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Disclaimer: Covid-19 may have impacted rent prices in a way that is not yet reflected in our reports. When referencing the data published on this page, please keep in mind that the data provided here may not accurately depict the current reality of the market.

Minneapolis, MN Rental Market Trends

Highlights

The average rent for an apartment in Minneapolis is $1,588, a 3% increase compared to the previous year.

Average Rent in Minneapolis, MN

Last updated February 2020
Average Rent Y-o-Y Change Average Apartment Size
$1,588 3% 786 sq. ft.

The average size for a Minneapolis, MN apartment is 786 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

  • $701-$1,00016%
  • $1,001-$1,50038%
  • $1,501-$2,00026%
  • > $2,00019%

Minneapolis, MN Occupied Housing Units

  • Renter-occupied Households55%
  • Owner-occupied Households44%

96,087 or 55% of the households in Minneapolis, MN are renter-occupied while 77,829 or 44% are owner-occupied.

Minneapolis, MN Rent Trends

Average Rent Nov / 2016 Mar / 2017 Jul / 2017 Nov / 2017 Mar / 2018 Jul / 2018 Nov / 2018 Mar / 2019 Jul / 2019 Nov / 2019 Feb / 2020
Minneapolis, MN $1,424 $1,449 $1,478 $1,487 $1,512 $1,557 $1,544 $1,554 $1,591 $1,590 $1,588
National $1,340 $1,337 $1,368 $1,371 $1,374 $1,408 $1,417 $1,422 $1,458 $1,466 $1,468
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Average Rent in Minneapolis, MN By Neighborhood

Neighborhood Average Rent
Webber - Camden $840
Victory $840
McKinley $840
Folwell $840
Cleveland $840
Brooklyn Center $1,053
Lind - Bohanon $1,058
Shingle Creek $1,070
Windom $1,071
Tangletown $1,071
King Field $1,071
Kenny $1,071
Armatage $1,077
Harrison $1,100
Fulton $1,102
Page $1,109
Diamond Lake $1,109
Regina $1,134
Richfield $1,143
Field $1,153
Sumner - Glenwood $1,159
Windom Park $1,163
Waite Park $1,163
Marshall Terrace $1,163
Columbia Park $1,163
Bottineau $1,163
Audubon Park $1,163
Willard - Hay $1,184
Near North Minneapolis $1,184
Jordan $1,184
Hawthorne $1,184
St. Anthony $1,203
Ventura Village $1,219
Midtown Phillips $1,228
East Phillips $1,228
Robbinsdale $1,239
Wenoah $1,245
Morris Park $1,245
Minnehaha $1,245
Keewaydin $1,245
Hale $1,245
Seward $1,269
Northrop $1,276
Cedar Riverside $1,289
Powderhorn Park $1,298
Bryant $1,298
Bancroft $1,298
Stevens Square - Loring Heights $1,339
Hiawatha $1,358
Standish $1,362
Ericsson $1,362
Corcoran $1,362
Longfellow $1,380
Howe $1,380
Cooper $1,380
Lowry Hill $1,382
Loring Park $1,394
Whittier $1,432
Phillips West $1,438
Lynnhurst $1,506
Northeast Park $1,568
Logan Park $1,568
Holland $1,568
Uptown Minneapolis $1,572
Central Minneapolis $1,577
Downtown Minneapolis $1,593
Lyndale $1,601
East Harriet $1,601
CARAG $1,601
ECCO $1,673
University of Minnesota $1,681
Kenwood $1,690
Bryn - Mawr $1,690
Linden Hills $1,692
West Calhoun $1,709
Cedar - Isles - Dean $1,709
North Loop $1,816
St. Anthony West $1,819
St. Anthony East $1,819
Sheridan $1,819
Mid - City Industrial $1,819
Beltrami $1,819
Prospect Park East River Road $1,839
Marcy Holmes $1,839
Dinkytown $1,839
Como $1,839
Nicollet Island - East Bank $1,873
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The most affordable neighborhoods in Minneapolis are Cleveland, where the average rent goes for $840/month, Folwell, where renters pay $840/mo on average, and McKinley, where the average rent goes for $840/mo. If you’re looking for other great deals, check out the listings from Victory ($840), Webber - Camden ($840), and Brooklyn Center ($1,053), where the asking prices are below the average Minneapolis rent of $1,588/mo.

The most expensive neighborhoods in Minneapolis are Marcy Holmes ($1,839), Prospect Park East River Road ($1,839) and Nicollet Island - East Bank ($1,873).

The most popular neighborhood in Minneapolis is Uptown Minneapolis, where there are 38 verified RENTCafé listings with an average rent of $1,572. Next up is Whittier, where apartments go for $1,432/month, followed by North Loop with $1,816 If you’re looking to rent in Minneapolis’s most popular neighborhoods, make sure to also check out Loring Park, where renters pay $1,394 on average, and Brooklyn Center, where the average monthly rent is $1,053.

Minneapolis | Rent Comparison by Neighborhood

Neighborhood
vs.
Neighborhood

Rent in Armatage is 7% lower than in Audubon Park

$1,077

Armatage rent is 32% lower than Minneapolis average

Average Rent $1,077
$1,163

Audubon Park rent is 27% lower than Minneapolis average

Average Rent $1,163

How Minneapolis Compares to Other Cities

Average Rent Y-o-Y Change
Minneapolis $1,588 3%
St. Paul $1,303 3%
Bloomington $1,451 5%
St. Louis Park $1,609 2%
Plymouth $1,399 3%
Edina $1,502 3%
Minnetonka $1,456 4%
Maplewood $1,101 4%
Brooklyn Center $1,053 2%
Eden Prairie $1,521 7%
Hopkins $1,470 4%

For more information about the Minneapolis rental trends, check out our monthly rent report

Check out Minnesota Cities, Minnesota Neighborhoods and Minnesota Zip Codes for more details on verified listings, including the Minnesota Average Rent.

Curious about listings in your area? Check out our apartments near you for more details!

Cheapest Listings on RENTCafé

Mid-priced Listings on RENTCafé

Most Expensive Listings on RENTCafé

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The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Minneapolis apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.