Minneapolis rent prices in 2026: up 3.6% in a year, faster than the nation
Typical rent in Minneapolis is $1,682 a month as of August 2026, according to RentDataNow data built on the Zillow Observed Rent Index. It rose 3.6% over the past year, faster than the national increase of 2.6%, though it's still about 14% below the national typical rent of $1,948.
More than half of Minneapolis households rent, 52.3%, according to the Census Bureau, so rent moves matter to most of the city. Our Rent Reality Score puts Minneapolis at 50 out of 100, meaning today's rent sits right at the $1,685 its own long-run trend would predict.
By apartment size, our estimates look like this.
Apartment size | Estimated monthly rent |
|---|---|
$1,281 | |
$1,449 | |
$1,768 | |
$2,358 | |
$2,647 |
The size figures are estimates based on HUD fair market rents for the area. Going from one bedroom to two adds about $320 a month, and a third bedroom adds roughly $590 on top of that.
The median Minneapolis household earns $80,846, and a year of typical rent takes 25.0% of that. To keep typical rent at 30% of gross pay, a household needs about $67,280 a year. Our Minneapolis affordability page shows the numbers for other incomes.
Over five years, typical rent went from $1,425 in 2021 to $1,682 today, up $257, or 18.0%. Median household income rose 15.3% between the Census Bureau's 2021 and 2024 surveys, so rent's edged ahead of pay.
The cheapest zips are 55405 at $1,397, 55403 at $1,436, and 55404 at $1,443. The priciest is 55410 at $2,445, followed by 55415 at $2,043 and 55401 at $2,026. Those last two rose 4.6% and 4.1% over the year, both faster than the city as a whole.
In July, 40.5% of rental listings in the Minneapolis metro offered a concession, according to Zillow, close to the national 39.8%. If a renewal comes in higher than you expected, our guide to your options when the rent goes up walks through them.
Sources
RentDataNow Minneapolis rent data, anchored to the Zillow Observed Rent Index, August 2026, with apartment-size estimates based on HUD fair market rents
US Census Bureau, American Community Survey, for median household income and the share of households that rent
Zillow Research, July 2026 rent report, for concession shares
Frequently Asked Questions
What is the average rent in Minneapolis?
Typical rent in Minneapolis is $1,682 a month as of August 2026, up 3.6% from a year earlier and about 14% below the national typical rent of $1,948. A one-bedroom runs about $1,449 and a two-bedroom about $1,768.
How much do you need to make to live in Minneapolis?
About $67,280 a year to keep the typical $1,682 rent at 30% of gross income. The median Minneapolis household earns $80,846, so typical rent takes about 25.0% of its income.
Is rent going up in Minneapolis?
Yes, faster than the country. Typical rent rose 3.6% over the year ending in August 2026, compared with 2.6% nationally. Over five years it's up 18.0%, from $1,425 in 2021 to $1,682 today.
Related Rent Guides
How income-based apartments work, and what it takes to get one in Charlotte, Greenville, or Minneapolis
A single person in Charlotte can earn up to $49,320 and still qualify for many tax credit apartments. But Charlotte's voucher list…
Rent prices in the 25 biggest US cities: 18 are at record highs, and San Francisco is up 59% in five years
Typical rent in the 25 biggest US cities runs from $1,381 in San Antonio to $4,784 in San Francisco. Eighteen of the 25 are at rec…
Average rent in California: every big city ranked, from $4,784 in San Francisco to $1,901 in Bakersfield
Typical rent in California's big cities ranges from $4,784 in San Francisco to $1,901 in Bakersfield. Most rose modestly in the pa…
Henry Jo is a housing analyst covering rent data, affordability, city comparisons, and much more. He started following rental data while apartment hunting in two cities at once, and he lives in the Pacific Northwest.
Comments (0)
Sign in to join the discussion
No comments yet. Be the first to share your thoughts.