Minnetonka, MN Rental Market Trends
Highlights
The average rent for an apartment in Minnetonka is $1,455, a 2% increase compared to the previous year, when the average rent was $1,427.
Average Rent in Minnetonka, MN
| Average Rent | Y-o-Y Change | Average Apartment Size |
|---|---|---|
| $1,455 | 2% | 950 sq. ft. |
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
- $701-$1,0006%
- $1,001-$1,50058%
- $1,501-$2,00029%
- > $2,0008%
Minnetonka, MN Occupied Housing Units
- Renter-occupied Households39%
- Owner-occupied Households60%
9,173 or 39% of the households in Minnetonka, MN are renter-occupied while 13,892 or 60% are owner-occupied.
Minnetonka, MN Rent Trends
| Average Rent | Mar / 2018 | Jul / 2018 | Nov / 2018 | Mar / 2019 | Jul / 2019 | Nov / 2019 | Mar / 2020 | Jul / 2020 | Mar / 2021 |
|---|---|---|---|---|---|---|---|---|---|
| Minnetonka, MN | $1,268 | $1,273 | $1,354 | $1,406 | $1,432 | $1,427 | $1,456 | $1,485 | $1,455 |
| National | $1,311 | $1,342 | $1,351 | $1,356 | $1,388 | $1,395 | $1,397 | $1,389 | $1,392 |
Average Rent in Minnetonka, MN By Neighborhood
| Neighborhood | Average Rent |
|---|---|
| Auburn - Huntingdon | $1,628 |
| Hopkins West | $1,628 |
| McGinty E | $1,628 |
| Runnymeade | $1,628 |
| Westernesse | $1,628 |
| Glen Lake | $1,342 |
| Covington Hills | $1,334 |
| Knob Hill Curve | $1,334 |
| Oak Terrace | $1,334 |
| Spring Hill Park | $1,334 |
| Tonkawood | $1,334 |
| Groveland | $1,281 |
| Spring Lake | $1,281 |
The most affordable neighborhoods in Minnetonka are Groveland, where the average rent goes for $1,281/month, Spring Lake, where renters pay $1,281/mo on average, and Covington Hills, where the average rent goes for $1,334/mo. If you’re looking for other great deals, check out the listings from Knob Hill Curve ($1,334), Oak Terrace ($1,334), and Spring Hill Park ($1,334), where the asking prices are below the average Minnetonka rent of $1,455/mo.
The most expensive neighborhoods in Minnetonka are McGinty E ($1,628), Runnymeade ($1,628) and Westernesse ($1,628).
The most popular neighborhood in Minnetonka is Westernesse, where there are 8 verified RENTCafé listings with an average rent of $1,628. Next up is Glen Lake, where apartments go for $1,342/month, followed by Runnymeade with $1,628 If you’re looking to rent in Minnetonka’s most popular neighborhoods, make sure to also check out Covington Hills, where renters pay $1,334 on average, and Auburn - Huntingdon, where the average monthly rent is $1,628.
Minnetonka | Rent Comparison by Neighborhood
Rent in Auburn - Huntingdon is 22% higher than in Covington Hills
Auburn - Huntingdon rent is 12% higher than Minnetonka average
| Average Rent | $1,628 |
|---|
Covington Hills rent is 8% lower than Minnetonka average
| Average Rent | $1,334 |
|---|
How Minnetonka 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% |
| Eden Prairie | $1,462 | -2% |
| Hopkins | $1,473 | 3% |
| Brooklyn Center | $1,077 | 2% |
For more information about the Minnetonka 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!