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ZIP Code · MN

ZIP 55316

Part of Champlin, MN
Pop. 23,294·Hennepin County·18th most expensive ZIP in Minnesota
Median rent (all units)
$1,990/mo
Year-over-Year
Stable
Month-over-Month
-7.4%
vs US Median
+$25
Falling (Monthly)
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Most AffordableMost Expensive
ZIP 55316 · $1,990
More expensive than 60% of US ZIP codes · National median $1,965/mo
Rent check

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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: July 20, 2026

Annual cost
$23,880/yr
At $1,990/mo median
Location
StateMN
CountyHennepin County
Rent Market Meter
Strong Renter's Market
Renter's MarketBalancedLandlord's Market
Rents are down 0.0% year-over-year. Push hard on price, concessions, and lease terms.
Based on rent-price momentum (+0.0% YoY, -7.4% 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: July 20, 2026

ZIP code 55316 covers Champlin, MN. The median rent here is $1,990/mo as of July 2026. A 1-bedroom rents for a median of $1,570/mo. A 2-bedroom rents for a median of $1,910/mo.

At 21% 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 is rent in ZIP code 55316?

As of July 20, 2026, the median monthly rent in ZIP 55316 (Champlin, MN) is $1,990. This is based on aggregated data from public sources and community submissions.

How does ZIP 55316 rent compare to the US average?

ZIP 55316's median rent of $1,990/mo is $25 (1%) above the US national median of $1,965/mo.

How does ZIP 55316 compare to other ZIPs in Minnesota?

ZIP 55316 is one of the pricier ZIP codes in Minnesota, ranking #18 out of 123 ZIPs tracked at $1,990/mo.

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 $80,000/year (~$38/hour full-time) to afford the median rent of $1,990/mo in ZIP 55316. The local median household income is $116,102/yr, meaning the typical household meets that threshold.

Is rent going up or down in ZIP 55316?

Rent in ZIP 55316 has been relatively stable over the past year, with a 0.0% change year over year as of July 20, 2026.

Is ZIP 55316 an affordable place to rent?

ZIP 55316 is considered very affordable for renters. At $1,990/mo, rent takes approximately 21% of the local median household income ($116,102/yr). The standard benchmark is 30%. ZIP 55316 falls comfortably within that range.

What percentage of ZIP 55316 residents rent vs. own?

According to Census data, approximately 11.9% of ZIP 55316 households are renters, while 88.1% are owner-occupied. ZIP 55316 leans toward homeownership, which can mean a smaller rental inventory.

How does ZIP 55316 compare to the rest of Champlin?

ZIP 55316 sits right at the Champlin citywide median of $1,990/mo.

When was rent data for ZIP 55316 last updated?

Rent data for ZIP 55316 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
21%
VERY AFFORDABLE

At $1,990/mo, rent takes ~21% of ZIP 55316's median household income ($116,102/yr). The standard benchmark is 30%.

ZIP 55316 21%Benchmark 30%
State income tax5.35–9.85%
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Schools nearby

Public schools near ZIP 55316 (Champlin, MN)

Recent submissions

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