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ZIP Code · MN

ZIP 55404

Pop. 28,920·Hennepin County·98th most expensive ZIP in Minnesota
Median rent (all units)
$1,438/mo
Year-over-Year
+7.2%
Month-over-Month
+1.3%
vs US Median
-$527
Rising (Monthly)
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Most AffordableMost Expensive
ZIP 55404 · $1,438
More affordable than 78% of US ZIP codes · National median $1,965/mo
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Medians by bedroom

Rent by unit size

Studio
$1,150
1 BR
$1,300
2 BR
$1,580
3 BR
$2,090
4 BR+
$2,340
Research median
$1,580/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
$17,256/yr
At $1,438/mo median
Location
StateMN
CountyHennepin County
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 7.2% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (+7.2% YoY, +1.3% MoM), not inventory.
Demographics

Who lives here

ZIP 55404 (Minneapolis, MN) is majority renter-occupied, skews toward younger working-age adults, has a median income below the national average, 36.1% of residents hold a bachelor's degree or higher.

Population
28,920
Median income
$41,940
Median age
30.9
Renters
82.5%
Age distribution
22.5%
33.5%
23%
Under 1822.5%
18–3433.5%
35–5423%
55–6411%
65+10%
Gender
55.9%
44.1%
Male55.9%
Female44.1%
Race & ethnicity
34.2%
39.2%
16.9%
White34.2%
Black39.2%
Hispanic16.9%
Asian3.6%
Other6.1%
Education (25+)
18.8%
21.5%
23.6%
36.1%
No HS diploma18.8%
HS diploma21.5%
Some college23.6%
Bachelor's+36.1%
Housing tenure
17.5%
82.5%
Owner17.5%
Renter82.5%

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

2021 vs 2026

How ZIP 55404 in Minneapolis, MN has changed in 5 years

Rent
$1,228 → $1,438
up 17.1%
Income
$37,029 → $41,940
up 13.3%
Population
28,413 → 28,920
up 1.8%
Renter share
83.8% → 82.5%
-1.3 pts
Bachelor's+
33.9% → 36.1%
+2.2 pts

Five years ago, renters in ZIP 55404 in Minneapolis, MN paid around $1,228 a month. That figure now sits near $1,438, up 17.1% from the 2021 baseline. On the earnings side, the typical household in ZIP 55404 in Minneapolis, MN now reports about $41,940, up from $37,029 in 2021. Because rent grew faster than wages over the same span, the affordability picture has tightened relative to 2021. Census counts show ZIP 55404 in Minneapolis, MN adding about 507 residents over the five-year window, up 1.8% on net. Bachelor's-degree-or-higher attainment moved from 33.9% to 36.1% across the same window. For context, the 2021 to 2026 window covers an unusually volatile run for US rents nationally, and ZIP 55404 in Minneapolis, MN reflects that arc in its own way.

Community

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Local insights

Tips for renters in ZIP 55404

About renting in ZIP 55404

Last updated: July 20, 2026

ZIP code 55404 covers Minneapolis, MN. The median rent here is $1,438/mo as of July 2026. A 1-bedroom rents for a median of $1,300/mo. A 2-bedroom rents for a median of $1,580/mo.

At 41% of local median household income ($41,940/yr), ZIP 55404 ranks as moderate compared to the national benchmark of 30%. Rents have increased 7.2% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 55404?

As of July 20, 2026, the median monthly rent in ZIP 55404 (Minneapolis, MN) is $1,438. This is based on aggregated data from public sources and community submissions.

How does ZIP 55404 rent compare to the US average?

ZIP 55404's median rent of $1,438/mo is $527 (27%) below the US national median of $1,965/mo.

How does ZIP 55404 compare to other ZIPs in Minnesota?

ZIP 55404 is among the more affordable ZIP codes in Minnesota, ranking #98 out of 123 ZIPs at $1,438/mo.

How much income do you need to rent in ZIP 55404?

To keep rent at or below 30% of gross income, you would need to earn at least $58,000/year (~$28/hour full-time) to afford the median rent of $1,438/mo in ZIP 55404. The local median household income is $41,940/yr, meaning the typical household falls short of that threshold.

Is rent going up or down in ZIP 55404?

Rent in ZIP 55404 has increased 7.2% over the past year as of July 20, 2026, putting upward pressure on renter budgets.

Is ZIP 55404 an affordable place to rent?

ZIP 55404 is considered stretched for renters. At $1,438/mo, rent takes approximately 41% of the local median household income ($41,940/yr). The standard benchmark is 30%. ZIP 55404 significantly exceeds that threshold, making it challenging for many renters.

What percentage of ZIP 55404 residents rent vs. own?

According to Census data, approximately 82.5% of ZIP 55404 households are renters, while 17.5% are owner-occupied. With a majority renter population, ZIP 55404 has a strong rental market.

How does ZIP 55404 compare to the rest of Minneapolis?

ZIP 55404 is more affordable than Minneapolis overall. At $1,438/mo, it's $248 below the Minneapolis citywide median of $1,686/mo.

When was rent data for ZIP 55404 last updated?

Rent data for ZIP 55404 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
41%
STRETCHED

At $1,438/mo, rent takes ~41% of ZIP 55404's median household income ($41,940/yr). The standard benchmark is 30%.

ZIP 55404 41%Benchmark 30%
State income tax5.35–9.85%
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Schools nearby

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