ZIP 55124
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12-month history
Last updated: October 17, 2026
What the numbers show
December. Asking rents in ZIP 55124 usually run 0.9% below trend in December and 0.7% above it in June, about $32 a month apart at today's median. Based on 8 years of data.
Rent in ZIP 55124 is 1.5% below its high of $2,016 in April 2026, at $1,985 as of September 2026.
Rent in ZIP 55124 changed -0.7% over the year to September 2026. Across the 102 Minnesota ZIP codes Zillow tracks, the typical change was +3.4%.
From 2019 to 2024, rent in ZIP 55124 rose 23.1% while median household income rose 9.5% ($89,251 to $97,727). Rent outpaced income.
Rent in ZIP 55124 is 22.6% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.
Rent rose in 5 of the last 12 months.
30% of the median household income ($97,727) is $2,443 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($1,960); a 3-bedroom is $2,590.
ZIP 55122, 5 miles away, rents for 15% less ($1,694/mo), about $3,500 a year in savings.
From Zillow's monthly rent index (ZORI) for ZIP 55124. 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 55124 (Apple Valley, MN) is majority owner-occupied, has a median income above the national average, 45.9% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How ZIP 55124 in Apple Valley, MN has changed in 5 years
Across the past five years, the going rent in ZIP 55124 in Apple Valley, MN has shifted from $1,678 to $1,985, up 18.3% since 2021. Median household income climbed from $91,936 to $97,727 between 2021 and 2024, a 6.3% shift. Because rent grew faster than wages over the same span, the affordability picture has tightened relative to 2021. The renter share has risen from 24.2% to 26.5%, with owner-occupied housing accounting for the remainder. Taken together, the five-year picture in ZIP 55124 in Apple Valley, MN reflects how housing costs and the people paying them have evolved through a stretch that included a pandemic, a hot rental market, and a recent cooling phase.
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Tips for renters in ZIP 55124
Last updated: October 17, 2026
ZIP code 55124 covers Apple Valley, MN. The median rent here is $1,985/mo as of October 2026. A 1-bedroom rents for a median of $1,610/mo. A 2-bedroom rents for a median of $1,960/mo.
At 24% of local median household income ($97,727/yr), ZIP 55124 ranks as affordable compared to the national benchmark of 30%. Rents have decreased 0.7% over the past year.
Frequently asked questions
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How does ZIP 55124 compare to the rest of Apple Valley?
At $1,985/mo, rent takes ~24% of ZIP 55124's median household income ($97,727/yr). The standard benchmark is 30%.
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