
Cheap 1 Bedroom Apartments for Rent in the Prospect Park Neighborhood of Minneapolis, MN from $970 (19 Rentals)


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22 on the River

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Flats at Malcolm Yards

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East River Terrace

122 Cecil St SE

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MAX
Genius Ideas and Studio Layout Tips That Maximize Every Square Inch
Transform your studio apartment layout and maximize storage. Get proven ideas from a 20-year property expert to make any small space stylish and functional.

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The Station at Malcolm Yards

Green on 4th

The Louis

Huron Estates

Yale Place

Prospect Park Apartments
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Create a productive work-from-home apartment setup, even in a small space or studio. Discover layout ideas, desk solutions, and organization tips that actually work.

Tairrie House

Riverside Flats

Argyle House

624 Huron Apartments

Solhaus Tower

The Pillars of Prospect Park-Assisted Living
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.

2700 University
Prospect Park, Minneapolis, MN Local Guide

How much does it cost to rent an apartment in Prospect Park?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Prospect Park Studio Apartments | $1,318 | $1,000 | $1,532 |
Prospect Park 1 Bedroom Apartments | $1,597 | $970 | $2,567 |
| Prospect Park 2 Bedroom Apartments | $1,870 | $580 | $4,267 |
| Prospect Park 3 Bedroom Apartments | $2,006 | $739 | $3,217 |
| Prospect Park 4 Bedroom Apartments | $1,103 | $649 | $2,400 |
| Prospect Park 5 Bedroom Apartments | $3,036 | $2,795 | $3,450 |
Explore Minneapolis
Frequently Asked Questions about Cheap Prospect Park Apartments
What is a cheap apartment in Prospect Park?
A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Prospect Park is under $1,595.
What is the price of a cheap apartment in Prospect Park?
The cheapest apartment in Prospect Park is Flats at Malcolm Yards which is listed at $1,205, while the average apartment in Prospect Park costs $2,950.
What types of apartments are the cheapest in Prospect Park?
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 38 regular apartments in Prospect Park 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 Prospect Park?
Cheap apartments in Prospect Park have an average cost of $816 which is $2,134 cheaper than the average rent for all rentals in Prospect Park.
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.
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