Cheap Apartments for Rent in Greenwood, MN from $800 (31 Rentals)

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Search the lowest-cost Apartments available for rent right now in Greenwood.

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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Navigating the Rental Market: Tips for First-Time Renters

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Excelsior Lake
2 Bedroom Apartments

Excelsior Lake

500-520 Linden StExcelsior, MN 55331
  • Utilities Included

Greenwood - One of the Best Affordable Neighborhoods in Minneapolis

Named as one of the Best Affordable Areas to rent in Minneapolis by our Minneapolis Local Expert Stephanie Lica. See how it ranks!

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Greenwood, MN Local Guide

Cheapest Available Greenwood Apartments for Rent and Nearby

 

The cheapest available apartment rental in Greenwood, MN is a Studio unit found at Excelsior Manor Apartments in the Pinehurst neighborhood priced from $1,005. Hunters Ridge in the Glen Lake neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $1,085. Here is today’s list of the most affordable Greenwood apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Excelsior Manor ApartmentsStudio/1baStudio,1BA$1,005
Hunters RidgeCrystalStudio,1BA$1,085
Christmas Lake Manor ApartmentsTwo Bedroom/ One Bathroom2BR,1BA$1,125
Bay Pointe Apartments1 BR 1 BA - 1st Floor1BR,1BA$1,135
Minnetonka EdgewaterOne Free Months Rent! Newly Renovated Studios!Studio,1BA$1,150
Wayzata Woods Apartments1 Bedroom 1 Bathroom1BR,1BA$1,312
Sterling Ponds ApartmentsSenior 1A1BR,1BA$1,320
Stratford WoodGlenn2BR,1BA$1,322
Chanhassen Village2BR 1BA2BR,1BA$1,380
Shadow Green ApartmentsOak2BR,1BA$1,395

Best Value Apartments for Rent in Greenwood, MN and Nearby

As of May 17, 2025 the best value apartment in the Greenwood area is the $1.74 price per square foot Windsor Model at Saddlewood Park Townhomes in the in the Glen Lake neighborhood starting from $2,495. The second greatest value Greenwood apartment is the 1A Model at Lake Hazeltine Woods starting at $2,175 with a $1.78 price per square foot in the Laketown Colonial Townhomes neighborhood. Here is today’s list of the best values for Greenwood apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Saddlewood Park TownhomesWindsor3BR,2.5BA$1.74
Lake Hazeltine Woods1A1BR,1BA$1.78
Powers Ridge Rental Condos2BR/2.0BA2BR,2BA$1.62
Greenwood ManorOne Bedroom B1BR,1BA$1.26
Bayview Apartments2BR2BR,2BA$1.51
Shadow Green ApartmentsNorway2BR,1BA$1.40
Chanhassen Village2BR 1BA-U2BR,1BA$1.57
Wayzata Lake Apartments2BR/1.0BA2BR,1BA$1.66
Wayzata Woods Apartments1 Bedroom 1 Bathroom1BR,1BA$1.66
Christmas Lake Manor ApartmentsOne Bathroom/ One Bedroom1BR,1BA$1.55

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Pet Friendly Lifestyle

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Remember the 3 Rules of Real Estate:
Location, Location, Location!

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See the most popular apartments and homes in Greenwood, MN

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Getting Around Greenwood, MN

Walk Score®

29 / 100

Car-Dependent

Most errands require a car

Bike Score®

44 / 100

Somewhat Bikeable

Minimal bike infrastructure

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 Greenwood Apartments

What is the Cheapest Studio apartment in Greenwood?

Currently the most affordable Cheap Studio Apartment in Greenwood is at Excelsior Manor Apartments listed at $1,005.

How much is rent for a Cheap One Bedroom Greenwood Apartment?

The lowest price for a Cheap One Bedroom Greenwood Apartment is $1,080 at Christmas Lake Manor Apartments.

What is the lowest price for a Cheap Two Bedroom Greenwood Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Greenwood is starting from $1,125 at Christmas Lake Manor Apartments.

What is the most affordable Greenwood Three Bedroom Apartment?

The best deal on a cheap Greenwood Three Bedroom Apartment rental is at Springs at McKnight Lake and starts from $2,406.

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.

decorative image for A Local Expert’s Guide To the Top 10 Budget-Friendly Neighborhoods to Rent in Minneapolis article

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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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.

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The Freedom of Short-Term Leases: Exploring the Advantages for Renters

Written by: Bobbi Jackson

If you’re looking to relocate right now, a popular solution that may best fit your current rental needs is a short-term lease.

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Navigating the Rental Market: Tips for First-Time Renters

Written by: Sandy Baker

Making the decision to rent is exciting and terrifying at the same time. For many people, there are a lot of unknowns.