2600 University Ave SE
MinneapolisMN55414
Cheap Homes for Rent in Prospect Park Neighborhood of Minneapolis, MN from $1,100 (2 Rentals)
Search the lowest-cost Homes available for rent right now in the Prospect Park area of Minneapolis.
What Does “Rent Burdened” Mean? How Much Rent Is Too Much
Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.
914 Fulton St SE
MinneapolisMN55414
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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Prospect Park, Minneapolis, MN Local Guide
Copyright CoStar Group, Inc
How much does it cost to rent a home in Prospect Park?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Prospect Park 2 Bedroom Homes for Rent | $2,350 | $2,350 | $2,350 |
| Prospect Park 3 Bedroom Homes for Rent | $1,900 | $1,900 | $1,900 |
Note: Properties with the Total Monthly Price badge include all required fees. Hover over the badge for details.
Browse Homes for Rent in this Neighborhood
There are currently 2 rentals with your search options within a 2 mile radius of the Prospect Park Neighborhood of Minneapolis, MN.
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Best Value Apartments for Rent in Prospect Park, MN
As of June 08, 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 Parrant Model at 2700 University starting at $2,685 with a $2.04 price per square foot in the St. Anthony 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 |
| 2700 University | Parrant | 2BR,2BA | $2.04 |
| University Village | Large 2B2B - Private | 2BR,2BA | $0.88 |
| Brackett's Place Apartments | 2 Bedroom | 2BR,1BA | $1.48 |
| MAX | B10 | 1BR,1BA | $2.35 |
| 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 | $2.01 |
| Thornton Place Apartments | 1bd Apartment: Thornton Place | 1BR,1BA | $1.73 |
| Flats at Malcolm Yards | 1 Bedroom (511B350, 511B350A, 511B350H/L) | 1BR,1BA | $1.94 |
Frequently Asked Questions about Prospect Park
What type of rentals are currently available in Prospect Park?
There are currently 86 Apartments for Rent in Prospect Park, MN with pricing that ranges from $580 to $3,517. There are also 3 Single Family Homes for rent, Condos, and Townhome rentals currently available in Prospect Park ranging from $1,195 to $2,350.
What is the current price range for Rental Homes in Prospect Park?
Today's rental pricing for Homes for Rent, Condos and Townhomes in Prospect Park ranges from $1,195 to $2,350 with an average monthly rent of $1,815.
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
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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.
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Articles, How-To's, and Tips
Pet-Friendly Renting: Everything You Need to Know Before You Move
Written by: Christine Leonard, Esq.
For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.
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Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.
Neighborhood and Market Insights: How to Choose the Right Area to Rent
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Apartment-hunting can be a gargantuan task. Renters have a wish list of items—some luxuries, some necessities—but finding what you seek in the right place is perhaps the most important part of the journey.
A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back
Written by: Lauren Harrington
I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.