Minneapolis, MN Rental Market Trends
What is the average rent in Minneapolis?
The average rent for an apartment in Minneapolis is $1,621. The cost of rent varies depending on several factors, including location, size, and quality.
Average Rent in Minneapolis, MN
| Average Rent | Average Apartment Size |
|---|---|
| $1,621 | 778 sq. ft. |
What is the average apartment size in Minneapolis?
The average size for a Minneapolis, MN apartment is 778 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
100,346 or 56% of the households in Minneapolis, MN are renter-occupied while 78,540 or 43% are owner-occupied.
Minneapolis, MN Rent Trends
| Average Rent | Nov / 2018 | Mar / 2019 | Jul / 2019 | Nov / 2019 | Mar / 2020 | Jul / 2020 | Nov / 2020 | Mar / 2021 | Jul / 2021 | Nov / 2021 | Feb / 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Minneapolis, MN | $1,544 | $1,554 | $1,591 | $1,590 | $1,596 | $1,602 | $1,553 | $1,559 | $1,581 | $1,635 | $1,621 |
| National | $1,362 | $1,367 | $1,399 | $1,407 | $1,409 | $1,399 | $1,403 | $1,412 | $1,495 | $1,591 | $1,628 |
Average Rent in Minneapolis, MN By Neighborhood
| Neighborhood | Average Rent |
|---|---|
| Como | $1,969 |
| Dinkytown | $1,969 |
| Marcy Holmes | $1,969 |
| Prospect Park East River Road | $1,969 |
| Nicollet Island - East Bank | $1,931 |
| North Loop | $1,806 |
| University of Minnesota | $1,797 |
| Cedar - Isles - Dean | $1,784 |
| West Calhoun | $1,784 |
| Beltrami | $1,781 |
| Mid - City Industrial | $1,781 |
| Sheridan | $1,781 |
| St. Anthony East | $1,781 |
| St. Anthony West | $1,781 |
| Linden Hills | $1,767 |
| Bryn - Mawr | $1,762 |
| Kenwood | $1,762 |
| ECCO | $1,714 |
| CARAG | $1,586 |
| East Harriet | $1,586 |
| Lyndale | $1,586 |
| Holland | $1,577 |
| Logan Park | $1,577 |
| Northeast Park | $1,577 |
| Central Minneapolis | $1,570 |
| Uptown Minneapolis | $1,562 |
| Downtown Minneapolis | $1,561 |
| Lynnhurst | $1,508 |
| Phillips West | $1,436 |
| Whittier | $1,432 |
| Cooper | $1,405 |
| Howe | $1,405 |
| Longfellow | $1,405 |
| Corcoran | $1,394 |
| Ericsson | $1,394 |
| Standish | $1,394 |
| Hiawatha | $1,380 |
| Bancroft | $1,356 |
| Bryant | $1,356 |
| Powderhorn Park | $1,356 |
| Cedar Riverside | $1,351 |
| Northrop | $1,314 |
| Loring Park | $1,302 |
| Lowry Hill | $1,301 |
| Robbinsdale | $1,295 |
| Harrison | $1,279 |
| Stevens Square - Loring Heights | $1,272 |
| Seward | $1,265 |
| Audubon Park | $1,257 |
| Bottineau | $1,257 |
| Columbia Park | $1,257 |
| Marshall Terrace | $1,257 |
| Waite Park | $1,257 |
| Windom Park | $1,257 |
| Hale | $1,256 |
| Keewaydin | $1,256 |
| Minnehaha | $1,256 |
| Morris Park | $1,256 |
| Wenoah | $1,256 |
| St. Anthony | $1,245 |
| East Phillips | $1,220 |
| Midtown Phillips | $1,220 |
| Ventura Village | $1,203 |
| Sumner - Glenwood | $1,198 |
| Field | $1,191 |
| Regina | $1,178 |
| Richfield | $1,171 |
| Fulton | $1,163 |
| Shingle Creek | $1,148 |
| Hawthorne | $1,147 |
| Jordan | $1,147 |
| Near North Minneapolis | $1,147 |
| Willard - Hay | $1,147 |
| Diamond Lake | $1,142 |
| Page | $1,142 |
| Lind - Bohanon | $1,136 |
| Brooklyn Center | $1,127 |
| Armatage | $1,121 |
| Kenny | $1,110 |
| King Field | $1,110 |
| Tangletown | $1,110 |
| Windom | $1,110 |
| Cleveland | $918 |
| Folwell | $918 |
| McKinley | $918 |
| Victory | $918 |
| Webber - Camden | $918 |
What are the most affordable neighborhoods in Minneapolis?
The most affordable neighborhoods in Minneapolis are Cleveland, where the average rent goes for $918/month, Folwell, where renters pay $918/mo on average, and McKinley, where the average rent goes for $918/mo. If you’re looking for other great deals, check out the listings from Victory ($918), Webber - Camden ($918), and Kenny ($1,110), where the asking prices are below the average Minneapolis rent of $1,621/mo.
What are the most expensive neighborhoods in Minneapolis?
The most expensive neighborhoods in Minneapolis are Dinkytown ($1,969), Marcy Holmes ($1,969) and Prospect Park East River Road ($1,969).
What are the most popular neighborhoods in Minneapolis?
The most popular neighborhood in Minneapolis is Uptown Minneapolis, where there are 38 verified RentCafe listings with an average rent of $1,562. Next up is Downtown Minneapolis, where apartments go for $1,561/month, followed by Whittier with $1,432 If you’re looking to rent in Minneapolis’s most popular neighborhoods, make sure to also check out North Loop, where renters pay $1,806 on average, and Loring Park, where the average monthly rent is $1,302.
Minneapolis | Rent Comparison by Neighborhood
Rent in Armatage is 11% lower than in Audubon Park
Armatage rent is 31% lower than Minneapolis average
| Average Rent | $1,121 |
|---|
Audubon Park rent is 22% lower than Minneapolis average
| Average Rent | $1,257 |
|---|
How Minneapolis Compares to Other Cities
| City | Average Rent |
|---|---|
| Minneapolis | $1,621 |
| St. Paul | $1,379 |
| Bloomington | $1,530 |
| St. Louis Park | $1,686 |
| Edina | $1,584 |
| St. Cloud | $965 |
| Coon Rapids | $1,226 |
| Plymouth | $1,532 |
| Minnetonka | $1,537 |
| Eagan | $1,424 |
| Roseville | $1,292 |
| Maplewood | $1,204 |
| Eden Prairie | $1,584 |
| West St. Paul | $1,229 |
| Brooklyn Center | $1,127 |
| Brooklyn Park | $1,198 |
| Burnsville | $1,392 |
| Golden Valley | $1,594 |
| Hopkins | $1,547 |
| Maple Grove | $1,735 |
| New Hope | $1,288 |
Most Popular Apartments in Minneapolis
3033 James Ave S
3033 James Ave S, Minneapolis, MN 55408- Studio
- 1 BED
- 2 BEDS
- Ask for pricing
- Ask for pricing
- $1,295
Lorraine Court
2633 Girard Ave S, Minneapolis, MN 55405- Studio
- 1 BED
- 2 BEDS
- $829
- $945
- Ask for pricing