ZIP 55416
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12-month history
Last updated: October 17, 2026
What the numbers show
November. Asking rents in ZIP 55416 usually run 1.3% below trend in November and 1.2% above it in June, about $47 a month apart at today's median. Based on 9 years of data.
Rent in ZIP 55416 is at its highest level since Zillow's records here began in January 2017.
Rent in ZIP 55416 changed +2.4% over the year to September 2026. Across the 102 Minnesota ZIP codes Zillow tracks, the typical change was +3.4%.
From 2019 to 2024, rent in ZIP 55416 rose 11.3% while median household income rose 24.5% ($85,108 to $105,958). Income kept ahead of rent.
Rent in ZIP 55416 is 15.4% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.
Rent has risen 7 months in a row, and rose in 9 of the last 12 months.
30% of the median household income ($105,958) is $2,649 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($2,160); a 3-bedroom is $2,860.
ZIP 55408, 2 miles away, rents for 21% less ($1,488/mo), about $4,600 a year in savings.
From Zillow's monthly rent index (ZORI) for ZIP 55416. The seasonal pattern compares Zillow’s seasonally adjusted and unadjusted series. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
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.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How ZIP 55416 in Saint Louis Park, MN has changed in 5 years
Across the past five years, the going rent in ZIP 55416 in Saint Louis Park, MN has shifted from $1,594 to $1,873, up 17.5% since 2021. Median household income climbed from $93,875 to $105,958 between 2021 and 2024, a 12.9% shift. Because rent grew faster than wages over the same span, the affordability picture has tightened relative to 2021. 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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Tips for renters in ZIP 55416
Last updated: October 17, 2026
ZIP code 55416 covers Saint Louis Park, MN. The median rent here is $1,873/mo as of October 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 2.4% over the past year.
Frequently asked questions
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How does ZIP 55416 compare to the rest of Saint Louis Park?
At $1,873/mo, rent takes ~21% of ZIP 55416's median household income ($105,958/yr). The standard benchmark is 30%.
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