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Apartments Under $500 in Minneapolis, MN

1 - 18 of 18 Results
12
$100
2005-2009 Garfield Ave
Minneapolis, MN
Studio | Available Now
Contact
Stevens Square
1
$ Ask - 999
Newly Renovated Apartment In Historic Elliot Park
826 10th St S Minneapolis, MN
1 BR | Available Now
Contact
Dog Friendly
Cat Friendly
Surface Parking
Storage
Elliot Park
9
$ Ask - 1,299
Loring Grove Apartments
125 Oak Grove Street Minneapolis, MN
Studio - 1 BR | Available Now
Contact
Cat Friendly
Section 8
Air Conditioning
Surface Parking
Fitness Center
5
$ Ask - 925
2712 Pillsbury Ave S
Minneapolis, MN
1 BR | Available Now
Contact
Heat Included
Cat Friendly
Lowry Hill East
8
$ Ask - 664
The Continental
66 South 12th Street Minneapolis, MN
Studio | Ask for Availability
Contact
Dog Friendly
Cat Friendly
Income Restricted
Section 8
Dishwasher
5
$ Ask - 870
2120 Aldrich Ave S
Minneapolis, MN
Studio | Available Now
Contact
Storage
Lowry Hill East
4
$ Ask - 960
2222 Harriet Ave S
Minneapolis, MN
1 BR | Available Now
Cat Friendly
Storage
Lowry Hill East
5
$ Ask - 975
3439 Garfield Ave S
Minneapolis, MN
1 BR | Available Now
Contact
Cat Friendly
Air Conditioning
Carag
6
$ Ask - 1,300
Lorraine Court Apartments
2633 Girard Ave S Mineapolis, MN
1 - 2 BR | Available Now
Contact
Cat Friendly
Storage
East Isles
6
$ Ask - 1,100
Thornton Place
810 Thornton Street Se Minneapolis, MN
1 BR | Available Now
Contact
Heat Included
Cat Friendly
Air Conditioning
Balcony/Deck/Patio
Fitness Center
5
$ Ask - 999
2610/2618 Fremont Ave S
Minneapolis, MN
Studio - 1 BR | Available Now
Contact
Cat Friendly
Storage
East Isles
5
$ Ask - 1,215
Creek Terrace Apartments
616 W. 53rd Street Minneapolis, MN
2 BR | Available Now
Contact
Heat Included
Air Conditioning
Dishwasher
Lynnhurst
5
$ Ask - 985
Xerxes Manor
5625 & 5635 Xerxes Ave S Minneapolis, MN
1 BR | Available Now
Contact
Air Conditioning
Balcony/Deck/Patio
Dishwasher
Armatage
5
$ Ask - 1,150
2002 Garfield Ave S
Minneapolis, MN
2 BR | Available Now
Contact
Heat Included
Cat Friendly
Air Conditioning
Balcony/Deck/Patio
5
$ Ask - 1,100
1700/1710 Johnson Ave Ne
Minneapolis, MN
2 BR | Available Now
Contact
Heat Included
Air Conditioning
Storage
Northeast
5
$ Ask - 975
1325 W 27th St
Minneapolis, MN
1 BR | Available Now
Contact
Cat Friendly
Storage
East Isles
3
$ Ask - 1,125
3117 Girard Ave S
Minneapolis, MN
1 BR | Available Now
Contact
Cat Friendly
Uptown Minneapolis Apartments
1
$ Ask - 950
3201 Girard Ave S
Minneapoli, MN
1 BR | Available Now
Contact
Cat Friendly
Ecco
1 - 18 of 18 Results
  1. Home
  2. Minneapolis
  3. Apartments Under $500
Frequently Asked Questions

How many apartments under $500 are available in Minneapolis, MN on Rentable.co?

There are 18 apartments under $500 in Minneapolis currently available for rent on Rentable.co.

How many studio apartments under $500 are available in Minneapolis?

Rentable.co has 133 studio apartments under $500 available for rent in Minneapolis.

How many one-bedroom apartments under $500 are available in Minneapolis?

Rentable.co has 347 one-bedroom apartments under $500 available for rent in Minneapolis.

How many two-bedroom apartments under $500 are available in Minneapolis?

Rentable.co has 182 two-bedroom apartments under $500 available for rent in Minneapolis.

Can I afford a apartment under $500 in Minneapolis, MN?

To comfortably afford a apartment under $500 in Minneapolis based on average rent prices, a household would need an annual income of $4,000.

Which neighborhoods have the most apartments under $500 for rent in Minneapolis, MN?

