Zumper
modified
Updated 3 Hours Ago

Highlights

  • Pet Friendly
  • Brand-new
  • Spacious apartments
  • Community room
  • Fitness center
  • Laundry facilities
  • Rooftop deck

Location

550 W Lake St, Minneapolis, MN 55408, USA|Lyn Lake
Hi! Let’s figure out if this property is right for you.

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Tour Lakefield Apartments

Contact

Management

Halverson and Blaiser Group, LTD

Leasing office

(651) 403-6293

Open 

9:00 am–5:00 pm CT

Property Overview

Lakefield Apartments offers brand-new, spacious apartments with strong overall value, standout amenities, and a highly convenient location. Residents can enjoy a community room, fitness center, laundry facilities, and a rooftop deck, while nearby dining, mixed-use spaces, pet services, and wellness options add to the appeal.

This summary uses Zumper’s proprietary data. “Zumper Expert Ratings,” “Things you’ll love,” and “Great for” are based on our internal analyses of market trends and renter insights.

Zumper Expert Rating

8.4
Very Good
With a solid 8.4 out of 10 overall, Lakefield Apartments is a great option for renters. While some aspects, like Quality, might not be as distinguished as other properties nearby, Lakefield Apartments has a number of attractive features—namely its Amenities— so you can be assured your rent will come with a high standard of living.

Things you’ll love

  • High school nearby
  • Balcony
  • Central heat

Great for

  • Social life
  • Wellness
  • Pet owners

Floor plans

Studio (Tier 2)Studio1 bath419 sqft$1,116 /mo1 unit availableLakefield Apartments, Studio Apartment, Lyn-Lake Uptown, Minneapolis, MN
2 Bedroom (Tier 2)2 bed1 bath733+ sqft$1,430–$1,442 /mo4 units availableLakefield Apartments, 2 Bedroom Apartment, Lyn-Lake Uptown, Minneapolis, MN
2 Bedroom (Tier 3)2 bed1 bath733+ sqft$1,655–$1,740 /mo3 units availableLakefield Apartments, 2 Bedroom Apartment, Lyn-Lake Uptown, Minneapolis, MN
3 Bedroom (Tier 3)3 bed2 bath1,067+ sqft$2,299–$2,342 /mo4 units availableLakefield Apartments, 3 Bedroom Apartment, Lyn-Lake Uptown, Minneapolis, MN

Let's explore this property.

Amenities for Lakefield Apartments

Apartment Amenities

Air ConditioningBalcony
Central HeatCeramic Tiled Bathrooms
FreezerLED lighting
LVP FlooringMaple Cabinets
PatioView
Walk-in ClosetWindow Coverings

Appliances

Black Whirlpool ApplianceDishwasher
OvenRange
Refrigerator

Tech

Cable ReadyFree Common Area WiFi

Building

Business CenterCats OK
Central Heating & Air ConditioningCommunity Room
Controlled AccessDogs OK
ElevatorFitness Center
Onsite LaundryRecreation Room
Residents LoungeVending Machines

Grounds

Garage ParkingOutdoor Space
PlaygroundStorage
Swimming Pool

Services

On-Site ManagementPackage Service

Neighborhood

Transportation

Other

Online Maintenance PortalOnline Rent Payment
Units, floor plans, amenities, dimensions, details, availability, and prices may be approximate and subject to change. Please contact a community representative for more information.

Policies and fees

Applicants

Applicants

One-time.

Contact Property

REQUIRED FEES

Security Deposit

One-time. Refundable.

Contact Property

OPTIONAL FEES

Parking Policy

Garage Parking

Dog Policy

Allowed
Limit2

Cat Policy

Allowed
Limit2

Cat

Cat Deposit

One-time. 2 cats max. Refund Policy: $500.00.

$500

Dog

Dog Deposit

One-time. 2 dogs max. Refund Policy: $500.00.

$500

Questions about this property’s policies and fees?

