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ZIP Code · MN

ZIP 55306

Pop. 16,830·Dakota County·103rd most expensive ZIP in Minnesota
Median rent (all units)
$1,403/mo
Year-over-Year
-12.5%
Month-over-Month
-4.2%
vs US Median
-$562
Falling (Monthly)
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Most AffordableMost Expensive
ZIP 55306 · $1,403
More affordable than 80% of US ZIP codes · National median $1,965/mo
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Medians by bedroom

Rent by unit size

Studio
$1,400
1 BR
$1,580
2 BR
$1,920
3 BR
$2,540
4 BR+
$2,840
Research median
$1,920/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
$16,836/yr
At $1,403/mo median
Location
StateMN
CountyDakota County
Rent Market Meter
Strong Renter's Market
Renter's MarketBalancedLandlord's Market
Rents are down 12.5% year-over-year. Push hard on price, concessions, and lease terms.
Based on rent-price momentum (-12.5% YoY, -4.2% MoM), not inventory.
Demographics

Who lives here

ZIP 55306 (Burnsville, MN) is majority owner-occupied, has a median income above the national average, 42.2% of residents hold a bachelor's degree or higher.

Population
16,830
Median income
$100,515
Median age
36.2
Renters
33.5%
Age distribution
22.3%
24.9%
22.5%
18.3%
Under 1822.3%
18–3424.9%
35–5422.5%
55–6412%
65+18.3%
Gender
50.9%
49.1%
Male50.9%
Female49.1%
Race & ethnicity
66.6%
17.7%
White66.6%
Black8.9%
Hispanic17.7%
Asian3.4%
Other3.4%
Education (25+)
18.2%
29.2%
42.2%
No HS diploma10.4%
HS diploma18.2%
Some college29.2%
Bachelor's+42.2%
Housing tenure
66.5%
33.5%
Owner66.5%
Renter33.5%

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

2021 vs 2026

How ZIP 55306 in Burnsville, MN has changed in 5 years

Income
$81,818 → $100,515
up 22.9%
Population
16,116 → 16,830
up 4.4%
Renter share
31.9% → 33.5%
+1.6 pts
Bachelor's+
41.3% → 42.2%
+0.9 pts
Median age
38.8 → 36.2
-2.6 yrs

On the earnings side, the typical household in ZIP 55306 in Burnsville, MN now reports about $100,515, up from $81,818 in 2021. Headcount in the area went from 16,116 to 16,830 between 2021 and 2024, a 4.4% change. About 33.5% of households rent today, against 31.9% in 2021.

Community

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Local insights

Tips for renters in ZIP 55306

About renting in ZIP 55306

Last updated: July 20, 2026

ZIP code 55306 covers Burnsville, MN. The median rent here is $1,403/mo as of July 2026. A 1-bedroom rents for a median of $1,580/mo. A 2-bedroom rents for a median of $1,920/mo.

At 17% of local median household income ($100,515/yr), ZIP 55306 ranks as affordable compared to the national benchmark of 30%. Rents have decreased 12.5% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 55306?

As of July 20, 2026, the median monthly rent in ZIP 55306 (Burnsville, MN) is $1,403. This is based on aggregated data from public sources and community submissions.

How does ZIP 55306 rent compare to the US average?

ZIP 55306's median rent of $1,403/mo is $562 (29%) below the US national median of $1,965/mo.

How does ZIP 55306 compare to other ZIPs in Minnesota?

ZIP 55306 is among the more affordable ZIP codes in Minnesota, ranking #103 out of 123 ZIPs at $1,403/mo.

How much income do you need to rent in ZIP 55306?

To keep rent at or below 30% of gross income, you would need to earn at least $56,000/year (~$27/hour full-time) to afford the median rent of $1,403/mo in ZIP 55306. The local median household income is $100,515/yr, meaning the typical household meets that threshold.

Is rent going up or down in ZIP 55306?

Rent in ZIP 55306 has decreased 12.5% over the past year as of July 20, 2026, offering some relief compared to 12 months ago.

Is ZIP 55306 an affordable place to rent?

ZIP 55306 is considered very affordable for renters. At $1,403/mo, rent takes approximately 17% of the local median household income ($100,515/yr). The standard benchmark is 30%. ZIP 55306 falls comfortably within that range.

What percentage of ZIP 55306 residents rent vs. own?

According to Census data, approximately 33.5% of ZIP 55306 households are renters, while 66.5% are owner-occupied. ZIP 55306 leans toward homeownership, which can mean a smaller rental inventory.

How does ZIP 55306 compare to the rest of Burnsville?

ZIP 55306 is more affordable than Burnsville overall. At $1,403/mo, it's $83 below the Burnsville citywide median of $1,486/mo.

When was rent data for ZIP 55306 last updated?

Rent data for ZIP 55306 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
17%
VERY AFFORDABLE

At $1,403/mo, rent takes ~17% of ZIP 55306's median household income ($100,515/yr). The standard benchmark is 30%.

ZIP 55306 17%Benchmark 30%
State income tax5.35–9.85%
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Schools nearby

Public schools near ZIP 55306 (Burnsville, MN)

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