Average Rent in Minneapolis, MN
43 apartment buildings, 534 units. Real asking prices, refreshed daily.
Avg Rent
$2,167/mo
Cheapest
$800/mo
Properties
43
Units
534
Analysis
Rent Price Breakdown
Compare pricing across all 43 properties in Minneapolis, MN.
Average Rent by Property
Starting Price vs Average
Rent by Bedroom Count
Price per Square Foot
Minneapolis, MN Rent Prices
All 43 properties ranked by lowest available rent.
East Town Apartments
618 S 9th Ave, Minneapolis, MN 55415, USA
East River Terrace
2101 E River Terrace, Minneapolis, MN 55414, USA
St. Anthony Mills
720 Washington Ave S, Minneapolis, MN 55415, USA
NoLo Living - NoLo South
701 N 2nd St, Minneapolis, MN 55401, USA
The Larking
615 S 8th St, Minneapolis, MN 55404, USA
Hencen Apartments
455 Central Ave SE, Minneapolis, MN 55414, USA
Inspire
2837 Emerson Ave S, Minneapolis, MN 55408, USA
| # | Property | From | Avg | $/sqft | Rating | Units |
|---|---|---|---|---|---|---|
| 1 | East Town Apartments 618 S 9th Ave, Minneapolis, MN 55415, USA | $800 | $1,161 | $1.56 | 3.9 (111) | 21 |
| 2 | East River Terrace 2101 E River Terrace, Minneapolis, MN 55414, USA | $1,015 | $1,015 | $2.51 | 3.4 (10) | 1 |
| 3 | St. Anthony Mills 720 Washington Ave S, Minneapolis, MN 55415, USA | $1,020 | $1,258 | $1.68 | 4.1 (50) | 3 |
| 4 | NoLo Living - NoLo South 701 N 2nd St, Minneapolis, MN 55401, USA | $1,157 | $1,878 | $2.77 | 4 (32) | 24 |
| 5 | The Larking 615 S 8th St, Minneapolis, MN 55404, USA | $1,220 | $1,853 | $2.67 | 4.6 (160) | 23 |
| 6 | Hencen Apartments 455 Central Ave SE, Minneapolis, MN 55414, USA | $1,247 | $1,812 | $3.02 | 4.3 (48) | 27 |
| 7 | Inspire 2837 Emerson Ave S, Minneapolis, MN 55408, USA | $1,315 | $1,863 | $2.00 | 3.7 (298) | 31 |
Explore Each Property
East Town Apartments
3.9 (111)618 S 9th Ave, Minneapolis, MN 55415, USA
East River Terrace
3.4 (10)2101 E River Terrace, Minneapolis, MN 55414, USA
St. Anthony Mills
4.1 (50)720 Washington Ave S, Minneapolis, MN 55415, USA
NoLo Living - NoLo South
4 (32)701 N 2nd St, Minneapolis, MN 55401, USA
The Larking
4.6 (160)615 S 8th St, Minneapolis, MN 55404, USA
Hencen Apartments
4.3 (48)455 Central Ave SE, Minneapolis, MN 55414, USA
Minneapolis, MN Average Rent Prices 2026
The average rent in Minneapolis, MN is $2,167 per month, based on 534 units across 43 apartment communities. Prices range from $800 at East Town Apartments to $3,595 at 240 Park Avenue.
Average Rent by Bedroom Type
| Type | Avg Rent | Starting From | Units |
|---|---|---|---|
| Studio | $1,539/mo | $800/mo | 115 |
| 1 Bed | $1,984/mo | $1,082/mo | 260 |
| 2 Bed | $2,834/mo | $1,020/mo | 152 |
| 3 Bed | $4,771/mo | $1,589/mo | 7 |
Every price comes directly from each property's leasing system, updated that morning. Request a neighborhood we don't cover and we add it within 24 hours.
Market Context
Who rents in Minneapolis, MN, and what they pay
Tracked one-bedroom rent in Minneapolis, MN averages $1,984/mo, with two-bedroom units averaging $2,834/mo. At the local median household income of $80,269, that works out to 32% of gross income, above the 30 percent affordability ceiling, a stretched-budget market.
