Apartments for Rent in Minneapolis, MN under $500 – 8 Rentals available
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3503 2Nd Ave. South, Minneapolis, MN 55408$1 - $2,073
- Studio-3 Beds
- 1 Baths
Available Today! -
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1132 South 8Th Street, Minneapolis, MN 55404$470 - $674
- Studio-1 Bed
- 1 Bath
Available Today!
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Minneapolis, MN Demographics
- Total Population411,452
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Female 208,322Male 203,130
- Median Age32.1
Average Rent in Minneapolis, MN
- Minneapolis, MN Average Rental Price, May 2019$1,457/mo
Minneapolis, MN Apartment Rent Ranges
- $501-$7002%
- $701-$1,00024%
- $1,001-$1,50037%
- $1,501-$2,00023%
- > $2,00014%
Minneapolis, MN Rent Trends
| Average Rent | Jan / 2016 | May / 2016 | Sept / 2016 | Jan / 2017 | May / 2017 | Sept / 2017 | Jan / 2018 | May / 2018 | May / 2019 |
|---|---|---|---|---|---|---|---|---|---|
| Minneapolis, MN | $1,290 | $1,315 | $1,334 | $1,355 | $1,383 | $1,390 | $1,420 | $1,425 | $1,457 |
| National | $1,290 | $1,319 | $1,334 | $1,329 | $1,354 | $1,366 | $1,366 | $1,381 | $1,396 |
Average rent is projected to grow by 4% in 2018 compared to 2017.
Please note that projected rent growth is calculated at city level.
Average rent values on this page are aggregated from data from the following zip codes: 551115540155402554035540455405554065540755408554095541055411554125541355414554155541655417554185541955422554235542955430554505545455455
Check out the average rent prices in Minneapolis by neighborhood.
Minneapolis, MN Households
- Total Number of Households172,082
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Family 76,555Non-family 95,527
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Children 39,906No Children 132,176
- Average People Per Household2.29
- Median Household Income$55,720
- Median Housing Costs Per Month$1,103
Minneapolis, MN Education Statistics
- No High School5%
- Some High School23%
- Some College21%
- Associate Degree7%
- Bachelor Degree28%
- Graduate Degree16%
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, RENTCafé 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.
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 $400 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.