ZIP 55108
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Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).
12-month history
Last updated: October 17, 2026
What the numbers show
January. Asking rents in ZIP 55108 usually run 1.7% below trend in January and 1% above it in September, about $41 a month apart at today's median. Based on 5 years of data.
Rent in ZIP 55108 is at its highest level since Zillow's records here began in February 2021.
Rent in ZIP 55108 changed +3.6% over the year to September 2026. Across the 102 Minnesota ZIP codes Zillow tracks, the typical change was +3.4%.
Rent has risen 2 months in a row, and rose in 7 of the last 12 months.
30% of the median household income ($86,308) is $2,158 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($1,730); a 3-bedroom is $2,290.
ZIP 55130, 5 miles away, rents for 19% less ($1,225/mo), about $3,400 a year in savings.
From Zillow's monthly rent index (ZORI) for ZIP 55108. 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.
Who lives here
ZIP 55108 (Falcon Heights, MN) is roughly split between renters and owners, skews toward younger working-age adults, 69.4% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How ZIP 55108 in Falcon Heights, MN has changed in 5 years
Across the past five years, the going rent in ZIP 55108 in Falcon Heights, MN has shifted from $1,236 to $1,512, up 22.3% since 2021. Census figures show median household income at $86,308 today, compared with $78,708 five years earlier. Because rent grew faster than wages over the same span, the affordability picture has tightened relative to 2021. The renter share has risen from 45.3% to 49.1%, with owner-occupied housing accounting for the remainder. The combined trend lines point to a market that has changed measurably from where it stood in early 2021.
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Tips for renters in ZIP 55108
Last updated: October 17, 2026
ZIP code 55108 covers Falcon Heights, MN. The median rent here is $1,512/mo as of October 2026. A 1-bedroom rents for a median of $1,420/mo. A 2-bedroom rents for a median of $1,730/mo.
At 21% of local median household income ($86,308/yr), ZIP 55108 ranks as affordable compared to the national benchmark of 30%. Rents have increased 3.6% over the past year.
Frequently asked questions
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How does ZIP 55108 compare to other ZIPs in Minnesota?
At $1,512/mo, rent takes ~21% of ZIP 55108's median household income ($86,308/yr). The standard benchmark is 30%.
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