Average Rent in Minneapolis, MN

Minneapolis rentals average $1,097 for a studio rental to $2,700 for a 4-bedroom rental. The median price of all currently available listings is $1,896, or roughly $2 per square feet.

For the apartment units and housing in April 2024, median rents have fallen substantiallyover the last year. Studio rentals prices have decreased by $15 (-1.60%) year-over-year from $915 to $900. 1-bedroom rentals prices have decreased by $241 (-17.30%) year-over-year from $1,390 to $1,150. 2-bedroom rentals prices have decreased by $839 (-31.53%) year-over-year from $2,662 to $1,823. 3-bedroom rentals prices have increased by $188 (10.37%) year-over-year from $1,810 to $1,998. 4-bedroom rentals prices have increased by $395 (16.57%) year-over-year from $2,381 to $2,775. 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 0.77% this month. 1-bedroom rents have gone down by 18.47% this month. 2-bedroom rents have gone down by 22.83% this month. 3-bedroom rents have gone up by 0.59% this month. 4-bedroom rents have gone up by 3.74% this month.