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ZIP Code · MN

ZIP 55402

Pop. 667·Hennepin County·53rd most expensive ZIP in Minnesota
Median rent (all units)
$1,737/mo
Year-over-Year
Stable
Month-over-Month
-0.6%
vs US Median
-$228
Falling (Monthly)
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Most AffordableMost Expensive
ZIP 55402 · $1,737
More affordable than 56% of US ZIP codes · National median $1,965/mo
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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: July 20, 2026

Annual cost
$20,844/yr
At $1,737/mo median
Location
StateMN
CountyHennepin County
Rent Market Meter
Balanced Market
Renter's MarketBalancedLandlord's Market
Rents are roughly steady, with neither renters nor landlords holding a strong edge right now.
Based on rent-price momentum (+0.0% YoY, -0.6% 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: July 20, 2026

ZIP code 55402 covers Minneapolis, MN. The median rent here is $1,737/mo as of July 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 is rent in ZIP code 55402?

As of July 20, 2026, the median monthly rent in ZIP 55402 (Minneapolis, MN) is $1,737. This is based on aggregated data from public sources and community submissions.

How does ZIP 55402 rent compare to the US average?

ZIP 55402's median rent of $1,737/mo is $228 (12%) below the US national median of $1,965/mo.

How does ZIP 55402 compare to other ZIPs in Minnesota?

ZIP 55402 falls in the middle range for Minnesota, ranking #53 out of 123 ZIPs at $1,737/mo.

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 (~$33/hour full-time) to afford the median rent of $1,737/mo in ZIP 55402. The local median household income is $62,105/yr, meaning the typical household falls short of that threshold.

Is rent going up or down in ZIP 55402?

Rent in ZIP 55402 has been relatively stable over the past year, with a 0.0% change year over year as of July 20, 2026.

Is ZIP 55402 an affordable place to rent?

ZIP 55402 is considered moderate for renters. At $1,737/mo, rent takes approximately 34% of the local median household income ($62,105/yr). The standard benchmark is 30%. ZIP 55402 slightly exceeds that threshold, so budgeting carefully matters here.

What percentage of ZIP 55402 residents rent vs. own?

According to Census data, approximately 100% of ZIP 55402 households are renters, while 0% are owner-occupied. With a majority renter population, ZIP 55402 has a strong rental market.

How does ZIP 55402 compare to the rest of Minneapolis?

ZIP 55402 is pricier than Minneapolis as a whole. At $1,737/mo, it's $51 above the Minneapolis citywide median of $1,686/mo.

When was rent data for ZIP 55402 last updated?

Rent data for ZIP 55402 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
34%
MODERATE

At $1,737/mo, rent takes ~34% of ZIP 55402's median household income ($62,105/yr). The standard benchmark is 30%.

ZIP 55402 34%Benchmark 30%
State income tax5.35–9.85%
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Schools nearby

Public schools near ZIP 55402 (Minneapolis, MN)

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