
Cheap Apartments for Rent in the Lakewood Village Neighborhood of Minneapolis, MN from $500 (14 Rentals)
Search the lowest-cost Apartments available for rent right now in the Lakewood Village area of Minneapolis.


Total Monthly Price
Cedric's Landing

White Bear Manor Apartments

Cedarview Commons

Park Avenue Apartments

Arcadia Park Apartments

Total Monthly Price
Village Manor Apartments
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.

Pinehurst Apartments

Manitou Ridge Apartments

Bellaire Twin Homes

Midtown Apartments

Piccadilly Square 62+ Senior Living

Cypress Senior Living Apartments

62+ Community Carefree Cottages of Maplewood
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.
Lakewood Village, Minneapolis, MN Local Guide

How much does it cost to rent an apartment in Lakewood Village?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Lakewood Village Studio Apartments | $1,375 | $1,000 | $1,675 |
| Lakewood Village 1 Bedroom Apartments | $1,531 | $875 | $2,685 |
| Lakewood Village 2 Bedroom Apartments | $1,823 | $975 | $2,606 |
| Lakewood Village 3 Bedroom Apartments | $2,200 | $1,702 | $2,870 |
Browse Apartments in this Neighborhood
There are currently 14 rentals with your search options within a 2 mile radius of the Lakewood Village Neighborhood of Minneapolis, MN.
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Lakewood Village, Minneapolis, MN Local Guide
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Cheapest Available Lakewood Village Apartments for Rent
 The cheapest available apartment rental in the Lakewood Village area of Minneapolis, MN is a 1 Bed unit found at Pinehurst Apartments priced from $1,125. White Bear Terrace has the second lowest priced unit, which is a 2 Beds apartment currently listed from $1,215. Here are the most affordable Lakewood Village apartments for rent in Minneapolis, MN:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Pinehurst Apartments | Park Side One Bedroom | 1BR,1BA | $1,125 |
| White Bear Terrace | Two Bedroom 21A | 2BR,1BA | $1,215 |
| Northgate Crossing Apartments | 2 Bedroom 1 Bath (sm) | 2BR,1BA | $1,229 |
| White Bear Royal | 1x1 760 | 1BR,1BA | $1,250 |
| Birch Park | Two Bedroom/One Bath | 2BR,1BA | $1,260 |
Best Value Apartments for Rent in Lakewood Village, MN
As of April 10, 2026 the best value apartment in the Lakewood Village area is the $1.40 price per square foot Three Bedroom Model at Hoffman Place in the in the Hoffmans Corner neighborhood starting from $1,978. The second greatest value Lakewood Village apartment is the Two bedroom/Two bath Model at Conifer Ridge Apartments starting at $1,870 with a $1.91 price per square foot in the Gladstone neighborhood. Here is today’s list of the best values for Lakewood Village apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Hoffman Place | Three Bedroom | 3BR,3BA | $1.40 |
| Conifer Ridge Apartments | Two bedroom/Two bath | 2BR,2BA | $1.91 |
| White Bear Terrace | Two Bedroom 21A | 2BR,1BA | $1.27 |
| White Bear Manor Apartments | 2BR/1BA | 2BR,1BA | $1.42 |
| Birch Park | Two Bedroom/One Bath Corner | 2BR,1BA | $1.60 |
| BRIARCLIFF APARTMENTS | 2/1 Walnut 792sf | 2BR,1BA | $1.96 |
| White Bear Royal | 1x1 760 | 1BR,1BA | $1.64 |
| Boulders Senior Living Apartments | 1 BR A | 1BR,1BA | $1.93 |
| Cherry Court Apartments | The Apple | 1BR,1BA | $1.98 |
| Pinehurst Apartments | Park Side One Bedroom | 1BR,1BA | $1.76 |
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
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
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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.
Pet Friendly LifestyleLakewood Village, Minneapolis, MN
Ranked #120
Among cities in Minnesota for Apartment listings with Pet Friendly Amenities.
Pet Friendliness Lifestyle Score
3.5Pet Friendly
Frequently Asked Questions about Cheap Lakewood Village Apartments
What is the price of a cheap apartment in Lakewood Village?
The cheapest apartment in Lakewood Village is Pinehurst Apartments which is listed at $1,125, while the average apartment in Lakewood Village costs $1,870.
What types of apartments are the cheapest in Lakewood Village?
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 16 regular apartments in Lakewood Village that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.
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.