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$739 - $1,3691 to 3 Bedroom Apartments Contact Us For Availability
The Arrow Apartments
117 27th Ave SEMinneapolis, MN 55414
Cheap Apartments for Rent in the Prospect Park Neighborhood of Minneapolis, MN from $500 (15 Rentals)
Search the lowest-cost Apartments available for rent right now in the Prospect Park area of Minneapolis.
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Rent Specials
$850 - $2,594Studio to 2 Bedroom Apartments Available Now
22 on the River
22 27th Ave SEMinneapolis, MN 55414
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$885 - $1,395Studio to 2 Bedroom Apartments Available Now
Stadium Village Apartments
1015 Essex St SEMinneapolis, MN 55414
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$995Studio Apartments Available Apr 1
East River Terrace
2101 E River TerMinneapolis, MN 55414
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Rent Specials
$1,071 - $1,739
Total Monthly Price12 Month Lease Term
1 to 2 Bedroom Apartments Available NowTotal Monthly Price
Base Rent
$1,067 - $1,735
Required Monthly Fees
$4
Total Monthly Price
$1,071 - $1,739
Flats at Malcolm Yards
505 SE Malcolm AveMinneapolis, MN 55414
Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between
Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.
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Rent Specials
$1,095 - $2,276
Total Monthly Price
Studio to 2 Bedroom Apartments Available NowTotal Monthly Price
Base Rent
$1,095 - $2,276
Total Monthly Price
$1,095 - $2,276
The Station at Malcolm Yards
485 Malcolm Ave SEMinneapolis, MN 55414
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$1,117
Total Monthly Price
1 Bedroom Apartments Available Mar 1Total Monthly Price
Base Rent
$1,100
Required Monthly Fees
$17
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$1,117
Riverside Flats
940 Franklin TerMinneapolis, MN 55406
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$1,135 - $1,310Studio to 2 Bedroom Apartments Available Now
East River Plaza
301 Saint Anthony AveMinneapolis, MN 55414
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1 to 3 Bedroom Apartments
The Louis
3001 4th StMinneapolis, MN 55414
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Studio to 2 Bedroom Apartments
Huron Estates
614 Huron Blvd SEMinneapolis, MN 55414
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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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 1 Bedroom Apartments
Yale Place
48 27th Ave 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 4 Bedroom Apartments
Argyle House
920 Delaware St SEMinneapolis, 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.
Showing Results 1-15, 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 | $1,305 | $850 | $1,712 |
| Prospect Park 1 Bedroom Apartments | $1,607 | $965 | $2,567 |
| Prospect Park 2 Bedroom Apartments | $1,843 | $580 | $3,517 |
| Prospect Park 3 Bedroom Apartments | $1,732 | $719 | $3,217 |
| Prospect Park 4 Bedroom Apartments | $1,422 | $639 | $2,780 |
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 15 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 Studio unit found at 22 on the River priced from $850. Stadium Village Apartments has the second lowest priced unit, which is a Studio apartment currently listed from $885. Here are the most affordable Prospect Park apartments for rent in Minneapolis, MN:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| 22 on the River | S-1 | Studio,1BA | $850 |
| Stadium Village Apartments | Studios | Studio,1BA | $885 |
| Solhaus Apartments & Tower | Calhoun | 2BR,2BA | $915 |
| Yale Place | Studio Apartment: Yale Place | Studio,1BA | $916 |
| The Station at Malcolm Yards | Huron S0.4 (Studio) | Studio,1BA | $1,095 |
Best Value Apartments for Rent in Prospect Park, MN
As of February 10, 2026 the best value apartment in the Prospect Park area is the $0.45 price per square foot D: 4 Bedrooms/4 Bathrooms Model at Factory Lofts in the in the University Of Minnesota neighborhood starting from $890. The second greatest value Prospect Park apartment is the 210 Warwick St SE Model at 210 Warwick St SE, Unit Unit 1 starting at $2,300 with a $1.44 price per square foot in the Prospect Park 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 | D: 4 Bedrooms/4 Bathrooms | 4BR,4BA | $0.45 |
| 210 Warwick St SE, Unit Unit 1 | 210 Warwick St SE | 4BR,2BA | $1.44 |
| 130 Orlin Ave SE, Unit Floor 2 | 130 Orlin Ave SE | 3BR,1BA | $1.96 |
| University Village | Standard 2B/2B: Full Unit | 2BR,2BA | $1.73 |
| Brackett's Place Apartments | 2 Bedroom | 2BR,1BA | $1.40 |
| 624 Huron Apartments | Michigan | 1BR,1BA | $1.56 |
| 2700 University | Carnegie | 1BR,1BA | $2.03 |
| Thornton Place Apartments | 1bd Apartment: Thornton Place (Renovated) | 1BR,1BA | $1.86 |
| East River Plaza | 1 Bedroom A | 1BR,1BA | $1.75 |
| Stadium Village Apartments | Studios | Studio ,1BA | $1.77 |
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 $1,395.
What is the price of a cheap apartment in Prospect Park?
The cheapest apartment in Prospect Park is Stadium Village Apartments which is listed at $965, while the average apartment in Prospect Park costs $3,550.
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 54 regular apartments in Prospect Park that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.
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
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.
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I'm Stephanie, your ApartmentHomeLiving.com Local Expert for Minneapolis, Minnesota. I love life in the Twin Cities.
Authentic Minneapolis: An Insiders Guide to Renting in the City of Lakes
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Maximizing Your Refund: Essential Tax Tips for Renters
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Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.
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Renting your next home can feel thrilling and overwhelming at the same time.
A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment
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Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.
Renting with Roommates: Realistic Expectations for Shared Lease
Written by: Christine Leonard, Esq.
Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.