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City Report · MN

Waite Park

Pop. 8,399·61st most expensive in Minnesota·One of the most affordable rental markets in the US
Median rent (all units)
$1,267/mo
Year-over-Year
Stable
Month-over-Month
+2.5%
vs US Median
-$698
Rising (Monthly)
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Most AffordableMost Expensive
Waite Park · $1,267
More affordable than 89% of US cities · National median $1,965/mo
Affordability
26% of income
AFFORDABLE
0%30% benchmark60%+

At $1,267/mo, rent takes about 26% of the local median household income, comfortably within the 30% benchmark.

Income to afford
$51,000/yr
Local median income
$59,285/yr
Based on the 30%-of-income rule using Waite Park's median rent and household income. See the full affordability breakdown →
Medians by bedroom

Rent by unit size

Studio
$890
1 BR
$920
2 BR
$1,200
3 BR
$1,570
4 BR+
$1,870
Research median
$1,200/mo

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

Rent trends

12-month history

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Last updated: July 20, 2026

Annual cost
$15,204/yr
At $1,267/mo median
Rent Market Meter
Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are climbing (0.0% YoY), so leverage tilts toward landlords. Act sooner rather than later.
Based on rent-price momentum (+0.0% YoY, +2.5% MoM), not inventory.
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Demographics

Who lives here

Waite Park, MN is roughly split between renters and owners, has a large share of families with children, has a median income below the national average, 20.1% of residents hold a bachelor's degree or higher.

Population
8,399
Median income
$59,285
Median age
38.1
Renters
48.7%
Age distribution
26.2%
20.3%
22.5%
12.9%
18.1%
Under 1826.2%
18–3420.3%
35–5422.5%
55–6412.9%
65+18.1%
Gender
45.5%
54.5%
Male45.5%
Female54.5%
Race & ethnicity
52%
35.7%
White52%
Black35.7%
Hispanic9.1%
Asian1.6%
Other1.6%
Education (25+)
17.6%
30%
32.3%
20.1%
No HS diploma17.6%
HS diploma30%
Some college32.3%
Bachelor's+20.1%
Housing tenure
51.3%
48.7%
Owner51.3%
Renter48.7%

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

2021 vs 2026

How Waite Park, MN has changed in 5 years

Income
$47,018 → $59,285
up 26.1%
Population
8,245 → 8,399
up 1.9%
Renter share
56.8% → 48.7%
-8.1 pts
Bachelor's+
15% → 20.1%
+5.1 pts
Median age
37.1 → 38.1
+1.0 yrs

On the earnings side, the typical household in Waite Park, MN now reports about $59,285, up from $47,018 in 2021. Census counts show Waite Park, MN adding about 154 residents over the five-year window, up 1.9% on net. The renter share has eased from 56.8% to 48.7%, with owner-occupied housing accounting for the remainder. Bachelor's-degree-or-higher attainment moved from 15% to 20.1% across the same window.

Community

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View Waite Park rent history (2015–2026) →
Salary vs rent

Can you afford rent in Waite Park on your salary?

At $1,267/mo, how Waite Park rent compares to typical pay (30% rule).

By apartment size

Waite Park rent by bedroom count

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

Local insights

Tips for renters in Waite Park

About renting in Waite Park, MN

Last updated: July 20, 2026

The median rent in Waite Park is $1,267/mo as of July 2026. A studio apartment averages $890/mo while a 2-bedroom runs $1,200/mo. One-bedroom apartments average $920/mo and 3-bedroom units go for $1,570/mo.

At 26% of local median household income ($59,285/yr), Waite Park ranks as affordable compared to the national benchmark of 30%. Rent prices have stayed steady over the past year.

FAQ

Frequently asked questions

Is Waite Park an affordable city for renters?

Waite Park is considered affordable for renters. At $1,267/mo, rent takes approximately 26% of the local median household income ($59,285/yr). The standard benchmark is 30%. Waite Park falls comfortably within that range.

How much income do you need to rent in Waite Park?

To keep rent at or below 30% of gross income, you would need to earn at least $51,000/year (~$25/hour full-time) to afford the median rent of $1,267/mo in Waite Park. The local median household income is $59,285/yr, meaning the typical Waite Park household meets that threshold.

Is rent going up or down in Waite Park?

Rent in Waite Park has been relatively stable over the past year, with a 0.0% change year over year as of July 2026.

How does Waite Park rent compare to other cities in Minnesota?

Waite Park is one of the more affordable cities in Minnesota for rent, ranking #61 out of 67 tracked cities at $1,267/mo.

Which nearby cities are cheaper to rent in than Waite Park?

Saint Cloud is nearby and more affordable at $1,232/mo, which is $35 less than Waite Park.

What percentage of Waite Park residents rent vs. own?

According to Census data, approximately 48.7% of Waite Park households are renters, while 51.3% are owner-occupied. Waite Park leans toward homeownership, which can mean a smaller rental inventory.

How does Waite Park rent compare to the national average?

Waite Park's median rent of $1,267/mo is $698 (36%) below the US national median of $1,965/mo. Within Minnesota, it ranks #61 out of 67 tracked cities.
Income Affordability
26%
AFFORDABLE

At $1,267/mo, rent takes ~26% of Waite Park's median household income ($59,285/yr). The standard benchmark is 30%.

Waite Park 26%Benchmark 30%
State income tax5.35–9.85%
Run the Waite Park affordability calculator →
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Neighborhoods

Estimated from ZIP-level data

Schools nearby

Public schools near Waite Park, MN

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