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

As of July 2026, the median monthly rent in Shakopee, MN is $1,788. This figure is based on aggregated data from public sources and community-submitted rents.

Is Shakopee cheaper than other Minnesota cities?

Shakopee falls in the middle range for Minnesota, ranking #29 out of 67 cities at $1,788/mo.

When was Shakopee rent data last updated?

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

City Report · MN

Shakopee

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

Pop. 46,012·29th most expensive in Minnesota·Shakopee rents are up 11.6% over the past year

Median rent (all units)

$1,788/mo

Year-over-Year

+11.6%

Month-over-Month

+2.8%

vs US Median

-$177

Rising (Monthly)

Be the first to discuss Shakopee rents ↓

Most AffordableMost Expensive

Shakopee · $1,788

More affordable than 55% of US cities · National median $1,965/mo

Rent Reality Score

45/100

Fairly priced

OverheatedFairGreat value

Rents are 3% above what Shakopee's 10-year trend predicts — running hotter than its own history.

Actual rent

$1,788/mo

Expected by trend

$1,740/mo

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

Medians by bedroom

Rent by unit size

Studio

$1,310

1 BR

$1,480

2 BR

$1,810

3 BR

$2,410

4 BR+

$2,700

Research median

$1,810/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

$21,456/yr

At $1,788/mo median

Rent Market Meter

Strong Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are up 11.6% year-over-year. Expect competition, and move quickly to lock in terms.

Based on rent-price momentum (+11.6% YoY, +2.8% MoM), not inventory.

Rent check

Is your rent fair?

Compare your rent to the local median.

Demographics

Who lives here

Shakopee, MN is majority owner-occupied, has a large share of families with children, has a median income above the national average, 40.4% of residents hold a bachelor's degree or higher.

Population

46,012

Median income

$107,223

Median age

36.6

Renters

25.2%

Age distribution

25.8%

21.8%

32.3%

Under 1825.8%

18–3421.8%

35–5432.3%

55–649.8%

65+10.4%

Gender

49.2%

50.8%

Male49.2%

Female50.8%

Race & ethnicity

65.4%

12.3%

White65.4%

Black10.2%

Hispanic8.5%

Asian12.3%

Other3.6%

Education (25+)

23%

28.1%

40.4%

No HS diploma8.6%

HS diploma23%

Some college28.1%

Bachelor's+40.4%

Housing tenure

74.8%

25.2%

Owner74.8%

Renter25.2%

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

2021 vs 2026

How Shakopee, MN has changed in 5 years

Rent

$1,356 → $1,788

up 31.9%

Income

$96,473 → $107,223

up 11.1%

Population

43,396 → 46,012

up 6.0%

Renter share

26% → 25.2%

-0.8 pts

Bachelor's+

38.1% → 40.4%

+2.3 pts

Median age

34.7 → 36.6

+1.9 yrs

Across the past five years, the going rent in Shakopee, MN has shifted from $1,356 to $1,788, up 31.9% since 2021. Local incomes tracked alongside that move, going from a median of $96,473 in 2021 to $107,223 more recently. Because rent grew faster than wages over the same span, the affordability picture has tightened relative to 2021. Census counts show Shakopee, MN adding about 2,616 residents over the five-year window, up 6.0% on net. Bachelor's-degree-or-higher attainment moved from 38.1% to 40.4% across the same window. These shifts give renters and would-be renters a longer baseline for sizing up today's listings against the Shakopee, MN market of 2021.

Community

Discussions about Shakopee

No discussions yet. Start the conversation.

View Shakopee rent history (2015–2026) →

Salary vs rent

Can you afford rent in Shakopee on your salary?

At $1,788/mo, how Shakopee rent compares to typical pay (30% rule).

Registered Nurse

Avg $98,259/yr · Rent = 21.8% income

affordable

Elementary School Teacher

Avg $69,763/yr · Rent = 30.8% income

stretched

Police Officer

Avg $80,361/yr · Rent = 26.7% income

affordable

Software Developer

Avg $143,634/yr · Rent = 14.9% income

very comfortable

Lawyer

Avg $183,529/yr · Rent = 11.7% income

very comfortable

Firefighter

Avg $65,322/yr · Rent = 32.8% income

stretched

Truck Driver

Avg $58,978/yr · Rent = 36.4% income

stretched

Electrician

Avg $72,696/yr · Rent = 29.5% income

affordable

By apartment size

Shakopee rent by bedroom count

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

Local insights

Tips for renters in Shakopee

About renting in Shakopee, MN

Last updated: July 20, 2026

The median rent in Shakopee is $1,788/mo as of July 2026. A studio apartment averages $1,310/mo while a 2-bedroom runs $1,810/mo. One-bedroom apartments average $1,480/mo and 3-bedroom units go for $2,410/mo.

At 20% of local median household income ($107,223/yr), Shakopee ranks as affordable compared to the national benchmark of 30%. Rents have increased 11.6% over the past year.

FAQ

Frequently asked questions

Is Shakopee an affordable city for renters?

Shakopee is considered very affordable for renters. At $1,788/mo, rent takes approximately 20% of the local median household income ($107,223/yr). The standard benchmark is 30%. Shakopee falls comfortably within that range.

How much income do you need to rent in Shakopee?

To keep rent at or below 30% of gross income, you would need to earn at least $72,000/year (~$35/hour full-time) to afford the median rent of $1,788/mo in Shakopee. The local median household income is $107,223/yr, meaning the typical Shakopee household meets that threshold.

Is rent going up or down in Shakopee?

Rent in Shakopee has increased 11.6% over the past year as of July 2026, putting upward pressure on renter budgets.

How does Shakopee rent compare to other cities in Minnesota?

Shakopee is middle-of-the-pack for Minnesota for rent, ranking #29 out of 67 tracked cities at $1,788/mo.

Which nearby cities are cheaper to rent in than Shakopee?

Eden Prairie is nearby and more affordable at $1,772/mo, which is $16 less than Shakopee.

What percentage of Shakopee residents rent vs. own?

According to Census data, approximately 25.2% of Shakopee households are renters, while 74.8% are owner-occupied. Shakopee leans toward homeownership, which can mean a smaller rental inventory.

How does Shakopee rent compare to the national average?

Shakopee's median rent of $1,788/mo is $177 (9%) below the US national median of $1,965/mo. Within Minnesota, it ranks #29 out of 67 tracked cities.

Income Affordability

20%

VERY AFFORDABLE

At $1,788/mo, rent takes ~20% of Shakopee's median household income ($107,223/yr). The standard benchmark is 30%.

Shakopee 20%Benchmark 30%

State income tax5.35–9.85%

Run the Shakopee affordability calculator →

Nearby cities