Average Rent in Minnesota

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Current Versus Historical Minnesota Rents

Minnesota rentals average $0 for a 1-bedroom rental to $0 for a 1-bedroom rental. The median price of all currently available listings is $2,700, or roughly $0 per square feet.

For the apartment units and housing in November 2024, median rents have risen substantially over the last year. Studio rentals prices have increased by $489 (33.33%) year-over-year from $1,466 to $1,954. 1-bedroom rentals prices have increased by $631 (39.18%) year-over-year from $1,610 to $2,241. 2-bedroom rentals prices have increased by $1,199 (77.64%) year-over-year from $1,544 to $2,743. 3-bedroom rentals prices have decreased by $38 (-2.04%) year-over-year from $1,883 to $1,845. 4-bedroom rentals prices have increased by $328 (13.25%) year-over-year from $2,473 to $2,800. Note that this figure includes all active and rented listings throughout the month.

Month-to-month, seasonality might have a bigger impact than overall trend price changes. Studio rents have gone down by 0.00% this month. 1-bedroom rents have gone down by 2.05% this month. 2-bedroom rents have gone up by 0.09% this month. 3-bedroom rents have gone down by 3.23% this month. 4-bedroom rents have gone up by 7.76% this month.

Beds	Price / Sqft	Nov 2024 Rent	1 Yr Ago Rent (% +/-)	3 Yr Ago Rent (% +/-)

Historical Rents in Minnesota

Studio

1 Bed

2 Bed

3 Bed

4 Bed

Top Cities Near Minnesota

There are a total of 9 cities nearby Minnesota. The average rent in Minnesota is currently $2,250 per month. A total of 8 cities nearby have an average rent lower than that. Our records show that Toledo, OH, with an average rent of $825, is the most affordable city nearby. In contrast, the most expensive city near Minnesota is Evanston, IL. Monthly rents here are on average $2,795 per month.

Let's compare Minnesota's rent against other top cities nearby by bedroom size. One bedrooms are about inf% more affordable. Two bedrooms in Minnesota are about inf% more affordable. Finally, rent for three bedrooms are about inf% more affordable. Want more information? Check out the top 9 cities near Minnesota in the following chart.

City	Studio	1 Bed	2 Bed	All
Toledo, OH	N/A	$660	$800	$825
Detroit, MI	N/A	$1,100	$1,125	$1,250
Denver, CO	$1,507	$1,735	$2,453	$1,795
Chicago, IL	$1,356	$1,799	$2,200	$2,100
Schaumburg, IL	N/A	$2,167	$2,250	$2,250
Aurora, IL	N/A	$1,550	$2,196	$2,450
Oak Park, IL	N/A	$1,750	$2,575	$2,588
Naperville, IL	N/A	$1,850	$2,200	$2,640
Evanston, IL	$1,853	$2,250	$2,748	$2,795

Top Neighborhoods Near Minnesota

There are a total of 19 neighborhoods in or near Minnesota. Some of these neighborhoods include South Shore, Uptown, and Rogers Park. We've included all of these top 19 neighborhoods in or near Minnesota in the following chart.

The average rent for these 19 neighborhoods in or near Minnesota is currently around $2,200 per month. A total of 14 neighborhoods have a lower average rent. Meaning, only five neighborhoods have a higher average rent than $2,200. Out of all the neighborhoods in or near Minnesota, South Shore has the most affordable average rent at $1,375 per month. Whereas, at $2,950 average rent per month, Near North Side is the most expensive neighborhood in or near Minnesota. View the following chart for more information.

Neighborhood	Studio	1 Bed	2 Bed	All
South Shore, Chicago, IL	$1,050	$1,075	$1,300	$1,375
Uptown, Chicago, IL	$1,200	$1,600	$2,250	$1,625
Rogers Park, Chicago, IL	$1,200	$1,550	$1,875	$1,650
Edgewater, Chicago, IL	$1,308	$1,645	$2,150	$1,800
West Rogers Park, Chicago, IL	N/A	$1,600	$1,923	$1,995
Pilsen, Chicago, IL	N/A	$1,365	$1,750	$1,995
Lincoln Park, Chicago, IL	$1,765	$2,190	$3,773	$1,999
Ravenswood, Chicago, IL	$1,375	$1,675	$2,100	$2,025
Humboldt Park, Chicago, IL	N/A	$1,750	$1,750	$2,125
Bronzeville, Chicago, IL	$1,325	$1,700	$2,000	$2,200
Logan Square, Chicago, IL	$1,548	$1,700	$2,163	$2,250
Hyde Park, Chicago, IL	$1,200	$1,523	$1,885	$2,338
Lakeview, Chicago, IL	$1,500	$1,838	$2,593	$2,395
South Loop, Chicago, IL	$1,650	$2,100	$2,800	$2,650
The Loop, Chicago, IL	$1,850	$2,200	$3,000	$2,725
DePaul, Chicago, IL	$2,000	$2,496	$2,673	$2,776
Near West Side, Chicago, IL	N/A	$2,400	$2,765	$2,800
West Town, Chicago, IL	$2,235	$2,356	$2,817	$2,850
Near North Side, Chicago, IL	$1,728	$2,300	$3,750	$2,950

