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ZIP Code · MN

ZIP 55305

Pop. 21,068·Hennepin County·30th most expensive ZIP in Minnesota
Median rent (all units)
$1,919/mo
Year-over-Year
+1.3%
Month-over-Month
-1.1%
vs US Median
-$46
Falling (Monthly)
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Most AffordableMost Expensive
ZIP 55305 · $1,919
More expensive than 56% of US ZIP codes · National median $1,965/mo
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Medians by bedroom

Rent by unit size

Studio
$1,540
1 BR
$1,740
2 BR
$2,120
3 BR
$2,810
4 BR+
$3,140
Research median
$2,120/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
$23,028/yr
At $1,919/mo median
Location
StateMN
CountyHennepin 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 (+1.3% YoY, -1.1% MoM), not inventory.
Demographics

Who lives here

ZIP 55305 (Minnetonka, MN) is majority owner-occupied, has a large retiree population, has a median income above the national average, 63.9% of residents hold a bachelor's degree or higher.

Population
21,068
Median income
$104,914
Median age
40.5
Renters
42.5%
Age distribution
19%
23.8%
20.8%
13%
23.4%
Under 1819%
18–3423.8%
35–5420.8%
55–6413%
65+23.4%
Gender
48.1%
51.9%
Male48.1%
Female51.9%
Race & ethnicity
77.5%
White77.5%
Black5.9%
Hispanic5.1%
Asian7.8%
Other3.7%
Education (25+)
22.2%
63.9%
No HS diploma2.7%
HS diploma11.2%
Some college22.2%
Bachelor's+63.9%
Housing tenure
57.5%
42.5%
Owner57.5%
Renter42.5%

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

2021 vs 2026

How ZIP 55305 in Minnetonka, MN has changed in 5 years

Rent
$1,618 → $1,919
up 18.6%
Income
$95,701 → $104,914
up 9.6%
Population
21,687 → 21,068
down 2.9%
Renter share
41.4% → 42.5%
+1.1 pts
Bachelor's+
58.9% → 63.9%
+5.0 pts
Median age
39.7 → 40.5
+0.8 yrs

Across the past five years, the going rent in ZIP 55305 in Minnetonka, MN has shifted from $1,618 to $1,919, up 18.6% since 2021. Median household income climbed from $95,701 to $104,914 between 2021 and 2024, a 9.6% shift. Because rent grew faster than wages over the same span, the affordability picture has tightened relative to 2021. Census counts show ZIP 55305 in Minnetonka, MN losing about 619 residents over the five-year window, down 2.9% on net. Bachelor's-degree-or-higher attainment moved from 58.9% to 63.9% across the same window. Taken together, the five-year picture in ZIP 55305 in Minnetonka, 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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Local insights

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About renting in ZIP 55305

Last updated: July 20, 2026

ZIP code 55305 covers Minnetonka, MN. The median rent here is $1,919/mo as of July 2026. A 1-bedroom rents for a median of $1,740/mo. A 2-bedroom rents for a median of $2,120/mo.

At 22% of local median household income ($104,914/yr), ZIP 55305 ranks as affordable compared to the national benchmark of 30%. Rents have increased 1.3% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 55305?

As of July 20, 2026, the median monthly rent in ZIP 55305 (Minnetonka, MN) is $1,919. This is based on aggregated data from public sources and community submissions.

How does ZIP 55305 rent compare to the US average?

ZIP 55305's median rent of $1,919/mo is $46 (2%) below the US national median of $1,965/mo.

How does ZIP 55305 compare to other ZIPs in Minnesota?

ZIP 55305 is one of the pricier ZIP codes in Minnesota, ranking #30 out of 123 ZIPs tracked at $1,919/mo.

How much income do you need to rent in ZIP 55305?

To keep rent at or below 30% of gross income, you would need to earn at least $77,000/year (~$37/hour full-time) to afford the median rent of $1,919/mo in ZIP 55305. The local median household income is $104,914/yr, meaning the typical household meets that threshold.

Is rent going up or down in ZIP 55305?

Rent in ZIP 55305 has increased 1.3% over the past year as of July 20, 2026, putting upward pressure on renter budgets.

Is ZIP 55305 an affordable place to rent?

ZIP 55305 is considered very affordable for renters. At $1,919/mo, rent takes approximately 22% of the local median household income ($104,914/yr). The standard benchmark is 30%. ZIP 55305 falls comfortably within that range.

What percentage of ZIP 55305 residents rent vs. own?

According to Census data, approximately 42.5% of ZIP 55305 households are renters, while 57.5% are owner-occupied. ZIP 55305 leans toward homeownership, which can mean a smaller rental inventory.

How does ZIP 55305 compare to the rest of Minnetonka?

ZIP 55305 is pricier than Minnetonka as a whole. At $1,919/mo, it's $62 above the Minnetonka citywide median of $1,857/mo.

When was rent data for ZIP 55305 last updated?

Rent data for ZIP 55305 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
22%
VERY AFFORDABLE

At $1,919/mo, rent takes ~22% of ZIP 55305's median household income ($104,914/yr). The standard benchmark is 30%.

ZIP 55305 22%Benchmark 30%
State income tax5.35–9.85%
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Schools nearby

Public schools near ZIP 55305 (Minnetonka, MN)

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