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ZIP Code · MN

ZIP 55417

Pop. 25,102·Hennepin County·15th most expensive ZIP in Minnesota
Median rent (all units)
$2,028/mo
Year-over-Year
+12.5%
Month-over-Month
-4.2%
vs US Median
+$63
Falling (Monthly)
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Most AffordableMost Expensive
ZIP 55417 · $2,028
More expensive than 62% of US ZIP codes · National median $1,965/mo
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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: July 20, 2026

Annual cost
$24,336/yr
At $2,028/mo median
Location
StateMN
CountyHennepin County
Rent Market Meter
Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are climbing (12.5% YoY), so leverage tilts toward landlords. Act sooner rather than later.
Based on rent-price momentum (+12.5% YoY, -4.2% 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

2021 vs 2026

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

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

Median household income rose from $107,586 to $126,261 between 2021 and 2024, a 17.4% shift. 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.

Community

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Local insights

Tips for renters in ZIP 55417

About renting in ZIP 55417

Last updated: July 20, 2026

ZIP code 55417 covers Minneapolis, MN. The median rent here is $2,028/mo as of July 2026. A 1-bedroom rents for a median of $1,390/mo. A 2-bedroom rents for a median of $1,690/mo.

At 19% of local median household income ($126,261/yr), ZIP 55417 ranks as affordable compared to the national benchmark of 30%. Rents have increased 12.5% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 55417?

As of July 20, 2026, the median monthly rent in ZIP 55417 (Minneapolis, MN) is $2,028. This is based on aggregated data from public sources and community submissions.

How does ZIP 55417 rent compare to the US average?

ZIP 55417's median rent of $2,028/mo is $63 (3%) above the US national median of $1,965/mo.

How does ZIP 55417 compare to other ZIPs in Minnesota?

ZIP 55417 is one of the pricier ZIP codes in Minnesota, ranking #15 out of 123 ZIPs tracked at $2,028/mo.

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 $81,000/year (~$39/hour full-time) to afford the median rent of $2,028/mo in ZIP 55417. The local median household income is $126,261/yr, meaning the typical household meets that threshold.

Is rent going up or down in ZIP 55417?

Rent in ZIP 55417 has increased 12.5% over the past year as of July 20, 2026, putting upward pressure on renter budgets.

Is ZIP 55417 an affordable place to rent?

ZIP 55417 is considered very affordable for renters. At $2,028/mo, rent takes approximately 19% of the local median household income ($126,261/yr). The standard benchmark is 30%. ZIP 55417 falls comfortably within that range.

What percentage of ZIP 55417 residents rent vs. own?

According to Census data, approximately 16.2% of ZIP 55417 households are renters, while 83.8% are owner-occupied. ZIP 55417 leans toward homeownership, which can mean a smaller rental inventory.

How does ZIP 55417 compare to the rest of Minneapolis?

ZIP 55417 is pricier than Minneapolis as a whole. At $2,028/mo, it's $342 above the Minneapolis citywide median of $1,686/mo.

When was rent data for ZIP 55417 last updated?

Rent data for ZIP 55417 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
19%
VERY AFFORDABLE

At $2,028/mo, rent takes ~19% of ZIP 55417's median household income ($126,261/yr). The standard benchmark is 30%.

ZIP 55417 19%Benchmark 30%
State income tax5.35–9.85%
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Schools nearby

Public schools near ZIP 55417 (Minneapolis, MN)

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