Cheap Apartments for Rent in the Downtown Neighborhood of Minneapolis, MN from $400 (194 Rentals)

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

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1910 1st Ave S
Studio to 1 Bedroom Apartments

1910 1st Ave S

1910 1st Ave SMinneapolis, MN 55403
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242 West Franklin Ave
Studio to 2 Bedroom Apartments

242 West Franklin Ave

242 W Franklin AveMinneapolis, MN 55404
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Downtown, Minneapolis, MN Local Guide

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 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
Yale Place ApartmentsStudioStudio,1BA$715
The BalmoralEfficiencyStudio,1BA$718
Holmes Park Village2 Bedroom2BR,1BA$723
1910 1st Ave S0BR/1.0BAStudio,1BA$725
The Remington Campus ApartmentsSTUDIOStudio,1BA$745

Best Value Apartments for Rent in Downtown, MN

As of February 22, 2025 the best value apartment in the Downtown area is the $1.31 price per square foot 4BR/1.0BA Model at 1804 16th Ave S in the in the Greater Central neighborhood starting from $1,575. The second greatest value Downtown apartment is the Two Bedroom - X (60%) Model at 1500 Nicollet starting at $1,641 with a $1.42 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 ListingModel NameBed/BathPrice Per Sq.Ft.
1804 16th Ave S4BR/1.0BA4BR,1BA$1.31
1500 NicolletTwo Bedroom - X (60%)2BR,2BA$1.42
Creamette Historic Lofts2 Bedrooms2BR,1BA$1.44
The RoseTwo Bedroom2BR,2BA$1.42
FITRenovated - One Bedroom1BR,1BA$1.48
St. George ApartmentsStudio-DeluxeStudio ,1BA$1.38
Sela Campus University ApartmentsEfficiencyStudio ,1BA$1.46
The Remington Campus ApartmentsSTUDIOStudio ,1BA$1.35
409 University Ave SESTUDIOStudio ,1BA$1.51
Stevens Community ApartmentsStudioStudio ,1BA$1.40

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Pet Friendly Lifestyle
Downtown, Minneapolis, MN

Ranked #14

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.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 the Cheapest Studio apartment in Downtown?

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

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

The lowest price for a Cheap One Bedroom Downtown Apartment is $792 at Shoreline Plaza.

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

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

What is the most affordable Downtown Three Bedroom Apartment?

The best deal on a cheap Downtown 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.

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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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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.

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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.

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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.