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3 Bedroom Apartments for Rent in Minneapolis, MN - 65 Rentals available

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Minneapolis’s average rent reached $1,540 in December

Minneapolis’s average rent reached $1,540 in December after a 3.5% decrease since last year. One of Minnesota’s largest job hubs and a renter household-majority city (53%), Minneapolis is a desirable place to live and work in, with apartment prices above the national average of $1,462. [View Full Report]

Minneapolis apartment rent report

Minneapolis’s average rent was $1,540 in December

Minneapolis’s average rent reached $1,540 in December after a 3.5% decrease since last year. One of Minnesota’s largest job hubs and a renter household-majority city (53%), Minneapolis is a desirable place to live and work in, with apartment prices above the national average of $1,462.

The average rent for an apartment in Minneapolis saw a larger decrease compared to St. Paul ($1,283), where prices went down by 1.7% since last year, and Bloomington ($1,346), where rent went down by 0.6%.

Minneapolis apartment rent report

What it costs to rent in the largest renter hubs in the Minneapolis area

The city with the largest renter share is Hopkins (66%), with an average rent of $1,270 after an annual decrease of 1.6%. Second is Minneapolis with 53%, followed by St. Paul with 50% renter households. Anoka, with an average rent of $1,182, has the fourth largest share of renters (49%) and has experienced a rent increase of 5.8% since last year. In St. Louis Park, where 45% of homes are renter households, the average rent is $1,491, going down by 1% in the past year.

The priciest and cheapest cities for renters in the Minneapolis area

Maple Grove is the priciest city for renters in the Minneapolis area, with apartments renting for $1,729 per month. The average rent for apartments in Golden Valley is $1,655, the second most expensive, while Edina ($1,643) comes in third.

For renters in search of budget-friendly apartments, Richfield's $1,083 average rent is the cheapest in the Minneapolis area followed by West St. Paul's $1,090 rate. New Brighton rentals are the third least pricey on the list, with a $1,093 average rent.

Minneapolis apartment rent report

Methodology

RENTCafe.com is a nationwide apartment search website that enables renters to easily find apartments and houses for rent throughout the United States. 

The data on average rents included in our reports comes directly from competitively-rented (market-rate) large-scale multifamily properties (50+ units in size), via telephone survey. The data is compiled and reported by our sister company Yardi Matrix, a business development and asset management tool for brokers, sponsors, banks and equity sources underwriting investments in the multifamily, office, industrial and self-storage sectors. Fully-affordable properties are not included in the survey and are not reported in rental rate averages. Local rent reports include only cities with a statistically-relevant stock of large-scale multifamily properties of 50+ units.

Look for 3 bedroom apartments near me

Are you looking to upgrade to a larger apartment? Are there certain requirements that you and your family need to be able to find the perfect apartment? Browse 3 bedroom apartments near you on RENTCafé to find the one that fits your family. Filter by size, price, and amenities both inside and outside the apartment, and check reviews by verified residents, to make sure you are choosing the apartment that is perfect for you and your family.

Browse for 3 bedroom apartments near you, whether you want to stay in the same neighborhood or ZIP code, or in any city in the U.S. that you plan on moving to. We can help you find the one that is near all the essential places, such as stores, parks, schools and even your job, at the price that suits your budget. Your next home is waiting, let's find it!

Frequently Asked Questions

What is the price of a 3 bedroom apartment in Minneapolis, MN?

The price range of a 3 bedroom apartment is between $715 and $10,969. Search 3 bedroom apartments in Minneapolis, MN.

How many 3 bedroom apartments for rent are available in Minneapolis, MN on RENTCafé?

There are 20 3 bedroom rentals available on RENTCafé. Prices and availability in Minneapolis, MN were last updated on 21 Jan 2021.

What is the average size of a 3 bedroom apartment in Minneapolis, MN?

The average Minneapolis, MN 3 bedroom apartment size is 1,231 sq. ft.

What are the advantages of renting a 3 bedroom apartment in Minneapolis, MN?

Renting a 3 bedroom apartment offers extra space compared to a 2 bedroom apartment, suited for a family or for sharing it with someone else.

What are the downsides of renting a 3 bedroom apartment in Minneapolis, MN?

A 3 bedroom apartment is more expensive than smaller units and it usually comes with higher utility costs. You might be interested in studio apartments, 1 bedroom apartments or 2 bedroom apartments, or browse all RENTCafé apartments for rent in Minneapolis, MN.

Minneapolis, MN Demographics

  • Total Population416,021
  • Female 211,095
    Male 204,926
  • Median Age32.1

Average Rent in Minneapolis, MN

  • Minneapolis, MN Average Rental Price, December 2020 $1,540 /mo

    Minneapolis, MN Apartment Rent Ranges

    • $701-$1,00015%
    • $1,001-$1,50043%
    • $1,501-$2,00025%
    • > $2,00016%

    Minneapolis, MN Rent Trends

    Average Rent Jul / 2017 Nov / 2017 Mar / 2018 Jul / 2018 Nov / 2018 Mar / 2019 Jul / 2019 Nov / 2019 Mar / 2020 Jul / 2020 Dec / 2020
    Minneapolis, MN $1,478 $1,487 $1,512 $1,557 $1,544 $1,554 $1,591 $1,590 $1,596 $1,602 $1,540
    National $1,373 $1,378 $1,381 $1,418 $1,428 $1,432 $1,468 $1,475 $1,477 $1,464 $1,462
    /

    Check out the average rent prices in Minneapolis by neighborhood.

    Minneapolis, MN Households

    • Total Number of Households173,916
    • Family 77,829
      Non-family 96,087
    • Children 40,541
      No Children 133,375
    • Average People Per Household2.29
    • Median Household Income$58,993
    • Median Housing Costs Per Month$1,155

    Minneapolis, MN Education Statistics

    • No High School5%
    • Some High School22%
    • Some College21%
    • Associate Degree7%
    • Bachelor Degree29%
    • Graduate Degree17%

    Renting a 3 bedroom in Minneapolis, MN

    In Minneapolis, MN 3 bedroom rental apartments are typically a top choice for families with children or roommates sharing living space. The former choose them for the need of extra space. The latter choose them for the need to save money. The conclusion? 3 bedroom apartments offer more space (1,086 Sq.Ft. on average) at a good price (usually, around $3,241 per month). Whether you’re Jess from New Girl or a cool couple with 2 kids who want to live downtown, a 3 bedroom apartment for rent in the heart of Minneapolis, MN is the answer to your questions. Typically, only about 10 to 20% of apartments are three bedroom rentals, so they may be a little harder to find than smaller apartments. However, Minneapolis, MN has 58 apartment buildings that have 3 bedroom floor plans available to rent, totaling about 65 units.

    How to find a cheap 3 bedroom apartment in Minneapolis, MN for you and your family

    Are the two of you about to become three and need to find a rental apartment a.s.a.p.? Need to have one master bedroom, one bedroom for the nursery and one bedroom for an office that on occasion serves as a guest bedroom? And last, but not least, you need a rent payment that won’t entirely swallow both your paychecks? You should take a look at listings of cheap 3 bedroom apartments. Sort your results by “Rent” ascending to display the lowest-priced listings first. Browse photos, take a look at the list of amenities and read the listing descriptions to see which one appeals to you the most. Some rentals go for as little as $715 per month. You can further filter your results by number of baths or check the amenities that are important to you by opening up the “More” menu. Child care, playground and controlled access/gated are the most popular features for families. Save your search and get notified by email when new units the meet your criteria become available.

    Finding a home nearby is easier than you think. Check out our Apartments Near Me page and take your pick!