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Apartments for Rent in Minneapolis, MN under $900 – 216 Rentals available


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.

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
    /

    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%

    Search for apartments in Minneapolis, MN under $900

    There’s more than one way to spend $900 on rent in Minneapolis, MN, so the first step is to start thinking about what you really want from your new home. Be mindful of what makes you tick. Look for 2 bedroom apartments for rent for less than $900 if you want to share your living space and don’t mind being further away from the city center. Search for 3 bedroom apartments if you’re moving in with family or planning to share part of your life and living expenses with more friends. If city bustle is what you live for, you might want to search for a studio or 1 bedroom apartment closer to the city center.

    The perfect $900 rental near you

    Don’t dismiss the idea of a studio just because it sounds small and featureless: studios come in many shapes and sizes, and it only takes a few strikes of creativity to go from drab to lively. If an all-in-one-room apartment spells total lack of privacy for you, have a look at the 1 bedroom apartments for rent in Minneapolis, MN. Customize your search by using more RENTCafé filters. Decide what amenities you can’t live without and focus your search on the apartments that offer them. Are you bringing in a pet? Narrow your options to pet-friendly apartments for rent. Want more windows so that natural light floods your home? Hardwood floors or plush carpet in the living area? There are 100 apartments for rent below $900 in Minneapolis, MN for every taste. Decide what you need, stay focused, and you’re bound to find your perfect apartment in no time.

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