Cheap Homes for Rent in Downtown Minneapolis Neighborhood of Minneapolis, MN from $1,000 (9 Rentals)

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

property at 433 S 7th St

433 S 7th St

MinneapolisMN55415
property at 401 S 1st St

401 S 1st St

MinneapolisMN55401

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

Best Value Apartments for Rent in Downtown Minneapolis, MN

As of April 15, 2025 the best value apartment in the Downtown Minneapolis area is the $1.09 price per square foot 1 bed 1 Beth Model at Three-Thirty-Three Oak Grove in the in the Greater Central neighborhood starting from $950. The second greatest value Downtown Minneapolis apartment is the 1 Bedroom Model at Loring Grove Apartments starting at $850 with a $1.00 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.
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
The MarylandEfficiency HTC UnitStudio ,1BA$1.68

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Frequently Asked Questions about Downtown Minneapolis

What type of rentals are currently available in Downtown Minneapolis?

There are currently 449 Apartments for Rent in Downtown Minneapolis, MN with pricing that ranges from $653 to $13,739. There are also 29 Single Family Homes for rent, Condos, and Townhome rentals currently available in Downtown Minneapolis ranging from $1,000 to $7,900.

What is the current price range for Rental Homes in Downtown Minneapolis?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Downtown Minneapolis ranges from $1,000 to $7,900 with an average monthly rent of $2,341.

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.