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from $8951 to 3 Bedroom Apartments Available Jun 1
Bossen Park Apartments
5717 31st Ave SMinneapolis, MN 55417
Cheap Apartments for Rent in the Diamond Lake Neighborhood of Minneapolis, MN from $800 (43 Rentals)
Search the lowest-cost Apartments available for rent right now in the Diamond Lake area of Minneapolis.
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from $995Studio to 3 Bedroom Apartments Available Now
Karmel Apartments
99 E 54th StMinneapolis, MN 55419
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from $9951 Bedroom Apartments Available Now
Creek Terrace Apartments
616 W 53rd StMinneapolis, MN 55419
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from $1,0501 Bedroom Apartments Available Now
5544/5301 Chicago Ave S
5544 Chicago AveMinneapolis, MN 55417
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from $1,095Studio to 2 Bedroom Apartments Available Now
Woodhaven
6045 Lyndale AveMinneapolis, MN 55419
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from $1,1501 to 2 Bedroom Apartments Available Jun 1
Diamond Pointe Apartments
6106-6116 Lyndale Ave SMinneapolis, MN 55419
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from $1,165Studio to 2 Bedroom Apartments Available Jun 13
Oaks Station Place
3550 E 46th StMinneapolis, MN 55406
5701 Lyndale Ave S
MinneapolisMN55419
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from $1,240Studio to 2 Bedroom Apartments Available Now
Fuller Park Flats
4738 Grand Ave SMinneapolis, MN 55419
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from $1,250Studio to 1 Bedroom Apartments Available Now
Hiawatha Flats
3625 E 43rd StMinneapolis, MN 55406
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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from $1,2701 to 2 Bedroom Apartments Available Now
City Limits Apartments
127 E 59th StMinneapolis, MN 55419
99 E 54th St
MinneapolisMN55419
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Studio to 2 Bedroom Apartments
Diamond Lake Properties
100-102 W Diamond Lake RdMinneapolis, MN 55419
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Navigating 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.
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from $1,0251 Bedroom Apartments Available Now
Lyndale Garden
6301-6325 Lyndale Ave SRichfield, MN 55423
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6324 Lyndale Ave S
RichfieldMN55423
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from $1,165Studio to 1 Bedroom Apartments Available Now
Riley Apartments
600 W 64th St WRichfield, MN 55423
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from $1,1951 to 2 Bedroom Apartments Available Now
Richfield Square Apartments
6237 Pleasant Ave SRichfield, MN 55423
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from $1,209Studio to 3 Bedroom Apartments Available Now
The Chamberlain Apartments
6630 Richfield PkyRichfield, MN 55423
Know Your Rights - How Discrimination Laws Impact Landlords and Tenants
Read our practical guide to landlord and tenant rights. Understand protected classes, reasonable accommodations, and legal exceptions to prevent housing discrimination.
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from $1,2502 Bedroom Apartments Available Jun 1
Enjoy a small community in an ideal Richfi...
6321-6329 Pleasant Ave SRichfield, MN 55423
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from $1,3002 Bedroom Apartments Available May 31
Portland Terrace
7232 Portland AveRichfield, MN 55423
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from $1,334Studio to 3 Bedroom Apartments Available Now
Rya Apartments
6400 Richfield PkyRichfield, MN 55423
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Diamond Lake - 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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Showing Results 1-43, Page 1 of 1
Diamond Lake, Minneapolis, MN Local Guide
Target Field
in Minneapolis by Flickr User: mulad is licensed under CC BY 2.0
How much does it cost to rent an apartment in Diamond Lake?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Diamond Lake Studio Apartments | $1,409 | $925 | $2,469 |
| Diamond Lake 1 Bedroom Apartments | $1,543 | $895 | $2,662 |
| Diamond Lake 2 Bedroom Apartments | $2,121 | $1,250 | $4,060 |
| Diamond Lake 3 Bedroom Apartments | $2,115 | $1,600 | $3,195 |
| Diamond Lake 4 Bedroom Apartments | $2,474 | $2,100 | $2,849 |
Browse Apartments in this Neighborhood
There are currently 43 rentals with your search options within a 2 mile radius of the Diamond Lake Neighborhood of Minneapolis, MN.
