ZIP Code · MN

ZIP 55415

Part of Minneapolis, MN

Pop. 6,900·Hennepin County·13th most expensive ZIP in Minnesota

Median rent (all units)

$2,091/mo

Year-over-Year

+6.3%

Month-over-Month

+1.3%

vs US Median

+$159

Reported rents

Rising (Monthly)

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Most AffordableMost Expensive

ZIP 55415 · $2,091

More expensive than 66% of US ZIP codes · National median $1,932/mo

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Medians by bedroom

Rent by unit size

Studio

$1,820

1 BR

$2,050

2 BR

$2,500

3 BR

$3,310

4 BR+

$3,700

Research median

$2,500/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 55415 is at its highest level since Zillow's records here began in February 2023.

Past year vs. the rest of Minnesota

Rent in ZIP 55415 changed +6.3% over the year to September 2026. Across the 102 Minnesota ZIP codes Zillow tracks, the typical change was +3.4%.

Recent direction

Rent has risen 9 months in a row, and rose in 10 of the last 12 months.

What a typical income covers

30% of the median household income ($124,921) is $3,123 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($2,500); a 3-bedroom is $3,310.

Rank in Minneapolis

17th cheapest of 19 ZIP codes in Minneapolis.

Cheaper nearby

ZIP 55402, 1 mile away, rents for 17% less ($1,735/mo), about $4,300 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 55415. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$25,092/yr

At $2,091/mo median

Location

CityMinneapolis

StateMN

CountyHennepin County

Rent Market Meter

Strong Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are up 6.3% year-over-year. Expect competition, and move quickly to lock in terms.

Based on rent-price momentum (+6.3% YoY, +1.3% MoM), not inventory.

Demographics

Who lives here

ZIP 55415 (Minneapolis, MN) is majority renter-occupied, skews toward younger working-age adults, has a median income above the national average, 66.8% of residents hold a bachelor's degree or higher.

Population

6,900

Median income

$124,921

Median age

33.2

Renters

66.3%

Age distribution

44.7%

19.9%

15.9%

Under 1810.1%

18–3444.7%

35–5419.9%

55–6415.9%

65+9.4%

Gender

60%

40%

Male60%

Female40%

Race & ethnicity

62.8%

15.5%

White62.8%

Black15.5%

Hispanic3.5%

Asian11.7%

Other6.5%

Education (25+)

19.9%

66.8%

No HS diploma4.3%

HS diploma9%

Some college19.9%

Bachelor's+66.8%

Housing tenure

33.7%

66.3%

Owner33.7%

Renter66.3%

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

2023 vs 2026

How ZIP 55415 in Minneapolis, MN has changed in 5 years

Rent

$1,911 → $2,091

up 9.4%

Income

$118,079 → $124,921

up 5.8%

Population

5,722 → 6,900

up 20.6%

Renter share

67.1% → 66.3%

-0.8 pts

Bachelor's+

69.4% → 66.8%

-2.6 pts

Median age

32.2 → 33.2

+1.0 yrs

Compared with 2023, rent in ZIP 55415 in Minneapolis, MN has increased by $180 per month, settling near $2,091 after starting the period at $1,911. Median household income grew from $118,079 to $124,921 between 2021 and 2024, a 5.8% shift. Rent outpaced income growth by roughly 3.6 percentage points, which means renters are spending a larger slice of each paycheck on housing than they did in 2021. Headcount in the area went from 5,722 to 6,900 between 2021 and 2024, a 20.6% change. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher slipped from 69.4% to 66.8%. Taken together, the five-year picture in ZIP 55415 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.

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About renting in ZIP 55415

Last updated: October 17, 2026

ZIP code 55415 covers Minneapolis, MN. The median rent here is $2,091/mo as of October 2026. A 1-bedroom rents for a median of $2,050/mo. A 2-bedroom rents for a median of $2,500/mo.

At 20% of local median household income ($124,921/yr), ZIP 55415 ranks as affordable compared to the national benchmark of 30%. Rents have increased 6.3% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 55415?

To keep rent at or below 30% of gross income, you would need to earn at least $84,000/year (about $40/hour full-time) to afford the median rent of $2,091/mo in ZIP 55415. The local median household income is $124,921/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 55415?

Rent in ZIP 55415 has risen 6.3% over the past year as of September 2026. That is the highest level since Zillow's records here began in February 2023.

How does ZIP 55415 compare to other ZIPs in Minnesota?

ZIP 55415 is one of the pricier among Minnesota ZIP codes for rent, ranking #13 of 123 at $2,091/mo. Over the year to September 2026, rent in ZIP 55415 changed +6.3%, against a typical +3.4% across the 102 Minnesota ZIP codes Zillow tracks.