Rents are right about where Minneapolis's 10-year trend predicts.
Rent by unit size
These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $1,747 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.
Source: HUD Small Area Fair Market Rents. Read the methodology →
12-month history
Last updated: October 17, 2026
What the numbers show
December. Asking rents in Minneapolis usually run 1.1% below trend in December and 1% above it in July, about $37 a month apart at today's median. Based on 11 years of data.
Rent in Minneapolis is at its highest level since Zillow's records here began in January 2015.
Rent in Minneapolis changed +3.1% over the year to September 2026. Across the 53 Minnesota cities Zillow tracks, the typical change was +3.4%.
From 2019 to 2024, rent in Minneapolis rose 9.3% while median household income rose 29.2% ($62,583 to $80,846). Income kept ahead of rent.
Rent in Minneapolis is 15.1% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.
Rent has risen 26 months in a row, and rose in 12 of the last 12 months.
30% of the median household income ($80,846) is $2,021 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($1,768); a 3-bedroom is $2,358.
The priciest of 19 ZIP codes in Minneapolis, 55410 ($2,352/mo), costs 1.7 times the cheapest, 55405 ($1,357/mo).
Crystal, 6 miles away, rents for 21% less ($1,385/mo), about $4,300 a year in savings.
From Zillow's monthly rent index (ZORI) for Minneapolis. The seasonal pattern compares Zillow’s seasonally adjusted and unadjusted series. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
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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.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Minneapolis, MN has changed in 5 years
Compared with 2021, rent in Minneapolis, MN has increased by $267 per month, settling near $1,747 after starting the period at $1,480. On the earnings side, the typical household in Minneapolis, MN now reports about $80,846, up from $70,099 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.
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Can you afford rent in Minneapolis on your salary?
At $1,747/mo, how Minneapolis rent compares to typical pay (30% rule).
Minneapolis rent by bedroom count
Median rent for each apartment size in Minneapolis. Click any size for full breakdown.
Tips for renters in Minneapolis
Last updated: October 17, 2026
The median rent in Minneapolis is $1,747/mo as of October 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 26% of local median household income ($80,846/yr), Minneapolis ranks as affordable compared to the national benchmark of 30%. Rents have increased 3.1% over the past year.
Frequently asked questions
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At $1,747/mo, rent takes ~26% of Minneapolis's median household income ($80,846/yr). The standard benchmark is 30%.
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