ZIP Code · MN

ZIP 55318

Part of Chaska, MN

Pop. 30,369·Carver County·37th most expensive ZIP in Minnesota

Median rent (all units)

$1,848/mo

Year-over-Year

+2.4%

Month-over-Month

+0.8%

vs US Median

-$84

Reported rents

Rising (Monthly)

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Most AffordableMost Expensive

ZIP 55318 · $1,848

More expensive than 52% of US ZIP codes · National median $1,932/mo

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Medians by bedroom

Rent by unit size

Studio

$1,260

1 BR

$1,420

2 BR

$1,730

3 BR

$2,290

4 BR+

$2,560

Research median

$1,730/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

Cheapest month to sign

October. Asking rents in ZIP 55318 usually run 0.7% below trend in October and 0.7% above it in July, about $26 a month apart at today's median. Based on 5 years of data.

Compared with the peak

Rent in ZIP 55318 is at its highest level since Zillow's records here began in October 2021.

Past year vs. the rest of Minnesota

Rent in ZIP 55318 changed +2.4% over the year to September 2026. Across the 102 Minnesota ZIP codes Zillow tracks, the typical change was +3.4%.

Recent direction

Rent rose in 7 of the last 12 months.

What a typical income covers

30% of the median household income ($112,243) is $2,806 a month. That covers HUD's Fair Market Rent for up to a 4-bedroom ($2,560).

From Zillow's monthly rent index (ZORI) for ZIP 55318. 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.

Annual cost

$22,176/yr

At $1,848/mo median

Location

CityChaska

StateMN

CountyCarver County

Rent Market Meter

Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are climbing (2.4% YoY), so leverage tilts toward landlords. Act sooner rather than later.

Based on rent-price momentum (+2.4% YoY, +0.8% MoM), not inventory.

Demographics

Who lives here

ZIP 55318 (Chaska, MN) is majority owner-occupied, has a large share of families with children, has a median income above the national average, 47% of residents hold a bachelor's degree or higher.

Population

30,369

Median income

$112,243

Median age

37.8

Renters

30.9%

Age distribution

25.7%

19.7%

28.2%

12.6%

13.9%

Under 1825.7%

18–3419.7%

35–5428.2%

55–6412.6%

65+13.9%

Gender

48.6%

51.4%

Male48.6%

Female51.4%

Race & ethnicity

80.7%

White80.7%

Black3.2%

Hispanic9.3%

Asian3.8%

Other3.1%

Education (25+)

19%

28.4%

47%

No HS diploma5.6%

HS diploma19%

Some college28.4%

Bachelor's+47%

Housing tenure

69.1%

30.9%

Owner69.1%

Renter30.9%

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

2022 vs 2026

How ZIP 55318 in Chaska, MN has changed in 5 years

Rent

$1,603 → $1,848

up 15.3%

Income

$96,502 → $112,243

up 16.3%

Population

28,981 → 30,369

up 4.8%

Renter share

28.2% → 30.9%

+2.7 pts

Bachelor's+

45.1% → 47%

+1.9 pts

Five years ago, renters in ZIP 55318 in Chaska, MN paid around $1,603 a month. That figure now sits near $1,848, up 15.3% from the 2022 baseline. Local incomes tracked alongside that move, going from a median of $96,502 in 2021 to $112,243 more recently. Census counts show ZIP 55318 in Chaska, MN adding about 1,388 residents over the five-year window, up 4.8% on net. The renter share has risen from 28.2% to 30.9%, with owner-occupied housing accounting for the remainder. These shifts give renters and would-be renters a longer baseline for sizing up today's listings against the ZIP 55318 in Chaska, MN market of 2022.

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About renting in ZIP 55318

Last updated: October 17, 2026

ZIP code 55318 covers Chaska, MN. The median rent here is $1,848/mo as of October 2026. A 1-bedroom rents for a median of $1,420/mo. A 2-bedroom rents for a median of $1,730/mo.

At 20% of local median household income ($112,243/yr), ZIP 55318 ranks as affordable compared to the national benchmark of 30%. Rents have increased 2.4% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 55318?

To keep rent at or below 30% of gross income, you would need to earn at least $74,000/year (about $36/hour full-time) to afford the median rent of $1,848/mo in ZIP 55318. The local median household income is $112,243/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 55318?

Rent in ZIP 55318 has risen 2.4% over the past year as of September 2026. That is the highest level since Zillow's records here began in October 2021.

When is the cheapest time to rent in ZIP 55318?

Asking rents in ZIP 55318 are usually lowest in October, about 0.7% below their yearly trend, and highest in July, about 0.7% above it. At today's median that is a gap of roughly $26 a month. This pattern comes from 5 years of Zillow rent data.

How does ZIP 55318 compare to other ZIPs in Minnesota?

ZIP 55318 is one of the pricier among Minnesota ZIP codes for rent, ranking #37 of 123 at $1,848/mo. Over the year to September 2026, rent in ZIP 55318 changed +2.4%, against a typical +3.4% across the 102 Minnesota ZIP codes Zillow tracks.