Most Affordable Neighborhoods in Minneapolis, MN
Some of the cheapest neighborhoods in Minneapolis are Whittier, East Calhoun, and South Minneapolis. These neighborhoods offer some of the lowest rent prices in Minneapolis, making them ideal for renters on a budget. As of December 26, 2024, the average rent in Minneapolis is $1,349, which is 0% lower 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
$1,142/Month
Year-Over-Year Rent Change
2%
TransitScore® Rating
61/100
Units Available
171 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
$1,327/Month
Year-Over-Year Rent Change
0.7%
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 $1,327 while the city average is $1,349. This is a 0.7% difference from last year. Residents enjoy convenient access to Bryant Square Park, Franklin Avenue Station, and Augsburg College. The neighborhood is considered walkable with a WalkScore® of 84.
South Minneapolis
Average Rent
$1,383/Month
Year-Over-Year Rent Change
1.6%
TransitScore® Rating
46/100
Units Available
320 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.
Dinkytown
Average Rent
$1,446/Month
Year-Over-Year Rent Change
1%
TransitScore® Rating
65/100
Units Available
140 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
$1,477/Month
TransitScore® Rating
73/100
Units Available
250 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.
Uptown Minneapolis
Average Rent
$1,515/Month
TransitScore® Rating
57/100
Units Available
443 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
$1,644/Month
Year-Over-Year Rent Change
6.1%
TransitScore® Rating
61/100
Units Available
168 Rentals
When you’re looking for a great Minneapolis neighborhood on a budget, check out Prospect Park. The average rent is $1,644, compared to the city average of $1,349. Rent prices have increased by 6.1%. Prospect Park is convenient to Riverside Park, East River Flats Park, and Minneapolis-St Paul International/Wold-Chamberlain. The community is walkable with a WalkScore® of 76.
Elliot Park
Average Rent
$1,698/Month
Year-Over-Year Rent Change
6.3%
TransitScore® Rating
79/100
Units Available
275 Rentals
Elliot Park is an affordable neighborhood in Minneapolis with an average rent price of $1,698. Compare this to the city average of $1,349. In the past year, rent prices have decreased by 6.3%. Elliot Park provides easy access to University of St. Thomas, Currie Park, and Cedar/Riverside Station. It’s a walkable neighborhood with a WalkScore® of 85.
St Anthony West
Average Rent
$1,729/Month
Year-Over-Year Rent Change
0.5%
TransitScore® Rating
54/100
Units Available
91 Rentals
St. Anthony West presents renters with a budget-friendly option close to the Mississippi River. Boom Island Park features beautiful river views and outdoor activities like kayaking and biking. Easy access to downtown Minneapolis adds to the neighborhood's convenience and appeal.
North Minneapolis
Average Rent
$1,750/Month
Year-Over-Year Rent Change
3.5%
TransitScore® Rating
48/100
Units Available
224 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 $1,750, while the city’s average stands at $1,349. In the last year, prices have decreased by 3.5%. North Minneapolis is near Augsburg College, Folwell Park, and Target Field Station Platform 2.
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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.