Cheapest Neighborhoods in Minneapolis, MN
Some of the cheapest neighborhoods in Minneapolis are Van Nests, Longfellow, and Willard-Hay. These neighborhoods offer some of the lowest rent prices in Minneapolis, making them ideal for renters on a budget. As of September 28, 2026, the average rent in Minneapolis is $1,412, which is 1.9% 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.
Van Nests
Average Rent
$997/Month
Units Available
17 Rentals
If you’re looking for a great, affordable neighborhood in Minneapolis, Van Nests might be the perfect place! It has an average rent price of $997, while the city’s average stands at $1,412. Van Nests is near Minneapolis College, Lyndale Farmstead Park, and Highland Plaza Shopping Center.
Longfellow
Average Rent
$1,085/Month
Year-Over-Year Rent Change
0.9%
Units Available
70 Rentals
Longfellow is a top choice for budget-conscious renters for a variety of reasons. The average rent in Longfellow is $1,085 while the city average is $1,412. This is a 0.9% difference from last year. Residents enjoy convenient access to Westgate Station, Cedar Avenue Field Park, and Minneapolis-St Paul International/Wold-Chamberlain.
Willard-Hay
Average Rent
$1,128/Month
Year-Over-Year Rent Change
1.9%
Units Available
26 Rentals
When you’re looking for a great Minneapolis neighborhood on a budget, check out Willard-Hay. The average rent is $1,128, compared to the city average of $1,412. Rent prices have increased by 1.9%. Willard-Hay is convenient to West Broadway, Nicollet Mall Station, and Farwell Park.
Powderhorn Park
Average Rent
$1,142/Month
Year-Over-Year Rent Change
1.3%
Units Available
19 Rentals
Powderhorn Park is an affordable neighborhood in Minneapolis with an average rent price of $1,142. Compare this to the city average of $1,412. In the past year, rent prices have increased by 1.3%. Powderhorn Park provides easy access to Corcoran Park, Junction & Blue Green Crossover, and University of St. Thomas.
Ventura Village
Average Rent
$1,160/Month
Year-Over-Year Rent Change
1.5%
Units Available
15 Rentals
If you’re looking for a great, affordable neighborhood in Minneapolis, Ventura Village might be the perfect place! It has an average rent price of $1,160, while the city’s average stands at $1,412. In the last year, prices have increased by 1.5%. Ventura Village is near Stewart Park, North Central University, and Franklin Steele Square.
Skyway
Average Rent
$1,167/Month
Year-Over-Year Rent Change
2.5%
Units Available
10 Rentals
Skyway is a top choice for budget-conscious renters for a variety of reasons. The average rent in Skyway is $1,167 while the city average is $1,412. This is a 2.5% difference from last year. Residents enjoy convenient access to Minneapolis-St Paul International/Wold-Chamberlain, Timber Shores Park, and Bohanon Park.
Willow Park
Average Rent
$1,171/Month
Year-Over-Year Rent Change
2.5%
Units Available
13 Rentals
Situated in the heart of Saint Louis Park, Willow Park is close to a variety of shops and restaurants. It's also convenient to Westwood Hills Nature Center, a 160-acre nature park, and is home to Northside Park, a community park with a playground and ball fields.
Whittier
Average Rent
$1,191/Month
Year-Over-Year Rent Change
0.3%
Units Available
255 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.
Jordan
Average Rent
$1,199/Month
Year-Over-Year Rent Change
1.7%
Units Available
17 Rentals
When you’re looking for a great Minneapolis neighborhood on a budget, check out Jordan. The average rent is $1,199, compared to the city average of $1,412. Rent prices have increased by 1.7%. Jordan is convenient to Augsburg College, Hawthorn Crossing, and Nicollet Mall Station.
Stevens Square
Average Rent
$1,200/Month
Units Available
112 Rentals
Stevens Square is an affordable neighborhood in Minneapolis with an average rent price of $1,200. Compare this to the city average of $1,412. In the past year, rent prices have decreased by 0%. Stevens Square provides easy access to Minneapolis College, Village Center, and Nicollet Mall Station.
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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.