ZIP Code · MN

ZIP 55405

Part of Minneapolis, MN

Pop. 17,198·Hennepin County·106th most expensive ZIP in Minnesota

Median rent (all units)

$1,357/mo

Year-over-Year

+1.3%

Month-over-Month

-0.4%

vs US Median

-$575

Reported rents

Stable (Monthly)

Be the first to discuss 55405 rents ↓

Most AffordableMost Expensive

ZIP 55405 · $1,357

More affordable than 83% 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

$1,180

1 BR

$1,340

2 BR

$1,630

3 BR

$2,160

4 BR+

$2,410

Research median

$1,630/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

Loading…

Last updated: October 17, 2026

From the history

What the numbers show

Cheapest month to sign

November. Asking rents in ZIP 55405 usually run 0.8% below trend in November and 0.6% above it in August, about $19 a month apart at today's median. Based on 6 years of data.

Compared with the peak

Rent in ZIP 55405 is 0.4% below its high of $1,363 in August 2026, at $1,357 as of September 2026.

Past year vs. the rest of Minnesota

Rent in ZIP 55405 changed +1.3% over the year to September 2026. Across the 102 Minnesota ZIP codes Zillow tracks, the typical change was +3.4%.

Since before the pandemic

Rent in ZIP 55405 is 14.5% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.

Recent direction

Rent rose in 6 of the last 12 months.

What a typical income covers

30% of the median household income ($73,053) is $1,826 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($1,630); a 3-bedroom is $2,160.

Rank in Minneapolis

1st cheapest of 19 ZIP codes in Minneapolis.

From Zillow's monthly rent index (ZORI) for ZIP 55405. 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.

Annual cost

$16,284/yr

At $1,357/mo median

Location

CityMinneapolis

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 (+1.3% YoY, -0.4% MoM), not inventory.

Demographics

Who lives here

ZIP 55405 (Minneapolis, MN) is majority renter-occupied, skews toward younger working-age adults, 60.6% of residents hold a bachelor's degree or higher.

Population

17,198

Median income

$73,053

Median age

Renters

63.7%

Age distribution

17.7%

38.6%

23.8%

Under 1817.7%

18–3438.6%

35–5423.8%

55–649.4%

65+10.5%

Gender

47.8%

52.2%

Male47.8%

Female52.2%

Race & ethnicity

59.3%

23.3%

White59.3%

Black23.3%

Hispanic5.1%

Asian3.9%

Other8.4%

Education (25+)

25.3%

60.6%

No HS diploma4.4%

HS diploma9.7%

Some college25.3%

Bachelor's+60.6%

Housing tenure

36.3%

63.7%

Owner36.3%

Renter63.7%

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

2021 vs 2026

How ZIP 55405 in Minneapolis, MN has changed in 5 years

Rent

$1,207 → $1,357

up 12.4%

Income

$64,504 → $73,053

up 13.3%

Population

16,523 → 17,198

up 4.1%

Renter share

61.6% → 63.7%

+2.1 pts

Bachelor's+

58.4% → 60.6%

+2.2 pts

The median rent in ZIP 55405 in Minneapolis, MN stood at $1,207 in 2021 and currently runs about $1,357, reflecting a 12.4% increase over the period. On the earnings side, the typical household in ZIP 55405 in Minneapolis, MN now reports about $73,053, up from $64,504 in 2021. The population has grown by 4.1% since 2021, moving from about 16,523 residents to roughly 17,198. Renters now make up 63.7% of households, compared with 61.6% five years ago. College-educated residents now make up 60.6% of adults here, versus 58.4% in 2021. For context, the 2021 to 2026 window covers an unusually volatile run for US rents nationally, and ZIP 55405 in Minneapolis, MN reflects that arc in its own way.

Community

Discussions about ZIP 55405

No discussions yet. Start the conversation.

Local insights

Tips for renters in ZIP 55405

About renting in ZIP 55405

Last updated: October 17, 2026

ZIP code 55405 covers Minneapolis, MN. The median rent here is $1,357/mo as of October 2026. A 1-bedroom rents for a median of $1,340/mo. A 2-bedroom rents for a median of $1,630/mo.

At 22% of local median household income ($73,053/yr), ZIP 55405 ranks as affordable compared to the national benchmark of 30%. Rents have increased 1.3% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 55405?

To keep rent at or below 30% of gross income, you would need to earn at least $54,000/year (about $26/hour full-time) to afford the median rent of $1,357/mo in ZIP 55405. The local median household income is $73,053/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 55405?

Rent in ZIP 55405 has risen 1.3% over the past year as of September 2026. It sits 0.4% below its high of $1,363 in August 2026.

When is the cheapest time to rent in ZIP 55405?

Asking rents in ZIP 55405 are usually lowest in November, about 0.8% below their yearly trend, and highest in August, about 0.6% above it. At today's median that is a gap of roughly $19 a month. This pattern comes from 6 years of Zillow rent data.

How does ZIP 55405 compare to other ZIPs in Minnesota?

ZIP 55405 is one of the more affordable among Minnesota ZIP codes for rent, ranking #106 of 123 at $1,357/mo. Over the year to September 2026, rent in ZIP 55405 changed +1.3%, against a typical +3.4% across the 102 Minnesota ZIP codes Zillow tracks.