Average Rent in Minnesota

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Current Versus Historical Minnesota Rents

Minnesota rentals average $950 for a studio rental to $2,850 for a 4-bedroom rental. The median price of all currently available listings is $1,395, or roughly $19 per square feet.

For the apartment units and housing in July 2026, median rents have fallen substantially over the last year. Studio rentals prices have decreased by $1,055 (-53.99%) year-over-year from $1,954 to $899. 1-bedroom rentals prices have decreased by $1,235 (-52.05%) year-over-year from $2,372 to $1,138. 2-bedroom rentals prices have decreased by $1,519 (-55.41%) year-over-year from $2,741 to $1,222. 3-bedroom rentals prices have increased by $275 (13.58%) year-over-year from $2,025 to $2,300. 4-bedroom rentals prices have increased by $18 (0.65%) year-over-year from $2,708 to $2,725. 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 1.41% this month. 1-bedroom rents have gone down by 0.26% this month. 2-bedroom rents have gone down by 8.26% this month. 3-bedroom rents have gone up by 7.98% this month. 4-bedroom rents have gone down by 2.91% this month.

Beds	Price / Sqft	Jul 2026 Rent	1 Yr Ago Rent (% +/-)	3 Yr Ago Rent (% +/-)
Studio	$25.10	$899	$1,954 (-53.99%)	$1,133 (-20.68%)
1 BR	$21.18	$1,138	$2,372 (-52.05%)	$1,223 (-7.02%)
2 BR	$18.24	$1,222	$2,741 (-55.41%)	$1,413 (-13.54%)
3 BR	$18.28	$2,300	$2,025 (13.58%)	$1,928 (19.27%)
4+ BR	$17.01	$2,725	$2,708 (0.65%)	$2,532 (7.64%)

Historical Rents in Minnesota

Studio

1 Bed

2 Bed

3 Bed

4 Bed

Top Cities Near Minnesota

There are a total of 27 cities nearby Minnesota. The average rent in Minnesota is currently $1,600 per month. A total of 10 cities nearby have an average rent lower than that. Our records show that Indianapolis, IN, with an average rent of $950, is the most affordable city nearby. In contrast, the most expensive city near Minnesota is Vernon Hills, IL. Monthly rents here are on average $2,775 per month.

Let's compare Minnesota's rent against other top cities nearby by bedroom size. Typically, rent for studios in Minnesota is 1.05% more expensive than other cities nearby. One bedrooms are about 7.20% more affordable. Two bedrooms in Minnesota are about 25.04% more affordable. Finally, rent for three bedrooms are about 12.78% more affordable. Want more information? Check out the top 10 cities out of 27 total cities near Minnesota in the following table.

City	Studio	1 Bed	2 Bed	All
St. Paul, MN	$795	$895	$1,155	$1,025
Milwaukee, WI	$1,400	$903	$1,150	$1,100
Minneapolis, MN	$887	$1,345	$1,795	$1,750
Schaumburg, IL	N/A	$2,034	$2,300	$2,300
Oak Park, IL	$1,300	$1,700	$2,498	$2,300
Aurora, IL	$1,275	$1,695	$2,199	$2,400
Evanston, IL	$2,450	$2,250	$2,400	$2,550
Naperville, IL	N/A	$1,799	$2,399	$2,590
Skokie, IL	N/A	$1,650	$2,475	$2,600
Vernon Hills, IL	N/A	$1,913	$2,275	$2,775

Top Neighborhoods Near Minnesota

There are a total of 29 neighborhoods in or near Minnesota. Some of these neighborhoods include Capitol Hill, Englewood, and South Shore. We've included all of these top 29 neighborhoods in or near Minnesota in the following table.

The average rent for these 29 neighborhoods in or near Minnesota is currently around $2,250 per month. A total of one neighborhood has a lower average rent. Meaning, only twenty-eight neighborhoods have a higher average rent than $2,250. Interestingly, the neighborhoods' average rent is higher than Minnesota's average rent, which is only $1,395. Out of all the neighborhoods in or near Minnesota, Capitol Hill has the most affordable average rent at $1,025 per month. Whereas, at $3,500 average rent per month, Bucktown is the most expensive neighborhood in or near Minnesota. View the following table for more information.

