Average Rent in Minnesota

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Current Versus Historical Minnesota Rents

Minnesota rentals average $949 for a studio rental to $2,693 for a 4-bedroom rental. The median price of all currently available listings is $1,532, or roughly $19 per square feet.

For the apartment units and housing in October 2026, median rents have fallen substantially over the last year. Studio rentals prices have decreased by $1,029 (-52.66%) year-over-year from $1,954 to $925. 1-bedroom rentals prices have decreased by $1,222 (-48.27%) year-over-year from $2,532 to $1,310. 2-bedroom rentals prices have decreased by $1,243 (-45.32%) year-over-year from $2,743 to $1,500. 3-bedroom rentals prices have increased by $149 (7.34%) year-over-year from $2,024 to $2,173. 4-bedroom rentals prices have increased by $16 (0.60%) year-over-year from $2,657 to $2,673. 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 0.34% this month. 1-bedroom rents have gone up by 7.52% this month. 2-bedroom rents have gone up by 0.45% this month. 3-bedroom rents have gone up by 3.91% this month. 4-bedroom rents have gone down by 2.17% this month.

Beds	Price / Sqft	Oct 2026 Rent	1 Yr Ago Rent (% +/-)	3 Yr Ago Rent (% +/-)
Studio	$29.44	$925	$1,954 (-52.66%)	$1,481 (-37.56%)
1 BR	$20.93	$1,310	$2,532 (-48.27%)	$1,644 (-20.29%)
2 BR	$18.50	$1,500	$2,743 (-45.32%)	$1,528 (-1.80%)
3 BR	$17.01	$2,173	$2,024 (7.34%)	$1,900 (14.34%)
4+ BR	$16.01	$2,673	$2,657 (0.60%)	$2,539 (5.25%)

Historical Rents in Minnesota

Studio

1 Bed

2 Bed

3 Bed

4 Bed

Top Cities Near Minnesota

There are a total of 24 cities nearby Minnesota. The average rent in Minnesota is currently $1,597 per month. A total of 11 cities nearby have an average rent lower than that. Our records show that Milwaukee, WI, with an average rent of $1,050, is the most affordable city nearby. In contrast, the most expensive city near Minnesota is Naperville, IL. Monthly rents here are on average $2,950 per month.

Let's compare Minnesota's rent against other top cities nearby by bedroom size. Typically, rent for studios in Minnesota is 31.03% more affordable than other cities nearby. One bedrooms are about 1.81% more affordable. Two bedrooms in Minnesota are about 3.25% more affordable. Finally, rent for three bedrooms are about 10.79% more affordable. Want more information? Check out the top 10 cities out of 24 total cities near Minnesota in the following table.

City	Studio	1 Bed	2 Bed	All
Milwaukee, WI	$783	$1,006	$1,050	$1,050
Minneapolis, MN	$920	$1,420	$1,499	$1,500
Oak Park, IL	$1,939	$2,455	$2,100	$2,277
Schaumburg, IL	N/A	$2,182	$2,300	$2,400
Vernon Hills, IL	$2,004	$2,229	$2,150	$2,450
Aurora, IL	$1,350	$1,300	$2,200	$2,450
Skokie, IL	$1,195	$2,113	$2,250	$2,495
Evanston, IL	$2,520	$1,900	$2,325	$2,500
Chicago, IL	$2,049	$2,495	$2,900	$2,500
Naperville, IL	N/A	$1,650	$2,325	$2,950

Top Neighborhoods Near Minnesota

There are a total of 30 neighborhoods in or near Minnesota. Some of these neighborhoods include Capitol Hill, South Shore, and Edgewater. We've included all of these top 30 neighborhoods in or near Minnesota in the following table.

