Minnetonka, MN Rental Market Trends
Highlights
The average rent for an apartment in Minnetonka is $1,427, a 5% increase compared to the previous year, when the average rent was $1,354.
Average Rent in Minnetonka, MN
| Average Rent | Y-o-Y Change | Average Apartment Size |
|---|---|---|
| $1,427 | 5% | 947 sq. ft. |
The average size for a Minnetonka, MN apartment is 947 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-$1,0008%
- $1,001-$1,50058%
- $1,501-$2,00028%
- > $2,0006%
Minnetonka, MN Occupied Housing Units
- Renter-occupied Households40%
- Owner-occupied Households59%
9,274 or 40% of the households in Minnetonka, MN are renter-occupied while 13,770 or 59% are owner-occupied.
Minnetonka, MN Rent Trends
| Average Rent | Mar / 2017 | Jul / 2017 | Nov / 2017 | Mar / 2018 | Jul / 2018 | Nov / 2018 | Mar / 2019 | Jul / 2019 | Jan / 2020 |
|---|---|---|---|---|---|---|---|---|---|
| Minnetonka, MN | $1,229 | $1,261 | $1,262 | $1,268 | $1,273 | $1,354 | $1,406 | $1,432 | $1,427 |
| National | $1,350 | $1,382 | $1,385 | $1,388 | $1,423 | $1,431 | $1,434 | $1,469 | $1,474 |
Average Rent in Minnetonka, MN By Neighborhood
| Neighborhood | Average Rent |
|---|---|
| Glen Lake | $1,350 |
| Spring Lake | $1,355 |
| Groveland | $1,355 |
| Tonkawood | $1,417 |
| Spring Hill Park | $1,417 |
| Oak Terrace | $1,417 |
| Knob Hill Curve | $1,417 |
| Covington Hills | $1,417 |
| Westernesse | $1,540 |
| Runnymeade | $1,540 |
| McGinty E | $1,540 |
| Hopkins West | $1,540 |
| Auburn - Huntingdon | $1,540 |
The most affordable neighborhoods in Minnetonka are Glen Lake, where the average rent goes for $1,350/month, Groveland, where renters pay $1,355/mo on average, and Spring Lake, where the average rent goes for $1,355/mo. If you’re looking for other great deals, check out the listings from Covington Hills ($1,417), Knob Hill Curve ($1,417), and Oak Terrace ($1,417), where the asking prices are below the average Minnetonka rent of $1,427/mo.
The most expensive neighborhoods in Minnetonka are McGinty E ($1,540), Runnymeade ($1,540) and Westernesse ($1,540).
The most popular neighborhood in Minnetonka is Westernesse, where there are 7 verified RENTCafé listings with an average rent of $1,540. Next up is Runnymeade, where apartments go for $1,540/month, followed by Glen Lake with $1,350 If you’re looking to rent in Minnetonka’s most popular neighborhoods, make sure to also check out Covington Hills, where renters pay $1,417 on average, and Auburn - Huntingdon, where the average monthly rent is $1,540.
Minnetonka | Rent Comparison by Neighborhood
Rent in Auburn - Huntingdon is 9% higher than in Covington Hills
Auburn - Huntingdon rent is 8% higher than Minnetonka average
| Average Rent | $1,540 |
|---|
Covington Hills rent is 1% lower than Minnetonka average
| Average Rent | $1,417 |
|---|
How Minnetonka Compares to Other Cities
| Average Rent | Y-o-Y Change | |
|---|---|---|
| Minneapolis | $1,594 | 3% |
| St. Paul | $1,301 | 4% |
| Bloomington | $1,448 | 5% |
| St. Cloud | $865 | 3% |
| St. Louis Park | $1,622 | 4% |
| Edina | $1,509 | 5% |
| Plymouth | $1,419 | 5% |
| Minnetonka | $1,427 | 5% |
| Chaska | $1,285 | 1% |
| Brooklyn Center | $1,054 | 5% |
| Eden Prairie | $1,489 | 6% |
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!