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ZIP Code · MN

ZIP 55016

Pop. 40,695·Washington County·31st most expensive ZIP in Minnesota
Median rent (all units)
$1,916/mo
Year-over-Year
+4.0%
Month-over-Month
-2.9%
vs US Median
-$49
Falling (Monthly)
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Most AffordableMost Expensive
ZIP 55016 · $1,916
More expensive than 56% of US ZIP codes · National median $1,965/mo
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Medians by bedroom

Rent by unit size

Studio
$1,530
1 BR
$1,730
2 BR
$2,100
3 BR
$2,780
4 BR+
$3,110
Research median
$2,100/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
$22,992/yr
At $1,916/mo median
Location
StateMN
CountyWashington County
Rent Market Meter
Balanced Market
Renter's MarketBalancedLandlord's Market
Rents are roughly steady, with neither renters nor landlords holding a strong edge right now.
Based on rent-price momentum (+4.0% YoY, -2.9% MoM), not inventory.
Demographics

Who lives here

ZIP 55016 (Cottage Grove, MN) is majority owner-occupied, has a large share of families with children, has a median income above the national average, 40.8% of residents hold a bachelor's degree or higher.

Population
40,695
Median income
$120,715
Median age
36.4
Renters
11.8%
Age distribution
25.4%
21.8%
27.5%
13.9%
Under 1825.4%
18–3421.8%
35–5427.5%
55–6411.4%
65+13.9%
Gender
49.5%
50.5%
Male49.5%
Female50.5%
Race & ethnicity
74.2%
White74.2%
Black6.6%
Hispanic7.7%
Asian7.4%
Other4.1%
Education (25+)
23.5%
30.7%
40.8%
No HS diploma4.9%
HS diploma23.5%
Some college30.7%
Bachelor's+40.8%
Housing tenure
88.2%
Owner88.2%
Renter11.8%

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

2021 vs 2026

How ZIP 55016 in Cottage Grove, MN has changed in 5 years

Income
$108,159 → $120,715
up 11.6%
Population
38,162 → 40,695
up 6.6%
Renter share
12% → 11.8%
-0.2 pts
Bachelor's+
39.4% → 40.8%
+1.4 pts

Local incomes tracked alongside that move, going from a median of $108,159 in 2021 to $120,715 more recently. Census counts show ZIP 55016 in Cottage Grove, MN adding about 2,533 residents over the five-year window, up 6.6% on net.

Community

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Local insights

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About renting in ZIP 55016

Last updated: July 20, 2026

ZIP code 55016 covers Cottage Grove, MN. The median rent here is $1,916/mo as of July 2026. A 1-bedroom rents for a median of $1,730/mo. A 2-bedroom rents for a median of $2,100/mo.

At 19% of local median household income ($120,715/yr), ZIP 55016 ranks as affordable compared to the national benchmark of 30%. Rents have increased 4.0% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 55016?

As of July 20, 2026, the median monthly rent in ZIP 55016 (Cottage Grove, MN) is $1,916. This is based on aggregated data from public sources and community submissions.

How does ZIP 55016 rent compare to the US average?

ZIP 55016's median rent of $1,916/mo is $49 (2%) below the US national median of $1,965/mo.

How does ZIP 55016 compare to other ZIPs in Minnesota?

ZIP 55016 is one of the pricier ZIP codes in Minnesota, ranking #31 out of 123 ZIPs tracked at $1,916/mo.

How much income do you need to rent in ZIP 55016?

To keep rent at or below 30% of gross income, you would need to earn at least $77,000/year (~$37/hour full-time) to afford the median rent of $1,916/mo in ZIP 55016. The local median household income is $120,715/yr, meaning the typical household meets that threshold.

Is rent going up or down in ZIP 55016?

Rent in ZIP 55016 has increased 4.0% over the past year as of July 20, 2026, putting upward pressure on renter budgets.

Is ZIP 55016 an affordable place to rent?

ZIP 55016 is considered very affordable for renters. At $1,916/mo, rent takes approximately 19% of the local median household income ($120,715/yr). The standard benchmark is 30%. ZIP 55016 falls comfortably within that range.

What percentage of ZIP 55016 residents rent vs. own?

According to Census data, approximately 11.8% of ZIP 55016 households are renters, while 88.2% are owner-occupied. ZIP 55016 leans toward homeownership, which can mean a smaller rental inventory.

How does ZIP 55016 compare to the rest of Cottage Grove?

ZIP 55016 sits right at the Cottage Grove citywide median of $1,916/mo.

When was rent data for ZIP 55016 last updated?

Rent data for ZIP 55016 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
19%
VERY AFFORDABLE

At $1,916/mo, rent takes ~19% of ZIP 55016's median household income ($120,715/yr). The standard benchmark is 30%.

ZIP 55016 19%Benchmark 30%
State income tax5.35–9.85%
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Schools nearby

Public schools near ZIP 55016 (Cottage Grove, MN)

Recent submissions

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