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Rental market trends in Minneapolis, MN

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Average Rent in Minneapolis, MN

Average Rent in Minneapolis, MN

Avg. RentAnnual Change
Studio - $1,030-1%
1 Bed - $1,482+20%
2 Beds - $2,098+30%
Last updated 2/23/2024

Average Apartment Cost in Minneapolis, MN

The average rent for apartments in Minneapolis, MN, is between $1,030 and $2,098 in 2024. For a studio apartment in Minneapolis, MN, the average rent is $1,030. When it comes to 1-bedroom apartments, the average rent in Minneapolis, MN, is $1,482. For a 2-bedroom apartment, the average rent is $2,098.

Apartment Rent Ranges in Minneapolis, MN

Apartment PricesProportion
0%
19%
27%
21%
33%

Neighborhood Apartment Rent Trends in Minneapolis, MN

NeighborhoodStudio Avg RentAnnual Change
West Calhoun$1,675+60%
Warehouse District$1,600+3%
University of Minnesota$1,405+102%
Northeast Minneapolis$1,400+21%
South St. Paul$1,335+4%
Prospect Park$1,317-9%
Downtown West$1,275-6%
Downtown East$1,263+28%
Nokomis$1,250+6%
Uptown$1,218+6%
Cedar Isles - Dean$1,199-21%
Calhoun Isles$1,179+18%
University$1,135+10%
West St. Paul$1,130+10%
Seward$1,120+8%
Longfellow$1,059+2%
Marcy - Holmes$1,045+38%
Central$1,013+7%
Cedar-Riverside$1,012--
Linden Hills$1,0000%
Como$1,000-3%
Lyn Lake$999+11%
Hiawatha$9970%
Southwest Minneapolis$959-4%
Lowry Hill East$9490%
Sheridan$925--
CARAG$922+3%
Lowry Hill$910-1%
Holland$905--
Central Minneapolis$902-30%
Powderhorn$8990%
Whittier$899-3%
Loring Park$849-26%
Stevens Square$849+6%
Harrison$849+6%
Elliot Park$847-6%
Ventura Village$845+6%
Phillips$845+6%
Lyndale$820+9%
Elwells$735-29%
Neighborhood1 Bed Avg RentAnnual Change
Cedar Isles - Dean$1,979+15%
Downtown East$1,958+3%
West Calhoun$1,812+52%
Warehouse District$1,760-2%
South St. Paul$1,712+12%
Prospect Park$1,665+46%
Northeast Minneapolis$1,637+47%
Central Minneapolis$1,626-2%
Calhoun Isles$1,618+31%
Near North$1,592--
Loring Park$1,582+3%
University of Minnesota$1,569+108%
Nokomis$1,531-1%
Hiawatha$1,522+11%
Cedar-Riverside$1,492+18%
University$1,490+35%
Downtown West$1,380-9%
Longfellow$1,378+20%
West St. Paul$1,322+6%
Phillips$1,310+19%
Como$1,300+18%
Linden Hills$1,250+6%
Elwells$1,238+18%
Sheridan$1,200--
Lyn Lake$1,164-7%
Southwest Minneapolis$1,162+17%
CARAG$1,150+20%
Lowry Hill$1,1220%
Uptown$1,095-23%
Holland$1,075--
Elliot Park$1,050-34%
Phillips West$1,050-9%
Powderhorn Park$1,050--
Marcy - Holmes$1,049+15%
Lowry Hill East$1,049-16%
Lyndale$1,046-3%
Powderhorn$1,010+7%
Camden$1,000--
Harrison$999-5%
Central$995-21%
Whittier$990+7%
Stevens Square$949-3%
Ventura Village$900-8%
Seward$897-17%
Neighborhood2 Beds Avg RentAnnual Change
Kenwood$3,800--
North Loop$3,350--
Downtown East$3,262-2%
Calhoun Isles$2,847+67%
Uptown$2,815+50%
West Calhoun$2,687+93%
Central Minneapolis$2,564+4%
Warehouse District$2,498+4%
Linden Hills$2,450+69%
Southwest Minneapolis$2,450+69%
Near North$2,409--
Downtown West$2,300+6%
Prospect Park$2,170+106%
Loring Park$2,120+2%
South St. Paul$2,110-10%
University$1,995+85%
Hiawatha$1,970+8%
Longfellow$1,892+14%
Nokomis$1,808-5%
Stevens Square$1,740+27%
Seward$1,740+24%
Lowry Hill East$1,699+31%
Holland$1,665+39%
Northeast Minneapolis$1,637+2%
Powderhorn Park$1,599-6%
Lowry Hill$1,595-20%
West St. Paul$1,595+2%
Ventura Village$1,531-4%
Phillips$1,531+3%
Como$1,5000%
Lyn Lake$1,499-25%
Elliot Park$1,399-48%
CARAG$1,399+8%
Central$1,395-9%
Camden$1,350--
Sheridan$1,295-30%
Marcy - Holmes$1,2750%
Powderhorn$1,255+5%
Lyndale$1,235-15%
Whittier$1,215+10%
Harrison$1,200+3%
Phillips West$1,195--
Cedar-Riverside$1,100-19%
Elwells$1,100-21%
University of Minnesota$955+57%