The average rent for these 30 neighborhoods in or near Minnesota is currently around $2,443 per month. A total of 2 neighborhoods have a lower average rent. Meaning, only twenty-eight neighborhoods have a higher average rent than $2,443. Interestingly, the neighborhoods' average rent is higher than Minnesota's average rent, which is only $1,532. Out of all the neighborhoods in or near Minnesota, Capitol Hill has the most affordable average rent at $1,070 per month. Whereas, at $3,857 average rent per month, DePaul 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	$839	$1,070	$1,652	$1,070
South Shore, Chicago, IL	$1,098	$1,150	$1,450	$1,500
Edgewater, Chicago, IL	$1,347	$1,600	$2,447	$1,650
Rogers Park, Chicago, IL	$1,341	$1,450	$1,976	$1,750
Lawndale, Chicago, IL	$1,550	N/A	$1,700	$1,900
Uptown, Chicago, IL	$1,381	$1,810	$2,500	$1,910
Hyde Park, Chicago, IL	$1,095	$1,500	$2,400	$1,950
West Rogers Park, Chicago, IL	$1,100	$1,495	$1,948	$1,950
Old Westport, Kansas City, MO	$1,559	$1,993	$3,265	$1,972
Pilsen, Chicago, IL	$1,998	$1,500	$2,000	$2,000
Albany Park, Chicago, IL	$1,285	$1,543	$2,000	$2,000
Jefferson Park, Chicago, IL	$1,300	$1,525	$2,275	$2,200
Humboldt Park, Chicago, IL	$1,500	$1,725	$2,075	$2,225
Ravenswood, Chicago, IL	$1,400	$1,913	$2,673	$2,250
Logan Square, Chicago, IL	$1,595	$2,095	$2,495	$2,390
Lakeview, Chicago, IL	$1,505	$2,295	$3,000	$2,495
University Village - Little Italy, Chicago, IL	$1,865	$2,349	$3,044	$2,515
Bronzeville, Chicago, IL	$995	$1,650	$2,390	$2,583
Tri-Taylor, Chicago, IL	$2,210	$2,361	$2,957	$2,596
Bucktown, Chicago, IL	$2,279	$2,515	$3,675	$2,720
Lincoln Park, Chicago, IL	$1,850	$2,750	$3,998	$2,761
The Loop, Chicago, IL	$2,410	$2,870	$4,050	$2,876
West Loop, Chicago, IL	$2,297	$2,800	$3,875	$2,900
South Loop, Chicago, IL	$2,266	$2,650	$3,494	$2,900
Wicker Park, Chicago, IL	$2,400	$2,890	$3,175	$2,908
Near West Side, Chicago, IL	$2,329	$2,870	$3,809	$2,945
Goose Island, Chicago, IL	$1,925	$3,052	$4,273	$3,013
Near North Side, Chicago, IL	$2,331	$2,800	$4,131	$3,015
West Town, Chicago, IL	$2,535	$2,991	$4,048	$3,250
DePaul, Chicago, IL	$2,312	$2,695	$3,600	$3,857

Top Counties Near Minnesota

There are a total of 35 counties located by Minnesota. Some of these counties include Milwaukee, WI, Scott, IA, and Minneapolis, MN. The average rent for rentals in these counties is $1,950. That's roughly around $22 per sqft. A total of 10 counties have a lower average rent. The county that is the most affordable is Milwaukee, WI. Its average rent per month is $1,050. Vice versa, with an average rent of $3,150, Vernon, IL is the most expensive county by Minnesota.

Typically, rent for studios in Minnesota is 5.27% more affordable than other counties nearby. In comparison, rent for one bedroom listings in Minnesota is 14.92% more affordable than other counties nearby. Finally, rent for two bedrooms in Minnesota is 21.21% more affordable than other counties nearby. We've listed the top 10 counties in the table below.

County	Studio	1 Bed	2 Bed	All
Milwaukee, WI	$783	$1,006	$1,050	$1,050
Scott, IA	$1,013	$888	$1,200	$1,309
Minneapolis, MN	$920	$1,420	$1,499	$1,500
Palatine, IL	$1,300	$2,172	$1,950	$2,222
Libertyville, IL	$1,777	$1,795	$2,150	$2,304
Schaumburg, IL	N/A	$1,600	$2,250	$2,500
Wheeling, IL	$1,200	$1,780	$2,000	$2,500
Maine, IL	N/A	$1,600	$2,350	$2,650
Northfield, IL	N/A	$1,550	$2,348	$3,000
Vernon, IL	N/A	$1,813	$2,200	$3,150

Top Zipcodes Near Minnesota

There are a total of 35 zipcodes in or near Minnesota. The average rent for all of these zipcodes is $2,400. One zipcode has an average rent that is lower than that. The zipcode with the most affordable average rent for apartment listings is 60649, Chicago, IL at $1,500 per month. In comparison, the zipcode with the most expensive average rent of $3,171 per month is 60654, Chicago, IL.

Studios in these zipcodes have an average rent of $1,595. That's at least $43 per sqft. Do you need more space than that? Average rent for one bedroom rentals for the zipcodes in or near Minnesota is $2,057 per month. Or in other words, $34 per sqft. Meanwhile, two bedroom apartments will cost you an average of $2,658 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	$1,545	$2,195	$3,098	$2,400
60613, Chicago, IL	$1,500	$2,298	$2,895	$2,500
60614, Chicago, IL	$1,895	$2,700	$3,950	$2,824
60640, Chicago, IL	$1,350	$1,895	$2,500	$1,925
60626, Chicago, IL	$1,333	$1,450	$2,000	$1,750
60647, Chicago, IL	$1,595	$2,195	$2,658	$2,450
60611, Chicago, IL	$2,300	$2,757	$4,153	$3,148
60622, Chicago, IL	$2,400	$2,200	$2,800	$2,888
60610, Chicago, IL	$2,200	$2,710	$4,000	$2,840
60625, Chicago, IL	$1,295	$1,710	$2,187	$2,000

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 $1,532. 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 $949 and an average price per square feet of $29.44. There are a total of 25 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 $1,240 and an average price per square feet of $20.93. There are a total of 84 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 $1,485 and an average price per square feet of $18.50. There are a total of 133 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 -0.53%, one bedroom rental prices have changed by -0.48%, two bedroom rental prices have changed by -0.45%, three bedroom rental prices have changed by 0.07% year-over-year.

What is a reasonable rent price in Minnesota?

A reasonable rent price in Minnesota is around $1,226/month. You can search for these reasonably priced rental listings on RentHop.