Cheap Apartments for Rent in Minnetonka, MN from $600 (106 Rentals)

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Search the lowest-cost Apartments available for rent right now in Minnetonka.

Minnetonka

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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Preserve at Shady Oak
1 Bedroom Apartments

Preserve at Shady Oak

10987 Bren Rd EMinnetonka, MN 55343
Corporate Housing
  • Utilities Included
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Chasewood Gates
1 Bedroom Apartments

Chasewood Gates

6100 Chasewood PkyMinnetonka, MN 55343
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Minnetonka, MN Local Guide

Cheapest Neighborhoods for Apartments in Minnetonka, MN

Pricing Updated: 04/11/2025

Current apartment rentals in the Minnetonka, MN area range in price from to with an overall median price of . Here is today’s list neighborhoods with the lowest median pricing for Minnetonka Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Hennepin Far Western Suburbs$3,499$6951683

Cheapest Available Minnetonka Apartments for Rent

 

The cheapest available apartment rental in Minnetonka, MN is a Studio unit found at Knollwood Towers West Apartments in the Creekside neighborhood priced from $955. Knollwood Estates in the Creekside neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $985. Here is today’s list of the most affordable Minnetonka apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Knollwood Towers West ApartmentsStudioStudio,1BA$955
Knollwood Estates1 Bedroom1BR,1BA$985
Hopkins Village ApartmentsOne Bedroom1BR,1BA$988
Fine Living at Aquila Park & Royal ParkThe OpalStudio,1BA$1,020
Bay Pointe Apartments1BR / 1BA1BR,1BA$1,055
Creekside ApartmentsBassettStudio,1BA$1,070
Hunters RidgeCrystalStudio,1BA$1,085
Creek Point ApartmentsStudioStudio,1BA$1,090
Crown Ridge2Bed 1Bath2BR,1BA$1,100
1210-1220 Cambridge St. (Hopkins)1b/L1BR,1BA$1,125

Best Value Apartments for Rent in Minnetonka, MN

As of April 11, 2025 the best value apartment in the Minnetonka area is the $1.53 price per square foot E Model at Claremont Apartments in the in the Glen Lake neighborhood starting from $1,685. The second greatest value Minnetonka apartment is the 2R - Ren Model at Westwood Gardens starting at $1,475 with a $1.51 price per square foot in the Elmwood neighborhood. Here is today’s list of the best values for Minnetonka apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Claremont ApartmentsE2BR,2BA$1.53
Westwood Gardens2R - Ren2BR,1BA$1.51
WestsideVernon2BR,1BA$1.41
Belgrove ApartmentsOne Bedroom1BR,1BA$1.42
Crown Ridge2Bed 1Bath2BR,1BA$1.20
Rosewood West1 Bedroom - Available Now!1BR,1BA$1.38
Rhode Island Chateau ApartmentsOne Bedroom1BR,1BA$1.28
Avana MinnetonkaA1W1BR,1BA$1.41
At The Lake1 Bedroom1BR,1BA$1.52
RamsgateOxford1BR,1BA$1.50

Quick Rent Budget Calculator

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Pet Friendly Lifestyle
Minnetonka, MN

Ranked #8

Among cities in Minnesota for Apartment listings with Pet Friendly Amenities

Pet Friendliness Lifestyle Score

2.5
Pet Friendly

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Best Local Schools in
Minnetonka, MN

School data provided by Great Schools

Remember the 3 Rules of Real Estate:
Location, Location, Location!

Explore Minnetonka, MN Rentals by Map

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See the most popular apartments and homes in Minnetonka, MN

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Getting Around Minnetonka, MN

Walk Score®

39 / 100

Car-Dependent

Most errands require a car

Bike Score®

47 / 100

Somewhat Bikeable

Minimal bike infrastructure

Transit Score®

16 / 100

Minimal Transit

It may be possible to get on a bus

What Are Walk Score®, Transit Score®, and Bike Score® Ratings?

  • Walk Score® measures the walkability of any address.
  • Transit Score® measures access to public transit.
  • Bike Score® measures the bikeability of any address.

Frequently Asked Questions about Cheap Minnetonka Apartments

What is a cheap apartment in Minnetonka?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Minnetonka is under $1,125.

What is the price of a cheap apartment in Minnetonka?

The cheapest apartment in Minnetonka is Knollwood Estates which is listed at $985, while the average apartment in Minnetonka costs $3,499.

What types of apartments are the cheapest in Minnetonka?

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 156 regular apartments in Minnetonka 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 Minnetonka?

Cheap apartments in Minnetonka have an average cost of $105 which is $3,394 cheaper than the average rent for all rentals in Minnetonka.

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.