Rents are right about where Richfield'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 $1,393 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
November. Asking rents in Richfield usually run 1.9% below trend in November and 1.2% above it in June, about $43 a month apart at today's median. Based on 5 years of data.
Rent in Richfield is at its highest level since Zillow's records here began in December 2020.
Rent in Richfield changed +2.6% over the year to September 2026. Across the 53 Minnesota cities Zillow tracks, the typical change was +3.4%.
Rent rose in 8 of the last 12 months.
30% of the median household income ($85,132) is $2,128 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($1,600); a 3-bedroom is $2,130.
From Zillow's monthly rent index (ZORI) for Richfield. 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
Richfield, MN is majority owner-occupied, 43.7% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Richfield, MN has changed in 5 years
Across the past five years, the going rent in Richfield, MN has shifted from $1,125 to $1,393, up 23.8% since 2021. Household income in the area moved from $74,301 to $85,132 across the same window, up 14.6% versus 2021. Because rent grew faster than wages over the same span, the affordability picture has tightened relative to 2021. Reading these numbers side by side helps frame whether current listings in Richfield, MN look reasonable against where the market sat half a decade ago.
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Can you afford rent in Richfield on your salary?
At $1,393/mo, how Richfield rent compares to typical pay (30% rule).
Richfield rent by bedroom count
Median rent for each apartment size in Richfield. Click any size for full breakdown.
Tips for renters in Richfield
Last updated: October 17, 2026
The median rent in Richfield is $1,393/mo as of October 2026. A studio apartment averages $1,160/mo while a 2-bedroom runs $1,600/mo. One-bedroom apartments average $1,310/mo and 3-bedroom units go for $2,130/mo.
At 20% of local median household income ($85,132/yr), Richfield ranks as affordable compared to the national benchmark of 30%. Rents have increased 2.6% over the past year.
Frequently asked questions
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How does Richfield rent compare to other cities in Minnesota?
At $1,393/mo, rent takes ~20% of Richfield's median household income ($85,132/yr). The standard benchmark is 30%.
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Estimated from ZIP-level data
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