ZIP Code · MN

ZIP 55402

Part of Minneapolis, MN

Pop. 667·Hennepin County·57th most expensive ZIP in Minnesota

Median rent (all units)

$1,735/mo

Year-over-Year

Stable

Month-over-Month

+1.1%

vs US Median

-$197

Reported rents

Rising (Monthly)

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Most AffordableMost Expensive

ZIP 55402 · $1,735

More affordable than 55% of US ZIP codes · National median $1,932/mo

Rent check

Is your rent fair?

Compare your rent to the local median.

Medians by bedroom

Rent by unit size

Studio

$1,560

1 BR

$1,770

2 BR

$2,150

3 BR

$2,850

4 BR+

$3,180

Research median

$2,150/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 ($62,105) is $1,553 a month. That is less than HUD's Fair Market Rent for a studio ($1,560).

Rank in Minneapolis

9th cheapest of 19 ZIP codes in Minneapolis.

Cheaper nearby

ZIP 55403, 1 mile away, rents for 18% less ($1,420/mo), about $3,800 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 55402. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$20,820/yr

At $1,735/mo median

Location

CityMinneapolis

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, +1.1% MoM), not inventory.

Demographics

Who lives here

ZIP 55402 (Minneapolis, MN) is majority renter-occupied, skews toward younger working-age adults, has a median income below the national average, 59.8% of residents hold a bachelor's degree or higher.

Population

667

Median income

$62,105

Median age

28.3

Renters

100%

Age distribution

72.6%

18%

18–3472.6%

35–5418%

55–642.4%

65+7%

Gender

63.6%

36.4%

Male63.6%

Female36.4%

Race & ethnicity

70.5%

13.5%

White70.5%

Black13.5%

Hispanic4.2%

Asian11.1%

Other0.7%

Education (25+)

15.3%

22.1%

59.8%

No HS diploma2.7%

HS diploma15.3%

Some college22.1%

Bachelor's+59.8%

Housing tenure

100%

Renter100%

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

2021 vs 2026

How ZIP 55402 in Minneapolis, MN has changed in 5 years

Income

$61,360 → $62,105

up 1.2%

Population

590 → 667

up 13.1%

Renter share

100% → 100%

+0.0 pts

Bachelor's+

53% → 59.8%

+6.8 pts

Median age

35.1 → 28.3

-6.8 yrs

On the earnings side, the typical household in ZIP 55402 in Minneapolis, MN now reports about $62,105, up from $61,360 in 2021. The population has grown by 13.1% since 2021, moving from about 590 residents to roughly 667. College-educated residents now make up 59.8% of adults here, versus 53% in 2021.

Community

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Local insights

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About renting in ZIP 55402

Last updated: October 17, 2026

ZIP code 55402 covers Minneapolis, MN. The median rent here is $1,735/mo as of October 2026. A 1-bedroom rents for a median of $1,770/mo. A 2-bedroom rents for a median of $2,150/mo.

At 34% of local median household income ($62,105/yr), ZIP 55402 ranks as moderate 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 55402?

To keep rent at or below 30% of gross income, you would need to earn at least $69,000/year (about $33/hour full-time) to afford the median rent of $1,735/mo in ZIP 55402. The local median household income is $62,105/yr, so the typical household falls short of that bar.