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 16, 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 a top choice for budget-conscious renters for a variety of reasons. The average rent in East Calhoun is $1,392 while the city average is $1,364. This is a 1% difference from last year. Residents enjoy convenient access to Franklin Avenue Station, William Berry Park, and Seven Points Uptown. The neighborhood is considered walkable 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

When you’re looking for a great Minneapolis neighborhood on a budget, check out Glenwood Junction. The average rent is $1,594, compared to the city average of $1,364. Rent prices have increased by 0.3%. Glenwood Junction is convenient to New Hope City Center, West Medicine Lake Park, and North Central University. The community is car-dependent with a WalkScore® of 43.

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 an affordable neighborhood in Minneapolis with an average rent price of $1,606. Compare this to the city average of $1,364. In the past year, rent prices have increased by 1.2%. Marcy-Holmes provides easy access to University of Minnesota, Government Plaza Station, and Stadium Village. It’s a walkable neighborhood 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

If you’re looking for a great, affordable neighborhood in Minneapolis, Prospect Park might be the perfect place! It has an average rent price of $1,612, while the city’s average stands at $1,364. In the last year, prices have increased by 4.3%. Prospect Park is near University of Minnesota, Augsburg College, and Matthews Park.

North Minneapolis

Average Rent

$1,644/Month

TransitScore® Rating

23/100

Units Available

268 Rentals

North Minneapolis is a top choice for budget-conscious renters for a variety of reasons. The average rent in North Minneapolis is $1,644 while the city average is $1,364. Residents enjoy convenient access to Hawthorn Crossing, Target Field Station, and Nicollet Mall Station. The neighborhood is considered somewhat walkable 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.