Cheapest Neighborhoods in Minneapolis, MN
Some of the cheapest neighborhoods in Minneapolis are Washburn-Fair Oaks District, Lowry Hill E Residential District, and Sunnyside. These neighborhoods offer some of the lowest rent prices in Minneapolis, making them ideal for renters on a budget. As of August 14, 2026, the average rent in Minneapolis is $1,425, which is 2.4% 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.
Washburn-Fair Oaks District
Average Rent
$1,071/Month
Units Available
73 Rentals
Washburn-Fair Oaks District is a top choice for budget-conscious renters for a variety of reasons. The average rent in Washburn-Fair Oaks District is $1,071 while the city average is $1,425. Residents enjoy convenient access to Clinton Field Park, Washburn Fair Oaks Park, and Minneapolis-St Paul International/Wold-Chamberlain.
Lowry Hill E Residential District
Average Rent
$1,077/Month
Units Available
40 Rentals
When you’re looking for a great Minneapolis neighborhood on a budget, check out Lowry Hill E Residential District. The average rent is $1,077, compared to the city average of $1,425. Lowry Hill E Residential District is convenient to Thomas Lowry Park, Warehouse District/Hennepin Avenue Station, and Minneapolis-St Paul International/Wold-Chamberlain.
Sunnyside
Average Rent
$1,084/Month
Units Available
89 Rentals
Sunnyside is an affordable neighborhood in Minneapolis with an average rent price of $1,084. Compare this to the city average of $1,425. Sunnyside provides easy access to Minneapolis College, Minneapolis-St Paul International/Wold-Chamberlain, and Whittier Park.
South Murray Lane
Average Rent
$1,113/Month
Units Available
10 Rentals
If you’re looking for a great, affordable neighborhood in Minneapolis, South Murray Lane might be the perfect place! It has an average rent price of $1,113, while the city’s average stands at $1,425. South Murray Lane is near St. Catherine University, 28Th Avenue Station, and Sea Life Minnesota.
Mattson Heights
Average Rent
$1,130/Month
Units Available
10 Rentals
Mattson Heights is a top choice for budget-conscious renters for a variety of reasons. The average rent in Mattson Heights is $1,130 while the city average is $1,425. Residents enjoy convenient access to 28Th Avenue Station, Bloomington Central Station, and Humphrey Terminal Station.
Powderhorn Park
Average Rent
$1,142/Month
Year-Over-Year Rent Change
0.3%
Units Available
19 Rentals
When you’re looking for a great Minneapolis neighborhood on a budget, check out Powderhorn Park. The average rent is $1,142, compared to the city average of $1,425. Rent prices have increased by 0.3%. Powderhorn Park is convenient to 38Th Street Station, Sibley Park, and Powderhorn Park.
Stevens Square Historic District
Average Rent
$1,143/Month
Units Available
94 Rentals
Stevens Square Historic District is an affordable neighborhood in Minneapolis with an average rent price of $1,143. Compare this to the city average of $1,425. Stevens Square Historic District provides easy access to Nicollet Mall Station, Minneapolis-St Paul International/Wold-Chamberlain, and Stevens Square Park.
Whittier
Average Rent
$1,146/Month
Year-Over-Year Rent Change
0.4%
Units Available
325 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.
Stevens Square
Average Rent
$1,147/Month
Year-Over-Year Rent Change
0.3%
Units Available
163 Rentals
If you’re looking for a great, affordable neighborhood in Minneapolis, Stevens Square might be the perfect place! It has an average rent price of $1,147, while the city’s average stands at $1,425. In the last year, prices have decreased by 0.3%. Stevens Square is near Warehouse District/Hennepin Avenue Station, Government Plaza Station, and Minneapolis College.
Willard-Hay
Average Rent
$1,153/Month
Year-Over-Year Rent Change
1.7%
Units Available
21 Rentals
Willard-Hay is a top choice for budget-conscious renters for a variety of reasons. The average rent in Willard-Hay is $1,153 while the city average is $1,425. This is a 1.7% difference from last year. Residents enjoy convenient access to Nicollet Mall Station, Target Field Station Platform 2, and Glen Gale Park.
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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.