""
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.

Minnetonka, MN Rental Market Trends

What is the average rent in Minnetonka?

The average rent for an apartment in Minnetonka is $1,537. The cost of rent varies depending on several factors, including location, size, and quality.

Average Rent in Minnetonka, MN

Last updated July 2022
Average Rent Average Apartment Size
$1,537 950 sq. ft.

What is the average apartment size in Minnetonka?

The average size for a Minnetonka, MN apartment is 950 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.

Minnetonka, MN Apartment Rent Ranges

Minnetonka, MN Occupied Housing Units

8,994 or 38% of the households in Minnetonka, MN are renter-occupied while 14,299 or 61% are owner-occupied.

Minnetonka, MN Rent Trends

Average Rent Mar / 2019 Jul / 2019 Nov / 2019 Mar / 2020 Jul / 2020 Nov / 2020 Mar / 2021 Jul / 2021 Nov / 2021 Jul / 2022
Minnetonka, MN $1,406 $1,432 $1,427 $1,456 $1,485 $1,455 $1,457 $1,508 $1,545 $1,537
National $1,367 $1,399 $1,407 $1,409 $1,399 $1,403 $1,412 $1,495 $1,591 $1,628
Access comprehensive real estate data and information on Yardi Matrix

Average Rent in Minnetonka, MN By Neighborhood

/
/

What are the most affordable neighborhoods in Minnetonka?

The most affordable neighborhoods in Minnetonka are Glen Lake, where the average rent goes for $1,429/month, Groveland, where renters pay $1,439/mo on average, and Spring Lake, where the average rent goes for $1,439/mo. If you’re looking for other great deals, check out the listings from Covington Hills ($1,555), Knob Hill Curve ($1,555), and Oak Terrace ($1,555), where the asking prices are below the average Minnetonka rent of $1,537/mo.

What are the most expensive neighborhoods in Minnetonka?

The most expensive neighborhoods in Minnetonka are McGinty E ($1,706), Runnymeade ($1,706) and Westernesse ($1,706).

What are the most popular neighborhoods in Minnetonka?

The most popular neighborhood in Minnetonka is Runnymeade, where there are 8 verified RentCafe listings with an average rent of $1,706. Next up is Westernesse, where apartments go for $1,706/month, followed by Glen Lake with $1,429 If you’re looking to rent in Minnetonka’s most popular neighborhoods, make sure to also check out Covington Hills, where renters pay $1,555 on average, and Auburn - Huntingdon, where the average monthly rent is $1,706.

Minnetonka | Rent Comparison by Neighborhood

Neighborhood
vs.

Rent in Auburn - Huntingdon is 10% higher than in Covington Hills

$1,706

Auburn - Huntingdon rent is 11% higher than Minnetonka average

Average Rent $1,706
$1,555

Covington Hills rent is 1% higher than Minnetonka average

Average Rent $1,555

How Minnetonka 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
Burnsville $1,392
Golden Valley $1,594
Brooklyn Center $1,127
Eden Prairie $1,584
Hopkins $1,547
Brooklyn Park $1,198
Chaska $1,485
Maple Grove $1,735
New Hope $1,288

Most Popular Apartments in Minnetonka

View more properties
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 Minnetonka 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.