ZIP Code · MN

ZIP 55906

Part of Rochester, MN

Pop. 20,437·Olmsted County·84th most expensive ZIP in Minnesota

Median rent (all units)

$1,542/mo

Year-over-Year

+4.4%

Month-over-Month

-0.6%

vs US Median

-$390

Reported rents

Falling (Monthly)

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Most AffordableMost Expensive

ZIP 55906 · $1,542

More affordable than 70% of US ZIP codes · National median $1,932/mo

Rent check

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Compare your rent to the local median.

Medians by bedroom

Rent by unit size

Studio

$970

1 BR

$1,040

2 BR

$1,230

3 BR

$1,710

4 BR+

$2,060

Research median

$1,230/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

Past year vs. the rest of Minnesota

Rent in ZIP 55906 changed +4.4% over the year to September 2026. Across the 102 Minnesota ZIP codes Zillow tracks, the typical change was +3.4%.

Recent direction

Rent rose in 7 of the last 12 months.

What a typical income covers

30% of the median household income ($93,685) is $2,342 a month. That covers HUD's Fair Market Rent for up to a 4-bedroom ($2,060).

Rank in Rochester

1st cheapest of 4 ZIP codes in Rochester.

From Zillow's monthly rent index (ZORI) for ZIP 55906. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$18,504/yr

At $1,542/mo median

Location

CityRochester

StateMN

CountyOlmsted County

Rent Market Meter

Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are climbing (4.4% YoY), so leverage tilts toward landlords. Act sooner rather than later.

Based on rent-price momentum (+4.4% YoY, -0.6% MoM), not inventory.

Demographics

Who lives here

ZIP 55906 (Rochester, MN) is majority owner-occupied, has a median income above the national average, 53.6% of residents hold a bachelor's degree or higher.

Population

20,437

Median income

$93,685

Median age

42.1

Renters

25%

Age distribution

22.1%

18.6%

26%

13.9%

19.5%

Under 1822.1%

18–3418.6%

35–5426%

55–6413.9%

65+19.5%

Gender

48.1%

51.9%

Male48.1%

Female51.9%

Race & ethnicity

75.5%

White75.5%

Black8.8%

Hispanic5%

Asian6.8%

Other3.9%

Education (25+)

14.4%

24.9%

53.6%

No HS diploma7.1%

HS diploma14.4%

Some college24.9%

Bachelor's+53.6%

Housing tenure

75%

25%

Owner75%

Renter25%

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

2021 vs 2026

How ZIP 55906 in Rochester, MN has changed in 5 years

Income

$96,403 → $93,685

down 2.8%

Population

19,791 → 20,437

up 3.3%

Renter share

21.5% → 25%

+3.5 pts

Bachelor's+

53.7% → 53.6%

-0.1 pts

Median age

42.7 → 42.1

-0.6 yrs

Median household income fell from $96,403 to $93,685 between 2021 and 2024, a 2.8% shift. Headcount in the area went from 19,791 to 20,437 between 2021 and 2024, a 3.3% change. About 25% of households rent today, against 21.5% in 2021.

Community

Discussions about ZIP 55906

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Local insights

Tips for renters in ZIP 55906

About renting in ZIP 55906

Last updated: October 17, 2026

ZIP code 55906 covers Rochester, MN. The median rent here is $1,542/mo as of October 2026. A 1-bedroom rents for a median of $1,040/mo. A 2-bedroom rents for a median of $1,230/mo.

At 20% of local median household income ($93,685/yr), ZIP 55906 ranks as affordable compared to the national benchmark of 30%. Rents have increased 4.4% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 55906?

To keep rent at or below 30% of gross income, you would need to earn at least $62,000/year (about $30/hour full-time) to afford the median rent of $1,542/mo in ZIP 55906. The local median household income is $93,685/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 55906?

Rent in ZIP 55906 has risen 4.4% over the past year.

How does ZIP 55906 compare to other ZIPs in Minnesota?

ZIP 55906 is one of the more affordable among Minnesota ZIP codes for rent, ranking #84 of 123 at $1,542/mo. Over the year to September 2026, rent in ZIP 55906 changed +4.4%, against a typical +3.4% across the 102 Minnesota ZIP codes Zillow tracks.