ZIP Code · MN

ZIP 55316

Part of Champlin, MN

Pop. 23,294·Hennepin County·35th most expensive ZIP in Minnesota

Median rent (all units)

$1,865/mo

Year-over-Year

Stable

Month-over-Month

+1.4%

vs US Median

-$67

Reported rents

Rising (Monthly)

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Most AffordableMost Expensive

ZIP 55316 · $1,865

More expensive than 53% of US ZIP codes · National median $1,932/mo

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Compare your rent to the local median.

Medians by bedroom

Rent by unit size

Studio

$1,390

1 BR

$1,570

2 BR

$1,910

3 BR

$2,530

4 BR+

$2,830

Research median

$1,910/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

What a typical income covers

30% of the median household income ($116,102) is $2,903 a month. That covers HUD's Fair Market Rent for up to a 4-bedroom ($2,830).

Cheaper nearby

ZIP 55433, 4 miles away, rents for 11% less ($1,656/mo), about $2,500 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 55316. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$22,380/yr

At $1,865/mo median

Location

CityChamplin

StateMN

CountyHennepin County

Rent Market Meter

Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are climbing (0.0% YoY), so leverage tilts toward landlords. Act sooner rather than later.

Based on rent-price momentum (+0.0% YoY, +1.4% MoM), not inventory.

Demographics

Who lives here

ZIP 55316 (Champlin, MN) is majority owner-occupied, has a median income above the national average, 36.9% of residents hold a bachelor's degree or higher.

Population

23,294

Median income

$116,102

Median age

41.6

Renters

11.9%

Age distribution

24.1%

15.5%

26.7%

18.6%

15.1%

Under 1824.1%

18–3415.5%

35–5426.7%

55–6418.6%

65+15.1%

Gender

48.3%

51.7%

Male48.3%

Female51.7%

Race & ethnicity

75.8%

White75.8%

Black9.7%

Hispanic4.6%

Asian4.3%

Other5.7%

Education (25+)

23.5%

36.8%

36.9%

No HS diploma2.7%

HS diploma23.5%

Some college36.8%

Bachelor's+36.9%

Housing tenure

88.1%

Owner88.1%

Renter11.9%

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

2021 vs 2026

How ZIP 55316 in Champlin, MN has changed in 5 years

Income

$104,200 → $116,102

up 11.4%

Population

23,877 → 23,294

down 2.4%

Renter share

10.1% → 11.9%

+1.8 pts

Bachelor's+

35.2% → 36.9%

+1.7 pts

Median age

41 → 41.6

+0.6 yrs

Local incomes tracked alongside that move, going from a median of $104,200 in 2021 to $116,102 more recently. Census counts show ZIP 55316 in Champlin, MN losing about 583 residents over the five-year window, down 2.4% on net. The renter share has risen from 10.1% to 11.9%, with owner-occupied housing accounting for the remainder.

Community

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Local insights

Tips for renters in ZIP 55316

About renting in ZIP 55316

Last updated: October 17, 2026

ZIP code 55316 covers Champlin, MN. The median rent here is $1,865/mo as of October 2026. A 1-bedroom rents for a median of $1,570/mo. A 2-bedroom rents for a median of $1,910/mo.

At 19% of local median household income ($116,102/yr), ZIP 55316 ranks as affordable compared to the national benchmark of 30%. Rent prices have stayed steady over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 55316?

To keep rent at or below 30% of gross income, you would need to earn at least $75,000/year (about $36/hour full-time) to afford the median rent of $1,865/mo in ZIP 55316. The local median household income is $116,102/yr, so the typical household meets that bar.