See all Apartments in MinneapolisExplore Minneapolis
Diamond Lake, Minneapolis, MN Local Guide
- Nearby Minneapolis neighborhoods
- Nearby Cities
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Cheapest Available Diamond Lake Apartments for Rent
The cheapest available apartment rental in the Diamond Lake area of Minneapolis, MN is a Studio unit found at Richlyn Apartments priced from $925. Creek Terrace Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $995. Here are the most affordable Diamond Lake apartments for rent in Minneapolis, MN:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Richlyn Apartments | 0BR/1.0BA | Studio,1BA | $925 |
| Creek Terrace Apartments | 1BR/1.0BA | 1BR,1BA | $995 |
| Karmel Apartments | Studio | Studio,1BA | $995 |
| Lyndale Garden | 1 Bedroom Large | 1BR,1BA | $1,025 |
| 5544/5301 Chicago Ave S | 5600 Nicollet | 1BR,1BA | $1,075 |
| Woodlake Park | Lynwood | 1BR,1BA | $1,140 |
| The Chamberlain Apartments | S3 | Studio,1BA | $1,209 |
| Riley Apartments | Lyndale - C | Studio,1BA | $1,240 |
| Fuller Park Flats | B | Studio,1BA | $1,245 |
| Hiawatha Flats | SA | Studio,1BA | $1,250 |
Best Value Apartments for Rent in Diamond Lake, MN
As of May 10, 2025 the best value apartment in the Diamond Lake area is the $1.48 price per square foot Windom (3bd/2ba) - 1250sqft Model at Windom Gables in the in the Armatage neighborhood starting from $1,849. The second greatest value Diamond Lake apartment is the B1 Model at Woodhaven starting at $1,625 with a $1.55 price per square foot in the Armatage neighborhood. Here is today’s list of the best values for Diamond Lake apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Windom Gables | Windom (3bd/2ba) - 1250sqft | 3BR,2BA | $1.48 |
| Woodhaven | B1 | 2BR,2BA | $1.55 |
| NIC 44 | 3BR/1.0BA | 3BR,1BA | $1.90 |
| City Limits Apartments | Nokomis | 2BR,1BA | $1.62 |
| Richfield Square Apartments | Renovated 2 Bedroom | 2BR,1BA | $1.58 |
| The Oaks on Pleasant | Ash | 1BR,1BA | $1.94 |
| Woodlake Park | Lynwood | 1BR,1BA | $1.69 |
| 5544/5301 Chicago Ave S | 5600 Nicollet | 1BR,1BA | $1.59 |
| Creek Terrace Apartments | 1BR/1.0BA | 1BR,1BA | $1.57 |
| Lyndale Garden | 1 Bedroom | 1BR,1BA | $2.01 |
Quick Rent Budget Calculator
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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.
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Pet Friendly LifestyleDiamond Lake, Minneapolis, MN
Ranked #109
Among neighborhoods in Minneapolis, MN for Apartment listings with Pet Friendly Amenities
Pet Friendliness Lifestyle Score
4.0Pet Friendly
Getting Around the Diamond Lake Neighborhood in Minneapolis, MN
Walk Score®
53 / 100
Somewhat Walkable
Some errands can be accomplished on foot
Bike Score®
68 / 100
Bikeable
Some bike infrastructure
Transit Score®
45 / 100
Some Transit
A few 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 Diamond Lake Apartments
What is a cheap apartment in Diamond Lake?
A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Diamond Lake is under $1,250.
What is the price of a cheap apartment in Diamond Lake?
The cheapest apartment in Diamond Lake is Creek Terrace Apartments which is listed at $995, while the average apartment in Diamond Lake costs $2,474.
What types of apartments are the cheapest in Diamond Lake?
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 1 regular apartments in Diamond Lake 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 Diamond Lake?
Cheap apartments in Diamond Lake have an average cost of $101 which is $2,373 cheaper than the average rent for all rentals in Diamond Lake.
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.
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.
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.
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.
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.