Median rents, rental comps, and market trends across 16 zip codes in Minneapolis, MN.
More Fortune 500 headquarters per capita than almost anywhere. People love to complain about the winters, but they don't actually leave — corporate employment and a strong job market keep rental demand steady year-round.
Median Asking Rent
$1,567
Rent Change (YoY)
-8.5%
Avg Days on Market
59
Active Rental Listings
1,710
Median List Price
$365,000
Average across 16 zip codes
ZIP | Median Rent |
|---|---|
| 55410 | $2,399/mo |
| 55401 | $2,260/mo |
| 55419 | $1,999/mo |
| 55414 | $1,995/mo |
| 55411 | $1,895/mo |
| 55417 | $1,772/mo |
| 55412 | $1,625/mo |
| 55413 | $1,550/mo |
| 55418 | $1,545/mo |
| 55409 | $1,350/mo |
| 55406 | $1,345/mo |
| 55408 | $1,300/mo |
| 55405 | $1,295/mo |
| 55407 | $1,245/mo |
| 55404 | $1,195/mo |
| 55403 | $1,060/mo |
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| Unit Size | Median Rent |
|---|---|
| Studio | $965/mo |
| 1 Bedroom | $1,131/mo |
| 2 Bedroom | $1,523/mo |
| 3 Bedroom | $2,150/mo |
| 4 Bedroom | $2,438/mo |
Aggregated median across all Minneapolis zip codes with available data.
| ZIP | Median List Price |
|---|---|
| 55410 | $650,000 |
| 55405 | $599,900 |
| 55402 | $569,000 |
| 55419 | $540,000 |
| 55409 | $399,900 |
| 55414 | $379,900 |
| 55401 | $375,000 |
| 55417 | $375,000 |
| 55413 | $365,000 |
| 55406 | $359,900 |
| 55418 | $350,000 |
| 55408 | $315,000 |
| 55407 | $300,000 |
| 55403 | $299,900 |
| 55404 | $240,000 |
| 55411 | $239,900 |
| 55412 | $239,900 |
| Unit Size | Fair Market Rent |
|---|---|
| Studio | $1,860/mo |
| 1 Bedroom | $2,100/mo |
| 2 Bedroom | $2,560/mo |
| 3 Bedroom | $3,390/mo |
| 4 Bedroom | $3,790/mo |
Fair Market Rents are published annually by HUD for the Minneapolis metropolitan area. Local housing authorities use these to set Section 8 voucher payment standards, typically between 90% and 110% of the FMR.
The median asking rent across Minneapolis, MN is currently $1,567/month, based on active rental listings across 16 zip codes. Median asking rents have decreased by -8.5% over the past 12 months.
Asking rents vary significantly across the city. ZIP 55410 has the highest median asking rent at $2,399/month, while ZIP 55403 comes in at $1,060/month.
Rental listings in the area spend an average of 59 days on market before being leased, suggesting a more tenant-friendly market.
The HUD Fair Market Rent for a 2-bedroom in the Minneapolis metro area is $2,560/month. Current median asking rents are near or below the FMR for this area.
Minneapolis-St. Paul has a crazy concentration of Fortune 500 companies — Target, UnitedHealth, 3M, General Mills, Best Buy, US Bancorp. That corporate base creates stable, well-paying rental demand. The city eliminated single-family zoning to encourage more housing, which is gradually adding supply. Uptown, North Loop, and Northeast are premium areas. Richfield and South Minneapolis are more moderate. The unique thing here is seasonal leasing — the market is much busier from May to September. Winter months are slow. So timing your lease start date and understanding how seasonality affects pricing matters more here than in most markets.
Want to look up rental comps and rent estimates for a specific property in Minneapolis? PropMetrics lets you search any address and get detailed rental data instantly.
Get rent estimates, comparable rentals, and market data for any property in Minneapolis, MN. Free to start.
What rental comps are, what makes a good one, and how to use them to price your rental property accurately.
Fair market rent, Section 8, HUD... what does it all mean? A straightforward breakdown of how it works and why it matters.
A step-by-step guide to pricing your rental so it rents quickly without leaving money on the table.