Neighborhood	Studio	1 Bed	2 Bed	All
Capitol Hill, Denver, CO	$919	$1,070	$1,379	$1,025
Englewood, Chicago, IL	$1,100	$1,250	$1,350	$1,400
South Shore, Chicago, IL	$975	$1,300	$1,450	$1,538
Rogers Park, Chicago, IL	$1,195	$1,400	$1,850	$1,650
Austin, Chicago, IL	$1,063	$1,125	$1,800	$1,800
Lawndale, Chicago, IL	N/A	$1,450	$1,725	$1,800
Edgewater, Chicago, IL	$1,500	$1,733	$2,588	$1,850
Albany Park, Chicago, IL	$1,550	$1,463	$2,100	$1,925
Old Westport, Kansas City, MO	$1,559	$1,993	$3,265	$1,972
Uptown, Chicago, IL	$1,400	$1,785	$2,875	$2,000
Ravenswood, Chicago, IL	$1,480	$1,950	$2,450	$2,023
Pilsen, Chicago, IL	$2,650	$1,650	$1,900	$2,075
West Rogers Park, Chicago, IL	N/A	$1,595	$1,995	$2,095
Jefferson Park, Chicago, IL	$1,375	$1,450	$2,100	$2,100
Woodlawn, Chicago, IL	$1,575	$1,565	$1,798	$2,250
Logan Square, Chicago, IL	$1,595	$2,095	$2,595	$2,295
Humboldt Park, Chicago, IL	$1,500	$1,925	$2,150	$2,400
Far East, Aurora, IL	N/A	$1,829	$2,261	$2,401
Bronzeville, Chicago, IL	$1,175	$1,673	$2,355	$2,445
Lakeview, Chicago, IL	$1,595	$2,150	$3,100	$2,565
Lincoln Park, Chicago, IL	$1,750	$2,500	$3,925	$2,595
University Village - Little Italy, Chicago, IL	$1,169	$2,100	$2,700	$2,750
Near North Side, Chicago, IL	$1,900	$2,550	$4,000	$2,800
South Loop, Chicago, IL	$1,780	$2,350	$3,200	$2,900
The Loop, Chicago, IL	$2,175	$2,500	$3,763	$2,909
West Town, Chicago, IL	$2,350	$2,350	$2,800	$3,200
DePaul, Chicago, IL	$1,915	$2,445	$3,435	$3,300
Near West Side, Chicago, IL	N/A	$2,900	$3,700	$3,400
Bucktown, Chicago, IL	$2,363	$2,550	$3,100	$3,500

Top Counties Near Minnesota

There are a total of 37 counties located by Minnesota. Some of these counties include St. Paul, MN, Milwaukee, WI, and Scott, IA. The average rent for rentals in these counties is $1,900. That's roughly around $23 per sqft. A total of 9 counties have a lower average rent. The county that is the most affordable is Center, Indianapolis, IN. Its average rent per month is $975. Vice versa, with an average rent of $3,500, Northfield, IL is the most expensive county by Minnesota.

Typically, rent for studios in Minnesota is 1.05% more expensive than other counties nearby. In comparison, rent for one bedroom listings in Minnesota is 18.22% more affordable than other counties nearby. Finally, rent for two bedrooms in Minnesota is 33.98% more affordable than other counties nearby. We've listed the top 10 counties in the table below.

County	Studio	1 Bed	2 Bed	All
St. Paul, MN	$795	$895	$1,155	$1,025
Milwaukee, WI	$1,400	$903	$1,150	$1,100
Scott, IA	$650	$825	$1,025	$1,200
Minneapolis, MN	$887	$1,345	$1,795	$1,750
Schaumburg, IL	N/A	$1,750	$2,200	$2,300
Palatine, IL	N/A	$1,985	$2,336	$2,392
Wheeling, IL	$1,300	$1,595	$2,150	$2,425
Libertyville, IL	N/A	$2,180	$2,275	$2,663
Vernon, IL	N/A	$1,650	$2,300	$3,195
Northfield, IL	N/A	$2,073	$2,500	$3,500

Top Zipcodes Near Minnesota

There are a total of 38 zipcodes in or near Minnesota. The average rent for all of these zipcodes is $2,340. One zipcode has an average rent that is lower than that. The zipcode with the most affordable average rent for apartment listings is 60402, Berwyn, IL at $1,350 per month. In comparison, the zipcode with the most expensive average rent of $3,300 per month is 60607, Chicago, IL.

Studios in these zipcodes have an average rent of $1,484. That's at least $39 per sqft. Do you need more space than that? Average rent for one bedroom rentals for the zipcodes in or near Minnesota is $1,812 per month. Or in other words, $30 per sqft. Meanwhile, two bedroom apartments will cost you an average of $2,475 per month. Which comes out to $28 per sqft. The following table includes the top 10 zipcodes in Minnesota. You can view the average rent breakdown for each zipcode by bedroom size.

Zipcode	Studio	1 Bed	2 Bed	All
60657, Chicago, IL	$1,627	$2,150	$3,125	$2,450
60613, Chicago, IL	$1,595	$2,150	$3,095	$2,695
60614, Chicago, IL	$1,845	$2,500	$3,600	$2,895
60640, Chicago, IL	$1,480	$1,800	$2,525	$1,950
60626, Chicago, IL	$1,195	$1,400	$1,850	$1,595
60647, Chicago, IL	$1,595	$2,100	$2,650	$2,473
60611, Chicago, IL	$2,200	$2,500	$4,200	$2,756
60622, Chicago, IL	$1,800	$2,225	$2,700	$3,100
60610, Chicago, IL	$1,648	$2,500	$3,839	$2,557
60625, Chicago, IL	$1,450	$1,825	$2,150	$2,045

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 $1,395. 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 $950 and an average price per square feet of $25.10. There are a total of 43 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 $1,180 and an average price per square feet of $21.18. There are a total of 162 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 $1,400 and an average price per square feet of $18.24. There are a total of 202 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 -0.54%, one bedroom rental prices have changed by -0.52%, two bedroom rental prices have changed by -0.55%, three bedroom rental prices have changed by 0.14% year-over-year.

What is a reasonable rent price in Minnesota?

A reasonable rent price in Minnesota is around $1,116/month. You can search for these reasonably priced rental listings on RentHop.