Cheap Apartments for Rent in Minneapolis, MN from $400 (1,658 Rentals)

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

Minneapolis's Best Affordable Neighborhoods

Learn about Minneapolis, MN and the best places to live with original content written by our Minneapolis Local Expert Stephanie Lica

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Minneapolis, MN Local Guide

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Written By:
Justin Habersaat
Editing Staff

Cheapest Neighborhoods for Apartments in Minneapolis, MN

Pricing Updated: 03/24/2025

Current apartment rentals in the Minneapolis, MN area range in price from $495 to $15,685 with an overall median price of $2,908. The three Minneapolis neighborhoods with the lowest median rent pricing are Field at $1,100, South of Maryland at $770, and Cleveland at $1,375. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Minneapolis Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Field$1,100$1,10020
South of Maryland$1,295$770580
Cleveland$1,375$1,37521
Folwell$1,500$1,32569
Camden$1,599$90041
Lind Bohanon$1,599$90020
Webber Camden$1,599$90020
Nature View$1,650$9002018
Highwood$1,695$8322363
Manitou Village$1,695$1,025588

Cheapest Available Minneapolis Apartments for Rent

 

The cheapest available apartment rental in Minneapolis, MN is a Studio unit found at Paige Hall in the Greater Central neighborhood priced from $551. The Quad on Delaware in the Elliot Park neighborhood has the second lowest priced unit, which is a 4 Beds apartment currently listed from $620. Here is today’s list of the most affordable Minneapolis apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Paige HallEfficiencyStudio,1BA$551
The Quad on DelawareD1R - Renovated 4 Bedroom 4 Bath4BR,4BA$620
Shoreline PlazaStudioStudio,1BA$653
Pillsbury Apartments | 22001 Bedroom1BR,1BA$685
Charles FlatsStudioStudio,1BA$695
Haverhill | Origen Living0BR/1.0BAStudio,1BA$695
Brentwood | Origen Living0BR/1.0BAStudio,1BA$695
Buri ManorEfficiencyStudio,1BA$699
The BalmoralEfficiencyStudio,1BA$718
Holmes Park Village2 Bedroom2BR,1BA$723

Best Value Apartments for Rent in Minneapolis, MN

As of March 24, 2025 the best value apartment in the Minneapolis area is the $1.07 price per square foot 1083 15th Ave SE Model at 1083 15th Ave SE, Unit Apartment 2 in the in the Nicollet Island neighborhood starting from $2,150. The second greatest value Minneapolis apartment is the 1406-2 Madison St NE Model at 1406-2 Madison St NE, Unit 1 starting at $1,850 with a $0.93 price per square foot in the Northeast neighborhood. Here is today’s list of the best values for Minneapolis apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
1083 15th Ave SE, Unit Apartment 21083 15th Ave SE3BR,1BA$1.07
1406-2 Madison St NE, Unit 11406-2 Madison St NE2BR,1BA$0.93
Grand & Finn II1-Month Free for a Limited Time Only!4BR,2BA$0.60
Bass Lake Crossing2bed2BR,1BA$1.00
The Arbors1.1+den1BR,1BA$1.13
KensingtonKensington - 8308-...2BR,1.5BA$1.13
Lynwood Pointe1 Bedroom1BR,1BA$1.13
Yugo Minneapolis 412 Lofts2 Bed, 2 Bath Classic2BR,2BA$1.13
The Quad on DelawareB1R - Renovated 2 Bedroom 2 Bath2BR,2BA$1.10
Aldrich Apartments | Near I-94 & Theodore1BR/1.0BA1BR,1BA$1.13

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Minneapolis Overview

Where the Mississippi and Minnesota Rivers meet, sits Minneapolis and its sister city Saint Paul. With Minneapolis having the largest population in the state and Saint Paul being the capital, these Twin Cities form the second-largest economic center of the Midwest. The area is surrounded by scenic water parks, including rivers, lakes, wetlands, and waterfalls, making it the perfect city for watersport fans. Connected by the Grand Rounds National Scenic Byway, these green spaces link together through seven districts around the city. Minneapolis is also considered a global city and a significant contributor to the world economy. With the fifth-highest number of Fortune 500 companies in the country, apartments in Minneapolis are perfect for young professionals to live.

Why live in Minneapolis, MN?

The Twin Cities are considered the Midwest’s cultural capital with more than 60 museums, 30 stage theaters, and ten dance companies. With unique attractions, world-class dining, and miles of green spaces, it has the best of two cities for the price of one. With nearly two dozen Fortune 500 companies calling Minneapolis home, such as UnitedHealth Group, Target, and Best Buy, the local economy continues to grow. No sales tax on clothing makes shopping at the Mall of America, the largest mall in the country, that much better.

Pet Friendly Lifestyle
Minneapolis, MN

Ranked #1

Among cities in Minnesota for Apartment listings with Pet Friendly Amenities

Pet Friendliness Lifestyle Score

2.5
Pet Friendly

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

Explore Minneapolis, MN Rentals by Map

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See the most popular apartments and homes in Minneapolis, MN

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Getting Around Minneapolis, MN

Walk Score®

75 / 100

Very Walkable

Most errands can be accomplished on foot

Bike Score®

83 / 100

Very Bikeable

Biking is convenient for most trips

Transit Score®

52 / 100

Good Transit

Many nearby public transportation options

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 Minneapolis Apartments

What is a cheap apartment in Minneapolis?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Minneapolis is under $723.

What is the price of a cheap apartment in Minneapolis?

The cheapest apartment in Minneapolis is Pillsbury Apartments | 2200 which is listed at $685, while the average apartment in Minneapolis costs $2,908.

What types of apartments are the cheapest in Minneapolis?

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 267,598 regular apartments in Minneapolis 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 Minneapolis?

Cheap apartments in Minneapolis have an average cost of $425 which is $2,483 cheaper than the average rent for all rentals in Minneapolis.

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.

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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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Understanding Amenity Fees: Know Where You Might Be Able to Save Money

Written by: Amber Kanuckel

With the rising costs of housing, a lot of renters are asking this question: Is it possible to opt out of various amenities that your rental property offers so that you can avoid paying the fees.

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What to Know About Fees and Fines When Renting

Written by: Trey Huguley

When it comes to renting a new apartment or home there can be a number of fees that you will want to keep in mind going into the process.

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Battling the Butts: Your Guide to the Reality of Smoke-Free Renting

Written by: Andrea Lee Negroni, JD

While many apartment buildings are “no smoking” properties, it’s hard to know exactly how many. In 2017, the National Apartment Association reported more than half of rental properties had smoke free policies.