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 July 2025, Minneapolis's rental market is competitive, with strong renter demand causing quick leasing times for well-priced units. Minneapolis's average rent is 5.2% ($77) lower than the Minnesota average of $1,479 and 21.0% ($373) lower than the U.S. average of $1,775.

Average Rent

$1,402

Monthly ChangeMonth Over Month Change

1.7% ($23)

Yearly ChangeYear Over Year Change

1% ($14)

Avg. Days on MarketAverage Days on Market

Unit Type	Average Rent	Monthly ChangeMonth Over Month Change	Yearly ChangeYear Over Year Change
1 Bed	$1,196	2.3% ($27)	2% ($25)
2 Beds	$1,690	0.1% ($1)	12.7% ($190)
3 Beds	$2,290	0.1% ($3)	4.8% ($104)

Nearby Cities	Average Rent	Avg. Rent vs. MinneapolisAverage Rent vs. Minneapolis	Avg. Days on MarketAverage Days on Market
Hopkins	$1,638	16.8% ($236)	31 days
Saint Paul	$1,409	0.5% ($7)	31 days
Minnetonka	$2,099	49.7% ($697)	32 days
Eden Prairie	$1,543	10.1% ($141)	37 days
Wayzata	$1,489	6.2% ($87)	36 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.

What is the average rent in Minneapolis, MN?

The average rent in Minneapolis, MN is $1,402 per month.

What is the rental price range for homes in Minneapolis, MN?

Homes in Minneapolis typically rent for between $837 and $2,977 per month, with an average of $1,402 per month.

What is the average rent for different bedroom sizes in Minneapolis, MN?

In Minneapolis, the average rent for a 1-bedroom home is $1,196 per month, for a 2-bedroom home, $1,690 per month, and a 3-bedroom home is $2,290 per month.

How do rent prices in Minneapolis, MN compare with the national average?

The average rent in Minneapolis is 21% ($373) lower than the national average of $1,775 per month.

How have rent prices in Minneapolis, MN changed recently?

The average rent in Minneapolis has increased by 1.7% ($23) in the last month and increased by 1.0% ($14) over the past year.

How competitive is the rental market in Minneapolis, MN?

The rental market in Minneapolis, MN, is currently competitive, with strong renter demand causing quick leasing times for well-priced units.

How long do rentals stay on the market in Minneapolis, MN?

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.

How many rental properties are available in Minneapolis, MN?

There is currently 1,229 rental property available in Minneapolis, MN.

Can I afford to rent a home in Minneapolis, MN?

Based on the current averages, a household would need an annual income of $67,600 to comfortably afford a 2-bedroom home in Minneapolis.