Cheap Homes for Rent in Minneapolis, MN from $500 (95 Rentals)

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Search the lowest-cost Homes available for rent right now in Minneapolis.

property at 1343 95th Ave NE

1343 95th Ave NE

MinneapolisMN55434
property at 2545 Cedar Ave S

2545 Cedar Ave S

MinneapolisMN55404
property at 3224 Hennepin Ave

3224 Hennepin Ave, Unit 3 - Room C

3224 Hennepin Ave
MinneapolisMN55408
property at 1129 SE 8th St

1129 SE 8th St

MinneapolisMN55414
property at 2600 University Ave SE

2600 University Ave SE, Unit 301

2600 University Ave SE
MinneapolisMN55414
property at 2616 Harriet Ave

2616 Harriet Ave, Unit 319

2616 Harriet Ave
MinneapolisMN55408
property at 2405 Hennepin Ave

2405 Hennepin Ave

MinneapolisMN55405
property at 7172 72nd Ln N

7172 72nd Ln N

Brooklyn ParkMN55428
property at 4207 Lakeside Ave N

4207 Lakeside Ave N

MinneapolisMN55429
property at 1132 40th Ave NE

1132 40th Ave NE

MinneapolisMN55421
property at 1916 Elliot Ave

1916 Elliot Ave

MinneapolisMN55404
property at 4129 N Colfax Ave

4129 N Colfax Ave

MinneapolisMN55412
property at 1214 Sherburne Ave

1214 Sherburne Ave

St. PaulMN55104
property at 2512 Fremont Ave N

2512 Fremont Ave N

MinneapolisMN55411
property at 2726 DuPont Ave S

2726 DuPont Ave S

MinneapolisMN55408
property at 574 37th Ave NE

574 37th Ave NE, Unit Upstairs

574 37th Ave NE
MinneapolisMN55421
property at 2601 Kenzie Ter

2601 Kenzie Ter, Unit 131

2601 Kenzie Ter
MinneapolisMN55418
property at 3408 3rd Ave S

3408 3rd Ave S

MinneapolisMN55408
property at 7673 E River Rd

7673 E River Rd

FridleyMN55432
property at 210 W Grant St

210 W Grant St

MinneapolisMN55403
property at 2720 Rosalyn Ct

2720 Rosalyn Ct

New HopeMN55427
property at 3400 Elliot Ave

3400 Elliot Ave

MinneapolisMN55407
property at 9400 Old Cedar Ave S

9400 Old Cedar Ave S, Unit 105

9400 Old Cedar Ave S
BloomingtonMN55425
property at 3227 29th Ave S

3227 29th Ave S

MinneapolisMN55406
property at 2710 Rosalyn Ct

2710 Rosalyn Ct

MinneapolisMN55427
property at 4125 17th Ave S

4125 17th Ave S

MinneapolisMN55407
Showing Results 1-50, Page 1 of 2

Minneapolis, MN Local Guide

Cheapest Neighborhoods for Apartments in Minneapolis, MN

Pricing Updated: 10/24/2025

Current apartment rentals in the Minneapolis, MN area range in price from $560 to $19,500 with an overall median price of $4,117. The three Minneapolis neighborhoods with the lowest median rent pricing are Stevens Square at $1,395, East Harriet at $1,495, and Downtown at $1,300. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Minneapolis Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Stevens Square$1,450$1,3951
East Harriet$1,495$1,4951
Downtown$1,725$1,3008
Longfellow$1,875$1,2951
Phillips$1,950$6006
Ventura Village$1,950$1,6251
Greater East Side$2,020$1,3504
Corcoran$2,024$1,7501
Albert Park - Emerson Park$2,026$1,1501
Uptown Minneapolis$2,085$1,2459

Cheapest Available Minneapolis Apartments for Rent

 

The cheapest available apartment rental in Minneapolis, MN is a 4 Beds unit found at Radius in the University Of Minnesota neighborhood priced from $479. Yugo Minneapolis Sydney Hall in the University Of Minnesota neighborhood has the second lowest priced unit, which is a 2 Beds apartment currently listed from $489. Here is today’s list of the most affordable Minneapolis apartments for rent:

