Apartments for Rent in Minnesota under $500
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Ask for pricingIncome restricted4.5 (3)1593 Hartwell Drive, Carver, MN 55315Pet friendly • Fitness center • Dishwasher
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Studio $175+Base rent4.0 (8)154 East Broadway, Monticello, MN 55362Apply online
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2 bd $412+Base rent Income restricted3.5 (17)1144 Barclay Street, St. Paul, MN 55106-3538Apply online • Pet friendly • In unit laundry
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2 bd $412+Base rent Income restricted3.5 (25)1144 Barclay Street, St. Paul, MN 55106-3538Apply online • Pet friendly • In unit laundry
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2 bd $475+Base rent Income restricted4.5 (1)375 Lake View Drive, Woodbury, MN 55129Pet friendly • In unit laundry • Air conditioner
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Ask for pricingIncome restricted4.5 (3)1593 Hartwell Drive, Carver, MN 55315Pet friendly • Fitness center • Dishwasher
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2 bd $340Base rent3.5 (1)204 14Th Street South, Moorhead, MN 56560Pet friendly -
2 bd $395+3 bd $455+Base rent1601 15Th Street SE, Willmar, MN 56201Fitness center • Dishwasher
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Studio $245Base rent13404 Wentworth Ave Burnsville, MN 55337, Burnsville, MN 55337Pet friendly -
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Studio $150+Base rent2510 20Th Ave South, Moorhead, MN 56560Pet friendly -
1 bd $500Base rent301 Luverne Street, Magnolia, MN 56158Dishwasher • Air conditioner
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1 bd $500Base rent301 Luverne Street, Magnolia, MN 56158Cat friendly • Dishwasher • Air conditioner
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Frequently asked questions
When were prices and availability in Minnesota last updated?
Prices and availability in Minnesota were last updated on 10 Aug 2026.
What are the best apartments in Minnesota?
The best apartments in Minnesota are: Durham, Churchill, Lake Jonathan Flats, The Park Apartments and Terra Pointe Apartments.
What type of rental buildings are in Minnesota?
In Minnesota 28% of the housing is rented out compared to 72% of homes are owned, according to the most recent Census Bureau estimates. 28% of Minnesota's apartments are found in large buildings of 50 units or more, 53% are located in smaller apartment complexes with less than 50 units, and 17% are single-family rentals.
Renting apartments in Minnesota under $500
Searching for apartments for rent in Minnesota under $500 is not an easy task, but luckily you have come to the right place. Whether you are a student on a budget, a young professional on the move, or simply a frugal person, RentCafe can help you find what you are looking for. Just make sure you know what you consider non-negotiable and what you can compromise on. Your new home is just a few clicks away. In Minnesota, where the average rent is $636 per month, there are 16 units available for less than $500. Click on any of these units to see pictures, floor plans, amenities and more. After you have picked your favorite, you can contact the property to check availability. Considering that you are trying to spend as little as possible, looking at 1 bedroom apartments and studio apartments might be a good idea.
We’ll help you find the cheapest rental near you
Finding a nice cheap apartment is by no means impossible. You just have to be patient. Your “apartments near me under $500” search can bear fruit sooner than you think if you look carefully and check our site often. You never know when discount deals and special offers might pop up. Keep in mind that you are not the only one looking for an affordable apartment in Minnesota. Choose “Save Search” to receive the latest apartments available directly to your inbox. This way, you will be able to stay one step ahead of the competition. With the cheapest apartments in Minnesota going for $150 per month, there are great deals waiting to be discovered. Feeling lucky? Expand your search to 2 bedroom apartments and 3 bedroom apartments as well for more space.