
Cheap Apartments for Rent in the Water Park Neighborhood of Minneapolis, MN from $649 (54 Rentals)
Search the lowest-cost Apartments available for rent right now in the Water Park area of Minneapolis.


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Rym Apartments

962 29th Ave NE

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Jax Apartments

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Minneapolis Grand Apartments

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Lake Street Dwelling

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Lago Apartments

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Huck Apartments

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HQ Apartments

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Huxley Apartments
Rent According to Income: A Look at Income-Restricted Rentals
Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.

3005 Tyler St NE, Unit Upstairs - 2

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Hencen

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Moment

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The Laker

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MN46 Apartments

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Groove Lofts

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The Station at Malcolm Yards

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New Boston Square

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Gopher Commons 1701

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Xenia Apartments
Renters Insurance 101: What It Is, What It Covers, and Why You Need It
From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.

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The Mera

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Expo

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240 Park Avenue

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O2

Central Flats

3447 Central Ave NE

960-962 29th Ave NE

2902 Polk Street NE

1417 29th Ave NE

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Pioneer Endicott
How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide
Finding the right apartment starts with three things: location, cost, and amenities. Get the insider perspective from a real estate professional on how to nail all three.

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Lake Pointe

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Rose Hill

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The Nine at Lexington Station

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The Scenic

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Equinox

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Urbana Court

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Holden House

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The Legends of Columbia Heights 55+ Living

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Alcott

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Landmark Tower
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.

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Aquarius Apartments

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Cedar Hills

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Oaks Landing 55+ Apartments

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Legacy Commons at Signal Hills 55+ Apartments

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Lydia Rose Apartments

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The Ruby

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The Hallon

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Solene

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Bellamy Minnetonka

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The Loden
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.
Water Park, Minneapolis, MN Local Guide

