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 | $1,323 | $1,000 | $1,532 |
| Prospect Park 1 Bedroom Apartments | $1,594 | $970 | $2,567 |
| Prospect Park 2 Bedroom Apartments | $1,883 | $580 | $4,267 |
| Prospect Park 3 Bedroom Apartments | $2,045 | $739 | $3,217 |
| Prospect Park 4 Bedroom Apartments | $1,103 | $649 | $2,400 |
| Prospect Park 5 Bedroom Apartments | $3,116 | $2,800 | $3,450 |
There are currently 41 rentals with your search options within a 2 mile radius of the Prospect Park Neighborhood of Minneapolis, MN.
See all Apartments in MinneapolisIf you’re an expert on all things Prospect Park, tell us what you love (and don't) by rating it and writing a review.
Write a ReviewThe cheapest available apartment rental in the Prospect Park area of Minneapolis, MN is a 1 Bed unit found at Yale Place priced from $956. East River Terrace has the second lowest priced unit, which is a Studio apartment currently listed from $1,036. Here are the most affordable Prospect Park apartments for rent in Minneapolis, MN:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Yale Place | 1bd Apartment: Yale Place | 1BR,1BA | $956 |
| East River Terrace | Studio Apartment: East River Terrace | Studio,1BA | $1,036 |
| Flats at Malcolm Yards | 1 Bedroom (511B350, 511B350A, 511B350H/L) | 1BR,1BA | $1,205 |
| Stadium Village Apartments | 2 Bed | 2BR,1BA | $1,225 |
| 22 on the River | S-3 | Studio,1BA | $1,241 |
| The Station at Malcolm Yards | Huron S0.3 (Studio) | Studio,1BA | $1,295 |
| Solhaus Apartments & Tower | Lakeside | Studio,1BA | $1,417 |
| Green on 4th | Beltrami | Studio,1BA | $1,452 |
| East River Plaza | 2 Bedroom B | 2BR,1BA | $1,460 |
| Brackett's Place Apartments | 2 Bedroom | 2BR,1BA | $1,475 |
As of July 02, 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 |
| 2141 Minneapolis Ave, Unit #1 | 2141 Minneapolis Ave | 2BR,1BA | $1.58 |
| Brackett's Place Apartments | 2 Bedroom | 2BR,1BA | $1.48 |
| East River Plaza | 2 Bedroom B | 2BR,1BA | $1.72 |
| Stadium Village Apartments | 1 Bed + Den | 1BR,1BA | $1.53 |
| Riverside Flats | 2 Bedroom B | 2BR,1BA | $1.98 |
| 2700 University | Carnegie | 1BR,1BA | $2.11 |
| Flats at Malcolm Yards | 1 Bedroom (511B350, 511B350A, 511B350H/L) | 1BR,1BA | $1.94 |
| Yale Place | 1bd Apartment: Yale Place | 1BR,1BA | $1.95 |
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 Yale Place which is listed at $956, while the average apartment in Prospect Park costs $3,100.
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 45 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.
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.
Written by: Stephanie Lica
I'm Stephanie, your ApartmentHomeLiving.com Local Expert for Minneapolis, MN.
Written by: Stephanie Lica
I'm Stephanie, your ApartmentHomeLiving.com Local Expert for Minneapolis, Minnesota. I love life in the Twin Cities.
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