ZIP 55404
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Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).
12-month history
Last updated: October 17, 2026
What the numbers show
December. Asking rents in ZIP 55404 usually run 1.1% below trend in December and 0.9% above it in August, about $29 a month apart at today's median. Based on 7 years of data.
Rent in ZIP 55404 is 0.5% below its high of $1,468 in July 2026, at $1,461 as of September 2026.
Rent in ZIP 55404 changed +1.4% 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 55404 rose 5.4% while median household income rose 37.1% ($30,585 to $41,940). Income kept ahead of rent.
Rent in ZIP 55404 is 5% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.
Rent has fallen 2 months in a row, and rose in 7 of the last 12 months.
30% of the median household income ($41,940) is $1,049 a month. That is less than HUD's Fair Market Rent for a studio ($1,150).
4th cheapest of 19 ZIP codes in Minneapolis.
ZIP 55130, 9 miles away, rents for 16% less ($1,225/mo), about $2,800 a year in savings.
From Zillow's monthly rent index (ZORI) for ZIP 55404. 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 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.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How ZIP 55404 in Minneapolis, MN has changed in 5 years
Five years ago, renters in ZIP 55404 in Minneapolis, MN paid around $1,324 a month. That figure now sits near $1,461, up 10.3% 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. With wages climbing faster than rent over the same window, renters here have a bit more breathing room than they did five years back. 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.
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Tips for renters in ZIP 55404
Last updated: October 17, 2026
ZIP code 55404 covers Minneapolis, MN. The median rent here is $1,461/mo as of October 2026. A 1-bedroom rents for a median of $1,300/mo. A 2-bedroom rents for a median of $1,580/mo.
At 42% of local median household income ($41,940/yr), ZIP 55404 ranks as moderate compared to the national benchmark of 30%. Rents have increased 1.4% over the past year.
Frequently asked questions
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How does ZIP 55404 compare to the rest of Minneapolis?
At $1,461/mo, rent takes ~42% of ZIP 55404's median household income ($41,940/yr). The standard benchmark is 30%.
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