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ZIP Code · MN

ZIP 55108

Pop. 15,224·Ramsey County·79th most expensive ZIP in Minnesota
Median rent (all units)
$1,536/mo
Year-over-Year
+2.5%
Month-over-Month
+1.5%
vs US Median
-$429
Rising (Monthly)
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Most AffordableMost Expensive
ZIP 55108 · $1,536
More affordable than 71% of US ZIP codes · National median $1,965/mo
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Medians by bedroom

Rent by unit size

Studio
$1,260
1 BR
$1,420
2 BR
$1,730
3 BR
$2,290
4 BR+
$2,560
Research median
$1,730/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
$18,432/yr
At $1,536/mo median
Location
StateMN
CountyRamsey County
Rent Market Meter
Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are climbing (2.5% YoY), so leverage tilts toward landlords. Act sooner rather than later.
Based on rent-price momentum (+2.5% YoY, +1.5% MoM), not inventory.
Demographics

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.

Population
15,224
Median income
$86,308
Median age
34.1
Renters
49.1%
Age distribution
16.3%
35.3%
21.5%
16.4%
Under 1816.3%
18–3435.3%
35–5421.5%
55–6410.4%
65+16.4%
Gender
49.1%
50.9%
Male49.1%
Female50.9%
Race & ethnicity
74.7%
White74.7%
Black8.9%
Hispanic4%
Asian7.2%
Other5.2%
Education (25+)
17.6%
69.4%
No HS diploma1.8%
HS diploma11.2%
Some college17.6%
Bachelor's+69.4%
Housing tenure
50.9%
49.1%
Owner50.9%
Renter49.1%

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

2021 vs 2026

How ZIP 55108 in Falcon Heights, MN has changed in 5 years

Rent
$1,277 → $1,536
up 20.3%
Income
$78,708 → $86,308
up 9.7%
Population
15,334 → 15,224
down 0.7%
Renter share
45.3% → 49.1%
+3.8 pts
Bachelor's+
69.5% → 69.4%
-0.1 pts

Across the past five years, the going rent in ZIP 55108 in Falcon Heights, MN has shifted from $1,277 to $1,536, up 20.3% 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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Local insights

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About renting in ZIP 55108

Last updated: July 20, 2026

ZIP code 55108 covers Falcon Heights, MN. The median rent here is $1,536/mo as of July 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 2.5% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 55108?

As of July 20, 2026, the median monthly rent in ZIP 55108 (Falcon Heights, MN) is $1,536. This is based on aggregated data from public sources and community submissions.

How does ZIP 55108 rent compare to the US average?

ZIP 55108's median rent of $1,536/mo is $429 (22%) below the US national median of $1,965/mo.

How does ZIP 55108 compare to other ZIPs in Minnesota?

ZIP 55108 falls in the middle range for Minnesota, ranking #79 out of 123 ZIPs at $1,536/mo.

How much income do you need to rent in ZIP 55108?

To keep rent at or below 30% of gross income, you would need to earn at least $61,000/year (~$29/hour full-time) to afford the median rent of $1,536/mo in ZIP 55108. The local median household income is $86,308/yr, meaning the typical household meets that threshold.

Is rent going up or down in ZIP 55108?

Rent in ZIP 55108 has increased 2.5% over the past year as of July 20, 2026, putting upward pressure on renter budgets.

Is ZIP 55108 an affordable place to rent?

ZIP 55108 is considered very affordable for renters. At $1,536/mo, rent takes approximately 21% of the local median household income ($86,308/yr). The standard benchmark is 30%. ZIP 55108 falls comfortably within that range.

What percentage of ZIP 55108 residents rent vs. own?

According to Census data, approximately 49.1% of ZIP 55108 households are renters, while 50.9% are owner-occupied. ZIP 55108 leans toward homeownership, which can mean a smaller rental inventory.

When was rent data for ZIP 55108 last updated?

Rent data for ZIP 55108 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
21%
VERY AFFORDABLE

At $1,536/mo, rent takes ~21% of ZIP 55108's median household income ($86,308/yr). The standard benchmark is 30%.

ZIP 55108 21%Benchmark 30%
State income tax5.35–9.85%
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Schools nearby

Public schools near ZIP 55108 (Falcon Heights, MN)

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