Rental market trends in Minneapolis, MN

Please reach out to press@rent.com for any media inquiries regarding this data.

Average Rent in Minneapolis, MN

Avg. Rent	Annual Change
Studio - $1,005	-14%
1 Bed - $1,248	-4%
2 Beds - $1,625	-10%

Last updated 3/22/2023

Average Apartment Cost in Minneapolis, MN

The average rent for apartments in Minneapolis, MN, is between $1,005 and $1,625 in 2023. For a studio apartment in Minneapolis, MN, the average rent is $1,005. When it comes to 1-bedroom apartments, the average rent in Minneapolis, MN, is $1,248. For a 2-bedroom apartment, the average rent is $1,625.

Apartment Rent Ranges in Minneapolis, MN

	Apartment Prices Proportion

		1%			21%			28%			22%			29%

Neighborhood Apartment Rent Trends in Minneapolis, MN

Neighborhood	Studio Avg Rent	Annual Change
Prospect Park	$1,469	+9%
Downtown East	$1,312	+50%
South St. Paul	$1,285	--
Downtown West	$1,252	+7%
Nokomis	$1,206	-1%
Uptown	$1,192	+69%
University	$1,185	-1%
Powderhorn Park	$1,155	--
Central Minneapolis	$1,115	-3%
Northeast Minneapolis	$1,077	+11%
Longfellow	$1,038	-1%
Seward	$1,036	+2%
Como	$1,029	-19%
Elwells	$1,029	--
West St. Paul	$1,029	-6%
West Calhoun	$1,025	+8%
Stevens Square	$1,010	-8%
Linden Hills	$1,000	--
Hiawatha	$997	+4%
Calhoun Isles	$995	+5%
Lowry Hill	$995	+21%
Lowry Hill East	$949	+14%
Central	$936	--
Elliot Park	$930	-28%
Southwest Minneapolis	$899	--
CARAG	$899	+13%
Lyn Lake	$899	-4%
Kingfield	$899	--
Stevens Square Historic District	$885	--
Whittier	$872	-21%
Powderhorn	$835	-26%
Lyndale	$825	+1%
Harrison	$800	--
Loring Park	$795	-31%
Phillips	$795	--
Ventura Village	$795	--
Marcy - Holmes	$720	-39%

Neighborhood	1 Bed Avg Rent	Annual Change
Central Minneapolis	$1,624	+11%
Prospect Park	$1,599	-2%
Nokomis	$1,561	+7%
South St. Paul	$1,552	--
Loring Park	$1,518	-9%
Uptown	$1,419	-22%
Downtown West	$1,327	+8%
Hiawatha	$1,314	-1%
Jordan	$1,300	--
Stevens Square	$1,295	+40%
Central	$1,295	--
Lyn Lake	$1,272	0%
Linden Hills	$1,250	+32%
West Calhoun	$1,245	+14%
West St. Paul	$1,243	-5%
Cedar-Riverside	$1,215	+10%
Calhoun Isles	$1,199	0%
University	$1,172	-8%
Powderhorn Park	$1,150	--
Como	$1,139	-1%
Seward	$1,135	-22%
East Isles	$1,125	+5%
Lowry Hill	$1,122	-29%
Windom Park	$1,115	-7%
Lyndale	$1,111	+17%
Phillips	$1,102	+5%
Camden	$1,095	+10%
Elwells	$1,089	--
Longfellow	$1,080	-18%
Northeast Minneapolis	$1,075	-11%
Holland	$1,075	--
Marcy - Holmes	$1,049	-18%
Lowry Hill East	$1,049	-16%
CARAG	$1,045	-1%
Stevens Square Historic District	$1,000	--
Whittier	$999	+2%
Powderhorn	$999	0%
Southwest Minneapolis	$999	+6%
Kingfield	$999	+12%
Ventura Village	$975	-25%
Harrison	$975	-7%

Neighborhood	2 Beds Avg Rent	Annual Change
Central Minneapolis	$2,606	+9%
Uptown	$2,497	-10%
Warehouse District	$2,449	+4%
South St. Paul	$2,350	+96%
Loring Park	$2,300	+9%
Downtown West	$2,211	-33%
Lyn Lake	$2,037	+1%
Nokomis	$1,845	+5%
Hiawatha	$1,822	+3%
Lowry Hill	$1,795	-9%
Windom Park	$1,725	+5%
Northeast Minneapolis	$1,699	+3%
Longfellow	$1,695	-6%
Calhoun Isles	$1,600	-26%
Lowry Hill East	$1,600	+33%
Kingfield	$1,595	+7%
West St. Paul	$1,562	-8%
Como	$1,500	-3%
Central	$1,469	+18%
Phillips	$1,417	-14%
Linden Hills	$1,412	--
Seward	$1,400	-22%
West Calhoun	$1,395	0%
Southwest Minneapolis	$1,387	-7%
Ventura Village	$1,379	-16%
Cedar-Riverside	$1,350	+1%
CARAG	$1,349	+8%
East Isles	$1,349	-9%
Hawthorne	$1,300	--
Jordan	$1,300	--
Stevens Square	$1,295	-30%
Camden	$1,280	-1%
Stevens Square Historic District	$1,250	--
Whittier	$1,225	+1%
Powderhorn	$1,225	-1%
Lyndale	$1,200	-6%
Holland	$1,200	--
Powderhorn Park	$1,200	--
Elwells	$1,199	--
University	$1,060	-22%
Prospect Park	$1,055	-50%
Marcy - Holmes	$1,050	-28%
Harrison	$1,050	--

