ZIP Code · MN

ZIP 55418

Part of Minneapolis, MN

Pop. 31,505·Hennepin County·51st most expensive ZIP in Minnesota

Median rent (all units)

$1,760/mo

Year-over-Year

+4.3%

Month-over-Month

+0.7%

vs US Median

-$172

Reported rents

Rising (Monthly)

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Most AffordableMost Expensive

ZIP 55418 · $1,760

More affordable than 54% of US ZIP codes · National median $1,932/mo

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Compare your rent to the local median.

Medians by bedroom

Rent by unit size

Studio

$1,250

1 BR

$1,410

2 BR

$1,720

3 BR

$2,280

4 BR+

$2,550

Research median

$1,720/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

Cheapest month to sign

February. Asking rents in ZIP 55418 usually run 0.9% below trend in February and 1.1% above it in July, about $35 a month apart at today's median. Based on 5 years of data.

Compared with the peak

Rent in ZIP 55418 is at its highest level since Zillow's records here began in January 2021.

Past year vs. the rest of Minnesota

Rent in ZIP 55418 changed +4.3% 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 3 months in a row, and rose in 10 of the last 12 months.

What a typical income covers

30% of the median household income ($99,397) is $2,485 a month. That covers HUD's Fair Market Rent for up to a 3-bedroom ($2,280); a 4-bedroom is $2,550.

Rank in Minneapolis

11th cheapest of 19 ZIP codes in Minneapolis.

Cheaper nearby

ZIP 55403, 4 miles away, rents for 19% less ($1,420/mo), about $4,100 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 55418. 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.

Annual cost

$21,120/yr

At $1,760/mo median

Location

CityMinneapolis

StateMN

CountyHennepin County

Rent Market Meter

Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are climbing (4.3% YoY), so leverage tilts toward landlords. Act sooner rather than later.

Based on rent-price momentum (+4.3% YoY, +0.7% MoM), not inventory.

Demographics

Who lives here

ZIP 55418 (Minneapolis, MN) is majority owner-occupied, has a median income above the national average, 54.3% of residents hold a bachelor's degree or higher.

Population

31,505

Median income

$99,397

Median age

37.2

Renters

33.7%

Age distribution

20.4%

25.4%

30.9%

14.6%

Under 1820.4%

18–3425.4%

35–5430.9%

55–648.8%

65+14.6%

Gender

52.3%

47.7%

Male52.3%

Female47.7%

Race & ethnicity

75.4%

White75.4%

Black9.5%

Hispanic7.2%

Asian3%

Other4.9%

Education (25+)

15.2%

24.8%

54.3%

No HS diploma5.6%

HS diploma15.2%

Some college24.8%

Bachelor's+54.3%

Housing tenure

66.3%

33.7%

Owner66.3%

Renter33.7%

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

2021 vs 2026

How ZIP 55418 in Minneapolis, MN has changed in 5 years

Rent

$1,393 → $1,760

up 26.3%

Income

$80,600 → $99,397

up 23.3%

Population

31,136 → 31,505

up 1.2%

Renter share

37.3% → 33.7%

-3.6 pts

Bachelor's+

49.9% → 54.3%

+4.4 pts

Across the past five years, the going rent in ZIP 55418 in Minneapolis, MN has shifted from $1,393 to $1,760, up 26.3% since 2021. Household income in the area moved from $80,600 to $99,397 across the same window, up 23.3% versus 2021. Because rent grew faster than wages over the same span, the affordability picture has tightened relative to 2021. Census counts show ZIP 55418 in Minneapolis, MN adding about 369 residents over the five-year window, up 1.2% on net. The renter share has eased from 37.3% to 33.7%, with owner-occupied housing accounting for the remainder. Bachelor's-degree-or-higher attainment moved from 49.9% to 54.3% across the same window. Reading these numbers side by side helps frame whether current listings in ZIP 55418 in Minneapolis, MN look reasonable against where the market sat half a decade ago.

Community

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Local insights

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About renting in ZIP 55418

Last updated: October 17, 2026

ZIP code 55418 covers Minneapolis, MN. The median rent here is $1,760/mo as of October 2026. A 1-bedroom rents for a median of $1,410/mo. A 2-bedroom rents for a median of $1,720/mo.

At 21% of local median household income ($99,397/yr), ZIP 55418 ranks as affordable compared to the national benchmark of 30%. Rents have increased 4.3% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 55418?

To keep rent at or below 30% of gross income, you would need to earn at least $70,000/year (about $34/hour full-time) to afford the median rent of $1,760/mo in ZIP 55418. The local median household income is $99,397/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 55418?

Rent in ZIP 55418 has risen 4.3% over the past year as of September 2026. That is the highest level since Zillow's records here began in January 2021.

When is the cheapest time to rent in ZIP 55418?

Asking rents in ZIP 55418 are usually lowest in February, about 0.9% below their yearly trend, and highest in July, about 1.1% above it. At today's median that is a gap of roughly $35 a month. This pattern comes from 5 years of Zillow rent data.

How does ZIP 55418 compare to other ZIPs in Minnesota?

ZIP 55418 is in the middle among Minnesota ZIP codes for rent, ranking #51 of 123 at $1,760/mo. Over the year to September 2026, rent in ZIP 55418 changed +4.3%, against a typical +3.4% across the 102 Minnesota ZIP codes Zillow tracks.