Building details

Property details

Units110
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About Lakefield Apartments

HomeApartments in MinneapolisLyn Lake Lakefield Apartments

Lakefield Apartments is a brand-new affordable living community in the heart of Lyn-Lake/Uptown, thoughtfully designed for households of all sizes. With spacious apartments and amenities that emphasize comfort and convenience, Lakefield offers an ideal home for larger households. At Lakefield, there is room to grow and enjoy a vibrant community atmosphere, making it the perfect place to thrive.


Zumper Expert Rating

Our expert rating is based on a weighted average score of property attributes that renters care about most: price, amenities, location, quality, and trust.
8.4
/10
Very Good
With a solid 8.4 out of 10 overall, Lakefield Apartments is a great option for renters. While some aspects, like Quality, might not be as distinguished as other properties nearby, Lakefield Apartments has a number of attractive features—namely its Amenities— so you can be assured your rent will come with a high standard of living.
How we rated Lakefield Apartments
Price·9A score that weighs the cost and location of the property, which we calculate by comparing rent prices of recent units to the median price of nearby rentals, adjusting for overall quality and features.
Lakefield Apartments stands out with a remarkable rating of 9/10 for its cost per bedroom compared to other rentals in the area. Considering the excellent balance between price, convenience, and comfort that it provides, residents enjoy a high-quality living experience.
Amenities·10A score based on the amenities offered at this property compared to other rentals in the area. We consider the quantity, quality, and popularity of features both on site and within the units.
Lakefield Apartments stands out as a premier property with an impressive array of amenities and an excellent standard of living. Residents here have access to many of the most popular and desired perks—pets allowed—making this one of the top choices for renters seeking unparalleled comfort and convenience.
Location·9A score based on proximity and ease of access to shops, restaurants, schools, and public transportation while considering the desirability of the area.
Lakefield Apartments is exceptional when it comes to location and conveniences. Communication with management or leasing staff is usually quick and easy and they often use advanced scheduling and communication tools to streamline the process. The location of this property offers easy access to popular points of interest in the area and options for getting around.
Quality·6A score based on what makes the property stand out, such as luxury features, unique offerings, age of the building, and our ability to verify the accuracy of these details.
While Lakefield Apartments does not have many hallmark characteristics to highlight, it has some qualities and features that will resonate with a broad range of renters.
Trustworthiness·7A score based on the accuracy, completeness, recency, and usefulness of the information provided by this property, so you can trust that what you see is what you get.
Lakefield Apartments provides some information about the features available in the community and its apartments, making it a reliable option for prospective renters. Renters should ask additional questions about amenities and non-negotiable items they are looking for.

Lakefield Apartments is great for:

Social life

  • 269 restaurants within 1 mile of this property
  • This community has public spaces on site, like fitness centers or pools
  • Community gathering spaces on-site (lounges, rooftops, etc.)
  • 428 mixed-use spaces nearby

Wellness

  • On-site fitness center or gym
  • HVAC systems available onsite
  • 45 gyms or yoga centers nearby
  • On-site pool or spa

Pet owners

  • Outdoor spaces are available at this property
  • 8 pet supply stores near the property
  • 5 pet hospitals in the area
  • 1 pet grooming service nearby

Property highlights

We compared every listing in the surrounding area to determine which amenities are most common. If a building lacks an amenity that most others in the area have, it is a con. If a building has an amenity most others in the area do not, it is a pro. Similarly, price, schools, and size are calculated relative to the size, price, and distance to schools of the other properties nearby.

How Lakefield Apartments compares to other nearby properties.

Positives

High school nearby
There is a high school 0.6 miles away
Balcony
Easy access to the outdoors
Central heat
Climate controlled environment
Dishwasher
Dishwasher available in kitchen
Elevator
Improved accessibility features
Extra storage
In-unit features
Fitness center
The gym is just a few steps away
Images Available
There are at least 10 photos of this property
Package service
More secure storage for delivery
Pool
Enhanced community features
Walk-in closet
More closet space on average

Considerations

Greater distance from grade schools
The nearest elementary school is farther than 0.5 miles away

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Rent trends in Lyn Lake

Studio apartments at Lakefield Apartments cost about 8% less than the average rent price for studios in Lyn Lake.