Apartment ListingModel NameBed/BathPriced From
RadiusD54BR,3BA$479
Yugo Minneapolis Sydney Hall2 Bed, 2 Bath DinkyDome Double Renovated2BR,2BA$489
Allianze Sr. Community1X11BR,1BA$500
Paige HallEfficiencyStudio,1BA$551
Shelby CommonsOne Bedroom1BR,1BA$624
Shoreline PlazaStudioStudio,1BA$653
Spruce Place ApartmentsStudioStudio,1BA$695
Buri ManorEfficiencyStudio,1BA$699
Stevens Community ApartmentsStudioStudio,1BA$700
Lincoln Court Apartments1 Bed, 1 bath1BR,1BA$700

Best Value Apartments for Rent in Minneapolis, MN

As of October 24, 2025 the best value apartment in the Minneapolis area is the $0.96 price per square foot 7207 Heatherton Cir Model at 7207 Heatherton Cir in the in the Armatage neighborhood starting from $2,995. The second greatest value Minneapolis apartment is the 834 University Ave W Model at 834 University Ave W, Unit 2 starting at $2,029 with a $0.72 price per square foot in the Summit-University neighborhood. Here is today’s list of the best values for Minneapolis apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
7207 Heatherton Cir7207 Heatherton Cir3BR,3BA$0.96
834 University Ave W, Unit 2834 University Ave W5BR,1BA$0.72
796 Stewart Ave, Unit 796796 Stewart Ave6BR,6BA$0.40
Minnehaha 94The Augsburg3BR,2.5BA$0.78
Factory LoftsG2: 3 Bedrooms/3 Bathrooms3BR,3BA$0.50
RadiusD24BR,2BA$0.63
2300 Nicollet AvenueOne Bedroom1BR,1BA$0.88
Bierman PlaceThe Quad - By-the-bed4BR,2BA$0.65
Marshall at Finn3 Beds, 1 bath3BR,1BA$0.98
The Marshall2DX2B2BR,2BA$0.78

Quick Rent Budget Calculator

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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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Pet Friendly Lifestyle
Minneapolis, MN

Ranked #1

Among cities in Minnesota for Apartment listings with Pet Friendly Amenities.

Pet Friendliness Lifestyle Score

2.5
Pet Friendly

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Remember the 3 Rules of Real Estate:
Location, Location, Location!

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Minneapolis, MN Area Reviews

  • Parks
  • Entertainment
  • Local Vibes
  • Restaurants
  • Location
  • Traffic
  • Public Transportation
  • Outdoor Access
  • Cost of Living
  • Safety

Stephanie • 4+ years in Minneapolis

February 25, 2025

A dream city for outdoorsy types who crave an urban experience...there's nothing like a day at the lakes or hitting up the Grand Rounds. Add amazing theater (like the Guthre) and restaurants and you have the perfect urban (but not too urban) lifestyle. The cost of living is going up but still pretty reasonable compared to most cities of a similar size and with similar cultural opportunities.

Frequently Asked Questions about Minneapolis

What type of rentals are currently available in Minneapolis?

There are currently 4993 Apartments for Rent in Minneapolis, MN with pricing that ranges from $469 to $15,685. There are also 651 Single Family Homes for rent, Condos, and Townhome rentals currently available in Minneapolis ranging from $560 to $19,500.

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

Today's rental pricing for Homes for Rent, Condos and Townhomes in Minneapolis ranges from $560 to $19,500 with an average monthly rent of $2,919.

How much are larger Three and Four Bedroom Rentals in Minneapolis?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Minneapolis range from $495 to $9,923, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,500 to $6,495. Four Bedroom Single-Family rentals are also available starting from $1,590 and Four Bedroom Apartments start at $479.

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.

decorative image for Apartment Common Area Rules: What Renters Need to Know article

Apartment Common Area Rules: What Renters Need to Know

Written by: Christine Leonard, Esq.

Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.

decorative image for How to Negotiate Your Apartment Lease and Save Money article

How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate! 

decorative image for The Rental Move-In Inspection Checklist: A Guide for Renters article

The Rental Move-In Inspection Checklist: A Guide for Renters

Written by: Trey Huguley

The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.