How to Find an Apartment in Minneapolis, MN 2021

Moving to Minneapolis, you can't find a growing food scene, charm at a reasonable price. You can determine how to find an apartment in Minneapolis on your own or use our guide to make your life easier and find the best rental possible.

Ready to relocate and find a new apartment? Here's what to do to find the best neighborhood and apartment amenities in Minneapolis.

How to Find the Best Minneapolis Neighborhood

The best Minneapolis neighborhoods offer urban amenities, proximity to public transportation, and access to the best pubs, restaurants, and attractions. There are also plenty of options for quieter and less expensive apartments in Minneapolis. Whether you’re a college student or relocating with your family, you can find a Minneapolis neighborhood for you.

Regardless of what you’re looking for, you’ll find Midwestern charm and a decent cost of living in the best Minneapolis neighborhoods.

1. Whittier

The historic Whittier neighborhood sits south of Downtown Minneapolis and once housed wealthy business people and government workers in the 1800s. Today, this Minneapolis neighborhood is among the most affordable in the city, with a mix of apartment complexes and red-brick row houses. Millennials and college grads love the blend of multicultural businesses, bars, and restaurants.

2. Marcy - Holmes

Marcy-Holmes is among the oldest neighborhoods in Minneapolis, with industrial buildings turned into residential and commercial spaces. The neighborhood is popular with University of Minnesota college students thanks to trendy bars, live music, thrift stores, and cafes in the "Dinkytown district."

3. Warehouse District

The North Loop's Warehouse District features innovative start-ups, hip bars, and gay-friendly nightclubs. The area is also popular with start-ups and urban lovers looking for apartments and lofts nestled in converted warehouses.

4. Loring Park

Young professionals love living in Loring Park for its green space, bike paths, and lake. This Minneapolis neighborhood offers its share of restaurants, cafes, and independent shops. A namesake park attracts visitors and locals to a seasonal ice skating rink, fishing pier, and garden.

5. Lowry Hill East

Lowry Hill East dates back to the 1880s when a horse-drawn streetcar line connected the neighborhood to the rest of the city. Today, the area is home to commercial and residential growth with nearby bars, coffee shops, restaurants, and shops.

6. Downtown West

Downtown West serves as the business hub of Minneapolis, offering unique attractions, live music venues, restaurants, and the pedestrian-friendly Nicollet Mall. Locals can walk out their door to the Orpheum Theatre, Music Box Theatre, and The Minneapolis Central Library, with an impressive collection of art and rooftop garden.

7. Downtown East

Downtown East was known as the flour milling capital of the world, where warehouses eventually turned into apartments and lofts. Today, you'll find plenty of trendy lounges, cafes, shops, and the famous Mill City Museum, housed inside a landmark former flour mill.

Learn more about the best neighborhoods in Minneapolis here to find the best place for you.

How Much are Apartments in Minneapolis?

Considering moving to Minneapolis? Before you start packing, learn more about the average rent prices.

Average Rent in Minneapolis

• The average rent for a Minneapolis studio apartment is $1,269
• The average rent for a Minneapolis 1-bedroom apartment is $1,538
• The average rent for a Minneapolis 2-bedroom apartment is $2,434
• The average rent for a Minneapolis 3-bedroom apartment is $2,700

Minneapolis rents have increased by 0.32% compared to last month and are up by 0.42% compared to the same time since last year. Here's more information to help you determine your budget:

• 5% of apartments in Minneapolis cost less than $1,000 per month.
• 68% of apartments in Minneapolis cost between $1,000-$1,999 per month.
• 19% of apartments in Minneapolis cost between $2,000-$2,999 per month.
• 8% of apartments in Minneapolis cost over $3,000 per month.

How to Find Cheap Apartments in Minneapolis?

Minneapolis boasts a relatively inexpensive price tag, especially compared to big Midwestern cities like Chicago. Start apartment hunting to find a cheap apartment. Negotiating on a fixer-upper unit or choosing an apartment with an undesirable view can help score cheaper rent. Here are more tips on finding an apartment you can afford.

Move-in specials are one of the best ways to find an inexpensive apartment in Minneapolis. Some landlords will waive the application fee or security deposit, or offer the first month free or a longer lease term. Moving outside of your favorite neighborhood may yield cheaper rent. You can also move near public transportation where you can save more.

If you’re a first-time renter, make sure you know how to budget for your apartment accordingly. Our apartment budget checklist includes everything you need to factor into your expenses, including your move and renters' insurance. Minneapolis winters are notoriously snowy, so you’ll need to factor in a bigger budget for heat during the winter months. You can also look for an apartment in Minneapolis where utilities, or at least heat, are included.

Organization and preparation can go a long way in finding a cheap apartment in Minneapolis. Prepare all of your documentation and references for your tours for a quick win. It could mean all the difference in beating out your competition for an inexpensive lease.

What’s the Best Time to Find an Apartment in Minneapolis?

The best time to rent an apartment in Minneapolis depends on the season, which is true of most of the country. For renters, December through February is usually the best time of year to move when the market is slower. Even though Minneapolis locals are used to cold, snowy winters, they’re not eager to go apartment hunting until it warms up.

