Minneapolis, MN Rental Market Trends

Highlights

The average rent for an apartment in Minneapolis is $1,457, a 5% increase compared to the previous year, when the average rent was $1,390.

Average Rent in Minneapolis, MN

Last updated Feb 2019

Average Rent	Y-o-Y Change	Average Apartment Size
$1,457	5%	805 sq. ft.

The average size for a Minneapolis, MN apartment is 805 square feet, but this number varies greatly depending on apartment type. 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

$501-$7002%
$701-$1,00024%
$1,001-$1,50037%
$1,501-$2,00023%
> $2,00014%

Minneapolis, MN Rent Trends

Average Rent	Jan / 2016	May / 2016	Sept / 2016	Jan / 2017	May / 2017	Sept / 2017	Jan / 2018	May / 2018	Feb / 2019
Minneapolis, MN	$1,290	$1,315	$1,334	$1,355	$1,383	$1,390	$1,420	$1,425	$1,457
National	$1,290	$1,319	$1,334	$1,329	$1,354	$1,366	$1,366	$1,381	$1,396

Average Rent in Minneapolis, MN By Neighborhood

Average Rent
Neighborhood	Average Rent
Webber - Camden	$830
Victory	$830
McKinley	$830
Folwell	$830
Cleveland	$830
Wenoah	$878
Morris Park	$878
Minnehaha	$878
Keewaydin	$878
Hale	$878
Harrison	$972
Brooklyn Center	$1,002
Lind - Bohanon	$1,014
Shingle Creek	$1,023
Page	$1,023
Diamond Lake	$1,023
Windom	$1,043
Tangletown	$1,043
King Field	$1,043
Kenny	$1,043
Armatage	$1,050
Fulton	$1,076
Field	$1,081
Ventura Village	$1,084
Richfield	$1,086
Regina	$1,101
Windom Park	$1,104
Waite Park	$1,104
Marshall Terrace	$1,104
Columbia Park	$1,104
Bottineau	$1,104
Audubon Park	$1,104
Midtown Phillips	$1,104
East Phillips	$1,104
Sumner - Glenwood	$1,126
St. Anthony	$1,127
Seward	$1,142
Northrop	$1,155
Robbinsdale	$1,157
Willard - Hay	$1,167
Near North Minneapolis	$1,167
Jordan	$1,167
Hawthorne	$1,167
Hiawatha	$1,237
Powderhorn Park	$1,253
Bryant	$1,253
Bancroft	$1,253
Stevens Square - Loring Heights	$1,261
Cedar Riverside	$1,262
Standish	$1,271
Ericsson	$1,271
Corcoran	$1,271
Longfellow	$1,277
Howe	$1,277
Cooper	$1,277
Lowry Hill	$1,324
Loring Park	$1,333
Whittier	$1,356
Phillips West	$1,360
Lynnhurst	$1,454
Northeast Park	$1,526
Logan Park	$1,526
Holland	$1,526
Central Minneapolis	$1,526
Uptown Minneapolis	$1,527
Downtown Minneapolis	$1,546
Lyndale	$1,551
East Harriet	$1,551
CARAG	$1,551
ECCO	$1,631
Linden Hills	$1,653
University of Minnesota	$1,653
Kenwood	$1,656
Bryn - Mawr	$1,656
West Calhoun	$1,670
Cedar - Isles - Dean	$1,670
North Loop	$1,803
Prospect Park East River Road	$1,818
Marcy Holmes	$1,818
Dinkytown	$1,818
Como	$1,818
St. Anthony West	$1,821
St. Anthony East	$1,821
Sheridan	$1,821
Mid - City Industrial	$1,821
Beltrami	$1,821
Nicollet Island - East Bank	$1,855

The most affordable neighborhoods in Minneapolis are Cleveland, where the average rent goes for $830/month, Folwell, where renters pay $830/mo on average, and McKinley, where the average rent goes for $830/mo. If you’re looking for other great deals, check out the listings from Victory ($830), Webber - Camden ($830), and Hale ($878), where the asking prices are below the average Minneapolis rent of $1,457/mo.

The most expensive neighborhoods in Minneapolis are St. Anthony East ($1,821), St. Anthony West ($1,821) and Nicollet Island - East Bank ($1,855).

Minneapolis | Rent Comparison by Neighborhood

Rent in Armatage is 5% lower than in Audubon Park

$1,050

Armatage rent is 28% lower than Minneapolis average

Average Rent	$1,050

$1,104

Audubon Park rent is 24% lower than Minneapolis average

Average Rent	$1,104

How Does Minneapolis Compare to Nearby Cities

	Average Rent	Y-o-Y Change
St. Louis Park	$1,559	5%
Edina	$1,438	9%
Minnetonka	$1,354	7%
Minneapolis	$1,457	5%
Brooklyn Park	$1,015	4%
St. Anthony	$1,127	5%
Hopkins	$1,363	7%
New Hope	$1,116	5%
Bloomington	$1,385	6%
Plymouth	$1,351	5%
Eden Prairie	$1,407	8%

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

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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.