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ZIP Code · MN

ZIP 55416

Pop. 35,015·Hennepin County·36th most expensive ZIP in Minnesota
Median rent (all units)
$1,882/mo
Year-over-Year
+4.6%
Month-over-Month
-0.2%
vs US Median
-$83
Stable (Monthly)
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Most AffordableMost Expensive
ZIP 55416 · $1,882
More expensive than 53% of US ZIP codes · National median $1,965/mo
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Medians by bedroom

Rent by unit size

Studio
$1,570
1 BR
$1,780
2 BR
$2,160
3 BR
$2,860
4 BR+
$3,200
Research median
$2,160/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
$22,584/yr
At $1,882/mo median
Location
StateMN
CountyHennepin County
Rent Market Meter
Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are climbing (4.6% YoY), so leverage tilts toward landlords. Act sooner rather than later.
Based on rent-price momentum (+4.6% YoY, -0.2% MoM), not inventory.
Demographics

Who lives here

ZIP 55416 (Saint Louis Park, MN) is roughly split between renters and owners, skews toward younger working-age adults, has a median income above the national average, 71.4% of residents hold a bachelor's degree or higher.

Population
35,015
Median income
$105,958
Median age
35.6
Renters
50.1%
Age distribution
16.4%
32.7%
22.7%
16.9%
Under 1816.4%
18–3432.7%
35–5422.7%
55–6411.3%
65+16.9%
Gender
49.6%
50.4%
Male49.6%
Female50.4%
Race & ethnicity
81.5%
White81.5%
Black4.7%
Hispanic8%
Asian2.9%
Other3%
Education (25+)
18.3%
71.4%
No HS diploma2.5%
HS diploma7.8%
Some college18.3%
Bachelor's+71.4%
Housing tenure
49.9%
50.1%
Owner49.9%
Renter50.1%

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

2021 vs 2026

How ZIP 55416 in Saint Louis Park, MN has changed in 5 years

Rent
$1,632 → $1,882
up 15.3%
Income
$93,875 → $105,958
up 12.9%
Population
34,181 → 35,015
up 2.4%
Renter share
49.3% → 50.1%
+0.8 pts
Bachelor's+
72.1% → 71.4%
-0.7 pts
Median age
35.1 → 35.6
+0.5 yrs

Across the past five years, the going rent in ZIP 55416 in Saint Louis Park, MN has shifted from $1,632 to $1,882, up 15.3% since 2021. Median household income climbed from $93,875 to $105,958 between 2021 and 2024, a 12.9% shift. Census counts show ZIP 55416 in Saint Louis Park, MN adding about 834 residents over the five-year window, up 2.4% on net. Taken together, the five-year picture in ZIP 55416 in Saint Louis Park, 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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Local insights

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About renting in ZIP 55416

Last updated: July 20, 2026

ZIP code 55416 covers Saint Louis Park, MN. The median rent here is $1,882/mo as of July 2026. A 1-bedroom rents for a median of $1,780/mo. A 2-bedroom rents for a median of $2,160/mo.

At 21% of local median household income ($105,958/yr), ZIP 55416 ranks as affordable compared to the national benchmark of 30%. Rents have increased 4.6% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 55416?

As of July 20, 2026, the median monthly rent in ZIP 55416 (Saint Louis Park, MN) is $1,882. This is based on aggregated data from public sources and community submissions.

How does ZIP 55416 rent compare to the US average?

ZIP 55416's median rent of $1,882/mo is $83 (4%) below the US national median of $1,965/mo.

How does ZIP 55416 compare to other ZIPs in Minnesota?

ZIP 55416 is one of the pricier ZIP codes in Minnesota, ranking #36 out of 123 ZIPs tracked at $1,882/mo.

How much income do you need to rent in ZIP 55416?

To keep rent at or below 30% of gross income, you would need to earn at least $75,000/year (~$36/hour full-time) to afford the median rent of $1,882/mo in ZIP 55416. The local median household income is $105,958/yr, meaning the typical household meets that threshold.

Is rent going up or down in ZIP 55416?

Rent in ZIP 55416 has increased 4.6% over the past year as of July 20, 2026, putting upward pressure on renter budgets.

Is ZIP 55416 an affordable place to rent?

ZIP 55416 is considered very affordable for renters. At $1,882/mo, rent takes approximately 21% of the local median household income ($105,958/yr). The standard benchmark is 30%. ZIP 55416 falls comfortably within that range.

What percentage of ZIP 55416 residents rent vs. own?

According to Census data, approximately 50.1% of ZIP 55416 households are renters, while 49.9% are owner-occupied. With a majority renter population, ZIP 55416 has a strong rental market.

How does ZIP 55416 compare to the rest of Saint Louis Park?

ZIP 55416 is pricier than Saint Louis Park as a whole. At $1,882/mo, it's $27 above the Saint Louis Park citywide median of $1,855/mo.

When was rent data for ZIP 55416 last updated?

Rent data for ZIP 55416 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
21%
VERY AFFORDABLE

At $1,882/mo, rent takes ~21% of ZIP 55416's median household income ($105,958/yr). The standard benchmark is 30%.

ZIP 55416 21%Benchmark 30%
State income tax5.35–9.85%
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