Cheap Homes for Rent in Minneapolis, MN from $600 (73 Rentals)

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property at 1048 22nd Ave SE

1048 22nd Ave SE

MinneapolisMN55414
property at 2881 Irving Ave S

2881 Irving Ave S

MinneapolisMN55408

Minneapolis's Best Affordable Neighborhoods

Learn about Minneapolis, MN and the best places to live with original content written by our Minneapolis Local Expert Stephanie Lica

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property at 4526 James Ave N

4526 James Ave N

MinneapolisMN55412
property at 433 S 7th St

433 S 7th St

MinneapolisMN55415
property at 5601 38th Ave S

5601 38th Ave S

MinneapolisMN55417
property at 2740 Rosalyn Ct

2740 Rosalyn Ct

New HopeMN55428
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Minneapolis, MN Local Guide

Cheapest Neighborhoods for Apartments in Minneapolis, MN

Pricing Updated: 04/05/2025

Current apartment rentals in the Minneapolis, MN area range in price from $600 to $19,500 with an overall median price of $3,901. The three Minneapolis neighborhoods with the lowest median rent pricing are Heart of the City at $1,200, Morris Park at $1,350, and Powderhorn Park at $1,350. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Minneapolis Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Heart of the City$1,350$1,2001
Morris Park$1,350$1,3501
Powderhorn Park$1,350$1,3501
Wenonah$1,350$1,3501
11th Avenue South$1,425$1,1909
Cleveland$1,500$1,5001
Downtown$1,525$1,3502
Folwell$1,650$1,4501
Whittier$1,662$1,1504
Seward$1,670$6002

Cheapest Available Minneapolis Apartments for Rent

 

The cheapest available apartment rental in Minneapolis, MN is a Studio unit found at Paige Hall in the Greater Central neighborhood priced from $551. The Quad on Delaware in the Elliot Park neighborhood has the second lowest priced unit, which is a 4 Beds apartment currently listed from $620. Here is today’s list of the most affordable Minneapolis apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Paige HallEfficiencyStudio,1BA$551
The Quad on DelawareD1R - Renovated 4 Bedroom 4 Bath4BR,4BA$620
Shoreline PlazaStudioStudio,1BA$653
Charles FlatsStudioStudio,1BA$695
Buri ManorEfficiencyStudio,1BA$699
3325 Nicollet Avenue3325 Nicollet Ave - 1 Bedroom1BR,1BA$715
The BalmoralEfficiencyStudio,1BA$718
Holmes Park Village2 Bedroom2BR,1BA$723
Haverhill | Origen Living0BR/1.0BAStudio,1BA$725
Greenway ApartmentsBlaisdell StudioStudio,1BA$734

Best Value Apartments for Rent in Minneapolis, MN

As of April 05, 2025 the best value apartment in the Minneapolis area is the $1.07 price per square foot 1083 15th Ave SE Model at 1083 15th Ave SE, Unit Apartment 2 in the in the Nicollet Island neighborhood starting from $2,150. The second greatest value Minneapolis apartment is the 1-Month Free for a Limited Time Only! Model at Grand & Finn II starting at $795 with a $0.60 price per square foot in the Macalester-Groveland neighborhood. Here is today’s list of the best values for Minneapolis apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
1083 15th Ave SE, Unit Apartment 21083 15th Ave SE3BR,1BA$1.07
Grand & Finn II1-Month Free for a Limited Time Only!4BR,2BA$0.60
1726 James Ave N, Unit 11726 James Ave N4BR,1BA$0.65
The Arbors1.1+den1BR,1BA$1.13
Bass Lake Crossing2bed2BR,1BA$1.04
The Marshall3X3A3BR,3BA$0.81
Yugo Minneapolis 412 Lofts2 Bed, 2 Bath Classic2BR,2BA$1.13
The Quad on DelawareB1R - Renovated 2 Bedroom 2 Bath2BR,2BA$1.10
The Chalet22BR,1BA$1.00
3325 Nicollet Avenue3325 Nicollet Ave - 1 Bedroom1BR,1BA$1.13

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Minneapolis, MN Area Reviews

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  • Cost of Living
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Stephanie • 4+ years in Minneapolis

February 25, 2025

A dream city for outdoorsy types who crave an urban experience...there's nothing like a day at the lakes or hitting up the Grand Rounds. Add amazing theater (like the Guthre) and restaurants and you have the perfect urban (but not too urban) lifestyle. The cost of living is going up but still pretty reasonable compared to most cities of a similar size and with similar cultural opportunities.

Frequently Asked Questions about Minneapolis

What type of rentals are currently available in Minneapolis?

There are currently 4972 Apartments for Rent in Minneapolis, MN with pricing that ranges from $495 to $15,685. There are also 372 Single Family Homes for rent, Condos, and Townhome rentals currently available in Minneapolis ranging from $600 to $19,500.

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

Today's rental pricing for Homes for Rent, Condos and Townhomes in Minneapolis ranges from $600 to $19,500 with an average monthly rent of $2,651.

How much are larger Three and Four Bedroom Rentals in Minneapolis?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Minneapolis range from $495 to $12,164, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,495 to $8,000. Four Bedroom Single-Family rentals are also available starting from $1,150 and Four Bedroom Apartments start at $495.

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.