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ZIP Code · MN

ZIP 55438

Pop. 15,701·Hennepin County·60th most expensive ZIP in Minnesota
Median rent (all units)
$1,692/mo
Year-over-Year
+1.6%
Month-over-Month
-1.3%
vs US Median
-$273
Falling (Monthly)
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Most AffordableMost Expensive
ZIP 55438 · $1,692
More affordable than 59% of US ZIP codes · National median $1,965/mo
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Medians by bedroom

Rent by unit size

Studio
$1,350
1 BR
$1,530
2 BR
$1,860
3 BR
$2,460
4 BR+
$2,750
Research median
$1,860/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
$20,304/yr
At $1,692/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 (+1.6% YoY, -1.3% MoM), not inventory.
Demographics

Who lives here

ZIP 55438 (Bloomington, MN) is majority owner-occupied, has a large retiree population, has a median income above the national average, 56.4% of residents hold a bachelor's degree or higher.

Population
15,701
Median income
$106,432
Median age
44.5
Renters
21.2%
Age distribution
18%
19.6%
24.2%
26.7%
Under 1818%
18–3419.6%
35–5424.2%
55–6411.6%
65+26.7%
Gender
47.8%
52.2%
Male47.8%
Female52.2%
Race & ethnicity
79.9%
White79.9%
Black7.3%
Hispanic5.6%
Asian3.9%
Other3.3%
Education (25+)
14.4%
26.8%
56.4%
No HS diploma2.4%
HS diploma14.4%
Some college26.8%
Bachelor's+56.4%
Housing tenure
78.8%
21.2%
Owner78.8%
Renter21.2%

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

2021 vs 2026

How ZIP 55438 in Bloomington, MN has changed in 5 years

Income
$87,737 → $106,432
up 21.3%
Population
16,763 → 15,701
down 6.3%
Renter share
22.2% → 21.2%
-1.0 pts
Bachelor's+
55.6% → 56.4%
+0.8 pts
Median age
44 → 44.5
+0.5 yrs

Local incomes tracked alongside that move, going from a median of $87,737 in 2021 to $106,432 more recently. Census counts show ZIP 55438 in Bloomington, MN losing about 1,062 residents over the five-year window, down 6.3% on net.

Community

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Local insights

Tips for renters in ZIP 55438

About renting in ZIP 55438

Last updated: July 20, 2026

ZIP code 55438 covers Bloomington, MN. The median rent here is $1,692/mo as of July 2026. A 1-bedroom rents for a median of $1,530/mo. A 2-bedroom rents for a median of $1,860/mo.

At 19% of local median household income ($106,432/yr), ZIP 55438 ranks as affordable compared to the national benchmark of 30%. Rents have increased 1.6% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 55438?

As of July 20, 2026, the median monthly rent in ZIP 55438 (Bloomington, MN) is $1,692. This is based on aggregated data from public sources and community submissions.

How does ZIP 55438 rent compare to the US average?

ZIP 55438's median rent of $1,692/mo is $273 (14%) below the US national median of $1,965/mo.

How does ZIP 55438 compare to other ZIPs in Minnesota?

ZIP 55438 falls in the middle range for Minnesota, ranking #60 out of 123 ZIPs at $1,692/mo.

How much income do you need to rent in ZIP 55438?

To keep rent at or below 30% of gross income, you would need to earn at least $68,000/year (~$33/hour full-time) to afford the median rent of $1,692/mo in ZIP 55438. The local median household income is $106,432/yr, meaning the typical household meets that threshold.

Is rent going up or down in ZIP 55438?

Rent in ZIP 55438 has increased 1.6% over the past year as of July 20, 2026, putting upward pressure on renter budgets.

Is ZIP 55438 an affordable place to rent?

ZIP 55438 is considered very affordable for renters. At $1,692/mo, rent takes approximately 19% of the local median household income ($106,432/yr). The standard benchmark is 30%. ZIP 55438 falls comfortably within that range.

What percentage of ZIP 55438 residents rent vs. own?

According to Census data, approximately 21.2% of ZIP 55438 households are renters, while 78.8% are owner-occupied. ZIP 55438 leans toward homeownership, which can mean a smaller rental inventory.

How does ZIP 55438 compare to the rest of Bloomington?

ZIP 55438 is pricier than Bloomington as a whole. At $1,692/mo, it's $8 above the Bloomington citywide median of $1,684/mo.

When was rent data for ZIP 55438 last updated?

Rent data for ZIP 55438 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
19%
VERY AFFORDABLE

At $1,692/mo, rent takes ~19% of ZIP 55438's median household income ($106,432/yr). The standard benchmark is 30%.

ZIP 55438 19%Benchmark 30%
State income tax5.35–9.85%
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Schools nearby

Public schools near ZIP 55438 (Bloomington, MN)

Recent submissions

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