The Station at Malcolm Yards
485 Malcolm Ave SE,
Minneapolis, MN 55414
$1,321 - $2,276 Total Monthly Price
Studio - 2 Beds
Prospect Park
Minneapolis, MN
Prospect Park - Minneapolis, MN
Area Guide
An ideal location on the Mississippi River
Parks
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Outdoors
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Walkable
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University
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Affordable
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Community
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Riverfront
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Bordering the University of Minnesota and the Mississippi River, Prospect Park is a historic neighborhood featuring a dynamic blend of modern amenities and lush natural beauty in a 1.25-square-mile package. Prospect Park residents enjoy a true community atmosphere fostered by an array of frequent festivals, events, block parties, and a community garden. Locals delight in sweeping views of the Minneapolis skyline at Tower Hill Park, which also boasts the iconic Witch’s Hat water tower. Within its borders, Prospect Park contains TCF Bank Stadium, home of the Minnesota Golden Gophers. The sprawling Surly Brewing Company is located in Prospect Park as well, offering residents access to a beer hall, beer garden, tours, event space, and an upstairs eatery.
University Avenue serves as the neighborhood’s main thoroughfare, touting an array of diverse eateries and shops. In addition to being remarkably walkable, Prospect Park is known for its great access to transportation, including I-94 and the Prospect Park Light Rail Station.
Explore the Neighborhood
Rent Trends
As of December 2025, the average apartment rent in Prospect Park is $1,204 for a studio, $1,504 for one bedroom, $2,017 for two bedrooms, and $3,418 for three bedrooms. Apartment rent in Prospect Park has increased by 0.8% in the past year.
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Studio
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453 sq ft
Average Sq Ft
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$1,204/month
Average Rent
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1 BR
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635 sq ft
Average Sq Ft
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$1,504/month
Average Rent
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2 BR
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1,027 sq ft
Average Sq Ft
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$2,017/month
Average Rent
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3 BR
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410 sq ft
Average Sq Ft
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$3,418/month
Average Rent
Transportation
76
Very Walkable
out of 100 WalkScore® Rating
If you enjoy walking, you’ll enjoy renting in this area! It’s a very walkable neighborhood.
61
Good Transit
out of 100 TransitScore® Rating
The area around this property has good transit with many nearby transportation options.
92
Biker's Paradise
out of 100 BikeScore® Rating
Do you prefer to get around on two wheels? You’ll love living in this neighborhood, which is considered a biker’s paradise.
Points of Interest
Shopping Centers
Parks and Recreation
- Luxton Park
- Tower Hill Park
- East River Flats Park
- Matthews Park
- Riverside Park
Military Bases
Airports
- Minneapolis-St Paul International/Wold-Chamberlain
Top Apartments in Prospect Park
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Methodology
† Our analysis of utilities, groceries, transportation, healthcare, home prices, and other goods and services is sourced from the Cost of Living Index, a respected benchmark published by the Council for Community and Economic Research (C2ER) that provides a thorough overview of living expenses across different regions.
Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
Consumer goods, services, and home prices are sourced from the Cost of Living Index published by the Council for Community and Economic Research (C2ER). The data on this page is updated quarterly. It was last published in November 2025.