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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.

Richfield, MN Rental Market Trends

Highlights

The average rent for an apartment in Richfield is $1,091, a 3% decrease compared to the previous year, when the average rent was $1,120.

Average Rent in Richfield, MN

Last updated January 2021
Average Rent Y-o-Y Change Average Apartment Size
$1,091 -3% 721 sq. ft.

The average size for a Richfield, MN apartment is 721 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.

Richfield, MN Apartment Rent Ranges

  • $701-$1,00033%
  • $1,001-$1,50059%
  • $1,501-$2,0007%

Richfield, MN Occupied Housing Units

  • Renter-occupied Households46%
  • Owner-occupied Households53%

6,998 or 46% of the households in Richfield, MN are renter-occupied while 8,058 or 53% are owner-occupied.

Richfield, MN Rent Trends

Average Rent Mar / 2018 Jul / 2018 Nov / 2018 Mar / 2019 Jul / 2019 Nov / 2019 Mar / 2020 Jul / 2020 Jan / 2021
Richfield, MN $1,044 $1,043 $1,086 $1,093 $1,099 $1,120 $1,143 $1,143 $1,091
National $1,381 $1,418 $1,428 $1,432 $1,468 $1,475 $1,477 $1,464 $1,462
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Access comprehensive real estate data and information on Yardi Matrix

How Richfield Compares to Other Cities

Average Rent Y-o-Y Change
Minneapolis $1,540 -4%
St. Paul $1,283 -2%
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%
Maplewood $1,141 4%
Eagan $1,329 n/a
Richfield $1,091 -3%

For more information about the Richfield 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!

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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 Richfield 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.