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$850 - $2,594
Total Monthly Price
Base Rent$850 - $2,594
Total Monthly Price$850 - $2,594
22 on the River
22 27th Ave SEMinneapolis, MN 55414
Cheap Apartments for Rent in the Prospect Park Neighborhood of Minneapolis, MN from $636 (12 Rentals)
Search the lowest-cost Apartments available for rent right now in the Prospect Park area of Minneapolis.
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Rent Specials
$956 - $996
Total Monthly Price
Base Rent$935 - $975
Required Monthly FeesVaries
Total Monthly PriceVaries
Yale Place
48 27th Ave SEMinneapolis, MN 55414
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$1,036 - $1,816
Total Monthly Price
Base Rent$1,015 - $1,795
Required Monthly FeesVaries
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East River Terrace
2101 E River TerMinneapolis, MN 55414
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$1,195 - $1,2502 Bedroom Apartments Available Now
Plus Fees11 Month Lease Term
Stadium Village Apartments
1015 Essex St SEMinneapolis, MN 55414
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$1,200
Total Monthly Price
Base Rent$1,200
Total Monthly Price$1,200
926 Fulton St SE, Unit 1
926 Fulton St SEMinneapolis, MN 55414
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1 to 3 Bedroom Apartments
The Louis
3001 4th StMinneapolis, MN 55414
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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Studio to 2 Bedroom Apartments
Huron Estates
614 Huron Blvd SEMinneapolis, MN 55414
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Studio to 4 Bedroom Apartments
Tairrie House
609 Oak St SEMinneapolis, MN 55414
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Studio to 1 Bedroom Apartments
Prospect Park Apartments
3109 4th St SEMinneapolis, MN 55414
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Studio to 2 Bedroom Apartments
Apts on Essex - West
2618 Essex St SEMinneapolis, MN 55414
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1 to 2 Bedroom Apartments
Riverside Flats
940 Franklin TerMinneapolis, MN 55406
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1 to 4 Bedroom Apartments
Argyle House
920 Delaware St SEMinneapolis, MN 55414
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.
Showing Results 1-12, Page 1 of 1
Prospect Park, Minneapolis, MN Local Guide
Target Field
in Minneapolis by Flickr User: mulad is licensed under CC BY 2.0
How much does it cost to rent an apartment in Prospect Park?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Prospect Park Studio Apartments | $1,355 | $850 | $1,621 |
| Prospect Park 1 Bedroom Apartments | $1,614 | $956 | $2,567 |
| Prospect Park 2 Bedroom Apartments | $1,940 | $636 | $4,267 |
| Prospect Park 3 Bedroom Apartments | $2,022 | $739 | $3,217 |
| Prospect Park 4 Bedroom Apartments | $1,313 | $649 | $2,400 |
Note: Properties with the Total Monthly Price badge include all required fees. Hover over the badge for details.
Browse Apartments in this Neighborhood
There are currently 12 rentals with your search options within a 2 mile radius of the Prospect Park Neighborhood of Minneapolis, MN.
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Prospect Park, Minneapolis, MN Local Guide
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Cheapest Available Prospect Park Apartments for Rent
The cheapest available apartment rental in the Prospect Park area of Minneapolis, MN is a 4 Beds unit found at The Quad on Delaware priced from $649. Yale Place has the second lowest priced unit, which is a 1 Bed apartment currently listed from $956. Here are the most affordable Prospect Park apartments for rent in Minneapolis, MN:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| The Quad on Delaware | D1R - Renovated 4 Bedroom 4 Bath | 4BR,4BA | $649 |
| Yale Place | 1bd Apartment: Yale Place | 1BR,1BA | $956 |
| East River Terrace | Small Studio Apartment: East River Terrace | Studio,1BA | $1,036 |
| Riverside Flats | 1 Bedroom A | 1BR,1BA | $1,152 |
| Stadium Village Apartments | 2 Bed | 2BR,1BA | $1,195 |
Best Value Apartments for Rent in Prospect Park, MN
As of September 02, 2026 the best value apartment in the Prospect Park area is the $0.53 price per square foot G2: 3 Bedrooms/3 Bathrooms Model at Factory Lofts in the in the University Of Minnesota neighborhood starting from $789. The second greatest value Prospect Park apartment is the Large 2B2B - Private Model at University Village starting at $1,075 with a $0.88 price per square foot in the University Of Minnesota neighborhood. Here is today’s list of the best values for Prospect Park apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Factory Lofts | G2: 3 Bedrooms/3 Bathrooms | 3BR,3BA | $0.53 |
| University Village | Large 2B2B - Private | 2BR,2BA | $0.88 |
| 3301 University Ave SE, Unit #2 | 3301 University Ave SE | 2BR,1BA | $1.29 |
| Brackett's Place Apartments | 2 Bedroom | 2BR,1BA | $1.48 |
| Stadium Village Apartments | 2 Bed | 2BR,1BA | $1.20 |
| 624 Huron Apartments | Superior | 2BR,1BA | $1.58 |
| The Quad on Delaware | B1R - Renovated 2 Bedroom 2 Bath | 2BR,2BA | $1.13 |
| 926 Fulton St SE, Unit 1 | 926 Fulton St SE | 2BR,1BA | $1.50 |
| The Arrow Apartments | 2.2S-Furnished | 2BR,2BA | $0.99 |
| East River Plaza | 1 Bedroom A | 1BR,1BA | $1.86 |
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.
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Enjoy 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.
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Pet Friendly LifestyleProspect Park, Minneapolis, MN
Ranked #128
Among cities in Minnesota for Apartment listings with Pet Friendly Amenities.
Pet Friendliness Lifestyle Score
3.5Pet Friendly
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 $1,317.
What is the price of a cheap apartment in Prospect Park?
The cheapest apartment in Prospect Park is Yale Place which is listed at $956, while the average apartment in Prospect Park costs $1,636.
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 55 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 $845 which is $791 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.
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.
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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
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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
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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
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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.
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