How Other Cities Compare to Minneapolis, MN

City	Studio Avg Rent	Annual Change
Woodbury	$1,669	+7%
Eden Prairie	$1,649	+6%
Maple Grove	$1,505	+14%
Shakopee	$1,432	+12%
Shoreview	$1,425	--
Richfield	$1,412	-1%
Lakeville	$1,412	-8%
Brooklyn Park	$1,400	-20%
Eagan	$1,357	-2%
Forest Lake	$1,313	+68%
Burnsville	$1,217	+2%
Edina	$1,200	+2%
Northfield	$1,150	--
Saint Paul	$1,140	0%
Apple Valley	$1,120	0%
Minnetonka	$1,075	-8%
Bloomington	$1,056	+21%
Hopkins	$1,022	0%
Saint Louis Park	$1,017	+1%
Coon Rapids	$948	-2%
Maplewood	$942	--
Roseville	$940	+7%
Plymouth	$912	0%

City	1 Bed Avg Rent	Annual Change
Woodbury	$1,758	+2%
Shoreview	$1,708	0%
Maple Grove	$1,700	+3%
Bloomington	$1,690	0%
Brooklyn Park	$1,625	+60%
Lakeville	$1,605	+7%
Shakopee	$1,591	+10%
Eagan	$1,570	+1%
Coon Rapids	$1,523	+32%
Blaine	$1,489	+6%
Eden Prairie	$1,484	+7%
Apple Valley	$1,400	-24%
Minnetonka	$1,390	0%
Edina	$1,387	0%
Forest Lake	$1,387	0%
Plymouth	$1,380	-12%
Maplewood	$1,354	+5%
Burnsville	$1,337	-5%
Richfield	$1,327	0%
Saint Paul	$1,264	-6%
Saint Louis Park	$1,194	+6%
Hopkins	$1,109	0%
Roseville	$1,050	+5%

City	2 Beds Avg Rent	Annual Change
Bloomington	$2,287	-2%
Woodbury	$2,129	-3%
Lakeville	$2,065	+7%
Brooklyn Park	$2,050	+7%
Maple Grove	$2,030	-1%
Edina	$1,910	+12%
Minnetonka	$1,895	+43%
Shakopee	$1,895	+5%
Eagan	$1,857	-10%
Plymouth	$1,760	-2%
Apple Valley	$1,750	+1%
Eden Prairie	$1,736	+3%
Maplewood	$1,689	+7%
Forest Lake	$1,683	+7%
Richfield	$1,675	0%
Blaine	$1,597	+1%
Burnsville	$1,592	-4%
Saint Paul	$1,533	-5%
Roseville	$1,459	+12%
Saint Louis Park	$1,450	0%
Hopkins	$1,449	+16%
Shoreview	$1,399	-26%
Coon Rapids	$1,346	+1%
Northfield	$1,067	+15%

Minneapolis, MN Rent Trends

Studio	1 Bed	2 Beds
Mar 2022	Apr 2022	May 2022	Jun 2022	Jul 2022	Aug 2022	Sep 2022	Oct 2022	Nov 2022	Dec 2022	Jan 2023	Feb 2023	Mar 2023
$1162	$1162	$1162	$1160	$1090	$1062	$1022	$1025	$1105	$1122	$1037	$992	$1003
$1305	$1310	$1320	$1302	$1265	$1260	$1187	$1232	$1275	$1329	$1238	$1222	$1248
$1722	$1722	$1625	$1645	$1595	$1625	$1612	$1640	$1675	$1667	$1612	$1600	$1637
$2175	$2125	$2100	$2075	$1925	$2049	$1972	$1900	$1950	$1985	$1995	$1975	$1995

Neighborhood Information for Minneapolis, MN

What are the most affordable neighborhoods in Minneapolis, MN?

The most affordable neighborhoods in Minneapolis are Ventura Village, where the average 1-bedroom apartment rent goes for $975, Harrison, where renters pay $975 on average for a 1-bedroom apartment, and Whittier, where the average 1-bedroom apartment rent goes for $999. If you're looking for other great deals, check out the listings in Powderhorn ($999 for a 1-bedroom apartment) or Southwest Minneapolis ($999 for a 1-bedroom apartment), compared to the $1,248 average for a Minneapolis 1-bedroom apartment.