  1. Uptown Minneapolis Apartments
  2. Carag
  3. Lowry Hill East
  4. Stadium Village
  5. Stevens Square

Apartments Under $500 in Minneapolis, MN: February Rental Information

Welcome to the February 2026 Minneapolis Apartment Report. In this assessment of the local rental market, Rentable data scientists and rental experts break down the February 2026 key findings and figures for the Minneapolis rental landscape.

Our experts analyze the inventory trends for apartments under $500 — overall market rent-distribution, availability by bedroom count, and month-over-month comparisons — in Minneapolis and surrounding areas. This summary also provides insight into available features and amenities, as well as location options for apartments under $500 in Minneapolis.

Stay tuned as we delve into the details and give you a comprehensive overview of the current rental market in Minneapolis. Whether you're a prospective renter or simply curious about the local rent prices, this report will equip you with valuable information to make informed decisions.
0 40 80 120 160 <$900 $940 $1,020 $1,100 $1,180 $1,260 $1,340 $1,420 $1,500 $1,580 $1,660 $1,740 $1,820 $1,900 $1,980 $2,060

Available Apartments Under $500: Minneapolis vs. Surrounding Areas

Minneapolis, MN
St Paul, MN
St Louis Park, MN
Minnetonka, MN
17
12
3
3
The chart above shows the current number of available apartments under $500 in Minneapolis, MN and the surrounding cities. As of February 2026, there are a total of 77 apartments fitting this criteria in the Minneapolis metro area. This includes apartments in Woodbury, Woodland, Minnetonka, Minnetonka Beach, Arden Hills, Minnetrista, St Marys Point, Dellwood, Burnsville, St Michael, St Paul, St Paul Park, Fridley, Tonka Bay, Wyoming, City of Scandia, Gem Lake, Hopkins, Savage, Lilydale, Hugo, Eagan, Lino Lakes, Mound, Carver, Mounds View, Shakopee, East Bethel, Little Canada, Plymouth, Independence, Golden Valley, Vadnais Heights, Inver Grove Heights, Centerville, Champlin, Eden Prairie, Chanhassen, Long Lake, Bayport, Chaska, Shoreview, Edina, Victoria, Prior Lake, New Brighton, Circle Pines, New Hope, Waconia, Elk River, New Market, Grant, Ramsey, Elko, Jordan, Newport, Greenfield, Mahtomedi, South St Paul, Greenwood, Richfield, Maple Grove, Watertown, Spring Park, Cologne, Columbia Heights, Columbus, Maple Plain, Birchwood, North Oaks, North St Paul, Ham Lake, Maplewood, Wayzata, Excelsior, Robbinsdale, Blaine, Coon Rapids, Corcoran, Rockford, Hanover, Oak Grove, Falcon Heights, Bloomington, Oak Park Heights, Rogers, West St Paul, Cottage Grove, Oakdale, Stillwater, Farmington, Hastings, Afton, Lake Elmo, White Bear Lake, Rosemount, Roseville, Crystal, Orono, Medicine Lake, Medina, Albertville, Lake St Croix Beach, Sunfish Lake, Mendota Heights, Osseo, Lakeland, Brooklyn Center, Lakeland Shores, Brooklyn Park, Otsego, Forest Lake, Lakeville, Dayton, St Anthony, St Bonifacius, Deephaven, Andover, St Francis, Anoka, Lauderdale, Apple Valley, Delano, Hudson, Prescott, North Hudson, St Louis Park, Hamel, and Spring Lake Park. This data is helpful for those searching for affordable housing in the Minneapolis area. Renters can utilize this information to find the best options within their budget.

Apartments Under $500 Now vs. Last Month: Minneapolis and Surrounding Areas

City Apartments Under $500 in February M/M % Change
Minneapolis, MN 17 +1.0%
St Paul, MN 12 +0.99%
St Louis Park, MN 3 +0.94%
Minnetonka, MN 3 +1.05%
New Hope, MN 3 +0.64%
Edina, MN 2 +1.0%
Bloomington, MN 2 +1.08%
Cottage Grove, MN 2 +1.0%
Brooklyn Park, MN 2 +1.0%
Anoka, MN 2 +1.0%

Looking for Apartments Under $500 in Minneapolis?

Available apartments under $500 470
Top amenities Fitness Center, Cable Ready, Elevator, 24 Hour Maintenance, Pet Friendly Community
Deals 37
Pet friendly 159
Utilities included 29
Furnished 23
1 Bedroom 86
2 Bedroom 56
3 Bedroom 13
Square footage 456 - 1,404

Where are Minneapolis Apartments Under $500?

Top Neighborhoods Uptown minneapolis apartments, Carag, Lowry hill east, Stadium village, Stevens square
Uptown Minneapolis Apartments 2
Carag 2
Lowry Hill East 2
Stadium Village 1
Stevens Square 1
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