The 10 Cheapest Minneapolis, MN Neighborhoods To Live In For 2022


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

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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.

What's the cheapest neighborhood to live in Minneapolis for 2022? 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:

The 10 Cheapest Neighborhoods To Live In Minneapolis For 2022

Overall SnackAbility

8
/10

Population: 2,963
Cost Of Living Index: 95 (12th 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

Overall SnackAbility

8
/10

Population: 3,032
Cost Of Living Index: 97 (16th 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

Overall SnackAbility

9
/10

Population: 5,394
Cost Of Living Index: 100 (22nd 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

Overall SnackAbility

8.5
/10

Population: 4,028
Cost Of Living Index: 100 (22nd 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

Overall SnackAbility

8
/10

Population: 3,210
Cost Of Living Index: 97 (16th cheapest)
Home Value To Income Ratio: 2.0 (cheapest)
Rent To Income Ratio: 0.016 (4cheapest)
More on Shingle Creek: Homes For Sale | Data

Overall SnackAbility

8
/10

Population: 3,682
Cost Of Living Index: 95 (12th cheapest)
Home Value To Income Ratio: 2.4 (6th cheapest)
Rent To Income Ratio: 0.018 (47th cheapest)
More on Mckinley: Homes For Sale | Data

Overall SnackAbility

8
/10

Population: 1,303
Cost Of Living Index: 98 (18th 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

Overall SnackAbility

9.5
/10

Population: 6,003
Cost Of Living Index: 104 (40th 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

Overall SnackAbility

9.5
/10

Population: 2,457
Cost Of Living Index: 109 (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

Overall SnackAbility

8.5
/10

Population: 4,504
Cost Of Living Index: 102 (32nd cheapest)
Home Value To Income Ratio: 2.4 (5th cheapest)
Rent To Income Ratio: 0.016 (36th cheapest)
More on Victory: Homes For Sale | Data

Methodology: How We Determined The Cheapest Minneapolis Hoods In 2022

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 82 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.

Summary: Lowest Cost Places To Live 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 2022

Rank Neighborhood Cost Of Living Index
1 Cleveland 95
2 Bryant 97
3 Waite Park 100
4 Windom 100
5 Shingle Creek 97
6 Mckinley 95
7 Columbia Park 98
8 Audubon Park 104
9 Field 109
10 Victory 102
11 Loring Park 93
12 Howe 103
13 Armatage 108
14 Kenny 110
15 Lind-Bohanon 93
16 Folwell 91
17 East Phillips 93
18 Diamond Lake 106
19 Hale 114
20 Page 121
21 Corcoran 101
22 Keewaydin 107
23 Cedar-Riverside 88
24 Morris Park 106
25 Regina 107
26 Wenonah 102
27 University District 93
28 Standish 107
29 Hiawatha 106
30 Elliot Park 92
31 Southeast Como 97
32 Fuller Tangletown 118
33 Ericsson 109
34 Minnehaha 104
35 Cooper 110
36 Windom Park 102
37 Willard Hay 100
38 Northeast Park 102
39 Powderhorn Park 100
40 Bancroft 107
41 Downtown West 106
42 Bottineau 102
43 Lynnhurst 135
44 Longfellow 106
45 Fulton 132
46 Jordan 97
47 Kingfield 114
48 Bryn Mawr 116
49 Midtown Phillips 101
50 Sheridan 105
51 Northrup 113
52 Webber-Camden 93
53 Linden Hills 127
54 Near North 96
55 North Loop 110
56 Beltrami 102
57 Harrison 99
58 Central 102
59 Seward 98
60 St Anthony West 113
61 Lyndale 105
62 Holland 102
63 Cedar-Isles-Dean 125
64 Hawthorne 94
65 Ventura Village 92
66 Sumner-Glenwood 101
67 Lowry Hill 134
68 East Harriet 127
69 Logan Park 106
70 East Isles 133
71 Marshall Terrace 104
72 Marcy Holmes 102
73 Calhoun 112
74 Prospect Park 104
75 Downtown East 146
76 East Bank-Nicollet Island 135
77 Kenwood 177
78 Whittier 106
79 Phillips West 102
80 Lowry Hill East 113
81 St Anthony East 107
82 Stevens Square 110

Editor's Note: We updated this article for 2022. This is our third time ranking the cheapest neighborhoods to live in Minneapolis.

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.