ZIP Code · MN

ZIP 55116

Part of Saint Paul, MN

Pop. 25,918·Ramsey County·73rd most expensive ZIP in Minnesota

Median rent (all units)

$1,602/mo

Year-over-Year

+3.1%

Month-over-Month

+0.4%

vs US Median

-$330

Reported rents

Stable (Monthly)

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Most AffordableMost Expensive

ZIP 55116 · $1,602

More affordable than 65% of US ZIP codes · National median $1,932/mo

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Is your rent fair?

Compare your rent to the local median.

Medians by bedroom

Rent by unit size

Studio

$1,250

1 BR

$1,410

2 BR

$1,720

3 BR

$2,280

4 BR+

$2,550

Research median

$1,720/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

Compared with the peak

Rent in ZIP 55116 is at its highest level since Zillow's records here began in October 2022.

Past year vs. the rest of Minnesota

Rent in ZIP 55116 changed +3.1% over the year to September 2026. Across the 102 Minnesota ZIP codes Zillow tracks, the typical change was +3.4%.

Recent direction

Rent has risen 5 months in a row, and rose in 8 of the last 12 months.

What a typical income covers

30% of the median household income ($81,141) is $2,029 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($1,720); a 3-bedroom is $2,280.

Rank in Saint Paul

11th cheapest of 12 ZIP codes in Saint Paul.

Cheaper nearby

ZIP 55406, 3 miles away, rents for 12% less ($1,407/mo), about $2,300 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 55116. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$19,224/yr

At $1,602/mo median

Location

CitySaint Paul

StateMN

CountyRamsey County

Rent Market Meter

Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are climbing (3.1% YoY), so leverage tilts toward landlords. Act sooner rather than later.

Based on rent-price momentum (+3.1% YoY, +0.4% MoM), not inventory.

Demographics

Who lives here

ZIP 55116 (Saint Paul, MN) is roughly split between renters and owners, has a large retiree population, 61.3% of residents hold a bachelor's degree or higher.

Population

25,918

Median income

$81,141

Median age

42.3

Renters

49%

Age distribution

18.3%

21.8%

26.4%

21.6%

Under 1818.3%

18–3421.8%

35–5426.4%

55–6411.9%

65+21.6%

Gender

47.9%

52.1%

Male47.9%

Female52.1%

Race & ethnicity

72.9%

12.4%

White72.9%

Black12.4%

Hispanic5.1%

Asian4.5%

Other5.1%

Education (25+)

13.1%

21.3%

61.3%

No HS diploma4.3%

HS diploma13.1%

Some college21.3%

Bachelor's+61.3%

Housing tenure

51%

49%

Owner51%

Renter49%

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

2023 vs 2026

How ZIP 55116 in Saint Paul, MN has changed in 5 years

Rent

$1,475 → $1,602

up 8.6%

Income

$70,036 → $81,141

up 15.9%

Population

26,533 → 25,918

down 2.3%

Renter share

51.1% → 49%

-2.1 pts

Bachelor's+

58.8% → 61.3%

+2.5 pts

Median age

39.5 → 42.3

+2.8 yrs

Five years ago, renters in ZIP 55116 in Saint Paul, MN paid around $1,475 a month. That figure now sits near $1,602, up 8.6% from the 2023 baseline. Household income in the area moved from $70,036 to $81,141 across the same window, up 15.9% versus 2021. With wages climbing faster than rent over the same window, renters here have a bit more breathing room than they did five years back. Census counts show ZIP 55116 in Saint Paul, MN losing about 615 residents over the five-year window, down 2.3% on net. The renter share has eased from 51.1% to 49%, with owner-occupied housing accounting for the remainder. Bachelor's-degree-or-higher attainment moved from 58.8% to 61.3% across the same window. Reading these numbers side by side helps frame whether current listings in ZIP 55116 in Saint Paul, MN look reasonable against where the market sat half a decade ago.

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About renting in ZIP 55116

Last updated: October 17, 2026

ZIP code 55116 covers Saint Paul, MN. The median rent here is $1,602/mo as of October 2026. A 1-bedroom rents for a median of $1,410/mo. A 2-bedroom rents for a median of $1,720/mo.

At 24% of local median household income ($81,141/yr), ZIP 55116 ranks as affordable compared to the national benchmark of 30%. Rents have increased 3.1% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 55116?

To keep rent at or below 30% of gross income, you would need to earn at least $64,000/year (about $31/hour full-time) to afford the median rent of $1,602/mo in ZIP 55116. The local median household income is $81,141/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 55116?

Rent in ZIP 55116 has risen 3.1% over the past year as of September 2026. That is the highest level since Zillow's records here began in October 2022.

How does ZIP 55116 compare to other ZIPs in Minnesota?

ZIP 55116 is in the middle among Minnesota ZIP codes for rent, ranking #73 of 123 at $1,602/mo. Over the year to September 2026, rent in ZIP 55116 changed +3.1%, against a typical +3.4% across the 102 Minnesota ZIP codes Zillow tracks.