Richfield, MN Rental Market Trends
Highlights
The average rent for an apartment in Richfield is $1,120, a 3% increase compared to the previous year, when the average rent was $1,086.
Average Rent in Richfield, MN
| Average Rent | Y-o-Y Change | Average Apartment Size |
|---|---|---|
| $1,120 | 3% | 713 sq. ft. |
The average size for a Richfield, MN apartment is 713 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-$1,00022%
- $1,001-$1,50073%
- $1,501-$2,0005%
Richfield, MN Occupied Housing Units
- Renter-occupied Households45%
- Owner-occupied Households54%
6,838 or 45% of the households in Richfield, MN are renter-occupied while 8,138 or 54% are owner-occupied.
Richfield, MN Rent Trends
| Average Rent | Mar / 2017 | Jul / 2017 | Nov / 2017 | Mar / 2018 | Jul / 2018 | Nov / 2018 | Mar / 2019 | Jul / 2019 | Jan / 2020 |
|---|---|---|---|---|---|---|---|---|---|
| Richfield, MN | $1,005 | $1,020 | $1,048 | $1,044 | $1,043 | $1,086 | $1,093 | $1,099 | $1,120 |
| National | $1,350 | $1,382 | $1,385 | $1,388 | $1,423 | $1,431 | $1,434 | $1,469 | $1,474 |
How Richfield 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% |
| Minnetonka | $1,427 | 5% |
| West St. Paul | $1,095 | 7% |
| Brooklyn Center | $1,054 | 5% |
| Eagan | $1,324 | 4% |
| Richfield | $1,120 | 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!