The 10 Cheapest Minneapolis, MN Neighborhoods To Live In For 2019


We used science and data to determine which neighborhoods in Minneapolis are the cheapest of the cheap.

Editor’s Note: This is our first time ranking the cheapest neighborhoods to live in Minneapolis.
Cheapest Neighborhoods In Minneapolis

Everything else equal, I think we can all agree that living in a cheaper place is better than living in a more expensive place.

I’d much rather pay $500/mo in rent than $1,000. And I’d rather pay $2 for coffee than $5.

And while every neighbhorhood in Minneapolis might be more expensive than living in rural Minnesota, there are certain neighborhoods that are definitely cheaper.

So what exactly are those Minneapolis neighborhoods where your dollar goes a little further — you can get that one bedroom instead of the studio?

Instead of relying on public opinion and speculation, we wanted to get the facts straight and find out which neighborhoods in Minneapolis are the cheapest.

Here are the cheapest neighborhoods in Minneapolis for 2020:

  1. Cleveland (Homes)
  2. Waite Park (Homes)
  3. Bryant (Homes)
  4. Windom (Homes)
  5. Columbia Park (Homes)
  6. Shingle Creek (Homes)
  7. Audubon Park (Homes)
  8. Howe (Homes)
  9. McKinley (Homes)
  10. Field (Homes)

What’s the cheapest neighborhood to live in Minneapolis for 2020? According to the most recent census data, Cleveland looks to be the cheaptest Minneapolis neighborhood to live in.

At this point we should make it clear that you do get what you pay for — some of these neighborhoods might not be the best places to live in Minneapolis. You could be sacrificing location or crime rates in return for more space and cheaper groceries.

Read on to see how we determined the places around Minneapolis that deserve a little bragging rights or maybe you’re interested in the worst neighborhoods in Minneapolis.

Once you’re done, you can look at the bottom of the story for a complete chart of every neighborhood we looked at from cheapest to most expensive.

For more Minnesota reading, check out:

How We Determined The Cheapest Minneapolis Hoods In 2020

In order to rank the cheapest places to live in Minneapolis, we had to determine what criteria defines “cheap”.

Using census and extrapolated BLS data, we arrived at the following set of criteria:

  • Overall Cost Of Living
  • Rent To Income Ratio
  • Median Home Value To Income Ratio

We then ranked each neighborhood with scores from 1 to 83 in each category, where 1 was the cheapest.

Next, we averaged the rankings for each neighborhood to create a cheap neighborhood index.

And finally, we crowned the neighborhood with the lowest cheapest neighborhood index the “Cheapest City Neighborhood In Minneapolis.” We’re lookin’ at you, Cleveland.

Read on below to learn more about what it’s like to live in the cheapest places Minneapolis. Or skip to the end to see the list of all the neighborhoods in the city from cheapest to most expensive.

The 10 Cheapest Neighborhoods To Live In Minneapolis For 2020

Overall SnackAbility

7
/10

Population: 2,963
Cost Of Living Index: 93 (8th cheapest)
Home Value To Income Ratio: 2.4 (3rd cheapest)
Rent To Income Ratio: 0.012 (20th cheapest)
More on Cleveland: Homes For Sale | Data

The median income in Cleveland comes in at $50,544 and the median home value is $119,425 for 2020.

Overall SnackAbility

9
/10

Population: 5,394
Cost Of Living Index: 98 (20th cheapest)
Home Value To Income Ratio: 2.7 (18th cheapest)
Rent To Income Ratio: 0.005 (6th cheapest)
More on Waite Park: Homes For Sale | Data

The median income in Waite Park comes in at $70,752 and the median home value is $188,400 for 2020.

Overall SnackAbility

8
/10

Population: 3,032
Cost Of Living Index: 98 (20th cheapest)
Home Value To Income Ratio: 2.5 (10th cheapest)
Rent To Income Ratio: 0.011 (18th cheapest)
More on Bryant: Homes For Sale | Data

The median income in Bryant comes in at $65,570 and the median home value is $160,733 for 2020.

Overall SnackAbility

8
/10

Population: 4,028
Cost Of Living Index: 98 (20th cheapest)
Home Value To Income Ratio: 2.8 (23rd cheapest)
Rent To Income Ratio: 0.008 (11th cheapest)
More on Windom: Homes For Sale | Data

The median income in Windom comes in at $64,540 and the median home value is $177,780 for 2020.

Overall SnackAbility

7
/10

Population: 1,303
Cost Of Living Index: 97 (16th cheapest)
Home Value To Income Ratio: 2.9 (32nd cheapest)
Rent To Income Ratio: 0.009 (14th cheapest)
More on Columbia Park: Homes For Sale | Data

The median income in Columbia Park comes in at $57,275 and the median home value is $167,100 for 2020.

Overall SnackAbility

8
/10

Population: 3,210
Cost Of Living Index: 98 (20th cheapest)
Home Value To Income Ratio: 2.0 (1st cheapest)
Rent To Income Ratio: 0.016 (41st cheapest)
More on Shingle Creek: Homes For Sale | Data

The median income in Shingle Creek comes in at $62,896 and the median home value is $128,750 for 2020.