How Other Cities Compare to Minneapolis, MN

CityStudio Avg RentAnnual Change
Eden Prairie$1,603+8%
Richfield$1,545+9%
Woodbury$1,516-4%
Bloomington$1,495+34%
Maple Grove$1,440-4%
Coon Rapids$1,425+43%
Eagan$1,410+4%
Lakeville$1,400+1%
Shakopee$1,332-4%
Brooklyn Park$1,325-2%
Minnetonka$1,323+10%
Hastings$1,300+97%
Burnsville$1,295+6%
Edina$1,247+10%
Crystal$1,095+4%
New Brighton$1,095-7%
Oakdale$1,094+14%
New Hope$1,060-7%
Saint Paul$1,035-9%
Hopkins$1,032+1%
Saint Louis Park$1,0250%
Plymouth$9120%
City1 Bed Avg RentAnnual Change
Eden Prairie$1,775+10%
Maple Grove$1,702+1%
Richfield$1,695+28%
Bloomington$1,680-4%
Eagan$1,671+8%
Lakeville$1,615+3%
Minnetonka$1,590+27%
Woodbury$1,574-6%
Edina$1,572+13%
Blaine$1,522+2%
Shakopee$1,515-5%
Hastings$1,497+88%
Coon Rapids$1,468+31%
Oakdale$1,444+16%
Plymouth$1,370-7%
Burnsville$1,3540%
New Brighton$1,333+8%
Saint Paul$1,274+4%
Crystal$1,225+4%
Saint Louis Park$1,172+2%
Hopkins$1,1090%
New Hope$1,087+9%
Brooklyn Park$1,065+3%
River Falls$900--
City2 Beds Avg RentAnnual Change
Eden Prairie$2,749+65%
Bloomington$2,442+4%
Richfield$2,295+37%
Maple Grove$2,169+8%
Lakeville$2,151+11%
Shakopee$2,132+13%
Oakdale$2,062+31%
Hastings$1,995+102%
Edina$1,980+15%
Eagan$1,975-2%
Minnetonka$1,952+31%
Coon Rapids$1,942+52%
Woodbury$1,924-9%
Plymouth$1,685-4%
Burnsville$1,670+6%
Hopkins$1,645+6%
New Brighton$1,579+7%
Blaine$1,569+1%
Saint Paul$1,5540%
Saint Louis Park$1,503+2%
Crystal$1,450+3%
Brooklyn Park$1,4300%
New Hope$1,340+2%
River Falls$1,200--

Minneapolis, MN Rent Trends

Studio1 Bed2 Beds
Feb 2023Mar 2023Apr 2023May 2023Jun 2023Jul 2023Aug 2023Sep 2023Oct 2023Nov 2023Dec 2023Jan 2024Feb 2024
$992$1003$998$1029$1035$1097$1083$1095$1098$1132$1085$1032$1012
$1222$1248$1298$1352$1385$1513$1519$1482$1533$1512$1486$1478$1463
$1647$1647$1745$1962$2056$2202$2202$2225$2232$2154$2170$2104$2248
$1975$1995$2025$2250$2185$2300$2300$2350$2300$2100$2100$2100$2100

Neighborhood Information for Minneapolis, MN

What are the most affordable neighborhoods in Minneapolis, MN?

The most affordable neighborhoods in Minneapolis are Seward, where the average 1-bedroom apartment rent goes for $897, Ventura Village, where renters pay $900 on average for a 1-bedroom apartment, and Stevens Square, where the average 1-bedroom apartment rent goes for $949. If you're looking for other great deals, check out the listings in Whittier ($990 for a 1-bedroom apartment) or Central ($995 for a 1-bedroom apartment), compared to the $1,482 average for a Minneapolis 1-bedroom apartment.

What are the most expensive neighborhoods in Minneapolis, MN?

The most affordable neighborhoods in Minneapolis are North Loop, where the average 1-bedroom apartment rent goes for $3,622, Cedar Isles - Dean, where renters pay $1,979 on average for a 1-bedroom apartment, and Downtown East, where the average 1-bedroom apartment rent goes for $1,958. If you're looking for other great deals, check out the listings in West Calhoun ($1,812 for a 1-bedroom apartment) or Warehouse District ($1,760 for a 1-bedroom apartment), compared to the $1,482 average for a Minneapolis 1-bedroom apartment.

What are the most popular neighborhoods in Minneapolis, MN?

The most popular neighborhoods in Minneapolis are Prospect Park, where the average 1-bedroom apartment rent goes for $1,665, Como, where renters pay $1,300 on average for a 1-bedroom apartment, and Cedar-Riverside, where the average 1-bedroom apartment rent goes for $1,492. If you're looking for other popular neighborhoods, check out the listings in Phillips ($1,310 for a 1-bedroom apartment) or University of Minnesota ($1,569 for a 1-bedroom apartment), compared to the $1,482 average for a Minneapolis 1-bedroom apartment.

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