
Cheap Apartments for Rent in the Lake Forest Neighborhood of Minneapolis, MN from $500 (142 Rentals)
Search the lowest-cost Apartments available for rent right now in the Lake Forest area of Minneapolis.


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Knox and Lagoon Apartments

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6220 W 34th St, Unit 3

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Girard Apartments

Park Plaza

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2212 Girard Ave S

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Nox Apartments

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Overlook on 100

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Lake West on France

Axon Green
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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Lumos Apartments

Yorkshire Apartments

North Creek

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The Theodore Apartments 55+

Deco 265

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2920 Dean Parkway Apartments

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Portage Apartments

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The Bryn

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2832 Humboldt Ave S.

Boutique 28
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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The Bohen Apartments

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Arcata Apartments

2728 Humboldt

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The Gateway at West Lake Quarter

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Be @ Axon Green

The Walkway

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Foundry Lake Street

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Marbella on Dean

Xenia Apartments

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Tula
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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Talo

401 Morgan Ave N, Unit Floor 1

Laguna Apartments

2514 Girard Ave S

Northside Artspace Lofts

224 Cedar Lake Road North

3332 Hennepin

Holmes Apartments

1708 Glenwood Ave

2871 and 2875 Irving Ave S
Lake Forest - 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!

1707 Glenwood Ave

Santa Rosa Apartments

Uptown Classics Apartments

2932 Drew Ave S

Greenway Commons

James Apartments | 2886

Anderson Holmes

2716 Hennepin Ave

The Fuller Apartments

2700 Humboldt
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.
Lake Forest, Minneapolis, MN Local Guide

How much does it cost to rent an apartment in Lake Forest?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Lake Forest Studio Apartments | $1,443 | $875 | $2,036 |
| Lake Forest 1 Bedroom Apartments | $1,825 | $895 | $3,900 |
| Lake Forest 2 Bedroom Apartments | $2,576 | $1,030 | $10,000+ |
| Lake Forest 3 Bedroom Apartments | $2,867 | $1,734 | $5,685 |
| Lake Forest 4 Bedroom Apartments | $3,533 | $2,000 | $6,500 |
Browse Apartments in this Neighborhood
There are currently 142 rentals with your search options within a 2 mile radius of the Lake Forest Neighborhood of Minneapolis, MN.
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Lake Forest, Minneapolis, MN Local Guide
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Cheapest Available Lake Forest Apartments for Rent
 The cheapest available apartment rental in the Lake Forest area of Minneapolis, MN is a Studio unit found at Brittany Apartments priced from $925. Park Plaza has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,020. Here are the most affordable Lake Forest apartments for rent in Minneapolis, MN:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Brittany Apartments | Studio | Studio,1BA | $925 |
| Park Plaza | One Bedroom | 1BR,1BA | $1,020 |
| 3551-3559 Huntington Ave S. | 1-BR | 1BR,1BA | $1,049 |
| Zelia on Seven | A1-50 - Income Restrictions Apply | Studio,1BA | $1,054 |
| 3220 Girard Ave S | 1BR/1.0BA | 1BR,1BA | $1,085 |
| Q2 | 1 Bedroom | 1BR,1BA | $1,125 |
| Nox Apartments | Calypso | Studio,1BA | $1,131 |
| Ernestine Apartments | Bell | 1BR,1BA | $1,145 |
| Overlook on 100 | Overlook on 100 1 Bedroom 1 Balcony | 1BR,1BA | $1,145 |
| Westwood Gardens | 1br | 1BR,1BA | $1,150 |
Best Value Apartments for Rent in Lake Forest, MN
As of July 29, 2026 the best value apartment in the Lake Forest area is the $1.36 price per square foot Laurel West | Two Bed E Model at Laurel West End in the in the Blackstone neighborhood starting from $1,753. The second greatest value Lake Forest apartment is the 2BD 1.5 BA - 3rd Floor Model at Westlake Estate Apartments starting at $1,499 with a $1.50 price per square foot in the West Calhoun neighborhood. Here is today’s list of the best values for Lake Forest apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Laurel West End | Laurel West | Two Bed E | 2BR,2BA | $1.36 |
| Westlake Estate Apartments | 2BD 1.5 BA - 3rd Floor | 2BR,1.5BA | $1.50 |
| 1619 Lagoon Ave | 2BR/1.0BA | 2BR,1BA | $1.43 |
| Hampshire House | The Alvin | 2BR,1BA | $1.42 |
| Park Embassy | One Bedroom Large | 1BR,1BA | $1.52 |
| Park Villa Apartments | 2BR/1.0BA | 2BR,1BA | $1.52 |
| Rhode Island Chateau Apartments | 1 | 1BR,1BA | $1.48 |
| Boulevard 100 Apartments | Harriet 1 Bedroom | 1BR,1BA | $1.57 |
| Lake West on France | 1 Bed - 1 Bath | 1BR,1BA | $1.55 |
| Westwood Gardens | 1br | 1BR,1BA | $1.53 |
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 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 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.
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 LifestyleLake Forest, Minneapolis, MN
Ranked #26
Among cities in Minnesota for Apartment listings with Pet Friendly Amenities.
Pet Friendliness Lifestyle Score
4.0Pet Friendly
Lifestyle Ratings
ApartmentHomeLiving brings you comprehensive Lifestyle Ratings of rentals in cities 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 filtering automatically for convenient access to the outdoors, luxury housing options, transit availability, pet-friendly communities, places to raise kids, 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 Lake Forest Apartments
What is a cheap apartment in Lake Forest?
A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Lake Forest is under $1,150.
What is the price of a cheap apartment in Lake Forest?
The cheapest apartment in Lake Forest is Park Plaza which is listed at $1,020, while the average apartment in Lake Forest costs $2,804.
What types of apartments are the cheapest in Lake Forest?
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 18 regular apartments in Lake Forest 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 Lake Forest?
Cheap apartments in Lake Forest have an average cost of $329 which is $2,475 cheaper than the average rent for all rentals in Lake Forest.
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.

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.

Apartment Occupancy Rates: Renter Attraction vs Renter Retention
Written by: Robin Stewart
There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.