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ZIP Code · MN

ZIP 55906

Pop. 20,437·Olmsted County·77th most expensive ZIP in Minnesota
Median rent (all units)
$1,546/mo
Year-over-Year
+27.4%
Month-over-Month
+7.9%
vs US Median
-$419
Rising (Monthly)
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Most AffordableMost Expensive
ZIP 55906 · $1,546
More affordable than 70% of US ZIP codes · National median $1,965/mo
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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: July 20, 2026

Annual cost
$18,552/yr
At $1,546/mo median
Location
StateMN
CountyOlmsted County
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 27.4% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (+27.4% YoY, +7.9% 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

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Local insights

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About renting in ZIP 55906

Last updated: July 20, 2026

ZIP code 55906 covers Rochester, MN. The median rent here is $1,546/mo as of July 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 27.4% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 55906?

As of July 20, 2026, the median monthly rent in ZIP 55906 (Rochester, MN) is $1,546. This is based on aggregated data from public sources and community submissions.

How does ZIP 55906 rent compare to the US average?

ZIP 55906's median rent of $1,546/mo is $419 (21%) below the US national median of $1,965/mo.

How does ZIP 55906 compare to other ZIPs in Minnesota?

ZIP 55906 falls in the middle range for Minnesota, ranking #77 out of 123 ZIPs at $1,546/mo.

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 (~$30/hour full-time) to afford the median rent of $1,546/mo in ZIP 55906. The local median household income is $93,685/yr, meaning the typical household meets that threshold.

Is rent going up or down in ZIP 55906?

Rent in ZIP 55906 has increased 27.4% over the past year as of July 20, 2026, putting upward pressure on renter budgets.

Is ZIP 55906 an affordable place to rent?

ZIP 55906 is considered very affordable for renters. At $1,546/mo, rent takes approximately 20% of the local median household income ($93,685/yr). The standard benchmark is 30%. ZIP 55906 falls comfortably within that range.

What percentage of ZIP 55906 residents rent vs. own?

According to Census data, approximately 25% of ZIP 55906 households are renters, while 75% are owner-occupied. ZIP 55906 leans toward homeownership, which can mean a smaller rental inventory.

How does ZIP 55906 compare to the rest of Rochester?

ZIP 55906 is more affordable than Rochester overall. At $1,546/mo, it's $156 below the Rochester citywide median of $1,702/mo.

When was rent data for ZIP 55906 last updated?

Rent data for ZIP 55906 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
20%
VERY AFFORDABLE

At $1,546/mo, rent takes ~20% of ZIP 55906's median household income ($93,685/yr). The standard benchmark is 30%.

ZIP 55906 20%Benchmark 30%
State income tax5.35–9.85%
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Schools nearby

Public schools near ZIP 55906 (Rochester, MN)

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