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Rental market trends in Minneapolis, MN

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Average Rent in Minneapolis, MN

Avg. RentAnnual 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

Neighborhood Apartment Rent Trends in Minneapolis, MN

NeighborhoodStudio Avg RentAnnual Change
Prospect Park$1,469+9%
Downtown East$1,312+50%
South St. Paul$1,285--
Downtown West$1,252+7%
Powderhorn Park$1,155--
Central Minneapolis$1,115-3%
Northeast Minneapolis$1,077+11%

How Other Cities Compare to Minneapolis, MN

CityStudio Avg RentAnnual Change
Eden Prairie$1,649+6%
Maple Grove$1,505+14%
Brooklyn Park$1,400-20%
Forest Lake$1,313+68%

Minneapolis, MN Rent Trends

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.