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ZIP Code · MN

ZIP 55414

Pop. 35,007·Hennepin County·81st most expensive ZIP in Minnesota
Median rent (all units)
$1,529/mo
Year-over-Year
-11.8%
Month-over-Month
-1.4%
vs US Median
-$436
Falling (Monthly)
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Most AffordableMost Expensive
ZIP 55414 · $1,529
More affordable than 72% of US ZIP codes · National median $1,965/mo
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Medians by bedroom

Rent by unit size

Studio
$1,240
1 BR
$1,400
2 BR
$1,700
3 BR
$2,250
4 BR+
$2,520
Research median
$1,700/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
$18,348/yr
At $1,529/mo median
Location
StateMN
CountyHennepin County
Rent Market Meter
Strong Renter's Market
Renter's MarketBalancedLandlord's Market
Rents are down 11.8% year-over-year. Push hard on price, concessions, and lease terms.
Based on rent-price momentum (-11.8% YoY, -1.4% MoM), not inventory.
Demographics

Who lives here

ZIP 55414 (Minneapolis, MN) is majority renter-occupied, skews toward younger working-age adults, has a median income below the national average, 68% of residents hold a bachelor's degree or higher.

Population
35,007
Median income
$51,966
Median age
22.8
Renters
84.9%
Age distribution
75.5%
Under 185.6%
18–3475.5%
35–5410.5%
55–642.9%
65+5.6%
Gender
50.7%
49.3%
Male50.7%
Female49.3%
Race & ethnicity
63.7%
12.5%
White63.7%
Black10%
Hispanic7.7%
Asian12.5%
Other6%
Education (25+)
17%
68%
No HS diploma6.4%
HS diploma8.5%
Some college17%
Bachelor's+68%
Housing tenure
15.1%
84.9%
Owner15.1%
Renter84.9%

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

2021 vs 2026

How ZIP 55414 in Minneapolis, MN has changed in 5 years

Rent
$1,386 → $1,529
up 10.3%
Income
$43,001 → $51,966
up 20.8%
Population
31,788 → 35,007
up 10.1%
Renter share
84.1% → 84.9%
+0.8 pts
Bachelor's+
67.6% → 68%
+0.4 pts

The median rent in ZIP 55414 in Minneapolis, MN stood at $1,386 in 2021 and currently runs about $1,529, reflecting a 10.3% increase over the period. Median household income rose from $43,001 to $51,966 between 2021 and 2024, a 20.8% shift. On paper, paychecks moved up faster than rent, which softens the affordability squeeze versus the 2021 baseline. The population has grown by 10.1% since 2021, moving from about 31,788 residents to roughly 35,007. Taken together, the five-year picture in ZIP 55414 in Minneapolis, MN reflects how housing costs and the people paying them have evolved through a stretch that included a pandemic, a hot rental market, and a recent cooling phase.

Community

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Local insights

Tips for renters in ZIP 55414

About renting in ZIP 55414

Last updated: July 20, 2026

ZIP code 55414 covers Minneapolis, MN. The median rent here is $1,529/mo as of July 2026. A 1-bedroom rents for a median of $1,400/mo. A 2-bedroom rents for a median of $1,700/mo.

At 35% of local median household income ($51,966/yr), ZIP 55414 ranks as moderate compared to the national benchmark of 30%. Rents have decreased 11.8% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 55414?

As of July 20, 2026, the median monthly rent in ZIP 55414 (Minneapolis, MN) is $1,529. This is based on aggregated data from public sources and community submissions.

How does ZIP 55414 rent compare to the US average?

ZIP 55414's median rent of $1,529/mo is $436 (22%) below the US national median of $1,965/mo.

How does ZIP 55414 compare to other ZIPs in Minnesota?

ZIP 55414 falls in the middle range for Minnesota, ranking #81 out of 123 ZIPs at $1,529/mo.

How much income do you need to rent in ZIP 55414?

To keep rent at or below 30% of gross income, you would need to earn at least $61,000/year (~$29/hour full-time) to afford the median rent of $1,529/mo in ZIP 55414. The local median household income is $51,966/yr, meaning the typical household falls short of that threshold.

Is rent going up or down in ZIP 55414?

Rent in ZIP 55414 has decreased 11.8% over the past year as of July 20, 2026, offering some relief compared to 12 months ago.

Is ZIP 55414 an affordable place to rent?

ZIP 55414 is considered moderate for renters. At $1,529/mo, rent takes approximately 35% of the local median household income ($51,966/yr). The standard benchmark is 30%. ZIP 55414 slightly exceeds that threshold, so budgeting carefully matters here.

What percentage of ZIP 55414 residents rent vs. own?

According to Census data, approximately 84.9% of ZIP 55414 households are renters, while 15.1% are owner-occupied. With a majority renter population, ZIP 55414 has a strong rental market.

How does ZIP 55414 compare to the rest of Minneapolis?

ZIP 55414 is more affordable than Minneapolis overall. At $1,529/mo, it's $157 below the Minneapolis citywide median of $1,686/mo.

When was rent data for ZIP 55414 last updated?

Rent data for ZIP 55414 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
35%
MODERATE

At $1,529/mo, rent takes ~35% of ZIP 55414's median household income ($51,966/yr). The standard benchmark is 30%.

ZIP 55414 35%Benchmark 30%
State income tax5.35–9.85%
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Schools nearby

Public schools near ZIP 55414 (Minneapolis, MN)

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