Cheap Apartments for Rent in the Diamond Lake Neighborhood of Minneapolis, MN from $700 (46 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Diamond Lake area of Minneapolis.

Diamond Lake

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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property at 99 E 54th St

99 E 54th St

MinneapolisMN55419
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Diamond Lake Properties
Studio to 2 Bedroom Apartments

Diamond Lake Properties

100-102 W Diamond Lake RdMinneapolis, MN 55419
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4844 Chicago
1 Bedroom Apartments

4844 Chicago

4844 Chicago AveMinneapolis, MN 55417
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4422 Nicollet Ave
1 Bedroom Apartments

4422 Nicollet Ave

4422 Nicollet AveMinneapolis, MN 55419
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Casablanca
1 Bedroom Apartments

Casablanca

4711 Nicollet Ave SMinneapolis, MN 55419
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InHabit Apartments
Studio to 2 Bedroom Apartments

InHabit Apartments

5924 Pillsbury Ave SMinneapolis, MN 55419
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4610 Bryant Ave S
1 Bedroom Apartments

4610 Bryant Ave S

4610 Bryant Ave SMinneapolis, MN 55419
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Cedar Apartments
Studio Apartments

Cedar Apartments

7244 Cedar Ave SRichfield, MN 55423
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Pleasant Ave Apartments
1 Bedroom Apartments

Pleasant Ave Apartments

6401-6421 Pleasant AveRichfield, MN 55423
Senior Living
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Eastfield
1 Bedroom Apartments

Eastfield

7137 Chicago Ave SRichfield, MN 55423
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1001/15 East 66th St.
1 Bedroom Apartments

1001/15 East 66th St.

1001-1015 E 66th StRichfield, MN 55423
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Hub Apartments
1 Bedroom Apartments

Hub Apartments

200-212 W 65th StRichfield, MN 55423
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Lynwood Flats
2 Bedroom Apartments

Lynwood Flats

800-840 W 65th StRichfield, MN 55423
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Pleasant Apartments
2 Bedroom Apartments

Pleasant Apartments

6313 Pleasant Ave SRichfield, MN 55423
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Showing Results 1-46, Page 1 of 1

Diamond Lake, Minneapolis, MN Local Guide

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 $987. Lyndale Garden has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,025. Here are the most affordable Diamond Lake apartments for rent in Minneapolis, MN:

Apartment ListingModel NameBed/BathPriced From
Richlyn Apartments0BR/1.0BAStudio,1BA$987
Lyndale Garden1 Bedroom Large1BR,1BA$1,025
Lyndale Plaza ApartmentsA1 Section 42 1 Bedroom1BR,1BA$1,030
Karmel Apartments1 BR, 1 BA1BR,1BA$1,095
Woodlake ParkLynwood1BR,1BA$1,105
Richfield Square ApartmentsMedium 1 Bedroom (Renovated)1BR,1BA$1,195
The Chamberlain ApartmentsS2HPStudio,1BA$1,240
Riley ApartmentsLyndaleStudio,1BA$1,275
Hiawatha FlatsSAStudio,1BA$1,275

Best Value Apartments for Rent in Diamond Lake, MN

As of April 06, 2025 the best value apartment in the Diamond Lake area is the $1.54 price per square foot The Magnolia Model at The Oaks on Pleasant in the in the Armatage neighborhood starting from $2,125. The second greatest value Diamond Lake apartment is the Windom (3bd/2ba) - 1250sqft Model at Windom Gables starting at $1,849 with a $1.48 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 ListingModel NameBed/BathPrice Per Sq.Ft.
The Oaks on PleasantThe Magnolia2BR,2.5BA$1.54
Windom GablesWindom (3bd/2ba) - 1250sqft3BR,2BA$1.48
4721 Lyndale Ave S, Unit 24721 Lyndale Ave S2BR,1BA$1.18
WoodhavenB12BR,2BA$1.60
NIC 443BR/1.0BA3BR,1BA$1.90
City Limits ApartmentsNokomis2BR,1BA$1.51
Lyndale Plaza ApartmentsB 1 Bedroom 1 Bathroom1BR,1BA$1.89
Portland Terrace2 Bedroom2BR,1BA$1.80
Woodlake ParkLynwood1BR,1BA$1.64
Karmel Apartments1 BR, 1 BA1BR,1BA$1.63

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Pet Friendly Lifestyle
Diamond Lake, Minneapolis, MN

Ranked #146

Among neighborhoods in Minneapolis, MN for Apartment listings with Pet Friendly Amenities

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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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 the Cheapest Studio apartment in Diamond Lake?

Currently the most affordable Cheap Studio Apartment in Diamond Lake is at Richlyn Apartments listed at $987.

How much is rent for a Cheap One Bedroom Diamond Lake Apartment?

The lowest price for a Cheap One Bedroom Diamond Lake Apartment is $1,025 at Lyndale Garden.

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

Today's best deal for a Cheap Two Bedroom Apartment in Diamond Lake is starting from $1,295 at City Limits Apartments.

What is the most affordable Diamond Lake Three Bedroom Apartment?

The best deal on a cheap Diamond Lake Three Bedroom Apartment rental is at Windom Gables and starts from $1,849.

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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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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Renting Smart: Lease Basics Every Renter Needs

Written by: Christine Leonard, Esq.

Often, in the excitement of finding a new place to live, there’s a rush to make it happen, and - too often - a new tenant signs a lease without reading it carefully.

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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.