Minneapolis, MN Rental Market Trends
Highlights
The average rent for an apartment in Minneapolis is $1,552, a 3% decrease compared to the previous year.
Average Rent in Minneapolis, MN
Average Rent | Y-o-Y Change | Average Apartment Size |
---|---|---|
$1,552 | -3% | 785 sq. ft. |
The average size for a Minneapolis, MN apartment is 785 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-$1,00015%
- $1,001-$1,50042%
- $1,501-$2,00025%
- > $2,00017%
Minneapolis, MN Occupied Housing Units
- Renter-occupied Households55%
- Owner-occupied Households44%
98,154 or 55% of the households in Minneapolis, MN are renter-occupied while 78,820 or 44% are owner-occupied.
Minneapolis, MN Rent Trends
Average Rent | Nov / 2017 | Mar / 2018 | Jul / 2018 | Nov / 2018 | Mar / 2019 | Jul / 2019 | Nov / 2019 | Mar / 2020 | Jul / 2020 | Nov / 2020 | Jan / 2021 |
---|---|---|---|---|---|---|---|---|---|---|---|
Minneapolis, MN | $1,487 | $1,512 | $1,557 | $1,544 | $1,554 | $1,591 | $1,590 | $1,596 | $1,602 | $1,553 | $1,552 |
National | $1,309 | $1,311 | $1,342 | $1,351 | $1,356 | $1,388 | $1,395 | $1,397 | $1,389 | $1,392 | $1,392 |

Average Rent in Minneapolis, MN By Neighborhood
Neighborhood | Average Rent |
---|---|
Como | $1,872 |
Dinkytown | $1,872 |
Marcy Holmes | $1,872 |
Prospect Park East River Road | $1,872 |
Nicollet Island - East Bank | $1,867 |
North Loop | $1,779 |
Beltrami | $1,744 |
Mid - City Industrial | $1,744 |
Sheridan | $1,744 |
St. Anthony East | $1,744 |
St. Anthony West | $1,744 |
University of Minnesota | $1,722 |
Cedar - Isles - Dean | $1,700 |
West Calhoun | $1,700 |
Linden Hills | $1,683 |
Bryn - Mawr | $1,680 |
Kenwood | $1,680 |
ECCO | $1,647 |
Downtown Minneapolis | $1,546 |
CARAG | $1,546 |
East Harriet | $1,546 |
Lyndale | $1,546 |
Central Minneapolis | $1,527 |
Holland | $1,524 |
Logan Park | $1,524 |
Northeast Park | $1,524 |
Uptown Minneapolis | $1,522 |
Lynnhurst | $1,466 |
Phillips West | $1,399 |
Whittier | $1,397 |
Cedar Riverside | $1,327 |
Cooper | $1,317 |
Howe | $1,317 |
Longfellow | $1,317 |
Loring Park | $1,315 |
Lowry Hill | $1,311 |
Corcoran | $1,309 |
Ericsson | $1,309 |
Standish | $1,309 |
Hiawatha | $1,302 |
Bancroft | $1,281 |
Bryant | $1,281 |
Powderhorn Park | $1,281 |
Stevens Square - Loring Heights | $1,276 |
Northrop | $1,259 |
Robbinsdale | $1,249 |
Harrison | $1,236 |
Hale | $1,228 |
Keewaydin | $1,228 |
Minnehaha | $1,228 |
Morris Park | $1,228 |
Wenoah | $1,228 |
Seward | $1,228 |
St. Anthony | $1,212 |
East Phillips | $1,198 |
Midtown Phillips | $1,198 |
Audubon Park | $1,195 |
Bottineau | $1,195 |
Columbia Park | $1,195 |
Marshall Terrace | $1,195 |
Waite Park | $1,195 |
Windom Park | $1,195 |
Sumner - Glenwood | $1,194 |
Ventura Village | $1,188 |
Hawthorne | $1,169 |
Jordan | $1,169 |
Near North Minneapolis | $1,169 |
Willard - Hay | $1,169 |
Field | $1,150 |
Regina | $1,134 |
Diamond Lake | $1,111 |
Page | $1,111 |
Shingle Creek | $1,097 |
Richfield | $1,091 |
Lind - Bohanon | $1,086 |
Fulton | $1,082 |
Armatage | $1,079 |
Kenny | $1,078 |
King Field | $1,078 |
Tangletown | $1,078 |
Windom | $1,078 |
Brooklyn Center | $1,077 |
Cleveland | $881 |
Folwell | $881 |
McKinley | $881 |
Victory | $881 |
Webber - Camden | $881 |
The most affordable neighborhoods in Minneapolis are Cleveland, where the average rent goes for $881/month, Folwell, where renters pay $881/mo on average, and McKinley, where the average rent goes for $881/mo. If you’re looking for other great deals, check out the listings from Victory ($881), Webber - Camden ($881), and Brooklyn Center ($1,077), where the asking prices are below the average Minneapolis rent of $1,552/mo.
The most expensive neighborhoods in Minneapolis are Dinkytown ($1,872), Marcy Holmes ($1,872) and Prospect Park East River Road ($1,872).
The most popular neighborhood in Minneapolis is Uptown Minneapolis, where there are 47 verified RENTCafé listings with an average rent of $1,522. Next up is Whittier, where apartments go for $1,397/month, followed by North Loop with $1,779 If you’re looking to rent in Minneapolis’s most popular neighborhoods, make sure to also check out Downtown Minneapolis, where renters pay $1,546 on average, and Loring Park, where the average monthly rent is $1,315.
Minneapolis | Rent Comparison by Neighborhood
Rent in Armatage is 10% lower than in Audubon Park
Armatage rent is 30% lower than Minneapolis average
Average Rent | $1,079 |
---|
Audubon Park rent is 23% lower than Minneapolis average
Average Rent | $1,195 |
---|
How Minneapolis Compares to Other Cities
Average Rent | Y-o-Y Change | |
---|---|---|
Minneapolis | $1,552 | -3% |
St. Paul | $1,290 | -1% |
St. Cloud | $881 | 2% |
Edina | $1,497 | -1% |
Bloomington | $1,440 | -1% |
St. Louis Park | $1,613 | -1% |
Plymouth | $1,428 | 1% |
Minnetonka | $1,455 | 2% |
Coon Rapids | $1,173 | 3% |
Eagan | $1,329 | n/a |
Maplewood | $1,141 | 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!