
Cheap Apartments for Rent in the Elmwood Neighborhood of Minneapolis, MN from $600 (133 Rentals)
Search the lowest-cost Apartments available for rent right now in the Elmwood area of Minneapolis.


Axon Green

Total Monthly Price
3701 West Lake St.

4612 Cedar Lake Rd

Marbella on Dean

Allegro

Total Monthly Price
Lake West on France

Total Monthly Price
2920 Dean Parkway Apartments

Total Monthly Price
Overlook on 100

Total Monthly Price
Volo at Texa Tonka
What Does “Rent Burdened” Mean? How Much Rent Is Too Much
Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.

Foundry Lake Street

Total Monthly Price
Lake Harriet Commons

2929 Natchez Ave S

Total Monthly Price
Fulton Terrace

Total Monthly Price
Be @ Axon Green

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The Gateway at West Lake Quarter

2928 Dean Pky, Unit 5B, Unit 5B

4059 Vernon Ave S, Unit 4059 Vernon Ave S

2150 Ridge Dr, Unit 38, Unit 38

Linden Flats
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.

3640 Wooddale Ave S

8724 Minnetonka Blvd

3144 W Bde Maka Ska Blvd, Unit 101, Unit 101

4849 Vincent Ave S

Linden Hills | 2715

2932 Drew Ave S

Chowen Plaza Apartments

Linden Hills | 2716

Park Point Apartments II

4351 Drew Ave
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.

Creek View

Aquila Flats

Cove at Linden Hills

Prox31

Calhoun Beach Apartments

Greenway Commons

Arbor Court

Westwood Apartments

3815 Glendale Ter

3128 Salem Ave
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.

2817 Xerxes Ave S

2806 Xerxes Ave S

The Mezz at West Lake Quarter

Lake Harriet Condos

4236 Upton Ave S

1321 Division St

Brittany Apartments

Total Monthly Price
Uptown West

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Westside

Knollwood Apartments
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.
Elmwood, Minneapolis, MN Local Guide

How much does it cost to rent an apartment in Elmwood?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Elmwood Studio Apartments | $1,360 | $925 | $1,902 |
| Elmwood 1 Bedroom Apartments | $1,734 | $999 | $5,670 |
| Elmwood 2 Bedroom Apartments | $2,799 | $1,250 | $10,000+ |
| Elmwood 3 Bedroom Apartments | $3,508 | $1,585 | $10,000+ |
| Elmwood 4 Bedroom Apartments | $3,375 | $1,950 | $7,828 |
Browse Apartments in this Neighborhood
There are currently 133 rentals with your search options within a 2 mile radius of the Elmwood Neighborhood of Minneapolis, MN.
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Elmwood, Minneapolis, MN Local Guide
- Nearby Minneapolis neighborhoods
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Cheapest Available Elmwood Apartments for Rent
 The cheapest available apartment rental in the Elmwood area of Minneapolis, MN is a Studio unit found at Brittany Apartments priced from $925. Uptown West has the second lowest priced unit, which is a Studio apartment currently listed from $942. Here are the most affordable Elmwood apartments for rent in Minneapolis, MN:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Brittany Apartments | Studio | Studio,1BA | $925 |
| Uptown West | Uptown West - Studio (A) | Studio,1BA | $942 |
| Knollwood Apartments | 1b | 1BR,1BA | $999 |
| Q2 | 1 Bedroom | 1BR,1BA | $1,000 |
| Knollwood Towers West Apartments | Studio | Studio,1BA | $1,008 |
| Hiawatha Court | 1 Bedroom | 1BR,1BA | $1,008 |
| Knollwood Towers East Apartments | Studio | Studio,1BA | $1,024 |
| Fine Living at Aquila Park & Royal Park | The Opal | Studio,1BA | $1,031 |
| Huntington Ave Apartments | 1-BR | 1BR,1BA | $1,049 |
| Colonial Terrace | Studio | Studio,1BA | $1,049 |
Best Value Apartments for Rent in Elmwood, MN
As of April 13, 2026 the best value apartment in the Elmwood area is the $1.11 price per square foot San Simeon South Model at Auburn Townhomes in the in the Creekside neighborhood starting from $2,137. The second greatest value Elmwood apartment is the 2 Bed/ 1 Bath Model at Tamarind Apartments starting at $1,599 with a $1.40 price per square foot in the West Calhoun neighborhood. Here is today’s list of the best values for Elmwood apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Auburn Townhomes | San Simeon South | 2BR,1.5BA | $1.11 |
| Tamarind Apartments | 2 Bed/ 1 Bath | 2BR,1BA | $1.40 |
| 2920 Dean Parkway Apartments | The Benton | 1BR,1BA | $1.26 |
| Boulevard 100 Apartments | Minnetonka 2 Bedroom | 2BR,1.5BA | $1.50 |
| Park Embassy | One Bedroom Extra Large Upgraded | 1BR,1BA | $1.34 |
| Westside | Chase | 2BR,1.5BA | $1.38 |
| Knollwood Estates | 2 Bedroom | 2BR,1BA | $1.41 |
| 3701 West Lake St. | 1 | 1BR,1BA | $1.50 |
| Creek Point Apartments | 1 Bedroom 1 Bathroom | 1BR,1BA | $1.49 |
| Ramsgate | Oxford | 1BR,1BA | $1.49 |
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.
Read ArticleDon't Settle: How to Negotiate Your Apartment Lease and Save Money
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Read ArticleCash or credit? Understanding the Importance of Credit Score in Real Estate and Renting
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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.
Pet Friendly LifestyleElmwood, Minneapolis, MN
Ranked #45
Among cities in Minnesota for Apartment listings with Pet Friendly Amenities.
Pet Friendliness Lifestyle Score
4.0Pet Friendly
Lifestyle Ratings
ApartmentHomeLiving brings you Lifestyle Ratings of rentals in metropolitan areas across the United States, 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 our Star Ratings to compare for outdoor amenities like tennis courts, luxury amenities, pet-friendly features, places that make kids happy, proximity to transit, walking, and biking. Use Lifestyle Search in the site filter options on this page - and find your Perfect place!
Frequently Asked Questions about Cheap Elmwood Apartments
What is the Cheapest Studio apartment in Elmwood?
Currently the most affordable Cheap Studio Apartment in Elmwood is at Brittany Apartments listed at $925.
How much is rent for a Cheap One Bedroom Elmwood Apartment?
The lowest price for a Cheap One Bedroom Elmwood Apartment is $999 at Knollwood Apartments.
What is the lowest price for a Cheap Two Bedroom Elmwood Apartment for rent?
Today's best deal for a Cheap Two Bedroom Apartment in Elmwood is starting from $1,250 at Park Villa Apartments.
What is the most affordable Elmwood Three Bedroom Apartment?
The best deal on a cheap Elmwood Three Bedroom Apartment rental is at Boulevard 100 Apartments and starts from $2,120.
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

What Does “Rent Burdened” Mean? How Much Rent Is Too Much
Written by: Lauren Harrington
This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.

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.