Minnetonka, MN Rental Market Trends

Highlights

The average rent for an apartment in Minnetonka is $1,354, a 7% increase compared to the previous year, when the average rent was $1,262.

Average Rent in Minnetonka, MN

Last updated Jan 2019
Average Rent Y-o-Y Change Average Apartment Size
$1,354 7% 944 sq. ft.

The average size for a Minnetonka, MN apartment is 944 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.

Minnetonka, MN Apartment Rent Ranges

  • $701-$1,00013%
  • $1,001-$1,50060%
  • $1,501-$2,00023%
  • > $2,0004%

Minnetonka, MN Rent Trends

Average Rent Jan / 2016 May / 2016 Sept / 2016 Jan / 2017 May / 2017 Sept / 2017 Jan / 2018 May / 2018 Jan / 2019
Minnetonka, MN $1,161 $1,191 $1,201 $1,229 $1,261 $1,262 $1,268 $1,273 $1,354
National $1,290 $1,319 $1,334 $1,329 $1,354 $1,366 $1,366 $1,381 $1,396
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Average Rent in Minnetonka, MN By Neighborhood

The most affordable neighborhoods in Minnetonka are Glen Lake, where the average rent goes for $1,277/month, Groveland, where renters pay $1,280/mo on average, and Spring Lake, where the average rent goes for $1,280/mo. If you’re looking for other great deals, check out the listings from Covington Hills ($1,358), Knob Hill Curve ($1,358), and Oak Terrace ($1,358), where the asking prices are below the average Minnetonka rent of $1,354/mo.

The most expensive neighborhoods in Minnetonka are McGinty E ($1,470), Runnymeade ($1,470) and Westernesse ($1,470).

Minnetonka | Rent Comparison by Neighborhood

Neighborhood
vs.
Neighborhood

Rent in Auburn - Huntingdon is 8% higher than in Covington Hills

$1,470

Auburn - Huntingdon rent is 9% higher than Minnetonka average

Average Rent $1,470
$1,358

Covington Hills rent is 1% higher than Minnetonka average

Average Rent $1,358

How Does Minnetonka Compare to Nearby Cities

Average Rent Y-o-Y Change
Minneapolis $1,457 5%
St. Louis Park $1,559 5%
Edina $1,438 9%
Brooklyn Park $1,015 4%
St. Anthony $1,127 5%
Hopkins $1,363 7%
Bloomington $1,385 6%
Plymouth $1,351 5%
Brooklyn Center $1,002 4%
Eden Prairie $1,407 8%
Minnetonka $1,354 7%

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

Cheapest Listings on RENTCafé

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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 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.

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