Welcome to Minneapolis, Minnesota, the City of Lakes! With a thriving fine arts scene and an enviable public park system, this city is a popular destination for residents looking to enjoy a blend of cityscape and midwestern greenspace. Enticing as it sounds, it’s no secret that big-city living can come with an even bigger price tag. The culture, social life, and available entertainment often come with a cost: your housing price.
While finding an apartment close to all the excitement can be expensive, it is possible to work, play, and rent at a reasonable price. We’ve compiled a list to help you experience the best of Minneapolis without breaking the bank. The five cheapest neighborhoods in Minneapolis in 2023 are:
Whittier
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Average 1-bedroom rent in Minneapolis: $1,293/month
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Average 1-bedroom rent in Whittier: $1,013/month
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Median Home Value in Whittier: $230,000
Whittier is a charming neighborhood less than two miles from the center of downtown Minneapolis. Population 14,000, Whittier is known for its diverse community, represented through its residents and wide selection of dining options on “Eat Street,” including Vietnamese, Caribbean, Chinese, and Middle Eastern Cuisine.
Don’t forget your walking shoes! This neighborhood is highly walkable, with over one-third of residents commuting to work on foot every day. For those who choose to forgo the extra steps, residents of Whittier enjoy easy access to I-35W for a quick commute to work or the city.
Things to do in Whittier, MN
If you’re new to “The International Neighborhood,” there are a few obligatory experiences to help you get settled as a local. First, visit the Minneapolis Institute of Arts, where admission is free, and you can enjoy a variety of collections from photography to ceramics. Then, head to the Midtown Greenway for a walk or bike ride in the sun. End your day sampling authentic ethnic cuisine down the street from your front door.
East Bde Maka Ska
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Average 1-bedroom rent in Minneapolis: $1,293/month
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Average 1-bedroom rent in East Bde Maka Ska: $1,088/month
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Median Home Value in East Bde Maka Ska: $415,000
Sitting twenty minutes from downtown Minneapolis, East Bde Maka Ska is a quiet neighborhood that enjoys a slower pace of life than the surrounding city. The area is tucked away by Lake Bde Maka Ska, with easy access to I-35W for those commuting into the city.
Things to do in East Bde Maka Ska, MN
Perhaps the most inviting aspect of East Bde Maka Ska is its equal offerings of outdoor activity, shopping, dining, and nightlife. Due to its proximity to the lake, outdoor and water sports fill residents’ free time. Locals enjoy kayaking and paddle boarding on the serene water, while others bike and run on surrounding trails.
East Bde Maka Ska is just minutes from Minneapolis’s Uptown commercial district. The area is a hot spot for fine dining and upscale retail. On any given night, locals can enjoy a high-quality dinner and a night out within miles of their home.
Loring Park
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Average 1-bedroom rent in Minneapolis: $1,293/month
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Average 1-bedroom rent in Loring Park: $1,254/month
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Median Home Value in Loring Park: $255,000
The Loring Park neighborhood, known for its titular landmark, is a verdant residential area less than a mile away from the center of Minneapolis. With a population of just over 7,000, the neighborhood feels quiet and safe, offering residents a breath of fresh air right outside of the city. Locals head south toward I-94 for a quick commute into downtown Minneapolis.
Things to do in Loring Park, MN
Although the Loring Park neighborhood is small, it is home to an abundance of walking trails, coffee shops, chain and local restaurants, and boutiques and retail stores. Loring Park is a favorite spot for local entertainment, featuring a community garden, tennis court, wading pool, shuffleboard court, and dog park for residents’ enjoyment. The park even hosts seasonal events, including an ice-skating rink in the winter and “Movies and Music” during the summer months. In addition, the neighborhood is close to popular landmarks, such as the Basilica of St. Mary and the Minneapolis Convention Center.
South Minneapolis
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Average 1-bedroom rent in Minneapolis: $1,293/month
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Average 1-bedroom rent in South Minneapolis: $1,062/month
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Median Home Value in South Minneapolis: $350,000
South Minneapolis is a cluster of communities just south of downtown, with plenty of shopping, dining, and fine art experiences to keep residents on their toes. The area is an expansive blend of cozy residences and cafes, city streets and attractions, and outdoor beauty that engages locals of all interests and walks of life.
Things to do in South Minneapolis, MN
Because South Minneapolis encompasses several different communities, there is no shortage of things to do in this area. Minnehaha Falls is one of Minneapolis’ most popular regional parks. It sits southeast of the city and offers biking and walking trails, disc golf courses, volleyball courts, and a wading pool for residents’ enjoyment.
Over in Kingfield, head to the seasonal farmer’s market - open May through October on Sundays – to find handcrafted pastries, in-season produce, and locally ground coffee. To get your fill of authentic global cuisine, stroll Lake Street and take in the culture, history, and bites from around the world.
During the summer, finish your weekend strong with June’s annual Porchfest, where dozens of bands perform live from residents’ porches throughout the city. Grab a drink and a bite to eat and join the community in exploring the neighborhood streets.
Glenwood Junction
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Average 1-bedroom rent in Minneapolis: $1,293/month
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Average 1-bedroom rent in Glenwood Junction: $1,195/month
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Median Home Value in Glenwood Junction: $350,000
Glenwood Junction is a coveted residential neighborhood about three miles northwest of Downtown Minneapolis. Rated as one of the top suburbs in the city, this neighborhood caters to families, students, and professionals with its highly-rated schools and proximity to the city center. Residents love how safe the area feels, with well-maintained streets and plenty of family-friendly parks nearby. Commuters enjoy easy access to Highway 55 for a quick trip into the city.
Things to do in Glenwood Junction, MN
This neighborhood is perfect for residents who would rather make an intentional trip to the city rather than have the excitement right outside their front door. Glenwood Junction is quiet and quaint, with a few restaurants and shopping centers within driving distance from homes and rentals. Locals bike tree-lined streets to get to Theodore Wirth Regional Park, the largest park in the Minneapolis park system, and enjoy the playgrounds, soccer fields, and tennis courts available for recreation.
Make the Most of Your Move with Apartments.com
Whether you’re dropping in for a short-term lease or hoping to set down roots, Apartments.com has the tools to help you find an affordable apartment easily. Navigate housing across neighborhoods with our customized search engine. Once you find the perfect location, narrow the search to a price range that works for you.
No matter the budget, the options are endless with Apartments.com. Ready to get started? Pay less, live more, and rent on.
*Apartment rent data provided by CoStar Group’s October 2023 reports
