ZIP Code · MN

ZIP 55412

Part of Minneapolis, MN

Pop. 24,460·Hennepin County·59th most expensive ZIP in Minnesota

Median rent (all units)

$1,730/mo

Year-over-Year

+3.1%

Month-over-Month

+0.7%

vs US Median

-$202

Reported rents

Rising (Monthly)

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Most AffordableMost Expensive

ZIP 55412 · $1,730

More affordable than 56% of US ZIP codes · National median $1,932/mo

Rent check

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Compare your rent to the local median.

Medians by bedroom

Rent by unit size

Studio

$1,280

1 BR

$1,450

2 BR

$1,760

3 BR

$2,330

4 BR+

$2,610

Research median

$1,760/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: October 17, 2026

From the history

What the numbers show

Compared with the peak

Rent in ZIP 55412 is at its highest level since Zillow's records here began in May 2022.

Past year vs. the rest of Minnesota

Rent in ZIP 55412 changed +3.1% over the year to September 2026. Across the 102 Minnesota ZIP codes Zillow tracks, the typical change was +3.4%.

Recent direction

Rent rose in 7 of the last 12 months.

What a typical income covers

30% of the median household income ($68,682) is $1,717 a month. That covers HUD's Fair Market Rent for up to a 1-bedroom ($1,450); a 2-bedroom is $1,760.

Rank in Minneapolis

8th cheapest of 19 ZIP codes in Minneapolis.

Cheaper nearby

ZIP 55430, 3 miles away, rents for 16% less ($1,455/mo), about $3,300 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 55412. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$20,760/yr

At $1,730/mo median

Location

CityMinneapolis

StateMN

CountyHennepin County

Rent Market Meter

Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are climbing (3.1% YoY), so leverage tilts toward landlords. Act sooner rather than later.

Based on rent-price momentum (+3.1% YoY, +0.7% MoM), not inventory.

Demographics

Who lives here

ZIP 55412 (Minneapolis, MN) is majority owner-occupied, has a large share of families with children, 30.4% of residents hold a bachelor's degree or higher.

Population

24,460

Median income

$68,682

Median age

35.2

Renters

27.8%

Age distribution

26.9%

22.6%

31.3%

Under 1826.9%

18–3422.6%

35–5431.3%

55–649.8%

65+9.4%

Gender

48.2%

51.8%

Male48.2%

Female51.8%

Race & ethnicity

38.3%

34%

White38.3%

Black34%

Hispanic11.5%

Asian8.5%

Other7.8%

Education (25+)

13%

27.1%

29.5%

30.4%

No HS diploma13%

HS diploma27.1%

Some college29.5%

Bachelor's+30.4%

Housing tenure

72.2%

27.8%

Owner72.2%

Renter27.8%

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

2023 vs 2026

How ZIP 55412 in Minneapolis, MN has changed in 5 years

Rent

$1,430 → $1,730

up 21.0%

Income

$54,594 → $68,682

up 25.8%

Population

25,497 → 24,460

down 4.1%

Renter share

28.2% → 27.8%

-0.4 pts

Bachelor's+

28% → 30.4%

+2.4 pts

Median age

34.5 → 35.2

+0.7 yrs

The median rent in ZIP 55412 in Minneapolis, MN stood at $1,430 in 2023 and currently runs about $1,730, reflecting a 21.0% increase over the period. Census figures show median household income at $68,682 today, compared with $54,594 five years earlier. On paper, paychecks moved up faster than rent, which softens the affordability squeeze versus the 2021 baseline. The population has contracted by 4.1% since 2021, moving from about 25,497 residents to roughly 24,460. College-educated residents now make up 30.4% of adults here, versus 28% in 2021. The combined trend lines point to a market that has changed measurably from where it stood in early 2023.

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Local insights

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About renting in ZIP 55412

Last updated: October 17, 2026

ZIP code 55412 covers Minneapolis, MN. The median rent here is $1,730/mo as of October 2026. A 1-bedroom rents for a median of $1,450/mo. A 2-bedroom rents for a median of $1,760/mo.

At 30% of local median household income ($68,682/yr), ZIP 55412 ranks as moderate compared to the national benchmark of 30%. Rents have increased 3.1% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 55412?

To keep rent at or below 30% of gross income, you would need to earn at least $69,000/year (about $33/hour full-time) to afford the median rent of $1,730/mo in ZIP 55412. The local median household income is $68,682/yr, so the typical household falls short of that bar.

Is rent going up or down in ZIP 55412?

Rent in ZIP 55412 has risen 3.1% over the past year as of September 2026. That is the highest level since Zillow's records here began in May 2022.

How does ZIP 55412 compare to other ZIPs in Minnesota?

ZIP 55412 is in the middle among Minnesota ZIP codes for rent, ranking #59 of 123 at $1,730/mo. Over the year to September 2026, rent in ZIP 55412 changed +3.1%, against a typical +3.4% across the 102 Minnesota ZIP codes Zillow tracks.