How much does it cost to rent in Minneapolis, MN?

As of July 2026, the median monthly rent in Minneapolis, MN is $1,686. This figure is based on aggregated data from public sources and community-submitted rents.

Is Minneapolis cheaper than other Minnesota cities?

Minneapolis falls in the middle range for Minnesota, ranking #34 out of 67 cities at $1,686/mo.

When was Minneapolis rent data last updated?

Minneapolis rent data reflects July 2026 and was last refreshed on July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.

Meg Jenson / Unsplash

City Report · MN

Minneapolis

Name: Average Rent Prices in Minneapolis, MN
Creator: RentDataNow
License: https://rentdatanow.com/terms-of-service

Pop. 427,246·34th most expensive in Minnesota·Minneapolis rents are up 6.3% over the past year

Median rent (all units)

$1,686/mo

Year-over-Year

+6.3%

Month-over-Month

Stable

vs US Median

-$279

Stable (Monthly)

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Most AffordableMost Expensive

Minneapolis · $1,686

More affordable than 62% of US cities · National median $1,965/mo

Rent Reality Score

47/100

Fairly priced

OverheatedFairGreat value

Rents are right about where Minneapolis's 10-year trend predicts.

Actual rent

$1,686/mo

Expected by trend

$1,665/mo

The Rent Reality Score compares today's median rent to where Minneapolis's own long-run trajectory projects it should be. See the full rankings →

Medians by bedroom

Rent by unit size

Studio

$1,281

1 BR

$1,449

2 BR

$1,768

3 BR

$2,358

4 BR+

$2,647

Research median

$1,768/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

Loading…

Last updated: July 20, 2026

Annual cost

$20,232/yr

At $1,686/mo median

Rent Market Meter

Strong Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are up 6.3% year-over-year. Expect competition, and move quickly to lock in terms.

Based on rent-price momentum (+6.3% YoY, +0.0% MoM), not inventory.

Rent check

Is your rent fair?

Compare your rent to the local median.

Demographics

Who lives here

Minneapolis, MN is roughly split between renters and owners, skews toward younger working-age adults, 55.5% of residents hold a bachelor's degree or higher.

Population

427,246

Median income

$80,846

Median age

33.4

Renters

52.3%

Age distribution

18.8%

34.3%

25.7%

Under 1818.8%

18–3434.3%

35–5425.7%

55–649.8%

65+11.4%

Gender

50.9%

49.1%

Male50.9%

Female49.1%

Race & ethnicity

60.3%

18.8%

White60.3%

Black18.8%

Hispanic10.1%

Asian5.3%

Other5.5%

Education (25+)

13.7%

22.3%

55.5%

No HS diploma8.5%

HS diploma13.7%

Some college22.3%

Bachelor's+55.5%

Housing tenure

47.7%

52.3%

Owner47.7%

Renter52.3%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How Minneapolis, MN has changed in 5 years

Rent

$1,414 → $1,686

up 19.2%

Income

$70,099 → $80,846

up 15.3%

Population

425,091 → 427,246

up 0.5%

Renter share

51.9% → 52.3%

+0.4 pts

Bachelor's+

52.6% → 55.5%

+2.9 pts

Median age

32.7 → 33.4

+0.7 yrs

Compared with 2021, rent in Minneapolis, MN has increased by $272 per month, settling near $1,686 after starting the period at $1,414. On the earnings side, the typical household in Minneapolis, MN now reports about $80,846, up from $70,099 in 2021. Rent outpaced income growth by roughly 3.9 percentage points, which means renters are spending a larger slice of each paycheck on housing than they did in 2021. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher climbed from 52.6% to 55.5%. For context, the 2021 to 2026 window covers an unusually volatile run for US rents nationally, and Minneapolis, MN reflects that arc in its own way.

Community

Discussions about Minneapolis

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View Minneapolis rent history (2015–2026) →

Salary vs rent

Can you afford rent in Minneapolis on your salary?

At $1,686/mo, how Minneapolis rent compares to typical pay (30% rule).

Registered Nurse

Avg $98,259/yr · Rent = 20.6% income

affordable

Elementary School Teacher

Avg $69,763/yr · Rent = 29% income

affordable

Police Officer

Avg $80,361/yr · Rent = 25.2% income

affordable

Software Developer

Avg $143,634/yr · Rent = 14.1% income

very comfortable

Lawyer

Avg $183,529/yr · Rent = 11% income

very comfortable

Firefighter

Avg $65,322/yr · Rent = 31% income

stretched

Truck Driver

Avg $58,978/yr · Rent = 34.3% income

stretched

Electrician

Avg $72,696/yr · Rent = 27.8% income

affordable

By apartment size

Minneapolis rent by bedroom count

Median rent for each apartment size in Minneapolis. Click any size for full breakdown.

Local insights

Tips for renters in Minneapolis

About renting in Minneapolis, MN

Last updated: July 20, 2026

The median rent in Minneapolis is $1,686/mo as of July 2026. A studio apartment averages $1,281/mo while a 2-bedroom runs $1,768/mo. One-bedroom apartments average $1,449/mo and 3-bedroom units go for $2,358/mo.

At 25% of local median household income ($80,846/yr), Minneapolis ranks as affordable compared to the national benchmark of 30%. Rents have increased 6.3% over the past year.

FAQ

Frequently asked questions

Is Minneapolis an affordable city for renters?

Minneapolis is considered affordable for renters. At $1,686/mo, rent takes approximately 25% of the local median household income ($80,846/yr). The standard benchmark is 30%. Minneapolis falls comfortably within that range.

How much income do you need to rent in Minneapolis?

To keep rent at or below 30% of gross income, you would need to earn at least $67,000/year (~$32/hour full-time) to afford the median rent of $1,686/mo in Minneapolis. The local median household income is $80,846/yr, meaning the typical Minneapolis household meets that threshold.

Is rent going up or down in Minneapolis?

Rent in Minneapolis has increased 6.3% over the past year as of July 2026, putting upward pressure on renter budgets.

Which Minneapolis neighborhoods have the lowest rent?

The most affordable ZIP codes in Minneapolis are 55405 ($1,393/mo), 55406 ($1,436/mo), and 55404 ($1,438/mo). Citywide, the median rent in Minneapolis is $1,686/mo.

How does Minneapolis rent compare to other cities in Minnesota?

Minneapolis is middle-of-the-pack for Minnesota for rent, ranking #34 out of 67 tracked cities at $1,686/mo.

Which nearby cities are cheaper to rent in than Minneapolis?

Several nearby cities have lower median rents than Minneapolis ($1,686/mo): Richfield ($1,318/mo), Columbia Heights ($1,566/mo).

What percentage of Minneapolis residents rent vs. own?

According to Census data, approximately 52.3% of Minneapolis households are renters, while 47.7% are owner-occupied. With a majority renter population, Minneapolis has a strong rental market.

How does Minneapolis rent compare to the national average?

Minneapolis's median rent of $1,686/mo is $279 (14%) below the US national median of $1,965/mo. Within Minnesota, it ranks #34 out of 67 tracked cities.

Income Affordability

25%

AFFORDABLE

At $1,686/mo, rent takes ~25% of Minneapolis's median household income ($80,846/yr). The standard benchmark is 30%.

Minneapolis 25%Benchmark 30%

State income tax5.35–9.85%

Run the Minneapolis affordability calculator →

Nearby cities