Cheapest Neighborhoods in Minneapolis, MN
Some of the cheapest neighborhoods in Minneapolis are Stevens Square, Skyway, and Ventura Village. These neighborhoods offer some of the lowest rent prices in Minneapolis, making them ideal for renters on a budget. As of June 30, 2026, the average rent in Minneapolis is $1,424, which is 2.3% 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.
Stevens Square
Average Rent
$1,141/Month
Year-Over-Year Rent Change
0.6%
Units Available
159 Rentals
Stevens Square is a top choice for budget-conscious renters for a variety of reasons. The average rent in Stevens Square is $1,141 while the city average is $1,424. This is a 0.6% difference from last year. Residents enjoy convenient access to Washburn Fair Oaks Park, 2400 S 3rd Ave, and Augsburg College.
Skyway
Average Rent
$1,146/Month
Year-Over-Year Rent Change
2.7%
Units Available
12 Rentals
When you’re looking for a great Minneapolis neighborhood on a budget, check out Skyway. The average rent is $1,146, compared to the city average of $1,424. Rent prices have increased by 2.7%. Skyway is convenient to Government Plaza Station, North Hennepin Comm. Coll., and Bohanon Park.
Ventura Village
Average Rent
$1,152/Month
Year-Over-Year Rent Change
1.7%
Units Available
16 Rentals
Ventura Village is an affordable neighborhood in Minneapolis with an average rent price of $1,152. Compare this to the city average of $1,424. In the past year, rent prices have increased by 1.7%. Ventura Village provides easy access to Peavey Park, Franklin Steele Square, and Franklin Circle Shopping Center.
Powderhorn Park
Average Rent
$1,154/Month
Year-Over-Year Rent Change
0.6%
Units Available
16 Rentals
If you’re looking for a great, affordable neighborhood in Minneapolis, Powderhorn Park might be the perfect place! It has an average rent price of $1,154, while the city’s average stands at $1,424. In the last year, prices have increased by 0.6%. Powderhorn Park is near Phelps Park, Cedar/Riverside Station, and 38Th Street Station.
Whittier
Average Rent
$1,166/Month
Year-Over-Year Rent Change
0.1%
Units Available
335 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.
Longfellow
Average Rent
$1,180/Month
Year-Over-Year Rent Change
0.5%
Units Available
54 Rentals
Longfellow is a top choice for budget-conscious renters for a variety of reasons. The average rent in Longfellow is $1,180 while the city average is $1,424. This is a 0.5% difference from last year. Residents enjoy convenient access to Minnehaha Lake Shopping Center, 38Th Street Station, and Franklin Avenue Station.
Willow Park
Average Rent
$1,186/Month
Units Available
18 Rentals
When you’re looking for a great Minneapolis neighborhood on a budget, check out Willow Park. The average rent is $1,186, compared to the city average of $1,424.
Harrison
Average Rent
$1,221/Month
Year-Over-Year Rent Change
3.4%
Units Available
45 Rentals
Harrison is an affordable neighborhood in Minneapolis with an average rent price of $1,221. Compare this to the city average of $1,424. In the past year, rent prices have decreased by 3.4%. Harrison provides easy access to Government Plaza Station, Lovell Square Park, and Minneapolis College.
Lyndale
Average Rent
$1,251/Month
Year-Over-Year Rent Change
3.1%
Units Available
60 Rentals
If you’re looking for a great, affordable neighborhood in Minneapolis, Lyndale might be the perfect place! It has an average rent price of $1,251, while the city’s average stands at $1,424. In the last year, prices have increased by 3.1%. Lyndale is near Painter Park, North Central University, and Franklin Avenue Station.
Phillips
Average Rent
$1,258/Month
Year-Over-Year Rent Change
0.9%
Units Available
22 Rentals
Phillips is a top choice for budget-conscious renters for a variety of reasons. The average rent in Phillips is $1,258 while the city average is $1,424. This is a 0.9% difference from last year. Residents enjoy convenient access to Minneapolis College, Government Plaza Station, and Stewart 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.