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ZIP Code · MN

ZIP 55431

Pop. 18,664·Hennepin County·55th most expensive ZIP in Minnesota
Median rent (all units)
$1,719/mo
Year-over-Year
+2.1%
Month-over-Month
-1.1%
vs US Median
-$246
Falling (Monthly)
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Most AffordableMost Expensive
ZIP 55431 · $1,719
More affordable than 57% of US ZIP codes · National median $1,965/mo
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Medians by bedroom

Rent by unit size

Studio
$1,530
1 BR
$1,730
2 BR
$2,100
3 BR
$2,780
4 BR+
$3,110
Research median
$2,100/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
$20,628/yr
At $1,719/mo median
Location
StateMN
CountyHennepin County
Rent Market Meter
Balanced Market
Renter's MarketBalancedLandlord's Market
Rents are roughly steady, with neither renters nor landlords holding a strong edge right now.
Based on rent-price momentum (+2.1% YoY, -1.1% MoM), not inventory.
Demographics

Who lives here

ZIP 55431 (Bloomington, MN) is majority owner-occupied, has a large retiree population, has a median income above the national average, 49.1% of residents hold a bachelor's degree or higher.

Population
18,664
Median income
$101,484
Median age
43.6
Renters
32.6%
Age distribution
16.7%
23%
25.3%
12.6%
22.5%
Under 1816.7%
18–3423%
35–5425.3%
55–6412.6%
65+22.5%
Gender
47.5%
52.5%
Male47.5%
Female52.5%
Race & ethnicity
73.8%
White73.8%
Black5.2%
Hispanic6.9%
Asian7.6%
Other6.5%
Education (25+)
15.4%
28.9%
49.1%
No HS diploma6.6%
HS diploma15.4%
Some college28.9%
Bachelor's+49.1%
Housing tenure
67.4%
32.6%
Owner67.4%
Renter32.6%

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

2021 vs 2026

How ZIP 55431 in Bloomington, MN has changed in 5 years

Income
$96,486 → $101,484
up 5.2%
Population
19,501 → 18,664
down 4.3%
Renter share
30.3% → 32.6%
+2.3 pts
Bachelor's+
45% → 49.1%
+4.1 pts
Median age
45.1 → 43.6
-1.5 yrs

Median household income rose from $96,486 to $101,484 between 2021 and 2024, a 5.2% shift. The population has contracted by 4.3% since 2021, moving from about 19,501 residents to roughly 18,664. Renters now make up 32.6% of households, compared with 30.3% five years ago. College-educated residents now make up 49.1% of adults here, versus 45% in 2021.

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Local insights

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About renting in ZIP 55431

Last updated: July 20, 2026

ZIP code 55431 covers Bloomington, MN. The median rent here is $1,719/mo as of July 2026. A 1-bedroom rents for a median of $1,730/mo. A 2-bedroom rents for a median of $2,100/mo.

At 20% of local median household income ($101,484/yr), ZIP 55431 ranks as affordable compared to the national benchmark of 30%. Rents have increased 2.1% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 55431?

As of July 20, 2026, the median monthly rent in ZIP 55431 (Bloomington, MN) is $1,719. This is based on aggregated data from public sources and community submissions.

How does ZIP 55431 rent compare to the US average?

ZIP 55431's median rent of $1,719/mo is $246 (13%) below the US national median of $1,965/mo.

How does ZIP 55431 compare to other ZIPs in Minnesota?

ZIP 55431 falls in the middle range for Minnesota, ranking #55 out of 123 ZIPs at $1,719/mo.

How much income do you need to rent in ZIP 55431?

To keep rent at or below 30% of gross income, you would need to earn at least $69,000/year (~$33/hour full-time) to afford the median rent of $1,719/mo in ZIP 55431. The local median household income is $101,484/yr, meaning the typical household meets that threshold.

Is rent going up or down in ZIP 55431?

Rent in ZIP 55431 has increased 2.1% over the past year as of July 20, 2026, putting upward pressure on renter budgets.

Is ZIP 55431 an affordable place to rent?

ZIP 55431 is considered very affordable for renters. At $1,719/mo, rent takes approximately 20% of the local median household income ($101,484/yr). The standard benchmark is 30%. ZIP 55431 falls comfortably within that range.

What percentage of ZIP 55431 residents rent vs. own?

According to Census data, approximately 32.6% of ZIP 55431 households are renters, while 67.4% are owner-occupied. ZIP 55431 leans toward homeownership, which can mean a smaller rental inventory.

How does ZIP 55431 compare to the rest of Bloomington?

ZIP 55431 is pricier than Bloomington as a whole. At $1,719/mo, it's $35 above the Bloomington citywide median of $1,684/mo.

When was rent data for ZIP 55431 last updated?

Rent data for ZIP 55431 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
20%
VERY AFFORDABLE

At $1,719/mo, rent takes ~20% of ZIP 55431's median household income ($101,484/yr). The standard benchmark is 30%.

ZIP 55431 20%Benchmark 30%
State income tax5.35–9.85%
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