Most Affordable Neighborhoods in Minneapolis, MN
Some of the cheapest neighborhoods in Minneapolis are Whittier, Dinkytown, and East Calhoun. These neighborhoods offer some of the lowest rent prices in Minneapolis, making them ideal for renters on a budget. As of April 26, 2025, the average rent in Minneapolis is $1,370, which is 0.5% 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
$1,182/Month
Year-Over-Year Rent Change
0.8%
TransitScore® Rating
61/100
Units Available
185 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.
Dinkytown
Average Rent
$1,412/Month
Year-Over-Year Rent Change
2.4%
TransitScore® Rating
65/100
Units Available
148 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.
East Calhoun
Average Rent
$1,439/Month
Year-Over-Year Rent Change
0.7%
TransitScore® Rating
53/100
Units Available
125 Rentals
East Calhoun is a top choice for budget-conscious renters for a variety of reasons. The average rent in East Calhoun is $1,439 while the city average is $1,370. This is a 0.7% difference from last year. Residents enjoy convenient access to Warehouse District/Hennepin Avenue Station, Uptown Row, and Lyndale Farmstead Park. The neighborhood is considered walkable with a WalkScore® of 84.
Loring Park
Average Rent
$1,455/Month
Year-Over-Year Rent Change
0.5%
TransitScore® Rating
73/100
Units Available
272 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
$1,485/Month
Year-Over-Year Rent Change
3%
TransitScore® Rating
46/100
Units Available
280 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
$1,504/Month
Year-Over-Year Rent Change
0.9%
TransitScore® Rating
21/100
Units Available
354 Rentals
When you’re looking for a great Minneapolis neighborhood on a budget, check out Glenwood Junction. The average rent is $1,504, compared to the city average of $1,370. Rent prices have increased by 0.9%. Glenwood Junction is convenient to Nicollet Mall Station, West Medicine Lake Park, and New Hope City Center. The community is car-dependent with a WalkScore® of 43.
Marcy-Holmes
Average Rent
$1,605/Month
Year-Over-Year Rent Change
0.7%
TransitScore® Rating
64/100
Units Available
242 Rentals
Marcy-Holmes is an affordable neighborhood in Minneapolis with an average rent price of $1,605. Compare this to the city average of $1,370. In the past year, rent prices have increased by 0.7%. Marcy-Holmes provides easy access to Junction & Blue Green Crossover, East Bank Station, and Minneapolis-St Paul International/Wold-Chamberlain. It’s a walkable neighborhood with a WalkScore® of 87.
North Minneapolis
Average Rent
$1,606/Month
Year-Over-Year Rent Change
2.5%
TransitScore® Rating
48/100
Units Available
248 Rentals
If you’re looking for a great, affordable neighborhood in Minneapolis, North Minneapolis might be the perfect place! It has an average rent price of $1,606, while the city’s average stands at $1,370. In the last year, prices have decreased by 2.5%. North Minneapolis is near Government Plaza Station, Camden, and North Central University.
Uptown Minneapolis
Average Rent
$1,622/Month
Year-Over-Year Rent Change
1.3%
TransitScore® Rating
57/100
Units Available
490 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
$1,629/Month
Year-Over-Year Rent Change
1.7%
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 $1,629 while the city average is $1,370. This is a 1.7% difference from last year. Residents enjoy convenient access to Stadium Village, Luxton Park, and University of Minnesota. The neighborhood is considered walkable with a WalkScore® of 76.
Ready to make your move to Minneapolis? Check out the rent specials, price drops, and great deals on ApartmentFinder.com!
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.