Search the lowest-cost Apartments available for rent right now in the Prospect Park area of Minneapolis.
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| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Prospect Park Studio Apartments | $1,376 | $850 | $1,638 |
| Prospect Park 1 Bedroom Apartments | $1,624 | $970 | $2,567 |
| Prospect Park 2 Bedroom Apartments | $1,913 | $580 | $3,517 |
| Prospect Park 3 Bedroom Apartments | $1,944 | $739 | $3,217 |
| Prospect Park 4 Bedroom Apartments | $981 | $649 | $2,400 |
There are currently 42 rentals with your search options within a 2 mile radius of the Prospect Park Neighborhood of Minneapolis, MN.
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Write a ReviewThe cheapest available apartment rental in the Prospect Park area of Minneapolis, MN is a 2 Beds unit found at Yugo Minneapolis Edge priced from $1,049. East River Plaza has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,135. Here are the most affordable Prospect Park apartments for rent in Minneapolis, MN:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Yugo Minneapolis Edge | 2 Bed, 2 Bath Classic Renovated | 2BR,2BA | $1,049 |
| East River Plaza | 1 Bedroom A | 1BR,1BA | $1,135 |
| Flats at Malcolm Yards | 1 Bedroom (511B350, 511B350A, 511B350H/L) | 1BR,1BA | $1,205 |
| 22 on the River | S-3 | Studio,1BA | $1,241 |
| 2700 University | Gilbert | Studio,1BA | $1,300 |
| The Arrow Apartments | 1.1 | 1BR,1BA | $1,312 |
| Green on 4th | Scherer | Studio,1BA | $1,392 |
| The Station at Malcolm Yards | Huron S0.3 (Studio) | Studio,1BA | $1,400 |
| MAX | A3 | Studio,1BA | $1,422 |
| Brackett's Place Apartments | 2 Bedroom | 2BR,1BA | $1,475 |
As of May 12, 2026 the best value apartment in the Prospect Park area is the $0.52 price per square foot G2: 3 Bedrooms/3 Bathrooms Model at Factory Lofts in the in the University Of Minnesota neighborhood starting from $776. 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 | $0.52 |
| University Village | Large 2B2B - Private | 2BR,2BA | $0.88 |
| 3101 E 24th St, Unit 1 | 3101 E 24th St | 3BR,1BA | $1.38 |
| Brackett's Place Apartments | 2 Bedroom | 2BR,1BA | $1.48 |
| MAX | B10 | 1BR,1BA | $2.35 |
| 2508 33rd Ave S | 2508 33rd Ave S | 1BR,1BA | $2.00 |
| East River Plaza | 1 Bedroom A | 1BR,1BA | $1.75 |
| Flats at Malcolm Yards | 1 Bedroom (511B350, 511B350A, 511B350H/L) | 1BR,1BA | $1.94 |
| 2700 University | Gilbert | Studio ,1BA | $2.64 |
| 22 on the River | S-3 | Studio ,1BA | $2.62 |
A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Prospect Park is under $1,475.
The cheapest apartment in Prospect Park is East River Plaza which is listed at $1,135, while the average apartment in Prospect Park costs $2,650.
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 61 regular apartments in Prospect Park that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.
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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