renting
Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.
Read ArticleEnjoy 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 ArticleQuick 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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Do you know the Downtown area?
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 #12
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 $782.
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 $3,000.
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 177 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 $840 which is $2,160 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
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.
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.
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.
Authentic Minneapolis: An Insiders 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.
Articles, How-To's, and Tips
Maximizing Your Refund: Essential Tax Tips for Renters
Written by: Christine Leonard, Esq.
Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.
18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property
Written by: Lauren Harrington
Renting your next home can feel thrilling and overwhelming at the same time.
A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment
Written by: Bob Mallory
Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.
Renting with Roommates: Realistic Expectations for Shared Lease
Written by: Christine Leonard, Esq.
Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.