Overall SnackAbility

9.5
/10

Population: 6,003
Cost Of Living Index: 102 (36th cheapest)
Home Value To Income Ratio: 2.5 (11th cheapest)
Rent To Income Ratio: 0.01 (17th cheapest)
More on Audubon Park: Homes For Sale | Data

The median income in Audubon Park comes in at $77,013 and the median home value is $190,580 for 2020.

Overall SnackAbility

8.5
/10

Population: 6,194
Cost Of Living Index: 100 (26th cheapest)
Home Value To Income Ratio: 2.9 (29th cheapest)
Rent To Income Ratio: 0.007 (10th cheapest)
More on Howe: Homes For Sale | Data

The median income in Howe comes in at $68,547 and the median home value is $196,967 for 2020.

Overall SnackAbility

7
/10

Population: 3,682
Cost Of Living Index: 94 (12th cheapest)
Home Value To Income Ratio: 2.4 (6th cheapest)
Rent To Income Ratio: 0.018 (48th cheapest)
More on Mckinley: Homes For Sale | Data

The median income in Mckinley comes in at $46,118 and the median home value is $110,900 for 2020.

Overall SnackAbility

9
/10

Population: 2,457
Cost Of Living Index: 107 (58th cheapest)
Home Value To Income Ratio: 2.4 (4th cheapest)
Rent To Income Ratio: 0.007 (8th cheapest)
More on Field: Homes For Sale | Data

Field is a neighborhood in the Nokomis community in south Minneapolis. It is bordered by 46th Street East on the north, Chicago Avenue on the east, Minnehaha Parkway on the south, and Interstate 35W on the west. Field shares a neighborhood organization with the Regina and Northrop neighborhoods.

The median income in Field comes in at $98,968 and the median home value is $236,367 for 2020.

Summing Up The Cheapest Places In Minneapolis

If you’re measuring the neighborhoods in Minneapolis where prices are low and it’s cheap to live, this is an accurate list.

As we mentioned earlier, the neighborhoods in Minneapolis aren’t all cheap. Stevens Square takes the title of the most expensive neighborhood to live in Minneapolis.

We ranked the neighborhoods from cheapest to most expensive in the chart below.

For more Minnesota reading, check out:

Detailed List Of The Cheapest Neighborhoods To Live In Minneapolis For 2020

Rank Neighborhood Cost Of Living Index
1 Cleveland 93
2 Waite Park 98
3 Bryant 98
4 Windom 98
5 Columbia Park 97
6 Shingle Creek 98
7 Audubon Park 102
8 Howe 100
9 Mckinley 94
10 Field 107
11 Loring Park 91
12 Armatage 106
13 Victory 102
14 Kenny 108
15 East Phillips 92
16 Diamond Lake 104
17 Folwell 92
18 Hale 112
19 Lind-Bohanon 94
20 Corcoran 100
21 Page 119
22 Morris Park 104
23 Cedar-Riverside 86
24 Keewaydin 107
25 Regina 106
26 University District 91
27 Wenonah 102
28 Standish 105
29 Elliot Park 91
30 Fuller Tangletown 117
31 Southeast Como 97
32 Cooper 107
33 Hiawatha 106
34 Ericsson 109
35 Bancroft 105
36 Longfellow 103
37 Downtown West 104
38 Windom Park 103
39 Minnehaha 105
40 Bottineau 101
41 Willard Hay 101
42 Northeast Park 103
43 Powderhorn Park 101
44 Lynnhurst 135
45 Kingfield 112
46 Jordan 96
47 Fulton 132
48 Bryn Mawr 115
49 Northrup 111
50 Beltrami 100
51 Sheridan 104
52 Near North 94
53 Midtown Phillips 101
54 Linden Hills 128
55 North Loop 107
56 Webber-Camden 94
57 Seward 97
58 St Anthony West 111
59 Harrison 98
60 Lyndale 103
61 Cedar-Isles-Dean 123
62 Central 102
63 Hawthorne 93
64 Marshall Terrace 101
65 Holland 102
66 Sumner-Glenwood 100
67 Lowry Hill 136
68 East Harriet 124
69 Logan Park 104
70 Ventura Village 93
71 East Isles 130
72 Marcy Holmes 101
73 Calhoun 113
74 Downtown East 146
75 East Bank-Nicollet Island 133
76 Prospect Park 104
77 Kenwood 175
78 Phillips West 99
79 Whittier 103
80 Lowry Hill East 113
81 East Calhoun 140
82 St Anthony East 105
83 Stevens Square 108

About Chris Kolmar

Chris Kolmar has been in the real estate business for almost ten years now. He originally worked for Movoto Real Estate as the director of marketing before founding HomeSnacks.

He believes the key to finding the right place to live comes down to looking at the data, reading about things to do, and, most importantly, checking it out yourself before you move.

If you've been looking for a place to live in the past several years, you've probably stumbled upon his writing already.

You can find out more about him on LinkedIn or his website.

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