Best Affordable Neighborhoods in Saint Louis Park, MN
Some of the cheapest neighborhoods in Saint Louis Park are Meadowbrook, Aquila, and Sunset Gables. These neighborhoods offer some of the lowest rent prices in Saint Louis Park, making them ideal for renters on a budget. As of March 19, 2026, the average rent in Saint Louis Park is $1,517, 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.
Meadowbrook
Average Rent
$1,201/Month
Year-Over-Year Rent Change
2%
Units Available
34 Rentals
If you’re looking for a great, affordable neighborhood in Saint Louis Park, Meadowbrook might be the perfect place! It has an average rent price of $1,201, while the city’s average stands at $1,517. In the last year, prices have increased by 2%. Meadowbrook is near North Central University, Target Field Station, and Warehouse District/Hennepin Avenue Station.
Aquila
Average Rent
$1,354/Month
Year-Over-Year Rent Change
1.5%
Units Available
51 Rentals
From the shops and restaurants that line Highway 7 to the fun-filled Aquila Park just south of Minnetonka Boulevard, Aquila is a popular neighborhood with a little bit of everything. From the easy commute into Minneapolis to hiking the Cedar Lake Trail, this friendly neighborhood is ideally located to enjoy it all.
Sunset Gables
Average Rent
$1,399/Month
Units Available
41 Rentals
Sunset Gables is a top choice for budget-conscious renters for a variety of reasons. The average rent in Sunset Gables is $1,399 while the city average is $1,517. Residents enjoy convenient access to Lake of the Isles, Lake Calhoun Park, and Cedar Commons.
Triangle
Average Rent
$1,534/Month
Year-Over-Year Rent Change
1.8%
Units Available
95 Rentals
Triangle offers a mix of residential and commercial spaces with easy access to parks and public transportation. Situated directly north of Bass Lake Park and west of Bde Maka Ska Lake, residents can enjoy an active outdoor lifestyle. A variety of shops and restaurants are located along Highway 7.
South Oak Hill
Average Rent
$1,636/Month
Units Available
24 Rentals
When you’re looking for a great Saint Louis Park neighborhood on a budget, check out South Oak Hill. The average rent is $1,636, compared to the city average of $1,517. South Oak Hill is convenient to Nicollet Mall Station, Minneapolis-St Paul International/Wold-Chamberlain, and Knollwood Village.
Cobblecrest
Average Rent
$1,644/Month
Year-Over-Year Rent Change
1.6%
Units Available
19 Rentals
Cobblecrest is a serene neighborhood known for its spacious homes and proximity to local parks and recreational facilities. Renters will enjoy the peaceful atmosphere and easy access to shopping and dining in nearby West End. The area is ideal for those seeking a quiet, suburban lifestyle with city conveniences.
Minikahda Terrace
Average Rent
$1,649/Month
Units Available
28 Rentals
Minikahda Terrace is an affordable neighborhood in Saint Louis Park with an average rent price of $1,649. Compare this to the city average of $1,517. Minikahda Terrace provides easy access to Park Village, Linden Hills Park, and William Berry Park.
Eliot
Average Rent
$1,676/Month
Year-Over-Year Rent Change
2.6%
Units Available
28 Rentals
Eliot is a quiet, residential neighborhood offering a variety of housing options, from single-family homes to apartments. Several parks are located in or near Eliot, including Eighteenth and Georgia Park, Cedar Knoll Park, and Dakota Dog Park. The neighborhood’s peaceful atmosphere is complemented by its easy access to major roadways.
Shelard Park
Average Rent
$1,737/Month
Year-Over-Year Rent Change
2.7%
Units Available
29 Rentals
If you’re looking for a great, affordable neighborhood in Saint Louis Park, Shelard Park might be the perfect place! It has an average rent price of $1,737, while the city’s average stands at $1,517. In the last year, prices have increased by 2.7%. Shelard Park is near Willow Grove Center, East Medicine Lake Park, and Minneapolis-St Paul International/Wold-Chamberlain.
Sorensen
Average Rent
$1,770/Month
Year-Over-Year Rent Change
1.7%
Units Available
23 Rentals
Framed by highways 7 and 100, Sorensen provides an easy commute to nearby Minneapolis. This quiet, residential suburb features several parks, like Keystone Park and Webster Park. Several shops, restaurants, and other businesses are located along Walker Street.
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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.