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Studio Apartments for Rent in Minneapolis, MN
321 Rentals Available


Minneapolis’s average rent reached $1,559 in April

Minneapolis’s average rent reached $1,559 in April, after a 2.7% decrease since last year. A major midwestern job hub with a 50% renter share, Minneapolis is a desirable place to live and work in, with apartment prices above the national average of $1,417. [View Full Report]

Minneapolis apartment rent report

Minneapolis’s average rent was $1,559 in April

Minneapolis’s average rent reached $1,559 in April, after a 2.7% decrease since last year. A major midwestern job hub with a 50% renter share, Minneapolis is a desirable place to live and work in, with apartment prices above the national average of $1,417.

The average rent for an apartment in Minneapolis decreased compared to other surrounding cities, such as Bloomington ($1,359), where prices went up by 1%. Meanwhile, apartment rates in St. Paul increased by 0.5%, reaching a $1,317 average.

Minneapolis apartment rent report

What it costs to rent in the largest renter hubs in the Minneapolis area

Hopkins, the city with the largest renter share (64%) in the Minneapolis area, has a $1,289 average rent, after a 1.2% decrease. Minneapolis comes in second, followed by St. Paul, where 47% of residents are tenants.

Anoka has the fourth largest renter share (40%), with apartments going for $1,182 after a 4.4% annual increase. Last but not least, St. Louis Park's 39% share of renters places it fifth among the area’s renter hubs. The city’s average rent reached $1,506 in April, going down by 0.1% in the past year. 

The priciest and cheapest cities for renters in the Minneapolis area

Maple Grove is the priciest city for renters in the Minneapolis area, with apartments renting for $1,715 per month. Edina’s $1,670 rate is the second most expensive, while apartments in Woodbury ($1,662) come in third.

For renters in search of budget-friendly apartments, New Brighton's $1,117 average rent is the cheapest in the Minneapolis area, followed by Richfield's $1,124 rate. West St. Paul rentals are the third least pricey on the list, with a $1,130 average rent as of April.

Minneapolis and St. Paul apartment rents in popular ZIP codes for renters

Among Minneapolis's most popular renter ZIP codes, 55414 has a $1,891 average rent, above the city average ($1,559). At the same time, rentals in ZIP 55403 go for $1,320, while prices in ZIP 55401 circle around $1,806. Apartment rents in ZIP 55408 clock in at around $1,542, similar to the Minneapolis average, while rates in ZIP 55454 average at $1,315.

When it comes to St. Paul, apartments in ZIP 55116 go for $1,284 on average, while rentals in ZIP 55101 are priced at around $1,566, higher than the city average ($1,317). Meanwhile, ZIP 55119 has an $1,116 average rent and apartment rates in ZIP 55102 circle around $1,513. Rentals in another popular area, ZIP 55106, go for $1,012.

Check out how average rents evolved across the Minneapolis area

Minneapolis apartment rent report

Methodology

RENTCafe.com is a nationwide apartment search website that enables renters to easily find apartments and houses for rent throughout the United States. 

The data on average rents included in our reports comes directly from competitively-rented (market-rate) large-scale multifamily properties (50+ units in size), via telephone survey. The data is compiled and reported by our sister company Yardi Matrix, a business development and asset management tool for brokers, sponsors, banks and equity sources underwriting investments in the multifamily, office, industrial and self-storage sectors. Fully-affordable properties are not included in the survey and are not reported in rental rate averages. Local rent reports include only cities with a statistically-relevant stock of large-scale multifamily properties of 50+ units.

Look for studio apartments near me

Are you looking to land a small but cool studio apartment near you? Is an unbeatable location more important to you than lots of space? You can now browse through all available RENTCafé listings, to find the perfect studio apartment near you, in your favorite neighborhood, ZIP code, or in another city or state in the U.S. wherever life takes you. Check the ratings and reviews of properties with studio apartments, filter them based on your criteria, and find the one that suits your needs.

