ZIP Code · MN

ZIP 55016

Part of Cottage Grove, MN

Pop. 40,695·Washington County·39th most expensive ZIP in Minnesota

Median rent (all units)

$1,827/mo

Year-over-Year

+2.3%

Month-over-Month

-0.3%

vs US Median

-$105

Reported rents

Stable (Monthly)

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Most AffordableMost Expensive

ZIP 55016 · $1,827

More expensive than 51% of US ZIP codes · National median $1,932/mo

Rent check

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Compare your rent to the local median.

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: October 17, 2026

From the history

What the numbers show

Past year vs. the rest of Minnesota

Rent in ZIP 55016 changed +2.3% over the year to September 2026. Across the 102 Minnesota ZIP codes Zillow tracks, the typical change was +3.4%.

Recent direction

Rent rose in 7 of the last 12 months.

What a typical income covers

30% of the median household income ($120,715) is $3,018 a month. That covers HUD's Fair Market Rent for up to a 3-bedroom ($2,780); a 4-bedroom is $3,110.

Cheaper nearby

ZIP 55075, 7 miles away, rents for 16% less ($1,534/mo), about $3,500 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 55016. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$21,924/yr

At $1,827/mo median

Location

CityCottage Grove

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 (+2.3% YoY, -0.3% 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: October 17, 2026

ZIP code 55016 covers Cottage Grove, MN. The median rent here is $1,827/mo as of October 2026. A 1-bedroom rents for a median of $1,730/mo. A 2-bedroom rents for a median of $2,100/mo.

At 18% of local median household income ($120,715/yr), ZIP 55016 ranks as affordable compared to the national benchmark of 30%. Rents have increased 2.3% over the past year.

FAQ

Frequently asked questions

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 $73,000/year (about $35/hour full-time) to afford the median rent of $1,827/mo in ZIP 55016. The local median household income is $120,715/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 55016?

Rent in ZIP 55016 has risen 2.3% over the past year.

How does ZIP 55016 compare to other ZIPs in Minnesota?

ZIP 55016 is one of the pricier among Minnesota ZIP codes for rent, ranking #39 of 123 at $1,827/mo. Over the year to September 2026, rent in ZIP 55016 changed +2.3%, against a typical +3.4% across the 102 Minnesota ZIP codes Zillow tracks.