Average Rent in Minneapolis, MN

Minneapolis offers some of the best rent-to-income ratios among major cities. The city passed a rent stabilization ordinance and has been actively building affordable housing. Strong tenant protections make it a renter-friendly market.

+1.0%YoY

Studio

$1,100

1-Bedroom

$1,350

2-Bedroom

$1,700

3-Bedroom

$2,100

Market Overview

Year-over-Year Change+1.0%

Vacancy Rate6.5%

Renter Population53%

Median Income$63,344/yr

Rent-to-Income Ratio25.6%

Cost of Living Index103 (US avg: 100)

Market Condition

Balanced Market

Market is relatively balanced between landlords and tenants.

Tenant Protections

3% annual rent increase cap
Tenant screening fee limitations
Security deposit return within 21 days
Just Cause eviction protections
Right to organize tenant unions

HUD Fair Market Rent (2025)

Fair Market Rent (FMR) is set by the U.S. Department of Housing and Urban Development for the Minneapolis-St. Paul-Bloomington, MN-WI metro area.

Studio

$842

1-Bed

$998

2-Bed

$1,225

3-Bed

$1,598

4-Bed

$1,812

Rent by Neighborhood in Minneapolis

Uptown

Walkable neighborhood with Chain of Lakes, shops, and restaurant scene.

Walk Score: 88Safety: 6/10

1-Bed

$1,500

2-Bed

$1,900

3-Bed

$2,300

Northeast Minneapolis

Arts district with breweries, galleries, and converted warehouse lofts.

Walk Score: 72Safety: 7/10

1-Bed

$1,300

2-Bed

$1,600

3-Bed

$2,000

Downtown

Skyway-connected downtown with sports, theater, and corporate offices.

Walk Score: 95Safety: 6/10

1-Bed

$1,600

2-Bed

$2,000

3-Bed

$2,500

North Loop

Trendy warehouse district with restaurants, boutiques, and loft living.

Walk Score: 82Safety: 7/10

1-Bed

$1,700

2-Bed

$2,100

3-Bed

$2,600

Linden Hills

Quiet lakeside neighborhood with village feel and family-friendly vibe.

Walk Score: 60Safety: 9/10

1-Bed

$1,400

2-Bed

$1,800

3-Bed

$2,200

Tips for Renting in Minneapolis

1Minneapolis has a 3% annual rent increase cap - know your rights
2Winter heating costs can be significant - check if heat is included in rent
3The skyway system means walkability is better than it appears in winter
4Many landlords offer reduced rent during winter move-ins (fewer people moving)

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