Top Counties Near Minnesota

There are a total of 19 counties located by Minnesota. Some of these counties include Lucas, OH, Wayne, MI, and Cook, IL. The average rent for rentals in these counties is $2,200. That's roughly around $2 per sqft. A total of 11 counties have a lower average rent. The county that is the most affordable is Lucas, OH. It's average rent per month is $850. Vice versa, with an average rent of $2,600, Lake, IL is the most expensive county by Minnesota.

In comparison, rent for one bedroom listings in Minnesota is inf% more affordable than other counties nearby. Finally, rent for two bedrooms in Minnesota is inf% more affordable than other counties nearby. We've listed the top 10 counties in the chart below.

County	Studio	1 Bed	2 Bed	All
Lucas, OH	N/A	$668	$825	$850
Wayne, MI	N/A	$1,100	$1,200	$1,400
Cook, IL	$1,350	$1,750	$2,195	$2,195
Kane, IL	$1,075	$1,550	$2,000	$2,200
Oakland, MI	N/A	$1,125	$1,700	$2,200
McHenry, IL	N/A	$1,150	$1,973	$2,400
Washtenaw, MI	N/A	$1,900	$2,000	$2,400
DuPage, IL	N/A	$1,850	$2,150	$2,500
Will, IL	N/A	$1,350	$2,025	$2,500
Lake, IL	$1,900	$1,978	$2,200	$2,600

Top Zipcodes Near Minnesota

There are a total of 4 zipcodes in or near Minnesota. The average rent for all of these zipcodes is $2,000. A total of 4 zipcodes have a average rent that is lower than that. The zipcode with the most affordable average rent for apartment listings is 60641, Chicago, IL at $1,995 per month. In comparison, the zipcode with the most expensive average rent of $2,122 per month is 60615, Chicago, IL.

Studios in these zipcodes have an average rent of $1,225. That's at least $2 per sqft. Do you need more space than that? Average rent for one bedroom rentals for the zipcodes in or near Minnesota is $1,488 per month. Or in other words, $2 per sqft. Meanwhile, two bedroom apartments will cost you an average of $1,873 per month. Which comes out to $2 per sqft. The following chart includes the top 4 zipcodes in Minnesota. You can view the average rent breakdown for each zipcode by bedroom size.

Zipcode	Studio	1 Bed	2 Bed	All
60618, Chicago, IL	$1,650	$1,695	$2,000	$2,000
60615, Chicago, IL	$1,150	$1,525	$1,895	$2,122
60625, Chicago, IL	$1,300	$1,450	$1,850	$2,000
60641, Chicago, IL	$1,100	$1,300	$1,600	$1,995

Frequently Asked Questions - Minnesota Average Rents

What is the average rent price in Minnesota?

The average monthly rental price for Minnesota apartments for rent is approximately $2,700. This calculation takes into consideration rental listings of varying bedroom/bathroom sizes, building types, and locations.

Do Minnesota rent prices drop in winter?

Yes! On average we see a 3.4% drop in rental prices between the peak summer months and the slower winter months. With the added bonus of decreased competition from other renters looking to move, winter is generally considered the best time of the year to find an apartment for rent in Minnesota.

How much is a studio apartment in Minnesota?

The average monthly rental price for studio apartments is $0 and an average price per square feet of $0.00. There are a total of 0 studio apartment listings currently available for rent in Minnesota.

How much is a one bedroom apartment in Minnesota?

The average monthly rental price for one bedroom apartments is $0 and an average price per square feet of $0.00. There are a total of 1 one bedroom apartment listings currently available for rent in Minnesota.

How much is a two bedroom apartment in Minnesota?

The average monthly rental price for two bedroom apartments is $0 and an average price per square feet of $0.00. There are a total of 0 two bedroom apartment listings currently available for rent in Minnesota.

How have rent prices in Minnesota changed this year?

Rent prices for rentals in Minnesota can fluctuate yearly. Specifically, studio rental prices have changed by 0.33%, one bedroom rental prices have changed by 0.39%, two bedroom rental prices have changed by 0.78%, and three bedroom rental prices have changed by -0.02% year-over-year.

What is a reasonable rent price in Minnesota?

A reasonable rent price in Minnesota is around $2,160/month. You can search for these reasonably priced rental listings on RentHop.