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 March 17, 2025, the average rent in Minneapolis is $1,364, 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
$1,148/Month
Year-Over-Year Rent Change
0.5%
TransitScore® Rating
61/100
Units Available
201 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
$1,392/Month
Year-Over-Year Rent Change
1%
TransitScore® Rating
53/100
Units Available
159 Rentals
East Calhoun is an affordable neighborhood in Minneapolis with an average rent price of $1,392. Compare this to the city average of $1,364. In the past year, rent prices have increased by 1%. East Calhoun provides easy access to Lake Calhoun Park, Lund's Marketplace, and Bryant Square Park. It’s a walkable neighborhood with a WalkScore® of 84.
Dinkytown
Average Rent
$1,401/Month
Year-Over-Year Rent Change
2.1%
TransitScore® Rating
65/100
Units Available
153 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.
South Minneapolis
Average Rent
$1,452/Month
Year-Over-Year Rent Change
1.3%
TransitScore® Rating
46/100
Units Available
323 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.
Loring Park
Average Rent
$1,514/Month
Year-Over-Year Rent Change
0.9%
TransitScore® Rating
73/100
Units Available
281 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.
Glenwood Junction
Average Rent
$1,594/Month
Year-Over-Year Rent Change
0.3%
TransitScore® Rating
21/100
Units Available
323 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 $1,594, while the city’s average stands at $1,364. In the last year, prices have increased by 0.3%. Glenwood Junction is near Warehouse District/Hennepin Avenue Station, North Central University, and East Medicine Lake Park.
Marcy-Holmes
Average Rent
$1,606/Month
Year-Over-Year Rent Change
1.2%
TransitScore® Rating
64/100
Units Available
231 Rentals
Marcy-Holmes is a top choice for budget-conscious renters for a variety of reasons. The average rent in Marcy-Holmes is $1,606 while the city average is $1,364. This is a 1.2% difference from last year. Residents enjoy convenient access to Father Hennepin Bluffs Park, Water Power Park, and University of Minnesota. The neighborhood is considered walkable with a WalkScore® of 87.
Uptown Minneapolis
Average Rent
$1,609/Month
Year-Over-Year Rent Change
0.1%
TransitScore® Rating
57/100
Units Available
507 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
$1,612/Month
Year-Over-Year Rent Change
4.3%
TransitScore® Rating
61/100
Units Available
201 Rentals
When you’re looking for a great Minneapolis neighborhood on a budget, check out Prospect Park. The average rent is $1,612, compared to the city average of $1,364. Rent prices have increased by 4.3%. Prospect Park is convenient to Univ. of St Thomas, St. Paul, Stadium Village Station, and Stadium Village. The community is walkable with a WalkScore® of 76.
North Minneapolis
Average Rent
$1,644/Month
TransitScore® Rating
23/100
Units Available
268 Rentals
North Minneapolis is an affordable neighborhood in Minneapolis with an average rent price of $1,644. Compare this to the city average of $1,364. North Minneapolis provides easy access to Target Field Station, Glen Gale Park, and Minneapolis College. It’s a somewhat walkable neighborhood with a WalkScore® of 60.
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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.