ZIP 55403
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12-month history
Last updated: October 17, 2026
What the numbers show
December. Asking rents in ZIP 55403 usually run 1.7% below trend in December and 1.1% above it in August, about $40 a month apart at today's median. Based on 10 years of data.
Rent in ZIP 55403 is at its highest level since Zillow's records here began in May 2016.
Rent in ZIP 55403 changed +3.0% over the year to September 2026. Across the 102 Minnesota ZIP codes Zillow tracks, the typical change was +3.4%.
From 2019 to 2024, rent in ZIP 55403 rose 3.4% while median household income rose 25% ($48,682 to $60,873). Income kept ahead of rent.
Rent in ZIP 55403 is 9.9% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.
Rent has risen 3 months in a row, and rose in 8 of the last 12 months.
30% of the median household income ($60,873) is $1,522 a month. That covers HUD's Fair Market Rent for up to a 1-bedroom ($1,400); a 2-bedroom is $1,700.
3rd cheapest of 19 ZIP codes in Minneapolis.
From Zillow's monthly rent index (ZORI) for ZIP 55403. 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.
Who lives here
ZIP 55403 (Minneapolis, MN) is majority renter-occupied, skews toward younger working-age adults, has a median income below the national average, 57.9% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How ZIP 55403 in Minneapolis, MN has changed in 5 years
Rent in ZIP 55403 in Minneapolis, MN has increased 17.5% since 2021, going from about $1,208 per month to roughly $1,420 today. On the earnings side, the typical household in ZIP 55403 in Minneapolis, MN now reports about $60,873, up from $55,520 in 2021. Rent outpaced income growth by roughly 7.9 percentage points, which means renters are spending a larger slice of each paycheck on housing than they did in 2021. Headcount in the area went from 16,349 to 17,601 between 2021 and 2024, a 7.7% change. About 75% of households rent today, against 76.6% in 2021. For context, the 2021 to 2026 window covers an unusually volatile run for US rents nationally, and ZIP 55403 in Minneapolis, MN reflects that arc in its own way.
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Tips for renters in ZIP 55403
Last updated: October 17, 2026
ZIP code 55403 covers Minneapolis, MN. The median rent here is $1,420/mo as of October 2026. A 1-bedroom rents for a median of $1,400/mo. A 2-bedroom rents for a median of $1,700/mo.
At 28% of local median household income ($60,873/yr), ZIP 55403 ranks as affordable compared to the national benchmark of 30%. Rents have increased 3.0% over the past year.
Frequently asked questions
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How does ZIP 55403 compare to the rest of Minneapolis?
At $1,420/mo, rent takes ~28% of ZIP 55403's median household income ($60,873/yr). The standard benchmark is 30%.
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