Compare the size, price and location, as well as amenities, both inside and outside the apartment. Whether you are looking for a more modern studio near you, or one in a charming old building, or maybe you want to be close to a certain park, the downtown area of your city, or near family or friends, RENTCafé allows you to find the best fit for you - so, let's find your new home!

Frequently Asked Questions

What is the price of a studio apartment in Minneapolis, MN?

The price range of a studio apartment is between $450 and $2,461. Search our studio apartments in Minneapolis, MN.

How many studio apartments for rent are available in Minneapolis, MN on RENTCafé?

There are 219 studio rentals available on RENTCafé. Prices and availability in Minneapolis, MN were last updated on 25 Jul 2021.

What is the average size of a studio apartment in Minneapolis, MN?

The average Minneapolis, MN studio apartment size is 437 sq. ft.

What are the advantages of renting a studio apartment in Minneapolis, MN?

Studio apartments in Minneapolis, MN tend to be more affordable than other apartments and they have lower utility costs.

What are the downsides of renting a studio apartment in Minneapolis, MN?

One of the downsides of living in a studio apartment is the limited storage space. You might be interested in 1 bedroom apartments, 2 bedroom apartments or 3 bedroom apartments, or browse all RENTCafé apartments for rent in Minneapolis, MN.

Minneapolis, MN Demographics

  • Total Population420,324
  • Female 212,823
    Male 207,501
  • Median Age32.3

Average Rent in Minneapolis, MN

  • Minneapolis, MN Average Rental Price, June 2021 $1,587 /mo

    Minneapolis, MN Apartment Rent Ranges

    Minneapolis, MN Rent Trends

    Average Rent Mar / 2018 Jul / 2018 Nov / 2018 Mar / 2019 Jul / 2019 Nov / 2019 Mar / 2020 Jul / 2020 Nov / 2020 Mar / 2021 Jun / 2021
    Minneapolis, MN $1,512 $1,557 $1,544 $1,554 $1,591 $1,590 $1,596 $1,602 $1,553 $1,559 $1,587
    National $1,348 $1,357 $1,362 $1,394 $1,401 $1,403 $1,394 $1,397 $1,404 $1,482
    /

    Minneapolis, MN Households

    • Total Number of Households176,974
    • Family 78,820
      Non-family 98,154
    • Children 40,265
      No Children 136,709
    • Average People Per Household2.28
    • Median Household Income$62,583
    • Median Housing Costs Per Month$1,194

    Minneapolis, MN Education Statistics

    Renting a studio apartment in Minneapolis, MN

    The bad news is that the hip neighborhoods are typically not the places to look for truly affordable homes for rent, and Minneapolis, MN is no exception. That is unless you are willing to give up the (real or imagined) benefits of multiple rooms and experience the minimalist simplicity of a small apartment located smack dab in the middle of the action. Leaf through 149 listings with a total of 316 units, and you’ll be sure to find at least a couple of cheap studios that will make you wonder whether having one or two extra rooms is really worth the difference in price and commute time. Already a fan of living small? Why don’t you check out our selection of one room apartments—there’s always a better deal out there, you just have to know where to look for it (Brooklyn Center is the cheapest neighborhood in town—wink wink).

    They are called efficiency apartments for a reason

    In case you’re still wondering, the time and effort put into finding an efficiency apartment does pay off. Literally, and pretty fast too. The Minneapolis, MN average rent is currently at $1,391, but a single-bedroom apartment in Minneapolis, MN can be yours for as low as $840 per month. While the cheapest bachelor units normally have a small bath and one bigger, multifunctional space (meaning that the hall and the kitchen in the main room, basically), you don’t need to have that if it’s not your thing. You can find plenty of one-room apartments in Minneapolis, MN with a separate kitchen. These are still well under the price of an apartment with multiple rooms, but slightly more expensive than your average studio, so it’s a good idea to aim for the higher end of the price range. The currently the most expensive studio apartment in Minneapolis, MN costs a monthly $2,405.

    Finding a home nearby is easier than you think. Check out our Apartments Near Me page and take your pick!