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from $800Studio to 2 Bedroom Apartments Available Now
22 on the River
22 27th Ave SEMinneapolis, MN 55414
Cheap Apartments for Rent in the Prospect Park Neighborhood of Minneapolis, MN from $500 (17 Rentals)
Search the lowest-cost Apartments available for rent right now in the Prospect Park area of Minneapolis.
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from $880Studio to 2 Bedroom Apartments Available Sep 1
Stadium Village Apartments
1015 Essex St SEMinneapolis, MN 55414
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from $1,0701 to 2 Bedroom Apartments Available Now
Riverside Flats
940 Franklin TerMinneapolis, MN 55406
Roommate Matching: Finding the Right Fit and Avoiding Pitfalls
When searching for a roommate, follow this list of essential steps and set clear expectations to create a solid foundation for a harmonious living situation.
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from $1,2002 Bedroom Apartment Available Now
926 Fulton St SE, Unit 2
926 Fulton St SEMinneapolis, MN 55414
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from $1,2501 to 2 Bedroom Apartments Available Jul 1
Thornton Place Apartments
810 SE Thornton StMinneapolis, MN 55414
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from $1,2501 Bedroom Apartment Available Aug 1
15 Malcolm Ave SE, Unit 2
15 Malcolm Ave SEMinneapolis, MN 55414
2630 Essex St SE
MinneapolisMN55414
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The Art of the Rental Viewing: What to look for during a property tour
Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.
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Smart Renter's Guide: Calculating Affordable Rent & Housing Costs
Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.
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from $909Studio to 2 Bedroom Apartments Available Now
2700 University
2700 University Ave WSt. Paul, MN 55114
Showing Results 1-17, Page 1 of 1
Prospect Park, Minneapolis, MN Local Guide
Copyright CoStar Group, Inc
How much does it cost to rent an apartment in Prospect Park?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Prospect Park Studio Apartments | $1,324 | $800 | $1,856 |
| Prospect Park 1 Bedroom Apartments | $1,614 | $909 | $2,695 |
| Prospect Park 2 Bedroom Apartments | $1,848 | $570 | $4,500 |
| Prospect Park 3 Bedroom Apartments | $2,485 | $730 | $3,450 |
| Prospect Park 4 Bedroom Apartments | $2,672 | $640 | $4,700 |
Browse Apartments in this Neighborhood
There are currently 17 rentals with your search options within a 2 mile radius of the Prospect Park Neighborhood of Minneapolis, MN.
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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 $640. 2700 University has the second lowest priced unit, which is a 1 Bed apartment currently listed from $909. 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 | $640 |
| 2700 University | Hill | 1BR,1BA | $909 |
| Riverside Flats | 1 Bedroom B | 1BR,1BA | $1,185 |
| 624 Huron Apartments | Michigan | 1BR,1BA | $1,238 |
| 22 on the River | A-1b | 1BR,1BA | $1,252 |
Best Value Apartments for Rent in Prospect Park, MN
As of June 20, 2025 the best value apartment in the Prospect Park area is the $2.46 price per square foot F4: 4 Bedrooms/4 Bathrooms Model at Factory Lofts in the in the University Of Minnesota neighborhood starting from $4,700. The second greatest value Prospect Park apartment is the Standard 2B/2B: Full Unit Model at University Village starting at $1,670 with a $1.65 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 | F4: 4 Bedrooms/4 Bathrooms | 4BR,4BA | $2.46 |
| University Village | Standard 2B/2B: Full Unit | 2BR,2BA | $1.65 |
| The Quad on Delaware | B1R - Renovated 2 Bedroom 2 Bath | 2BR,2BA | $1.12 |
| Riverside Flats | 2 Bedroom D | 2BR,1BA | $1.81 |
| 926 Fulton St SE, Unit 2 | 926 Fulton St SE | 2BR,1BA | $1.50 |
| MAX | C18 | 1BR,1BA | $2.63 |
| 624 Huron Apartments | Erie | 1BR,1BA | $1.62 |
| 22 on the River | A-5 | 1BR,1BA | $2.52 |
| 2700 University | Gilbert | Studio ,1BA | $2.37 |
| The Arrow Apartments - Student Housing | 1.1-Furnished | 1BR,1BA | $2.74 |
Getting Around the Prospect Park Neighborhood in Minneapolis, MN
Walk Score®
76 / 100
Very Walkable
Most errands can be accomplished on foot
Bike Score®
92 / 100
Biker's Paradise
Daily errands can be accomplished on a bike
Transit Score®
61 / 100
Good Transit
Many nearby public transportation options
What Are Walk Score®, Transit Score®, and Bike Score® Ratings?
- Walk Score® measures the walkability of any address.
- Transit Score® measures access to public transit.
- Bike Score® measures the bikeability of any address.
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 $1,496.
What is the price of a cheap apartment in Prospect Park?
The cheapest apartment in Prospect Park is 2700 University which is listed at $909, while the average apartment in Prospect Park costs $3,600.
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 17 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 $1,080 which is $2,520 cheaper than the average rent for all rentals in Prospect Park.
Expert Rental Resources
Helpful Apartment Articles, How-To's and Tips
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.
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.
Roommate Matching: Finding the Right Fit and Avoiding Pitfalls
Written by: Cheryl Bowman
A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.
The Art of the Rental Viewing: What to look for during a property tour
Written by: Marie Brown
You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.
Know Your Budget: Calculating What You Can Realistically Afford When Renting
Written by: Lauren Harrington
Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.