Cheap Apartments for Rent in the Downtown Minneapolis Neighborhood of Minneapolis, MN from $500 (189 Rentals)

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

Downtown 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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Downtown Minneapolis, Minneapolis, MN Local Guide

Cheapest Available Downtown Minneapolis Apartments for Rent

 

The cheapest available apartment rental in the Downtown Minneapolis area of Minneapolis, MN is a Studio unit found at Paige Hall priced from $551. Shoreline Plaza has the second lowest priced unit, which is a Studio apartment currently listed from $653. Here are the most affordable Downtown Minneapolis apartments for rent in Minneapolis, MN:

Apartment ListingModel NameBed/BathPriced From
Paige HallEfficiencyStudio,1BA$551
Shoreline PlazaStudioStudio,1BA$653
Buri ManorEfficiencyStudio,1BA$699
Brentwood | Origen Living0BR/1.0BAStudio,1BA$715
The BalmoralEfficiencyStudio,1BA$718
Holmes Park Village2 Bedroom2BR,1BA$723
The Remington Campus ApartmentsSTUDIOStudio,1BA$745
Copenhagen Enterprises1706 Stevens Ave StudioStudio,1BA$750
Loring Manor ApartmentsStudioStudio,1BA$775
214 Oak Grove Street1BR/1.0BA1BR,1BA$775

Best Value Apartments for Rent in Downtown Minneapolis, MN

As of April 14, 2025 the best value apartment in the Downtown Minneapolis area is the $1.54 price per square foot Three Bedroom - B (60%) Model at 1500 Nicollet in the in the Greater Central neighborhood starting from $1,895. The second greatest value Downtown Minneapolis apartment is the 1 bed 1 Beth Model at Three-Thirty-Three Oak Grove starting at $950 with a $1.09 price per square foot in the Greater Central neighborhood. Here is today’s list of the best values for Downtown Minneapolis apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
1500 NicolletThree Bedroom - B (60%)3BR,2BA$1.54
Three-Thirty-Three Oak Grove1 bed 1 Beth1BR,1BA$1.09
Loring Grove Apartments1 Bedroom1BR,1BA$1.00
Stevens Community Apartments2B/1B2BR,1BA$1.22
St. George Apartments1 Bed/1 Bath1BR,1BA$1.40
FITClassic - One Bedroom1BR,1BA$1.48
409 University Ave SEUnit 81BR,1BA$1.50
Sela Campus University ApartmentsEfficiencyStudio ,1BA$1.46
1786 Hennepin Ave S, Unit 111786 Hennepin Ave S1BR,1BA$1.59
The Remington Campus ApartmentsSTUDIOStudio ,1BA$1.35

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Pet Friendly Lifestyle
Downtown Minneapolis, Minneapolis, MN

Ranked #13

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

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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Lifestyle Ratings

ApartmentHomeLiving brings you our detailed rental analysis called 'Lifestyle Ratings' - a comparison of neighborhoods, cities, and rental properties across Minnesota and customized analysis for Central Minneapolis. LifeStyle Ratings are a useful tool for comparing and sorting apartments and neighborhoods when choosing your rental home. This takes in many factors including searching for the best amenities, and convenient access to the outdoors, transit availability, pet-friendly communities, family-friendly amenities, and much more. Find Lifestyle Search in the filter options (above). Happy Searching!

Frequently Asked Questions about Cheap Downtown Minneapolis Apartments

What is the Cheapest Studio apartment in Downtown Minneapolis?

Currently the most affordable Cheap Studio Apartment in Downtown Minneapolis is at Paige Hall listed at $551.

How much is rent for a Cheap One Bedroom Downtown Minneapolis Apartment?

The lowest price for a Cheap One Bedroom Downtown Minneapolis Apartment is $775 at 214 Oak Grove Street.

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

Today's best deal for a Cheap Two Bedroom Apartment in Downtown Minneapolis is starting from $723 at Holmes Park Village.

What is the most affordable Downtown Minneapolis Three Bedroom Apartment?

The best deal on a cheap Downtown Minneapolis Three Bedroom Apartment rental is at Holmes Park Village and starts from $792.

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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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.