Homes & Apartments for Rent in 55406

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What to Know About

Living in 55406

Minneapolis is a city that combines the best of both worlds - the raw beauty of nature and the vibrancy of urban life. Part of the charming "Twin Cities" duo, along with its sister city, St. Paul, Minneapolis, has a lot to offer. Get ready for a mouth-watering experience with the city's festive food and craft beer scene, upscale boutiques, and splendid parks. Embrace the city's artistic culture and visit iconic institutions such as the Walker Center for the Arts, Minneapolis Institute of Art, the Minnesota Orchestra, and Guthrie Theater. If you feel more adventurous, join the Minneapolis St. Paul or the Twin Cities Marathons.

Sports aficionados will be in paradise with the presence of professional teams such as the Minnesota Vikings (NFL), Minnesota Wild (NHL), Minnesota Timberwolves (NBA), and Minnesota Twins (MLB). In addition, outdoor enthusiasts can explore hidden gems showcasing the city's breathtaking natural beauty, from the enchanting Minnehaha Regional Park to the stunning Calhoun Lake and the Chain Lakes.

Minneapolis is a city that offers the perfect blend of a fulfilling lifestyle and ample opportunities to build your ideal future, which is why it's such a great place to live.

Rental Market Trends

Minneapolis, MN

As of September 2026, Minneapolis's rental market is competitive, with strong renter demand causing quick leasing times for well-priced units. Minneapolis's average rent is 0.3% ($5) higher than the Minnesota average of $1,560 and 13.4% ($243) lower than the U.S. average of $1,808.

Average Rent
$1,565
Monthly ChangeMonth Over Month Change
Decreased0.1% ($1)
Yearly ChangeYear Over Year Change
Increased9.7% ($139)
Avg. Days on MarketAverage Days on Market
33
Unit Type Average Rent Monthly ChangeMonth Over Month Change Yearly ChangeYear Over Year Change
1 Bed $1,327 Increased0.2% ($2) Increased7.1% ($88)
2 Beds $1,943 Increased0.3% ($5) Increased17.5% ($290)
3 Beds $2,360 Decreased0.6% ($15) Increased3.3% ($75)
Nearby Cities Average Rent Avg. Rent vs. MinneapolisAverage Rent vs. Minneapolis Avg. Days on MarketAverage Days on Market
Hopkins $1,561 Decreased0.3% ($4) 31 days
St. Paul $1,572 Increased0.4% ($7) 31 days
Eden Prairie $1,739 Increased11.1% ($174) 37 days
Wayzata $3,433 Increased119.4% ($1868) 36 days
Osseo $1,737 Increased11% ($172) 34 days
Rental market trends are calculated using listing data from RentalSource.
Frequently Asked Questions
Minneapolis Rental Market FAQs

Explore rental prices, market trends, and availability in Minneapolis, MN.

The average rent in Minneapolis, MN is $1,565 per month.
Homes in Minneapolis typically rent for between $929 and $3,068 per month, with an average of $1,565 per month.
In Minneapolis, the average rent for a 1-bedroom home is $1,327 per month, for a 2-bedroom home, $1,943 per month, and a 3-bedroom home is $2,360 per month.
The average rent in Minneapolis is 13.4% ($243) lower than the national average of $1,808 per month.
The average rent in Minneapolis has decreased by 0.1% ($1) in the last month and increased by 9.7% ($139) over the past year.
The rental market in Minneapolis, MN, is currently competitive, with strong renter demand causing quick leasing times for well-priced units.
In Minneapolis, MN, the average rental stays on the market for approximately 33 days. While most properties are rented within this timeframe, factors like seasonality, demand, and property type can affect how quickly a rental leases.
There is currently 1,067 rental property available in Minneapolis, MN.
Based on the current averages, a household would need an annual income of $77,720 to comfortably afford a 2-bedroom home in Minneapolis.
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