Cheap Apartments for Rent in the Downtown Neighborhood of Minneapolis, MN from $400 (193 Rentals)
Cheap Apartments in the Downtown area of Minneapolis.

Shoreline Plaza

Stevens Community Apartments

Brentwood | Origen Living

The Buckingham / The Commodore / The Parkway Apartments

The Remington Campus Apartments

Loring Park

Copenhagen Enterprises

Stage Apartments, LLC

Loring Manor Apartments
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.

Loring Park Flats

The Park Apartments

St. Anthony Village

Best Apartments

East Village

Haverhill | Origen Living

116 Oak Grove St – Oak Grove Downtown

1912 Stevens Ave

Castleton

Blue Goose Cooperative
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.

Hawthorne Gates

Oak Grove Apartment Hotel

214 Oak Grove Street

Abbott Apartments

Loring Grove Apartments

Park & Franklin Lofts

409 University Ave SE
Downtown - 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!

FIT

City Place Lofts

Yale Place Apartments

225 Place Apartments

Drexel Apartments

Sela Campus University Apartments

Three-Thirty-Three Oak Grove

LaSalle Apartments

1400-1408 Spruce Pl – Oak Grove Downtown

225/227/233 Oak Grove St – Oak Grove Downtown

2017 Grand Ave S

1820 1st Ave S

St Anthony Mills Apartments

242 West Franklin Ave

Stradford Flats

Nico East

Laurel Village

Arrive Loring Park
Downtown, Minneapolis, MN Local Guide

How much does it cost to rent an apartment in Downtown?
Bedroom | Average Rent | Cheapest Rent | Highest Rent |
---|---|---|---|
Downtown Studio Apartments | $1,340 | $612 | $5,385 |
Downtown 1 Bedroom Apartments | $1,796 | $792 | $10,000+ |
Downtown 2 Bedroom Apartments | $2,770 | $704 | $10,000+ |
Downtown 3 Bedroom Apartments | $3,539 | $1,300 | $10,000+ |
Downtown 4 Bedroom Apartments | $3,183 | $1,983 | $5,341 |
Browse Apartments in this Neighborhood
There are currently 193 rentals with your search options within a 2 mile radius of the Downtown Neighborhood of Minneapolis, MN.
See all Apartments in MinneapolisExplore Minneapolis
Downtown, Minneapolis, MN Local Guide
- Nearby Minneapolis neighborhoods
- Nearby Cities
- ZIP codes
- Local Counties
- School Districts
Cheapest Available Downtown Apartments for Rent
 The cheapest available apartment rental in the Downtown 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 apartments for rent in Minneapolis, MN:
Apartment Listing | Model Name | Bed/Bath | Priced From |
---|---|---|---|
Paige Hall | Efficiency | Studio,1BA | $551 |
Shoreline Plaza | Studio | Studio,1BA | $653 |
Buri Manor | Efficiency | Studio,1BA | $699 |
Stevens Community Apartments | Studio | Studio,1BA | $700 |
The Balmoral | Efficiency | Studio,1BA | $718 |
Holmes Park Village | 2 Bedroom | 2BR,1BA | $723 |
The Remington Campus Apartments | STUDIO | Studio,1BA | $745 |
Loring Manor Apartments | Studio | Studio,1BA | $775 |
Copenhagen Enterprises | 1530 LaSalle Ave Studio | Studio,1BA | $775 |
The Buckingham / The Commodore / The Parkway Apartments | A4 (Parkway) | Studio,1BA | $796 |
Best Value Apartments for Rent in Downtown, MN
As of May 09, 2025 the best value apartment in the Downtown area is the $1.44 price per square foot Top floor 2 br Model at 310 8th St SE in the in the Marcy-Holmes neighborhood starting from $1,295. The second greatest value Downtown 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 apartments based on price per square foot:
Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
---|---|---|---|
310 8th St SE | Top floor 2 br | 2BR,1BA | $1.44 |
Three-Thirty-Three Oak Grove | 1 bed 1 Beth | 1BR,1BA | $1.09 |
242 West Franklin Ave | 1BR/1.0BA | 1BR,1BA | $1.35 |
East Town Apartments | Van Brocklin - 1 Bedroom | 1BR,1BA | $1.47 |
225/227/233 Oak Grove St – Oak Grove Downtown | Triplets 1 Bedroom | 1BR,1BA | $1.47 |
Sela Campus University Apartments | Efficiency | Studio ,1BA | $1.46 |
St. George Apartments | Studio-Deluxe | Studio ,1BA | $1.38 |
Haverhill | Origen Living | 1BR/1.0BA | 1BR,1BA | $1.39 |
Loring Grove Apartments | 1 Bedroom | 1BR,1BA | $1.48 |
The Remington Campus Apartments | STUDIO | Studio ,1BA | $1.35 |
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.
Pet Friendly LifestyleDowntown, Minneapolis, MN
Ranked #15
Among neighborhoods in Minneapolis, MN for Apartment listings with Pet Friendly Amenities
Pet Friendliness Lifestyle Score
4.0Pet Friendly
Lifestyle Ratings
ApartmentHomeLiving.com is happy to bring you Lifestyle Ratings of neighborhoods, cities, and rental properties across Minnesota, including 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 rankings of the best places for convenient access to the outdoors, luxury amenities, pet-friendly features, places to raise kids, proximity to transit, and how walkable or bikeable each community and area is. These search options are in the site filters at the top of this page.
Frequently Asked Questions about Cheap Downtown Apartments
What is a cheap apartment in Downtown?
A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Downtown is under $796.
What is the price of a cheap apartment in Downtown?
The cheapest apartment in Downtown is Shoreline Plaza which is listed at $792, while the average apartment in Downtown costs $2,800.
What types of apartments are the cheapest in Downtown?
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 52 regular apartments in Downtown 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 Downtown?
Cheap apartments in Downtown have an average cost of $163 which is $2,637 cheaper than the average rent for all rentals in Downtown.
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.

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.

Rise of Digital Nomads: Remote Work Tips for Apartment Renters
Written by: Brandie Parton
As a digital nomad, you no longer call a set address or office building your home for eight hours of the day or more.