Minneapolis, MN Rental Market Trends
What is the average rent in Minneapolis?
The average rent for an apartment in Minneapolis is $1,680. The cost of rent varies depending on several factors, including location, size, and quality.
Average rent in Minneapolis, MN
|Average Rent||Average Apartment Size|
|$1,680||775 sq. ft.|
What is the average apartment size in Minneapolis?
The average size for a Minneapolis, MN apartment is 775 square feet, but this number varies greatly depending on unit type, with cheap and luxury alternatives for houses and apartments alike. Studio apartments are the smallest and most affordable, 1-bedroom apartments are closer to the average, while 2-bedroom apartments and 3-bedroom apartments offer a more generous square footage.
Minneapolis, MN apartment rent ranges
Minneapolis, MN Occupied Housing Units
94,741 or 52% of the households in Minneapolis, MN are renter-occupied while 87,678 or 48% are owner-occupied.
Minneapolis, MN rent trends
Average Rent in Minneapolis, MN By Neighborhood
|Prospect Park East River Road||$2,075|
|Nicollet Island - East Bank||$2,033|
|Mid - City Industrial||$1,903|
|St. Anthony East||$1,903|
|St. Anthony West||$1,903|
|Cedar - Isles - Dean||$1,897|
|Bryn - Mawr||$1,871|
|University of Minnesota||$1,862|
|Stevens Square - Loring Heights||$1,320|
|Sumner - Glenwood||$1,302|
|Near North Minneapolis||$1,272|
|Willard - Hay||$1,272|
|Lind - Bohanon||$1,192|
|Webber - Camden||$941|
What are the most affordable neighborhoods in Minneapolis?
The most affordable neighborhoods in Minneapolis are Cleveland, where the average rent goes for $941/month, Folwell, where renters pay $941/mo on average, and McKinley, where the average rent goes for $941/mo. If you’re looking for other great deals, check out the listings from Victory ($941), Webber - Camden ($941), and Hale ($975), where the asking prices are below the average Minneapolis rent of $1,680/mo.
What are the most expensive neighborhoods in Minneapolis?
What are the most popular neighborhoods in Minneapolis?
The most popular neighborhood in Minneapolis is North Loop, where there are 18 listings with an average rent of $1,913. Next up is Uptown Minneapolis, where apartments go for $1,584/month, followed by Downtown Minneapolis with $1,645 If you’re looking to rent in Minneapolis’s most popular neighborhoods, make sure to also check out Whittier, where renters pay $1,463 on average, and Brooklyn Center, where the average monthly rent is $1,183.
Minneapolis | Rent Comparison by Neighborhood
Rent in Armatage is 6% lower than in Audubon Park
Armatage rent is 27% lower than Minneapolis average
Audubon Park rent is 22% lower than Minneapolis average
How Minneapolis Compares to Other Cities
|St. Louis Park||$1,802|
|West St. Paul||$1,305|
What is the average price for a storage unit in Minneapolis?
The average rent for a non-climate-controlled 10'x10' storage unit in Minneapolis is $101.2. Rental costs vary depending on several factors, including unit size and the storage facility's location and amenities.