The summer months (July through September) are among the most popular for moving and are more competitive. You’re less likely to find a Minneapolis apartment deal during the summer season. Moving in the wintertime could land you some great deals as landlords look to fill their units.

If you have flexibility, time your move to match your budget. However, moving during the summer has its benefits. More leases end during the summer months and offer a larger selection during that time.

How to Find an Apartment?

Ready to find an apartment in Minneapolis? Here's the process to find your next place!

Determine Your Budget

Finding the best apartment in Minneapolis also means considering your budget and following the recommended 30% rule.

The rule states that 30% of your pre-taxed monthly take-home pay should go towards rent. This pre-taxed take-home pay figure is also referred to as gross income. To figure it out annually, take your gross annual salary and device by 40 to get the same number.

Are you looking for a one-bedroom apartment in Minneapolis with a rent of $1,500? Your gross income should hit right around $5,000 a month or about $60,000 a year.

Understand the True Cost of Renting

The 30% rule is an easy baseline tool, but you also need to consider the hidden costs when it comes to renting. How much apartment can you really afford? Budget for your hidden apartment expenses, including:

• Apartment application fees
• Security deposit
• Moving costs
• Pet deposit
• Move-in fees

It’s also important to consider what else is going on with your finances and obligations. If you’re struggling with student debt, medical expenses, and other debt, you may find the 30% rule doesn’t quite fit and should be adjusted.

Don’t worry, we simplified the process for you. Figure out how much rent you can afford to pay with Apartment List’s Rent Calculator we put together just for renters.

Set Your Apartment Priorities

Minneapolis is undergoing development and growth and comes with fabulous new apartment complexes. Older units may also prove less expensive, making them a good fit for smaller budgets. You can refine your Minneapolis apartment search by figuring out your apartment priorities, like amenities to budget.

Amenities

Make a list of your needs and wants for your next Minneapolis apartment, including things like outdoor space or bike storage. When you're clear on what you want in your perfect apartment, it’s easier to find.

Minneapolis Location/Neighborhood

Your personal preferences and ideals will shape the best Minneapolis neighborhood for you. The neighborhood amenities, attractions, walkability, and culture all take part in where you want to live. Apartments outside of the city or trendsetting neighborhoods will likely offer more space at a lower price point.

Minneapolis neighborhoods offer something for everyone from lively nightlife to quiet strolls. Create a balance for what you need and want most before signing your next apartment list.

Commute Time

Take your commute time into account when searching for your next Minneapolis apartment. Where you live will make a big impact on your quality of life and how much time you’ll spend getting to and from work.

Minneapolis’ walk score is 70, while the transit score is 57. The bike score is also an impressive 84. If you want to spend as little time as possible commuting, find a walkable neighborhood or choose your favorite mode of transportation.

Public Transportation in Minneapolis

Public transportation in Minneapolis is great for renters. The MetroTransit includes light rail, bus routes, and commuter rail. Nice Ride Minnesota also offers a bike-sharing service across 400 stations in the city.

Fares on the MetroTransit start at $2, while some areas in the Downtown Zone are free or $0.50. Renting an apartment in Minneapolis near your work or bike paths can also help keep your budget in check.

Prepare for Minneapolis Apartment Tours

Before signing a lease in Minneapolis, you’ll need to take an apartment tour. Seeing the unit in person and meeting your potential landlord makes the decision easier.

Get an idea of how the apartment application process works here.

The apartment tour is not the time to rush. Take your time looking around and make sure all the amenities in the listing are accounted for. You can also refer to your wish list during your tour. Bring a list of questions to ask like what the building rules are, extra fees for pets, and what colors you can paint your apartment.

Applying for Your Minneapolis Apartment

Bring proper documentation, including plenty of references. If you don’t have previous rental history, it’s not a deal-breaker. Personal references will suffice. If you’re new to renting, get familiar with the apartment application process.

In addition to references, bring cash or a credit card for your application fee. Many property managers also accept personal checks. If you fall in love with the unit, chances are it's highly desirable and you’ll want to secure it ASAP.

Protect Yourself from Rental Scams

Apartment hunting can be fun, but unfortunately, rental fraud and scams are a problem. Scams range from bait and switch listings to apartments that don’t even exist. These scams cost U.S. renters upwards of $5.2 million every year, and one in three people have lost over $1,000 after paying a security deposit that turned out to be a scam.

Protect yourself and know what to look out for to avoid rental scams. Trust your instincts, look for “too good to be true” deals, and only work with reputable landlords or property managers.

Ready to Rent?

Congratulations on your move! Minneapolis is a world-class city with a reasonable price tag. It’s filled with fabulous food, bike trails, and quick access to lakes and natural wonders.

Ready to move to Minneapolis? Apartment List is here to help you find your dream home.

Here’s how it works: First, we get to know you. You’ll answer a few simple questions and we’ll find the best matches – just for you. Then, we mix and match your personalized results, making it easy to discover places with the perfect combination of price, location, and amenities.