The U.S. Census Bureau's American Community Survey 2023 release pegged median gross rent in Minneapolis, MN at $1,329/mo. The current tracked market average runs 63% higher than that benchmark, reflecting both two to three years of rent growth and the fact that the Census figure covers all renter-occupied housing in Minneapolis, MN while the tracked market average covers units currently listed in larger apartment communities.
Who employs renters in Minneapolis-St. Paul
Demand in the Minneapolis-St. Paul rental market is shaped by the metro's largest private and public employers. The following organizations anchor local hiring and influence what renters can pay:
- Target
- U.S. Bank
- Ameriprise Financial
- Xcel Energy
- UnitedHealth Group
- Medtronic
- 3M
Mean one-way commute in Minneapolis, MN is 23 minutes, per the Census ACS, useful context when weighing which properties sit inside reasonable reach of these employers.
What salary do I need to live comfortably in Minneapolis, MN?
Built on the 25 to 30 percent rent-to-income guideline used by most landlords and credit-scoring models.
Minimum to afford average rent
$87,000/year
30 percent rule -- using our average rent of $2,167/mo.
Comfortable income
$104,000/year
25 percent rule -- leaves more room for savings, transport, and groceries.
To afford the cheapest tracked apartment ($800/mo), you need to earn at least $32,000/year.
Median household income in Minneapolis, MN is $80,269 , about 23% below the comfortable-living threshold.
Cost of living in Minneapolis, MN
Overall prices in Minneapolis, MN runs above the national average by about 4% (BEA Regional Price Parity index 104.3, where 100 equals the U.S. average). The breakdown below estimates monthly costs for a single adult, using national consumer-spending baselines from the Bureau of Labor Statistics scaled by Minneapolis, MN's regional price parities.
| Category | Monthly estimate |
|---|---|
| Rent (market average) | $2,167 |
| Utilities | $474 |
| Groceries | $565 |
| Transportation | $1,131 |
| Healthcare | $552 |
| Other goods and services | $882 |
| Estimated total | $5,771/mo |
Population
426,845
Median household income
$80,269
Census median rent
$1,329/mo
Rent as % of income
28.7%
Median age
33.0
Mean commute
23 min
Methodology
Rent data
Sourced directly from each tracked apartment community and refreshed every 24 hours. Every listed unit price on this page is real and listed today.
Cost of living
Estimates combine national consumer-spending baselines from the U.S. Bureau of Labor Statistics (Consumer Expenditure Survey) with the U.S. Bureau of Economic Analysis Regional Price Parities (MARPP dataset). Both are peer-reviewed federal data releases published annually.
Salary to live comfortably
Applies the standard 25 to 30 percent rent-to-income rule on top of the listed rent. This is the same affordability guideline used by most landlords and credit-scoring models.
Demographic figures
Median household income, population, median age, commute time, Census median rent, and rent as percentage of income come from the U.S. Census Bureau's American Community Survey 5-year estimates, the most recent complete release.
Cost of living and demographic figures were last published in 2023.
Compare
Nearby cities in Minnesota
How Minneapolis, MN rent compares to other markets in the state.
| City | Avg Rent | vs Minneapolis, MN | Properties |
|---|---|---|---|
| ST Paul, MN | $1,593 | -26% | 18 |
| Bloomington, MN | $1,675 | -23% | 14 |
| Eagan, MN | $1,502 | -31% | 12 |
| Plymouth, MN | $2,423 | +12% | 8 |
Frequently asked questions
What is the average rent in Minneapolis, MN?
The average rent in Minneapolis, MN is $2,167 per month, based on 534 units across 43 apartment buildings tracked by Average Rent. Prices are updated every morning through our proprietary data sourcing.
What is the cheapest apartment rent in Minneapolis, MN?
The lowest available rent in Minneapolis, MN starts at $800 per month. Availability changes daily as leasing data is refreshed each morning.
How much is a 1-bedroom apartment in Minneapolis, MN?
1-bedroom apartments in Minneapolis, MN average $1,984/mo. The lowest listed 1-bedroom starts at $1,082/mo across 260 units tracked.
How much is a 2-bedroom apartment in Minneapolis, MN?
2-bedroom apartments in Minneapolis, MN average $2,834/mo. Units start from $1,020/mo across 152 units currently listed.
Rent Trends in Minneapolis, MN
Track how apartment prices are changing over time.
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