Cheap Apartments for Rent in the Downtown Minneapolis Neighborhood of Minneapolis, MN from $500 (190 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
Lifestyle Matching SearchDone
Learn more about Lifestyle Search
By AmenitiesDone
By Community TypeDone
Features and AvailabilityDone
Done

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

Showing Results 1-50, Page 1 of 4

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
Copenhagen Enterprises2820 First Ave StudioStudio,1BA$675
Buri ManorEfficiencyStudio,1BA$699
Stevens Community ApartmentsStudioStudio,1BA$700
The Buckingham / The Commodore / The Parkway ApartmentsA1 (Buckingham - Efficiency)Studio,1BA$715
Yale Place ApartmentsStudioStudio,1BA$715
The BalmoralEfficiencyStudio,1BA$718
Holmes Park Village2 Bedroom2BR,1BA$723
The Remington Campus ApartmentsSTUDIOStudio,1BA$745

Best Value Apartments for Rent in Downtown Minneapolis, MN

As of February 15, 2025 the best value apartment in the Downtown Minneapolis area is the $1.58 price per square foot Two Bedroom - S (80%) Model at 1500 Nicollet in the in the Greater Central neighborhood starting from $1,737. The second greatest value Downtown Minneapolis apartment is the Redwood Model at ELEVATE Apartment Homes starting at $1,534 with a $1.50 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 NicolletTwo Bedroom - S (80%)2BR,2BA$1.58
ELEVATE Apartment HomesRedwood2BR,2BA$1.50
FITRenovated - Two Bedroom2BR,1BA$1.55
St Anthony Mills Apartments1 Bedroom1BR,1BA$1.61
Sela Campus University ApartmentsEfficiencyStudio ,1BA$1.46
St. George ApartmentsStudio-DeluxeStudio ,1BA$1.38
1786 Hennepin Ave S, Unit 121786 Hennepin Ave S1BR,1BA$1.52
409 University Ave SESTUDIOStudio ,1BA$1.51
The Remington Campus ApartmentsSTUDIOStudio ,1BA$1.35
Stevens Community ApartmentsStudioStudio ,1BA$1.40

Quick Rent Budget Calculator

How much rent can you afford?

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.

decorative image of people with a giant lease agreement

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

decorative image of woman handing cat to small boy

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 $792 at Shoreline Plaza.

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 715 University Ave SE and starts from $1,795.

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

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.

decorative image for What to Know About Fees and Fines When Renting article

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.

decorative image for How Your Move-In Inspection Can Protect Your Security Deposit article

How Your Move-In Inspection Can Protect Your Security Deposit

Written by: Christine Leonard, Esq.

If you’re anything like most people, housing costs represent a huge chunk of your monthly budget. On top of that, moving can be both a stressful and expensive affair.

decorative image for Signing Your Apartment Lease: The Basics article

Signing Your Apartment Lease: The Basics

Written by: Trey Huguley

When you're about to sign a lease for the first time, it can feel a bit overwhelming. You don’t want to miss any important details hidden in the fine print.