Most Affordable Neighborhoods in Minneapolis, MN

Some of the cheapest neighborhoods in Minneapolis are Cherry Meadows, The Ponds, and Unity Place. These neighborhoods offer some of the lowest rent prices in Minneapolis, making them ideal for renters on a budget. As of July 29, 2025, the average rent in Minneapolis is $1,391, which is 2.9% 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.

Cherry Meadows

Average Rent

$1,004/Month

TransitScore® Rating

29/100

Units Available

42 Rentals

Cherry Meadows is a top choice for budget-conscious renters for a variety of reasons. The average rent in Cherry Meadows is $1,004 while the city average is $1,391. Residents enjoy convenient access to French Regional Park, Nicollet Mall Station, and Bass Lake Road Center. The neighborhood is considered car-dependent with a WalkScore® of 33.

Apartments for Rent in Cherry Meadows Cherry Meadows Low Income Apartments

The Ponds

Average Rent

$1,010/Month

Units Available

224 Rentals

When you’re looking for a great Minneapolis neighborhood on a budget, check out The Ponds. The average rent is $1,010, compared to the city average of $1,391. The Ponds is convenient to Victory Park, Minneapolis-St Paul International/Wold-Chamberlain, and Zanebrook Shopping Center.

Apartments for Rent in The Ponds The Ponds Low Income Apartments

Unity Place

Average Rent

$1,016/Month

TransitScore® Rating

36/100

Units Available

228 Rentals

Unity Place is an affordable neighborhood in Minneapolis with an average rent price of $1,016. Compare this to the city average of $1,391. Unity Place provides easy access to Warehouse District/Hennepin Avenue Station, Zanebrook Shopping Center, and Boulevard Market. It’s a car-dependent neighborhood with a WalkScore® of 39.

Apartments for Rent in Unity Place Unity Place Low Income Apartments

Shingle Creek Terrace

Average Rent

$1,018/Month

Units Available

16 Rentals

If you’re looking for a great, affordable neighborhood in Minneapolis, Shingle Creek Terrace might be the perfect place! It has an average rent price of $1,018, while the city’s average stands at $1,391. Shingle Creek Terrace is near Coon Rapids Dam Regional Park (Brooklyn Park), Anoka-Ramsey C.C., Coon Rapids, and Minneapolis-St Paul International/Wold-Chamberlain.

Apartments for Rent in Shingle Creek Terrace Shingle Creek Terrace Cheap Apartments

The Landings

Average Rent

$1,038/Month

Units Available

15 Rentals

The Landings is a top choice for budget-conscious renters for a variety of reasons. The average rent in The Landings is $1,038 while the city average is $1,391. Residents enjoy convenient access to Zaneway Shopping Center, Coon Rapids Dam Regional Park (Coon Rapids), and Springbrook Nature Center.

Apartments for Rent in The Landings The Landings Cheap Apartments

Lowry Hill E Residential District

Average Rent

$1,058/Month

TransitScore® Rating

57/100

Units Available

32 Rentals

When you’re looking for a great Minneapolis neighborhood on a budget, check out Lowry Hill E Residential District. The average rent is $1,058, compared to the city average of $1,391. Lowry Hill E Residential District is convenient to Uptown Square, Minneapolis-St Paul International/Wold-Chamberlain, and Minneapolis Sculpture Garden. The community is walkable with a WalkScore® of 93.

Apartments for Rent in Lowry Hill E Residential District Lowry Hill E Residential District Cheap Apartments Lowry Hill E Residential District Low Income Apartments

Edgewood Heights

Average Rent

$1,117/Month

TransitScore® Rating

22/100

Units Available

12 Rentals

Edgewood Heights is an affordable neighborhood in Minneapolis with an average rent price of $1,117. Compare this to the city average of $1,391. Edgewood Heights provides easy access to Edinburgh Plaza, Coon Rapids Dam Regional Park (Coon Rapids), and Springbrook Nature Center. It’s a car-dependent neighborhood with a WalkScore® of 7.

Sunnyside

Average Rent

$1,120/Month

TransitScore® Rating

57/100

Units Available

76 Rentals

If you’re looking for a great, affordable neighborhood in Minneapolis, Sunnyside might be the perfect place! It has an average rent price of $1,120, while the city’s average stands at $1,391. Sunnyside is near Cowles Conservatory, Minneapolis College, and Whittier Park.

Apartments for Rent in Sunnyside Sunnyside Cheap Apartments Sunnyside Low Income Apartments

Mattson Heights

Average Rent

$1,132/Month

Units Available

15 Rentals

Mattson Heights is a top choice for budget-conscious renters for a variety of reasons. The average rent in Mattson Heights is $1,132 while the city average is $1,391. Residents enjoy convenient access to Univ. of St Thomas, St. Paul, Bloomington Central Station, and Minneapolis-St Paul International/Wold-Chamberlain.

Apartments for Rent in Mattson Heights Mattson Heights Low Income Apartments

South Murray Lane

Average Rent

$1,132/Month

Units Available

15 Rentals

When you’re looking for a great Minneapolis neighborhood on a budget, check out South Murray Lane. The average rent is $1,132, compared to the city average of $1,391. South Murray Lane is convenient to Argosy University, Twin Cities, St. Catherine University, and Minnesota Valley Wetland Management District.

Apartments for Rent in South Murray Lane South Murray Lane Low Income Apartments

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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.