ZIP Code · MN

ZIP 55417

Part of Minneapolis, MN

Pop. 25,102·Hennepin County·40th most expensive ZIP in Minnesota

Median rent (all units)

$1,826/mo

Year-over-Year

+3.8%

Month-over-Month

-0.2%

vs US Median

-$106

Reported rents

Stable (Monthly)

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Most AffordableMost Expensive

ZIP 55417 · $1,826

More expensive than 51% of US ZIP codes · National median $1,932/mo

Rent check

Is your rent fair?

Compare your rent to the local median.

Medians by bedroom

Rent by unit size

Studio

$1,230

1 BR

$1,390

2 BR

$1,690

3 BR

$2,240

4 BR+

$2,500

Research median

$1,690/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 55417 is 0.2% below its high of $1,829 in August 2026, at $1,826 as of September 2026.

Past year vs. the rest of Minnesota

Rent in ZIP 55417 changed +3.8% 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 ($126,261) is $3,157 a month. That covers HUD's Fair Market Rent for up to a 4-bedroom ($2,500).

Rank in Minneapolis

15th cheapest of 19 ZIP codes in Minneapolis.

Cheaper nearby

ZIP 55407, 2 miles away, rents for 15% less ($1,551/mo), about $3,300 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 55417. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$21,912/yr

At $1,826/mo median

Location

CityMinneapolis

StateMN

CountyHennepin County

Rent Market Meter

Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are climbing (3.8% YoY), so leverage tilts toward landlords. Act sooner rather than later.

Based on rent-price momentum (+3.8% YoY, -0.2% MoM), not inventory.

Demographics

Who lives here

ZIP 55417 (Minneapolis, MN) is majority owner-occupied, has a median income above the national average, 63.8% of residents hold a bachelor's degree or higher.

Population

25,102

Median income

$126,261

Median age

41.1

Renters

16.2%

Age distribution

21.9%

17.4%

33.4%

16%

Under 1821.9%

18–3417.4%

35–5433.4%

55–6411.2%

65+16%

Gender

49.1%

50.9%

Male49.1%

Female50.9%

Race & ethnicity

79.3%

White79.3%

Black5%

Hispanic9%

Asian2.2%

Other4.4%

Education (25+)

19.7%

63.8%

No HS diploma4.6%

HS diploma12%

Some college19.7%

Bachelor's+63.8%

Housing tenure

83.8%

16.2%

Owner83.8%

Renter16.2%

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

2023 vs 2026

How ZIP 55417 in Minneapolis, MN has changed in 5 years

Rent

$1,622 → $1,826

up 12.6%

Income

$107,586 → $126,261

up 17.4%

Population

25,610 → 25,102

down 2.0%

Renter share

18.3% → 16.2%

-2.1 pts

Bachelor's+

59.2% → 63.8%

+4.6 pts

Median age

39.5 → 41.1

+1.6 yrs

Since 2023, the typical rent in ZIP 55417 in Minneapolis, MN has increased from $1,622 to $1,826, a 12.6% change over five years. Median household income rose from $107,586 to $126,261 between 2021 and 2024, a 17.4% shift. On paper, paychecks moved up faster than rent, which softens the affordability squeeze versus the 2021 baseline. The population has contracted by 2.0% since 2021, moving from about 25,610 residents to roughly 25,102. Renters now make up 16.2% of households, compared with 18.3% five years ago. College-educated residents now make up 63.8% of adults here, versus 59.2% in 2021. Taken together, the five-year picture in ZIP 55417 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 55417

Last updated: October 17, 2026

ZIP code 55417 covers Minneapolis, MN. The median rent here is $1,826/mo as of October 2026. A 1-bedroom rents for a median of $1,390/mo. A 2-bedroom rents for a median of $1,690/mo.

At 17% of local median household income ($126,261/yr), ZIP 55417 ranks as affordable compared to the national benchmark of 30%. Rents have increased 3.8% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 55417?

To keep rent at or below 30% of gross income, you would need to earn at least $73,000/year (about $35/hour full-time) to afford the median rent of $1,826/mo in ZIP 55417. The local median household income is $126,261/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 55417?

Rent in ZIP 55417 has risen 3.8% over the past year as of September 2026. It sits 0.2% below its high of $1,829 in August 2026.

How does ZIP 55417 compare to other ZIPs in Minnesota?

ZIP 55417 is one of the pricier among Minnesota ZIP codes for rent, ranking #40 of 123 at $1,826/mo. Over the year to September 2026, rent in ZIP 55417 changed +3.8%, against a typical +3.4% across the 102 Minnesota ZIP codes Zillow tracks.