If you decide to upgrade your space, you can expect 2-bedrooms at Lakefield Apartments to be 28% less than the average for similarly sized apartments in Lyn Lake.

3-bedroom apartments at Lakefield Apartments cost about 7% more than the average rent price for 3-bedroom apartments in Lyn Lake.

Median rents as of Oct 3 2026.
Lyn Lake
Minneapolis
A table of studio rental data trends in Minneapolis
MonthMedian Rent
October 2024$1,040
November 2024$1,025
December 2024$1,015
January 2025$993
February 2025$1,001
March 2025$1,006
April 2025$978
May 2025$967
June 2025$1,014
July 2025$982
August 2025$1,033
September 2025$1,019
October 2025$993
November 2025$988
December 2025$1,098
January 2026$1,079
February 2026$1,088
March 2026$1,077
April 2026$1,032
May 2026$1,024
June 2026$1,051
July 2026$1,046
August 2026$1,050
September 2026$1,093
October 2026$1,107
A table of studio rental data trends in Lyn Lake
MonthMedian Rent
October 2024$966
November 2024$925
December 2024$905
January 2025$1,002
February 2025$1,023
March 2025$997
April 2025$1,036
May 2025$1,063
June 2025$1,109
July 2025$1,106
August 2025$1,119
September 2025$1,122
October 2025$1,122
November 2025$1,122
December 2025$1,275
January 2026$1,249
February 2026$1,275
March 2026$1,275
April 2026$1,223
May 2026$1,145
June 2026$1,135
July 2026$1,118
August 2026$1,109
September 2026$1,199
October 2026$1,218

Affordability calculator

Can I afford to live at 550 W Lake St?

Bedrooms

Rent-to-income ratio

30%

Slide to adjust the percentage of your monthly income you are willing to spend on rent.
The general rule of thumb is to spend around 30% or less of your income on rent.
Recommended income

$44,640/yr

With your selected rent-to-income ratio, you'd ideally want to make $44,640 annually to afford this studio monthly rent price of $1,116.
For more information on rent affordability, visit our rent calculator.

Schools near Lakefield Apartments

Ella Baker Global Studies and Humanities School

1200 w 26th st

minneapolis, MN, 55405

PK, K-8Public
C

Early Childhood Special Education

3320 elliot ave s

minneapolis, MN, 55407

PK, KPublic
B+

MPS Metro SJ

932 east 34th st

minneapolis, MN, 55407

K-12Public

Justice Alan Page Elementary School

999 nofound st

nofoundcity, MN, 88888

PK, K-5Public

Folwell Elementary

3611 20th ave s

minneapolis, MN, 55407

PK, K-5Public
C
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Internet available near Lakefield Apartments

Getting around Minneapolis near 550 W Lake St

Walking

9/10
No car? No problem. Everything you need is within a few blocks.

Driving

8/10
Commuting is easy with multiple accessible routes and plenty of parking.

Cycling

9/10
Helmets on–you can get anywhere in this cyclist-friendly, well-connected area.

Transit

9/10
Getting around is a breeze; rapid transit and bus lines are a few blocks away.

Points of interest for 550 W Lake St, Minneapolis

Groceries

9/10
At least one grocery store within a few minutes' walk

Shopping

8/10
Variety of shops within a few minutes' walk

Cafes

7/10
Variety of cafés within walking distance

Restaurants

8/10
Variety of restaurants within a few minutes' walk

Primary schools

8/10
At least one elementary school within a 10-minute walk

High schools

7/10
At least one high school within a 20-minute walk

Parks

8/10
Large amount of park space nearby

Nightlife

6/10
Variety of bars within walking distance

Explore the area around 550 W Lake St

Ainu Shams Halal Foods LLC
123 W Lake St
Cub
1104 Lagoon Ave
Marissa's Inc
2750 Nicollet Ave
ALDI
2601 Lyndale Ave S
Shuang Hur Supermarket
2712 Nicollet Ave

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