ZIP 55438
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Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).
12-month history
Last updated: October 17, 2026
What the numbers show
Rent in ZIP 55438 is at its highest level since Zillow's records here began in February 2023.
Rent in ZIP 55438 changed +6.8% over the year to September 2026. Across the 102 Minnesota ZIP codes Zillow tracks, the typical change was +3.4%.
Rent has risen 6 months in a row, and rose in 10 of the last 12 months.
30% of the median household income ($106,432) is $2,661 a month. That covers HUD's Fair Market Rent for up to a 3-bedroom ($2,460); a 4-bedroom is $2,750.
3rd cheapest of 4 ZIP codes in Bloomington.
ZIP 55423, 6 miles away, rents for 20% less ($1,396/mo), about $4,200 a year in savings.
From Zillow's monthly rent index (ZORI) for ZIP 55438. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
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.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How ZIP 55438 in Bloomington, MN has changed in 5 years
Five years ago, renters in ZIP 55438 in Bloomington, MN paid around $1,491 a month. That figure now sits near $1,749, up 17.3% from the 2023 baseline. Local incomes tracked alongside that move, going from a median of $87,737 in 2021 to $106,432 more recently. With wages climbing faster than rent over the same window, renters here have a bit more breathing room than they did five years back. Census counts show ZIP 55438 in Bloomington, MN losing about 1,062 residents over the five-year window, down 6.3% on net. These shifts give renters and would-be renters a longer baseline for sizing up today's listings against the ZIP 55438 in Bloomington, MN market of 2023.
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Tips for renters in ZIP 55438
Last updated: October 17, 2026
ZIP code 55438 covers Bloomington, MN. The median rent here is $1,749/mo as of October 2026. A 1-bedroom rents for a median of $1,530/mo. A 2-bedroom rents for a median of $1,860/mo.
At 20% of local median household income ($106,432/yr), ZIP 55438 ranks as affordable compared to the national benchmark of 30%. Rents have increased 6.8% over the past year.
Frequently asked questions
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Is rent going up or down in ZIP 55438?
How does ZIP 55438 compare to other ZIPs in Minnesota?
How does ZIP 55438 compare to the rest of Bloomington?
At $1,749/mo, rent takes ~20% of ZIP 55438's median household income ($106,432/yr). The standard benchmark is 30%.
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