Rental market snapshot for Minneapolis, Minnesota

Minneapolis, Minnesota Rental Property Market Overview

Minneapolis, Minnesota is a vibrant city with a population of 425,336 as of 2021 according to the US Census. It is home to a diverse range of people, cultures, and attractions. The city is known for its vibrant art scene, diverse restaurants, and outdoor activities. Minneapolis is also home to a number of professional sports teams, including the Minnesota Twins, Minnesota Vikings, and Minnesota Timberwolves. With its vibrant culture, diverse population, and abundance of activities, Minneapolis is a great place to live and visit.

The average rent for an apartment in Minneapolis is $1,913. The cost of rent varies depending on several factors, including location, size, and quality.

The average rent has decreased by 0.00% over the past year.

Last Updated February 01, 2024

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Average monthly rent graph in Minneapolis Minnesota | Cost of Living

  • The most expensive ZIP code in Minneapolis is 55415 with an average price of $2,798.
  • The cheapest ZIP code in Minneapolis is 55405 with an average price of $1,199.

Minneapolis ZIP codes with the highest, most expensive rent

#ZIP CodeAverage Rent
155415$2,798
255446$2,691
355401$2,332
455402$2,160
555414$2,025
655413$1,973
755423$1,881
855447$1,865
955407$1,863
1055419$1,853

Live near Minneapolis, Minnesota's Top Sights and Attractions

Mississippi National River and Recreation Area is a 72-mile stretch of the Mississippi River that runs through the heart of the Twin Cities. It is a popular destination for outdoor recreation, offering a variety of activities such as biking, kayaking, fishing, bird watching, and more. The area is also home to many historic sites, including Fort Snelling, the Stone Arch Bridge, and the Mississippi River Gorge. Visitors can also explore the area's many parks, trails, and wildlife refuges.

Mill Ruins Park is a historic outdoor attraction located in Minneapolis, Minnesota. It is situated along the Mississippi River and features the ruins of 19th century flour mills. The park also includes a walking path, a waterfall, and a bridge that crosses the river. Visitors can explore the ruins and learn about the city's industrial history. The park also offers stunning views of the river and the Minneapolis skyline.

Painter Park is a large outdoor recreational area located in Minneapolis, Minnesota. It features a variety of activities and amenities, including a playground, basketball courts, a baseball diamond, a picnic area, and a walking path. The park also has a large pond, which is home to a variety of wildlife, including ducks, geese, and other waterfowl. The park is a popular destination for families, as it provides a safe and enjoyable place to spend time outdoors.

Longfellow Park Rink is an outdoor ice skating rink located in a picturesque park setting. The rink is open to the public and offers a variety of activities, including ice skating, hockey, broomball, and curling. The rink is surrounded by trees and has a warming house with a concession stand. It also offers skate rentals, lessons, and special events throughout the year.

Peavey Park is a large public park located in the heart of the city. It features a variety of attractions, including a large lake, walking trails, playgrounds, picnic areas, and a skate park. The park also hosts a variety of events throughout the year, such as concerts, festivals, and outdoor movies. Peavey Park is a great place to spend time outdoors with friends and family.

North Commons Park is a large public park located in Minneapolis, Minnesota. It features a variety of recreational activities, including a swimming pool, basketball courts, a playground, and a large open field for sports and picnics. The park also has a walking path, a fishing pier, and a large lake with a beach. There is also a community garden and a variety of trees and plants. The park is a popular destination for families, friends, and visitors alike.

Lake Nokomis is a popular recreational area located in the heart of a major metropolitan city. It is a large lake, surrounded by lush green parks and trails. Visitors can enjoy a variety of activities such as swimming, fishing, boating, and picnicking. There are also several playgrounds, a beach, and a boat launch. The lake is a popular spot for bird watching, as many species of birds can be found in the area. In the winter, the lake is a great place for ice skating and ice fishing.

Minneapolis Ghost Walks is a guided tour of the city's haunted history. Participants will explore the city's dark past, learning about the supernatural events that have taken place in the area. Along the way, they will visit some of the city's most haunted locations and hear stories of the ghosts that haunt them. The tour is led by a knowledgeable guide who will provide insight into the city's spooky past.

Powderhorn Park is a large, lush green space located in the heart of a bustling urban area. It features a large lake, walking and biking trails, a playground, and plenty of open space for picnics and other outdoor activities. The park also hosts a variety of events throughout the year, including concerts, festivals, and art shows. It is a great place to relax, take in the scenery, and enjoy the beauty of nature.

Folwell Park is a large public park located in the heart of a major metropolitan area. It features a variety of recreational activities, including a large playground, a swimming pool, a wading pool, a basketball court, a baseball field, a soccer field, a disc golf course, and a walking/biking trail. The park also has a picnic area, a pavilion, and a large lake with a beach. Folwell Park is a great place to spend a day outdoors with family and friends.

Minneapolis, Minnesota area median rent change by ZIP code map

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How does Minneapolis compare to other cities in Minnesota?

citymedian price
Mahtomedi$2,435
Osseo$1,650
Sabin$1,650
St. Cloud$1,495
Sargeant$1,325

Average household income in Minneapolis area graph - US Census

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The median household income in Minneapolis in 2021 was $70,099. This represents a 43.4% change from 2011 when the median was $48,881.

#categorypercent
0Less than $10,0007.4%
1$10,000 to $14,9995.1%
2$15,000 to $19,9993.8%
3$20,000 to $24,9994.0%
4$25,000 to $29,9993.7%
5$30,000 to $34,9993.8%
6$35,000 to $39,9993.9%
7$40,000 to $44,9993.8%
8$45,000 to $49,9993.6%
9$50,000 to $59,9997.0%
10$60,000 to $74,9999.3%
11$75,000 to $99,99912.4%
12$100,000 to $124,9999.1%
13$125,000 to $149,9996.3%
14$150,000 to $199,9997.5%
15$200,000 or more9.4%

Frequently asked questions

Our data is best categorized as "alternative data", which is a burgeoning sector. Through partnerships and direct feeds, we extract key factual elements that are publicly available within rental listings on internet listing sites and property websites. Once aggregated, we mine through the data to parse out relevant insights and calculate important metrics, benchmarks, and other KPIs. Each week, our system sifts through millions of listing observations and other pockets of market information to deliver the most comprehensive picture of rental housing available.

This is a metric that we try not to overthink. Simply, we take each unique listing observation within a geographic boundary and calculate a simple average. Of course, we're careful to filter for duplicates and other listings that aren't reflective of the market.

Yes, but please attribute us accordingly.

Yes. We can deliver bulk raw data in various formats. Please contact us to discuss - [email protected]

While some of our data is refreshed daily and other data comes in weekly, the bulk of it comes in on a biweekly basis.

Our coverage is nationwide! In our platform, we have data points for every ZIP code and neighborhood boundary in the country.

Every rental housing unit is differentiated by attributes such as its location, square footage, and amenity composition. Thanks to machine learning and natural language processing technologies we deploy, we're able to deconstruct our rental listing data points and identify key amenities for each listing. With this information, we're able to give signals around how certain amenities drive rental pricing value in certain areas.

Well, we think so! At the highest level, our process is simple. Listings data is ingested, cleaned (de-duplicated. etc.), analyzed for insights, and then presented to our users.

As of December , the average rent in Minneapolis is $1,913.
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