ZIP Code · MN

ZIP 55362

Part of Monticello, MN

Pop. 20,663·Wright County·61st most expensive ZIP in Minnesota

Median rent (all units)

$1,700/mo

Year-over-Year

+4.5%

Month-over-Month

+0.6%

vs US Median

-$232

Reported rents

Rising (Monthly)

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Most AffordableMost Expensive

ZIP 55362 · $1,700

More affordable than 58% 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

$1,230

1 BR

$1,390

2 BR

$1,690

3 BR

$2,240

4 BR+

$2,500

Research median

$1,690/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

Past year vs. the rest of Minnesota

Rent in ZIP 55362 changed +4.6% over the year to September 2026. Across the 102 Minnesota ZIP codes Zillow tracks, the typical change was +3.4%.

Recent direction

Rent has risen 7 months in a row, and rose in 9 of the last 12 months.

What a typical income covers

30% of the median household income ($91,832) is $2,296 a month. That covers HUD's Fair Market Rent for up to a 3-bedroom ($2,240); a 4-bedroom is $2,500.

From Zillow's monthly rent index (ZORI) for ZIP 55362. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$20,400/yr

At $1,700/mo median

Location

CityMonticello

StateMN

CountyWright County

Rent Market Meter

Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are climbing (4.5% YoY), so leverage tilts toward landlords. Act sooner rather than later.

Based on rent-price momentum (+4.5% YoY, +0.6% MoM), not inventory.

Demographics

Who lives here

ZIP 55362 (Monticello, MN) is majority owner-occupied, has a large share of families with children, has a median income above the national average, 26.3% of residents hold a bachelor's degree or higher.

Population

20,663

Median income

$91,832

Median age

Renters

26.2%

Age distribution

26.3%

23.7%

24.1%

13.3%

12.6%

Under 1826.3%

18–3423.7%

35–5424.1%

55–6413.3%

65+12.6%

Gender

49.9%

50.1%

Male49.9%

Female50.1%

Race & ethnicity

86%

White86%

Black1%

Hispanic7%

Asian2.9%

Other3.2%

Education (25+)

29.7%

34.5%

26.3%

No HS diploma9.5%

HS diploma29.7%

Some college34.5%

Bachelor's+26.3%

Housing tenure

73.8%

26.2%

Owner73.8%

Renter26.2%

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

2021 vs 2026

How ZIP 55362 in Monticello, MN has changed in 5 years

Income

$83,714 → $91,832

up 9.7%

Population

19,601 → 20,663

up 5.4%

Renter share

24.6% → 26.2%

+1.6 pts

Bachelor's+

25.1% → 26.3%

+1.2 pts

On the earnings side, the typical household in ZIP 55362 in Monticello, MN now reports about $91,832, up from $83,714 in 2021. The population has grown by 5.4% since 2021, moving from about 19,601 residents to roughly 20,663. Renters now make up 26.2% of households, compared with 24.6% five years ago.

Community

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Local insights

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About renting in ZIP 55362

Last updated: October 17, 2026

ZIP code 55362 covers Monticello, MN. The median rent here is $1,700/mo as of October 2026. A 1-bedroom rents for a median of $1,390/mo. A 2-bedroom rents for a median of $1,690/mo.

At 22% of local median household income ($91,832/yr), ZIP 55362 ranks as affordable compared to the national benchmark of 30%. Rents have increased 4.5% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 55362?

To keep rent at or below 30% of gross income, you would need to earn at least $68,000/year (about $33/hour full-time) to afford the median rent of $1,700/mo in ZIP 55362. The local median household income is $91,832/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 55362?

Rent in ZIP 55362 has risen 4.5% over the past year.

How does ZIP 55362 compare to other ZIPs in Minnesota?

ZIP 55362 is in the middle among Minnesota ZIP codes for rent, ranking #61 of 123 at $1,700/mo. Over the year to September 2026, rent in ZIP 55362 changed +4.6%, against a typical +3.4% across the 102 Minnesota ZIP codes Zillow tracks.