Best Affordable Neighborhoods in Minneapolis, MN
Some of the cheapest neighborhoods in Minneapolis are Cherry Meadows, Shingle Creek Terrace, and Lowry Hill E Residential District. These neighborhoods offer some of the lowest rent prices in Minneapolis, making them ideal for renters on a budget. As of December 29, 2025, the average rent in Minneapolis is $1,386, which is 2.5% 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
$939/Month
TransitScore® Rating
29/100
Units Available
22 Rentals
When you’re looking for a great Minneapolis neighborhood on a budget, check out Cherry Meadows. The average rent is $939, compared to the city average of $1,386. Cherry Meadows is convenient to Minneapolis College, Target Field Station Platform 2, and Minneapolis-St Paul International/Wold-Chamberlain. The community is car-dependent with a WalkScore® of 33.
Shingle Creek Terrace
Average Rent
$1,000/Month
Units Available
11 Rentals
Shingle Creek Terrace is an affordable neighborhood in Minneapolis with an average rent price of $1,000. Compare this to the city average of $1,386. Shingle Creek Terrace provides easy access to Minneapolis College, University of St. Thomas, and Zanebrook Shopping Center.
Lowry Hill E Residential District
Average Rent
$1,008/Month
TransitScore® Rating
57/100
Units Available
29 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 $1,008, while the city’s average stands at $1,386. Lowry Hill E Residential District is near Minneapolis College, Uptown Row, and Target Field Station Platform 2.
The Ponds
Average Rent
$1,009/Month
Units Available
273 Rentals
The Ponds is a top choice for budget-conscious renters for a variety of reasons. The average rent in The Ponds is $1,009 while the city average is $1,386. Residents enjoy convenient access to Bohanon Park, Victory Park, and North Hennepin Comm. Coll..
Unity Place
Average Rent
$1,011/Month
TransitScore® Rating
36/100
Units Available
274 Rentals
When you’re looking for a great Minneapolis neighborhood on a budget, check out Unity Place. The average rent is $1,011, compared to the city average of $1,386. Unity Place is convenient to West Coon Rapids Dam Visitor Center, Nicollet Mall Station, and Target Field Station Platform 2. The community is car-dependent with a WalkScore® of 39.
Sunnyside
Average Rent
$1,065/Month
TransitScore® Rating
57/100
Units Available
70 Rentals
Sunnyside is an affordable neighborhood in Minneapolis with an average rent price of $1,065. Compare this to the city average of $1,386. Sunnyside provides easy access to Minneapolis College, Government Plaza Station, and Mueller Park. It’s a walkable neighborhood with a WalkScore® of 92.
Stevens Square
Average Rent
$1,089/Month
Year-Over-Year Rent Change
1.3%
TransitScore® Rating
68/100
Units Available
120 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 $1,089, while the city’s average stands at $1,386. In the last year, prices have increased by 1.3%. Stevens Square is near North Central University, Minneapolis College, and Nicollet Mall Station.
Stevens Square Historic District
Average Rent
$1,112/Month
TransitScore® Rating
70/100
Units Available
79 Rentals
Stevens Square Historic District is a top choice for budget-conscious renters for a variety of reasons. The average rent in Stevens Square Historic District is $1,112 while the city average is $1,386. Residents enjoy convenient access to Franklin Steele Square, North Central University, and University of St. Thomas. The neighborhood is considered walkable with a WalkScore® of 91.
Hawthorne
Average Rent
$1,113/Month
Year-Over-Year Rent Change
2.2%
TransitScore® Rating
47/100
Units Available
24 Rentals
When you’re looking for a great Minneapolis neighborhood on a budget, check out Hawthorne. The average rent is $1,113, compared to the city average of $1,386. Rent prices have increased by 2.2%. Hawthorne is convenient to North Central University, Minneapolis College, and Orvin ""Ole"" Olson Park. The community is somewhat walkable with a WalkScore® of 63.
Powderhorn Park
Average Rent
$1,136/Month
Year-Over-Year Rent Change
0.7%
TransitScore® Rating
53/100
Units Available
13 Rentals
Powderhorn Park is an affordable neighborhood in Minneapolis with an average rent price of $1,136. Compare this to the city average of $1,386. In the past year, rent prices have increased by 0.7%. Powderhorn Park provides easy access to Minneapolis-St Paul International/Wold-Chamberlain, 38Th Street Station, and Stewart Park. It’s a walkable neighborhood with a WalkScore® of 81.
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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.