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 June 13, 2025, the average rent in Minneapolis is $1,390, which is 1.7% 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

$928/Month

TransitScore® Rating

29/100

Units Available

53 Rentals

Cherry Meadows is a top choice for budget-conscious renters for a variety of reasons. The average rent in Cherry Meadows is $928 while the city average is $1,390. Residents enjoy convenient access to Shingle Creek Park, Bass Lake Road Center, and Broadway Village 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

233 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 $1,390. The Ponds is convenient to Zaneway Shopping Center, Government Plaza Station, and Timber Shores Park.

Apartments for Rent in The Ponds The Ponds Low Income Apartments

Unity Place

Average Rent

$1,015/Month

TransitScore® Rating

36/100

Units Available

237 Rentals

Unity Place is an affordable neighborhood in Minneapolis with an average rent price of $1,015. Compare this to the city average of $1,390. Unity Place provides easy access to Minneapolis-St Paul International/Wold-Chamberlain, Target Field Station Platform 1, and Minneapolis College. It’s a car-dependent neighborhood with a WalkScore® of 39.

Apartments for Rent in Unity Place Unity Place Low Income Apartments

Lowry Hill E Residential District

Average Rent

$1,030/Month

TransitScore® Rating

57/100

Units Available

33 Rentals

If you’re looking for a great, affordable neighborhood in Minneapolis, Lowry Hill E Residential District might be the perfect place! It has an average rent price of $1,030, while the city’s average stands at $1,390. Lowry Hill E Residential District is near North Central University, Mueller Park, and Kenwood Crossing.

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

The Landings

Average Rent

$1,034/Month

Units Available

17 Rentals

The Landings is a top choice for budget-conscious renters for a variety of reasons. The average rent in The Landings is $1,034 while the city average is $1,390. Residents enjoy convenient access to Government Plaza Station, Minneapolis College, and University of St. Thomas.

Apartments for Rent in The Landings The Landings Cheap Apartments

Shingle Creek Terrace

Average Rent

$1,035/Month

Units Available

32 Rentals

When you’re looking for a great Minneapolis neighborhood on a budget, check out Shingle Creek Terrace. The average rent is $1,035, compared to the city average of $1,390. Shingle Creek Terrace is convenient to Coon Rapids Dam Regional Park (Coon Rapids), Anoka-Ramsey C.C., Coon Rapids, and Target Field Station Platform 1.

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

Sunnyside

Average Rent

$1,078/Month

TransitScore® Rating

57/100

Units Available

87 Rentals

Sunnyside is an affordable neighborhood in Minneapolis with an average rent price of $1,078. Compare this to the city average of $1,390. Sunnyside provides easy access to North Central University, Minneapolis College, and Whittier Park. It’s a walkable neighborhood with a WalkScore® of 92.

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

Northland Estates

Average Rent

$1,107/Month

Units Available

26 Rentals

If you’re looking for a great, affordable neighborhood in Minneapolis, Northland Estates might be the perfect place! It has an average rent price of $1,107, while the city’s average stands at $1,390. Northland Estates is near Regal Theater Outlot, Humbolt Square, and Target Field Station Platform 1.

Apartments for Rent in Northland Estates Northland Estates Low Income Apartments

Mattson Heights

Average Rent

$1,132/Month

Units Available

26 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 $1,390. Residents enjoy convenient access to Wood Lake Nature Center, Town & County Shopping Center, 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

26 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 $1,390. South Murray Lane is convenient to Flick Business Center, Edward C. Solomon Park, and Town & County Shopping Center.

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.