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3 Bedroom Apartments for Rent in Minneapolis, MN - 74 Rentals available

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Minneapolis’s average rent reached $1,552 in January

Minneapolis’s average rent reached $1,552 in January after a 2.8% decrease since last year. One of Minnesota’s largest job hubs, with a renter share of 50%, Minneapolis is a desirable place to live and work in, with apartment prices above the national average of $1,392. [View Full Report]

Minneapolis apartment rent report

Minneapolis’s average rent was $1,552 in January

Minneapolis’s average rent reached $1,552 in January after a 2.8% decrease since last year. One of Minnesota’s largest job hubs, with a renter share of 50%, Minneapolis is a desirable place to live and work in, with apartment prices above the national average of $1,392.

The average rent for an apartment in Minneapolis saw a larger decrease compared to St. Paul ($1,290), where prices went down by 1.4% since last year, and Bloomington ($1,348), where rent went down by 0.3%.

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 (64%), with an average rent of $1,263 after an annual decrease of 2%. Second is Minneapolis with 50%, followed by St. Paul with a 47% renter share. Anoka, with an average rent of $1,183, has the fourth largest share of renters (40%) and has experienced a rent increase of 5.9% since last year. In St. Louis Park, where 39% of the population are renters, the average rent is $1,492, going down by 0.6% 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 $1,737 per month. The average rent for apartments in Golden Valley is $1,659, the second most expensive, while Edina ($1,657) comes in third.

For renters in search of budget-friendly apartments, Richfield's $1,086 average rent is the cheapest in the Minneapolis area followed by West St. Paul's $1,092 rate. New Brighton rentals are the third least pricey on the list, with a $1,094 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 23 3 bedroom rentals available on RENTCafé. Prices and availability in Minneapolis, MN were last updated on 2 Mar 2021.

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

The average Minneapolis, MN 3 bedroom apartment size is 1,156 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 Population420,324
  • Female 212,823
    Male 207,501
  • Median Age32.3

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 Households176,974
    • Family 78,820
      Non-family 98,154
    • Children 40,265
      No Children 136,709
    • Average People Per Household2.28
    • Median Household Income$62,583
    • Median Housing Costs Per Month$1,194

    Minneapolis, MN Education Statistics

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