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ZIP Code · MN

ZIP 55362

Pop. 20,663·Wright County·71st most expensive ZIP in Minnesota
Median rent (all units)
$1,616/mo
Year-over-Year
+6.6%
Month-over-Month
-1.2%
vs US Median
-$349
Falling (Monthly)
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Most AffordableMost Expensive
ZIP 55362 · $1,616
More affordable than 65% of US ZIP codes · National median $1,965/mo
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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: July 20, 2026

Annual cost
$19,392/yr
At $1,616/mo median
Location
StateMN
CountyWright County
Rent Market Meter
Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are climbing (6.6% YoY), so leverage tilts toward landlords. Act sooner rather than later.
Based on rent-price momentum (+6.6% YoY, -1.2% 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
35
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

Tips for renters in ZIP 55362

About renting in ZIP 55362

Last updated: July 20, 2026

ZIP code 55362 covers Monticello, MN. The median rent here is $1,616/mo as of July 2026. A 1-bedroom rents for a median of $1,390/mo. A 2-bedroom rents for a median of $1,690/mo.

At 21% of local median household income ($91,832/yr), ZIP 55362 ranks as affordable compared to the national benchmark of 30%. Rents have increased 6.6% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 55362?

As of July 20, 2026, the median monthly rent in ZIP 55362 (Monticello, MN) is $1,616. This is based on aggregated data from public sources and community submissions.

How does ZIP 55362 rent compare to the US average?

ZIP 55362's median rent of $1,616/mo is $349 (18%) below the US national median of $1,965/mo.

How does ZIP 55362 compare to other ZIPs in Minnesota?

ZIP 55362 falls in the middle range for Minnesota, ranking #71 out of 123 ZIPs at $1,616/mo.

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 $65,000/year (~$31/hour full-time) to afford the median rent of $1,616/mo in ZIP 55362. The local median household income is $91,832/yr, meaning the typical household meets that threshold.

Is rent going up or down in ZIP 55362?

Rent in ZIP 55362 has increased 6.6% over the past year as of July 20, 2026, putting upward pressure on renter budgets.

Is ZIP 55362 an affordable place to rent?

ZIP 55362 is considered very affordable for renters. At $1,616/mo, rent takes approximately 21% of the local median household income ($91,832/yr). The standard benchmark is 30%. ZIP 55362 falls comfortably within that range.

What percentage of ZIP 55362 residents rent vs. own?

According to Census data, approximately 26.2% of ZIP 55362 households are renters, while 73.8% are owner-occupied. ZIP 55362 leans toward homeownership, which can mean a smaller rental inventory.

How does ZIP 55362 compare to the rest of Monticello?

ZIP 55362 is more affordable than Monticello overall. At $1,616/mo, it's $7 below the Monticello citywide median of $1,623/mo.

When was rent data for ZIP 55362 last updated?

Rent data for ZIP 55362 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
21%
VERY AFFORDABLE

At $1,616/mo, rent takes ~21% of ZIP 55362's median household income ($91,832/yr). The standard benchmark is 30%.

ZIP 55362 21%Benchmark 30%
State income tax5.35–9.85%
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Schools nearby

Public schools near ZIP 55362 (Monticello, MN)

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