How much does it cost to rent an apartment in Water Park?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Water Park Studio Apartments | $1,435 | $1,029 | $2,013 |
| Water Park 1 Bedroom Apartments | $1,870 | $1,012 | $3,113 |
| Water Park 2 Bedroom Apartments | $2,585 | $909 | $6,814 |
| Water Park 3 Bedroom Apartments | $3,578 | $739 | $8,085 |
| Water Park 4 Bedroom Apartments | $1,572 | $649 | $2,495 |
Browse Apartments in this Neighborhood
There are currently 54 rentals with your search options within a 10 mile radius of the Water Park Neighborhood of Minneapolis, MN.
See all Apartments in MinneapolisExplore Minneapolis
Water Park, Minneapolis, MN Local Guide
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Cheapest Available Water Park Apartments for Rent
 The cheapest available apartment rental in the Water Park area of Minneapolis, MN is a 4 Beds unit found at The Quad on Delaware priced from $649. Rym Apartments has the second lowest priced unit, which is a Studio apartment currently listed from $1,077. Here are the most affordable Water 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 | $649 |
| Rym Apartments | Fusion | Studio, 1BA | $1,077 |
| Rose Hill | One Bedroom | 1BR, 1BA | $1,095 |
| The Nine at Lexington Station | Minnehaha - S1 60% AMI | Studio, 1BA | $1,110 |
| AVID Uptown | Modern Uptown 1 Bedroom | 1BR, 1BA | $1,112 |
| Solhaus Apartments & Tower | Luxton | Studio, 1BA | $1,117 |
| Lake Street Dwelling | B1 - 1 Bedroom | 1BR, 1BA | $1,200 |
| Lago Apartments | The Harriet (Studio) | Studio, 1BA | $1,203 |
| Urbana Court | S1 | Studio, 1BA | $1,243 |
| HQ Apartments | V2 | Studio, 1BA | $1,252 |
Best Value Apartments for Rent in Water Park, MN
As of September 22, 2026 the best value apartment in the Water Park area is the $1.56 price per square foot Twin Lake Model at Lake Pointe in the Shingle Creek neighborhood starting from $1,479. The second greatest value Water Park apartment is the 2B/1B Model at Gopher Commons 1701 in the University Of Minnesota neighborhood starting at $1,499 with a $1.76 price per square foot. Here is today’s list of the best values for Water Park apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Lake Pointe | Twin Lake | 2BR, 1BA | $1.56 |
| Gopher Commons 1701 | 2B/1B | 2BR, 1BA | $1.76 |
| The Quad on Delaware | B1R - Renovated 2 Bedroom 2 Bath | 2BR, 2BA | $1.13 |
| Aquarius Apartments | The Cove | 1BR, 1BA | $1.74 |
| New Boston Square | Madison | 1BR, 1BA | $1.91 |
| Minneapolis Grand Apartments | One Bedroom, One Bath | 1BR, 1BA | $1.88 |
| The Legends of Columbia Heights 55+ Living | One Bedroom - A | 1BR, 1BA | $1.83 |
| Oaks Landing 55+ Apartments | One Bedroom 1A | 1BR, 1BA | $2.01 |
| Rose Hill | One Bedroom | 1BR, 1BA | $1.54 |
| Pioneer Endicott | Studios | Studio, 1BA | $1.92 |
Don't Settle: How to Negotiate Your Apartment Lease and Save Money
Discover the insider tips from an attorney and real estate agent on how to negotiate your next apartment lease. Find out what's on the table and what's not, so you can save money and get the best terms possible.
Read ArticleNavigating the Rental Market: Tips for First-Time Renters
Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.
Read ArticleReal Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University
From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.
Read ArticleQuick Rent Budget Calculator
How much rent can you afford?
The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.
Pet Friendly LifestyleWater Park, Minneapolis, MN
Ranked #64
Among cities in Minnesota for Apartment listings with Pet Friendly Amenities.
Pet Friendliness Lifestyle Score
4.0Pet Friendly
Best Local Schools in Water Park, Minneapolis, MN
Waite Park Elementary School
St. Anthony Village Senior High
School data provided by Great Schools
Frequently Asked Questions about Cheap Water Park Apartments
What is a cheap apartment in Water Park?
A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Water Park is under $1,252.
What is the price of a cheap apartment in Water Park?
The cheapest apartment in Water Park is Rose Hill which is listed at $1,095, while the average apartment in Water Park costs $1,938.
What types of apartments are the cheapest in Water 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 74 regular apartments in Water 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 Water Park?
Cheap apartments in Water Park have an average cost of $266 which is $1,672 cheaper than the average rent for all rentals in Water Park.
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

Authentic Minneapolis: An Insider's Guide to Renting in the City of Lakes
Written by: Stephanie Lica
Hello from the Twin Cities! I’m Stephanie — your ApartmentHomeLiving.com Local Expert for Minneapolis. I’m here to give you the inside scoop on this frigid, yet fascinating city.

Blending Career and Community: Top Neighborhoods to Rent Near Major Minneapolis Employers
Written by: Stephanie Lica
I'm Stephanie, your ApartmentHomeLiving.com Local Expert for Minneapolis, Minnesota. I love life in the Twin Cities.

Enjoy Twin Cities Campus Life: Top Minneapolis Neighborhoods for Student Renters
Written by: Stephanie Lica
I'm Stephanie, your ApartmentHomeLiving.com Local Expert for Minneapolis, MN.

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.
Articles, How-To's, and Tips

Rent According to Income: A Look at Income-Restricted Rentals
Written by: Robin Stewart
The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.

How Commercial-to-Residential Property Conversions Help the Housing Crisis
Written by: Robin Stewart
Many housing markets throughout America share a common complaint: a lack of affordable rental properties.

Exploring Rental Options: Apartments, Townhomes, and Lofts - Oh My!
Written by: Robin Stewart
Where do you see yourself? When you think of home, sweet home, are you in a 3/2 apartment? Dreaming of a tall townhome? Maybe an industrial loft heavy on cool vibes is on your visioning board.

Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags
Written by: Robin Stewart
Renters want to find a great apartment, the right place for them, one that checks all the boxes of location, rental cost, amenities, safety, and more.