ZIP Code · MN

ZIP 55454

Part of Minneapolis, MN

Pop. 8,880·Hennepin County·41st most expensive ZIP in Minnesota

Median rent (all units)

$1,823/mo

Year-over-Year

Stable

Month-over-Month

-1.0%

vs US Median

-$109

Reported rents

Falling (Monthly)

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Most AffordableMost Expensive

ZIP 55454 · $1,823

More expensive than 51% 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

$1,100

1 BR

$1,250

2 BR

$1,520

3 BR

$2,020

4 BR+

$2,270

Research median

$1,520/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

What a typical income covers

30% of the median household income ($23,100) is $578 a month. That is less than HUD's Fair Market Rent for a studio ($1,100).

Rank in Minneapolis

14th cheapest of 19 ZIP codes in Minneapolis.

Cheaper nearby

ZIP 55404, 1 mile away, rents for 20% less ($1,461/mo), about $4,300 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 55454. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$21,876/yr

At $1,823/mo median

Location

CityMinneapolis

StateMN

CountyHennepin County

Rent Market Meter

Renter's Market

Renter's MarketBalancedLandlord's Market

Rents are softening (down 0.0% YoY), so renters have negotiating leverage.

Based on rent-price momentum (+0.0% YoY, -1.0% MoM), not inventory.

Demographics

Who lives here

ZIP 55454 (Minneapolis, MN) is majority renter-occupied, skews toward younger working-age adults, has a median income below the national average, 22.9% of residents hold a bachelor's degree or higher.

Population

8,880

Median income

$23,100

Median age

25.8

Renters

91.8%

Age distribution

23.8%

40.1%

20.5%

Under 1823.8%

18–3440.1%

35–5420.5%

55–644.2%

65+11.4%

Gender

46.7%

53.3%

Male46.7%

Female53.3%

Race & ethnicity

23.2%

61.1%

White23.2%

Black61.1%

Hispanic4%

Asian6.3%

Other5.4%

Education (25+)

33.8%

25.8%

17.5%

22.9%

No HS diploma33.8%

HS diploma25.8%

Some college17.5%

Bachelor's+22.9%

Housing tenure

91.8%

Owner8.2%

Renter91.8%

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

2021 vs 2026

How ZIP 55454 in Minneapolis, MN has changed in 5 years

Income

$23,634 → $23,100

down 2.3%

Population

8,739 → 8,880

up 1.6%

Renter share

89% → 91.8%

+2.8 pts

Bachelor's+

28.5% → 22.9%

-5.6 pts

Median age

23.7 → 25.8

+2.1 yrs

On the earnings side, the typical household in ZIP 55454 in Minneapolis, MN now reports about $23,100, up from $23,634 in 2021. The population has grown by 1.6% since 2021, moving from about 8,739 residents to roughly 8,880. Renters now make up 91.8% of households, compared with 89% five years ago. College-educated residents now make up 22.9% of adults here, versus 28.5% in 2021.

Community

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Local insights

Tips for renters in ZIP 55454

About renting in ZIP 55454

Last updated: October 17, 2026

ZIP code 55454 covers Minneapolis, MN. The median rent here is $1,823/mo as of October 2026. A 1-bedroom rents for a median of $1,250/mo. A 2-bedroom rents for a median of $1,520/mo.

At 95% of local median household income ($23,100/yr), ZIP 55454 ranks as expensive compared to the national benchmark of 30%. Rent prices have stayed steady over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 55454?

To keep rent at or below 30% of gross income, you would need to earn at least $73,000/year (about $35/hour full-time) to afford the median rent of $1,823/mo in ZIP 55454. The local median household income is $23,100/yr, so the typical household falls short of that bar.