Minneapolis, MN Rental Market Trends
Last updated: March 30, 2026 | Source: RentCafe Market Analysis, Yardi Matrix, U.S. Census Bureau
Highlights
The average rent for an apartment in Minneapolis is $1,689, a 1.99% increase compared to the previous year, when the average rent was $1,656.
Studio Apartments at $1,205 offer the most budget-friendly option with 463 square feet, ideal for single renters prioritizing location over space.
One-bedroom apartments provide 679 square feet for $1,504, balancing privacy and affordability.
Two-beedroom units at $2,078 offer 1,016 square feet, perfect for roommates or small families.
Three-bedroom apartments deliver maximum space (1,282 sq ft) for $2,441, suitable for larger households.
Average rent in Minneapolis, MN
Last updated: March 30, 2026
| Average Rent | Average Apartment Size | |
|---|---|---|
| All Rentals | $1,689 | 779 sq. ft. |
| Studio | $1,205 | 463 sq. ft. |
| 1 Bed | $1,504 | 679 sq. ft. |
| 2 Beds | $2,078 | 1,016 sq. ft. |
| 3 Beds | $2,441 | 1,282 sq. ft. |
Minneapolis, MN rent trends
Rental prices in Minneapolis, MN have increased by 1.99% over the past year. The average rent moved from $1,656 to $1,689.
What's the typical rent budget in Minneapolis, MN?
The largest share of rentals in Minneapolis, MN (39%) fall between $1,001-$1,500 per month. This suggests that most people succesfully find suitable apartments within this price.
Do most people rent or own in Minneapolis, MN?
100,754 or 52% of the households in Minneapolis, MN are renter-occupied while 91,980 or 48% are owner-occupied.
Most affordable neighborhoods in Minneapolis?
Stevens Square - Loring Heights $1,038/month
Wenoah $1,096/month
Ventura Village $1,138/month
All of these neighborhoods fall below the city wide average of $1,689/month.Most expensive neighborhoods in Minneapolis?
North Loop $2,112/month
Nicollet Island - East Bank $2,136/month
Cedar - Isles - Dean $2,564/month
These neighborhoods typically command higher rents due to location, amenities, and demand.Average Rent in Minneapolis, MN By Neighborhood
| Neighborhood | Average Rent |
|---|---|
| Cedar - Isles - Dean | $2,564 |
| Nicollet Island - East Bank | $2,136 |
| North Loop | $2,112 |
| Dinkytown | $2,104 |
| Downtown Minneapolis | $1,984 |
| Marcy Holmes | $1,971 |
| Prospect Park East River Road | $1,877 |
| Ericsson | $1,838 |
| Near North Minneapolis | $1,783 |
| Sheridan | $1,736 |
| Hiawatha | $1,716 |
| Bryn - Mawr | $1,714 |
| Uptown Minneapolis | $1,699 |
| Standish | $1,663 |
| St. Anthony | $1,656 |
| Marshall Terrace | $1,625 |
| King Field | $1,615 |
| Midtown Phillips | $1,601 |
| West Calhoun | $1,586 |
| Harrison | $1,512 |
| Bottineau | $1,505 |
| Robbinsdale | $1,483 |
| Windom | $1,448 |
| Loring Park | $1,438 |
| Cedar Riverside | $1,438 |
| Lowry Hill | $1,424 |
| Richfield | $1,412 |
| Howe | $1,374 |
| Corcoran | $1,363 |
| Phillips West | $1,361 |
| Brooklyn Center | $1,337 |
| Linden Hills | $1,324 |
| Whittier | $1,320 |
| Longfellow | $1,307 |
| Tangletown | $1,280 |
| Seward | $1,242 |
| CARAG | $1,202 |
| Ventura Village | $1,138 |
| Wenoah | $1,096 |
| Stevens Square - Loring Heights | $1,038 |
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Minneapolis | Rent Comparison by Neighborhood
Rent in Bottineau is 13% higher than in Brooklyn Center
$1,505
Bottineau rent is 11% lower than Minneapolis average
Average Rent
$1,505
$1,337
Brooklyn Center rent is 21% lower than Minneapolis average
Average Rent
$1,337
How Minneapolis Compares to Other Cities
| City | Average Rent |
|---|---|
| Minneapolis | $1,689 |
| St. Paul | $1,528 |
| Moorhead | $1,078 |
| Rochester | $1,648 |
| St. Cloud | $1,182 |
| Bloomington | $1,673 |
| Mankato | $1,417 |
| St. Louis Park | $1,767 |
| Edina | $1,839 |
| Eagan | $1,688 |
| Minnetonka | $2,001 |
| Plymouth, MN | $1,694 |
| Burnsville | $1,551 |
| Eden Prairie | $1,731 |
| Coon Rapids | $1,518 |
| Maplewood | $1,459 |
| Roseville | $1,445 |
| Maple Grove, MN | $2,169 |
| West St. Paul | $1,350 |
| Hopkins, MN | $1,588 |
| Brooklyn Park | $1,352 |
Where this data comes from
The rental statistics on this page were compiled by RentCafe.com, a nationwide apartment search website trusted by millions of renters to find apartments and houses for rent throughout the U.S.
Rent prices, trends, and apartment sizes were calculated based on data from our sister company, Yardi Matrix, an apartment market intelligence solution that covers approximately 90% of the U.S. metro area population. The data includes comprehensive information on all Minneapolis apartment buildings with 50 or more units, totaling 23.5 million apartments across 181 U.S. markets.
Housing composition data was sourced from the U.S. Census Bureau, using the most recently available information by tenure.