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ZIP Code · MN

ZIP 55409

Pop. 11,188·Hennepin County·72nd most expensive ZIP in Minnesota
Median rent (all units)
$1,595/mo
Year-over-Year
+13.7%
Month-over-Month
-0.6%
vs US Median
-$370
Falling (Monthly)
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Most AffordableMost Expensive
ZIP 55409 · $1,595
More affordable than 67% of US ZIP codes · National median $1,965/mo
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Medians by bedroom

Rent by unit size

Studio
$1,200
1 BR
$1,360
2 BR
$1,650
3 BR
$2,180
4 BR+
$2,440
Research median
$1,650/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
$19,140/yr
At $1,595/mo median
Location
StateMN
CountyHennepin County
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 13.7% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (+13.7% YoY, -0.6% MoM), not inventory.
Demographics

Who lives here

ZIP 55409 (Minneapolis, MN) is majority owner-occupied, has a median income above the national average, 64.6% of residents hold a bachelor's degree or higher.

Population
11,188
Median income
$98,305
Median age
36.9
Renters
34.5%
Age distribution
18.5%
27.2%
31.5%
12.9%
Under 1818.5%
18–3427.2%
35–5431.5%
55–6410%
65+12.9%
Gender
48.4%
51.6%
Male48.4%
Female51.6%
Race & ethnicity
75%
White75%
Black8.8%
Hispanic8.2%
Asian3.3%
Other4.7%
Education (25+)
19.7%
64.6%
No HS diploma5.3%
HS diploma10.4%
Some college19.7%
Bachelor's+64.6%
Housing tenure
65.5%
34.5%
Owner65.5%
Renter34.5%

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

2021 vs 2026

How ZIP 55409 in Minneapolis, MN has changed in 5 years

Income
$86,061 → $98,305
up 14.2%
Population
11,262 → 11,188
down 0.7%
Renter share
33.9% → 34.5%
+0.6 pts
Bachelor's+
57.9% → 64.6%
+6.7 pts
Median age
36.1 → 36.9
+0.8 yrs

Local incomes tracked alongside that move, going from a median of $86,061 in 2021 to $98,305 more recently. Bachelor's-degree-or-higher attainment moved from 57.9% to 64.6% across the same window.

Community

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Local insights

Tips for renters in ZIP 55409

About renting in ZIP 55409

Last updated: July 20, 2026

ZIP code 55409 covers Minneapolis, MN. The median rent here is $1,595/mo as of July 2026. A 1-bedroom rents for a median of $1,360/mo. A 2-bedroom rents for a median of $1,650/mo.

At 19% of local median household income ($98,305/yr), ZIP 55409 ranks as affordable compared to the national benchmark of 30%. Rents have increased 13.7% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 55409?

As of July 20, 2026, the median monthly rent in ZIP 55409 (Minneapolis, MN) is $1,595. This is based on aggregated data from public sources and community submissions.

How does ZIP 55409 rent compare to the US average?

ZIP 55409's median rent of $1,595/mo is $370 (19%) below the US national median of $1,965/mo.

How does ZIP 55409 compare to other ZIPs in Minnesota?

ZIP 55409 falls in the middle range for Minnesota, ranking #72 out of 123 ZIPs at $1,595/mo.

How much income do you need to rent in ZIP 55409?

To keep rent at or below 30% of gross income, you would need to earn at least $64,000/year (~$31/hour full-time) to afford the median rent of $1,595/mo in ZIP 55409. The local median household income is $98,305/yr, meaning the typical household meets that threshold.

Is rent going up or down in ZIP 55409?

Rent in ZIP 55409 has increased 13.7% over the past year as of July 20, 2026, putting upward pressure on renter budgets.

Is ZIP 55409 an affordable place to rent?

ZIP 55409 is considered very affordable for renters. At $1,595/mo, rent takes approximately 19% of the local median household income ($98,305/yr). The standard benchmark is 30%. ZIP 55409 falls comfortably within that range.

What percentage of ZIP 55409 residents rent vs. own?

According to Census data, approximately 34.5% of ZIP 55409 households are renters, while 65.5% are owner-occupied. ZIP 55409 leans toward homeownership, which can mean a smaller rental inventory.

How does ZIP 55409 compare to the rest of Minneapolis?

ZIP 55409 is more affordable than Minneapolis overall. At $1,595/mo, it's $91 below the Minneapolis citywide median of $1,686/mo.

When was rent data for ZIP 55409 last updated?

Rent data for ZIP 55409 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
19%
VERY AFFORDABLE

At $1,595/mo, rent takes ~19% of ZIP 55409's median household income ($98,305/yr). The standard benchmark is 30%.

ZIP 55409 19%Benchmark 30%
State income tax5.35–9.85%
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Schools nearby

Public schools near ZIP 55409 (Minneapolis, MN)

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