Most Affordable Neighborhoods in Minneapolis, MN

Some of the cheapest neighborhoods in Minneapolis are Whittier, East Calhoun, and Dinkytown. These neighborhoods offer some of the lowest rent prices in Minneapolis, making them ideal for renters on a budget. As of April 2, 2025, the average rent in Minneapolis is $1,363, which is 0.1% higher than last year. However, it's important to remember that rental prices can vary significantly based on factors such as location, amenities, and floor plans.

Whittier

Average Rent

$1,173/Month

Year-Over-Year Rent Change

0.5%

TransitScore® Rating

61/100

Units Available

188 Rentals

Whittier offers budget-conscious renters an attractive environment with a diverse array of amenities. Enjoy the stunning greenery at Washburn Fair Oaks Park or explore international cuisine along Nicollet Avenue, also known as Eat Street. The neighborhood's convenient location provides easy access to downtown and public transportation.

East Calhoun

Average Rent

$1,383/Month

Year-Over-Year Rent Change

1.8%

TransitScore® Rating

53/100

Units Available

157 Rentals

East Calhoun is an affordable neighborhood in Minneapolis with an average rent price of $1,383. Compare this to the city average of $1,363. In the past year, rent prices have increased by 1.8%. East Calhoun provides easy access to Minneapolis College, North Central University, and Seven Points Uptown. It’s a walkable neighborhood with a WalkScore® of 84.

Dinkytown

Average Rent

$1,407/Month

Year-Over-Year Rent Change

1.9%

TransitScore® Rating

65/100

Units Available

152 Rentals

Dinkytown is perfect for those seeking affordable living near the University of Minnesota. This lively neighborhood features eclectic shops, cozy cafes, and notable music venues like Varsity Theater. Plus, its proximity to campus makes commuting effortless and enjoyable.

Loring Park

Average Rent

$1,452/Month

Year-Over-Year Rent Change

0.3%

TransitScore® Rating

73/100

Units Available

280 Rentals

Loring Park combines affordability with scenic beauty and cultural attractions. Visit its namesake park for picturesque walks around Loring Pond or attend events at the Walker Art Center. Furthermore, this neighborhood’s central location allows for convenient commutes and a lively social scene.

South Minneapolis

Average Rent

$1,469/Month

TransitScore® Rating

33/100

Units Available

302 Rentals

South Minneapolis offers affordable living with a rich variety of parks and local businesses. Minnehaha Regional Park, with its stunning waterfall and bike trails, is a popular destination. Additionally, the proximity to numerous coffee shops and restaurants enhances the community’s charm.

Glenwood Junction

Average Rent

$1,582/Month

Year-Over-Year Rent Change

0.6%

TransitScore® Rating

21/100

Units Available

320 Rentals

If you’re looking for a great, affordable neighborhood in Minneapolis, Glenwood Junction might be the perfect place! It has an average rent price of $1,582, while the city’s average stands at $1,363. In the last year, prices have increased by 0.6%. Glenwood Junction is near Target Field Station, Target Field Station Platform 2, and Minneapolis-St Paul International/Wold-Chamberlain.

Uptown Minneapolis

Average Rent

$1,587/Month

Year-Over-Year Rent Change

0.1%

TransitScore® Rating

57/100

Units Available

496 Rentals

Uptown Minneapolis attracts renters with its affordability and bustling local scene. Lake Bde Maka Ska offers opportunities for sailing, jogging, and picnicking, creating a serene escape. The area’s mix of trendy shops and eateries ensures an exciting lifestyle.

Prospect Park

Average Rent

$1,613/Month

Year-Over-Year Rent Change

4.3%

TransitScore® Rating

61/100

Units Available

197 Rentals

Prospect Park is a top choice for budget-conscious renters for a variety of reasons. The average rent in Prospect Park is $1,613 while the city average is $1,363. This is a 4.3% difference from last year. Residents enjoy convenient access to Riverside Park, Park Crossing, and Stadium Village Station. The neighborhood is considered walkable with a WalkScore® of 76.

Marcy-Holmes

Average Rent

$1,631/Month

Year-Over-Year Rent Change

1.3%

TransitScore® Rating

64/100

Units Available

247 Rentals

When you’re looking for a great Minneapolis neighborhood on a budget, check out Marcy-Holmes. The average rent is $1,631, compared to the city average of $1,363. Rent prices have increased by 1.3%. Marcy-Holmes is convenient to Dinkytown Center, St. Anthony Park, and East Bank Station. The community is walkable with a WalkScore® of 87.

North Minneapolis

Average Rent

$1,660/Month

Year-Over-Year Rent Change

3.2%

TransitScore® Rating

48/100

Units Available

249 Rentals

North Minneapolis is an affordable neighborhood in Minneapolis with an average rent price of $1,660. Compare this to the city average of $1,363. In the past year, rent prices have decreased by 3.2%. North Minneapolis provides easy access to Jordan Park, Minneapolis-St Paul International/Wold-Chamberlain, and Augsburg College. It’s a somewhat walkable neighborhood with a WalkScore® of 64.

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Methodology

Transit Score measures access to public transit. Scores range from 0 (minimal transit) to 100 (rider’s paradise). Learn more about the Transit Score methodology. Rental data is sourced from CoStar Group’s Market Trend reports. As a leading authority in commercial real estate information, analytics, and news, CoStar performs in-depth research to build and sustain an extensive database of commercial real estate insights.

We've combined this data with public records to provide the most current rental information available.