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Apartments for Rent in Minneapolis, MN under $500
77 Rentals Available

  • Top Rated for Staff
    Have rent special Rent Specials
    Flat J, 1 bedroom floor plan at Coze Flats, kitchen with white cabinets, stainless steel appliances and black granite countertops - Photo Gallery 2 Skyline view of downtown Minneapolis from the Flat H, 1 bedroom floor plan at Coze Flats - Photo Gallery 3
    1 day ago

    628 University Avenue SE, Minneapolis, MN 55414
    Contact for availability
    1 BED Ask for pricing
    Flat J, 1 bedroom floor plan at Coze Flats, kitchen with white cabinets, stainless steel appliances and black granite countertops - Photo Gallery 2 Skyline view of downtown Minneapolis from the Flat H, 1 bedroom floor plan at Coze Flats - Photo Gallery 3 Flat B studio apartment with large windows at Coze Flats with couch, accent chair, desk and queen sized bed - Photo Gallery 4 Coze Flats fitness center with a treadmill, elliptical, spin bike, free weights and kettle bells - Photo Gallery 5
    Property reviews
    4/5 Anonymous on Sep 30, 2020

    Very few issues or complaints! The few I had were resolved quickly.

  • Resident Rated
    Living Room at Greenway Apartments, Minnesota, 55408 - Photo Gallery 2 Unfurnished Living Room at Greenway Apartments, Minneapolis, MN, 55408 - Photo Gallery 3
    Today

    2736 Blaisdell Ave S, Minneapolis, MN 55408
    Available
    Studio Ask for pricing
    1 BED Ask for pricing
    Living Room at Greenway Apartments, Minnesota, 55408 - Photo Gallery 2 Unfurnished Living Room at Greenway Apartments, Minneapolis, MN, 55408 - Photo Gallery 3 Fully Furnished Kitchen at Greenway Apartments, Minneapolis, Minnesota - Photo Gallery 4 Granite Countertop Kitchen at Greenway Apartments, Minneapolis - Photo Gallery 5
    Property reviews
    5/5 Hussien on Apr 12, 2022

    The current Community Manager at Greenway apt is Awesome and very helpful and informative when need information in regards of rent help, also has referred me to the right people to help me

    5/5 Habib M. on Jan 6, 2022

    Nice Area location

  • 1 day ago

    1515 Chicago Avenue S., Minneapolis, MN 55404
    Income Restricted
    Studio $486
  • Today

    706 First Avenue North, Minneapolis, MN 55403
    Income Restricted
    Studio Ask for pricing
  • Today

    5511 Minnehaha Ave South, Minneapolis, MN 55417
    Income Restricted
    Studio $460+
    1 BED Ask for Pricing
  • Today

    5019 East 54Th Street, Minneapolis, MN 55417
    Income Restricted
    Studio $474+
  • 1 day ago

    628 University Avenue SE, Minneapolis, MN 55414
    1 BED Ask for pricing
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  • Today

    1510 Laurel Ave, Minneapolis, MN 55403
    Income Restricted
    Studio $142
  • 1 day ago

    3301 Nicollet Avenue, Minneapolis, MN 55408
    Income Restricted
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    1 BED Ask for pricing
  • Today

    1247 St. Anthony, St. Paul, MN 55104
    Income Restricted
    Studio $433
  • Today

    10 East 4Th Street, St. Paul, MN 55101
    Income Restricted
    1 BED $195+
  • Today

    2736 Blaisdell Ave S, Minneapolis, MN 55408
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    1 BED Ask for pricing
  • Today

    2310 Aldrich Avenue South, Minneapolis, MN 55405
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    1 BED Ask for pricing
    2 BEDS Ask for pricing
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  • 12 days ago

    2944 17Th Ave S, Minneapolis, MN 55407
    Studio Ask for pricing
  • 24 days ago

    2300 Garfield Avenue, Minneapolis, MN 55405
    2 BEDS Ask for pricing
    5 BEDS Ask for pricing
  • Today

    1301 Olson Memorial Highway, Minneapolis, MN 55405
    Income Restricted
    1 BED Ask for pricing
    3 BEDS Ask for pricing
    4 BEDS Ask for pricing
  • Today

    1030 11Th Ave SE, Minneapolis, MN 55414
    Income Restricted
    3 BEDS Ask for pricing
  • 1062 days ago

    8525 Golden Valley Blvd, Golden Valley, MN 55427
    Studio Ask for pricing
  • Today

    932 Concordia Ave, St. Paul, MN 55104
    Income Restricted
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  • Today

    1306 Alton Street, St. Paul, MN 55116
    1 BED Ask for pricing
    2 BEDS Ask for pricing
  • Today

    2235 Rockwood Avenue, St. Paul, MN 55116
    1 BED Ask for pricing
    2 BEDS Ask for pricing
  • 286 days ago

    201 57Th Ave NE, Fridley, MN 55432
    Studio Ask for pricing
  • Today

    156 Peninsula Road, Medicine Lake, MN 55441
    Studio Ask for pricing
  • 1 day ago

    8007 Bass Lake Road, New Hope, MN 55428
    Income Restricted
    1 BED Ask for pricing
    2 BEDS Ask for pricing
    3 BEDS Ask for pricing
  • 1 day ago

    5550 69Th Avenue North, Brooklyn Park, MN 55429
    Income Restricted
    2 BEDS Ask for pricing
    3 BEDS Ask for pricing
13-12-city

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Getting around in Minneapolis, MN

85 /100
Very Walkable
72 /100
Excellent Transit
96 /100
Biker's Paradise
Walk Score®: 85, Transit Score®: 72, Bike Score®: 96

Frequently asked questions

When were prices and availability in Minneapolis, MN last updated?

Prices and availability in Minneapolis, MN were last updated on 24 Sep 2023.

What are the best apartments in Minneapolis, MN?

The best apartments in Minneapolis, MN are: Greenway Apartments, East River Plaza, Bolero Flats Apartments, The Abbott and Marquee.

What type of rental buildings are in Minneapolis, MN?

In Minneapolis, 52% of the residents are renting compared to 48% owning a home, according to data from the U.S. Census Bureau. Large-scale apartment buildings with more than 50 units represent 32% of Minneapolis’s rentals, 58% are small-scale complexes with under 50 units, and 10% are single-family rentals.

Renting apartments in Minneapolis, MN under $500

Searching for apartments for rent in Minneapolis, MN 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 Minneapolis, MN, where the average rent is $415 per month, there are 77 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 Minneapolis, MN. 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 Minneapolis, MN going for $142 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.

Finding a home nearby is easier than you think. Check out our Apartments Near Me page and take your pick!