Average Rent in Minnesota

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Current Versus Historical Minnesota Rents

Minnesota rentals average $899 for a studio rental to $2,888 for a 4-bedroom rental. The median price of all currently available listings is $1,349, or roughly $19 per square feet.

For the apartment units and housing in August 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 $1,267 (-51.38%) year-over-year from $2,466 to $1,199. 2-bedroom rentals prices have decreased by $1,281 (-46.68%) year-over-year from $2,743 to $1,463. 3-bedroom rentals prices have increased by $83 (4.08%) year-over-year from $2,025 to $2,108. 4-bedroom rentals prices have increased by $235 (8.82%) year-over-year from $2,665 to $2,900. 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 1.24% this month. 1-bedroom rents have gone up by 0.78% this month. 2-bedroom rents have gone up by 5.51% this month. 3-bedroom rents have gone up by 5.42% this month. 4-bedroom rents have gone up by 1.46% this month.

Beds	Price / Sqft	Aug 2026 Rent	1 Yr Ago Rent (% +/-)	3 Yr Ago Rent (% +/-)
Studio	$27.35	$899	$1,954 (-53.99%)	$1,206 (-25.45%)
1 BR	$20.80	$1,199	$2,466 (-51.38%)	$1,363 (-12.05%)
2 BR	$18.40	$1,463	$2,743 (-46.68%)	$1,432 (2.15%)
3 BR	$18.81	$2,108	$2,025 (4.08%)	$1,938 (8.73%)
4+ BR	$15.78	$2,900	$2,665 (8.82%)	$2,498 (16.08%)

Historical Rents in Minnesota

Studio

1 Bed

2 Bed

3 Bed

4 Bed

Top Cities Near Minnesota

There are a total of 28 cities nearby Minnesota. The average rent in Minnesota is currently $1,511 per month. A total of 11 cities nearby have an average rent lower than that. Our records show that Lexington-Fayette, KY, with an average rent of $980, is the most affordable city nearby. In contrast, the most expensive city near Minnesota is Buffalo Grove, IL. Monthly rents here are on average $2,750 per month.

Let's compare Minnesota's rent against other top cities nearby by bedroom size. Typically, rent for studios in Minnesota is 0.06% more affordable than other cities nearby. One bedrooms are about 0.08% more affordable. Two bedrooms in Minnesota are about 19.28% more affordable. Finally, rent for three bedrooms are about 5.13% more affordable. Want more information? Check out the top 10 cities out of 28 total cities near Minnesota in the following table.

City	Studio	1 Bed	2 Bed	All
St. Paul, MN	$899	$895	$1,105	$1,040
Milwaukee, WI	$900	$925	$1,088	$1,050
Minneapolis, MN	$897	$1,200	$1,615	$1,398
Schaumburg, IL	N/A	$2,200	$2,250	$2,393
Aurora, IL	$1,150	$1,869	$2,300	$2,400
Evanston, IL	$2,413	$2,295	$2,395	$2,538
Skokie, IL	N/A	$2,075	$2,250	$2,600
Naperville, IL	N/A	$1,799	$2,350	$2,618
Vernon Hills, IL	N/A	$1,900	$2,350	$2,750
Buffalo Grove, IL	N/A	$1,750	$2,525	$2,750

Top Neighborhoods Near Minnesota

There are a total of 30 neighborhoods in or near Minnesota. Some of these neighborhoods include Englewood, 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 $2,308 per month. Interestingly, the neighborhoods' average rent is higher than Minnesota's average rent, which is only $1,349. Out of all the neighborhoods in or near Minnesota, Englewood has the most affordable average rent at $1,400 per month. Whereas, at $3,960 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
Englewood, Chicago, IL	$1,100	$1,250	$1,390	$1,400
South Shore, Chicago, IL	$1,038	$1,149	$1,525	$1,575
Edgewater, Chicago, IL	$1,295	$1,500	$2,600	$1,600
Austin, Chicago, IL	$850	$699	$1,775	$1,600
Rogers Park, Chicago, IL	$1,200	$1,450	$1,900	$1,650
Lawndale, Chicago, IL	$1,600	$1,450	$1,750	$1,900
Uptown, Chicago, IL	$1,325	$1,750	$2,700	$1,932
Old Westport, Kansas City, MO	$1,559	$1,993	$3,265	$1,972
Pilsen, Chicago, IL	$1,425	$1,800	$1,893	$1,973
Albany Park, Chicago, IL	$1,250	$1,545	$2,000	$1,998
West Rogers Park, Chicago, IL	$1,350	$1,595	$1,975	$2,023
Jefferson Park, Chicago, IL	$1,348	$1,595	$1,950	$2,100
Ravenswood, Chicago, IL	$1,500	$1,900	$2,595	$2,150
Humboldt Park, Chicago, IL	$1,850	$1,975	$2,050	$2,235
Far East, Aurora, IL	N/A	$1,905	$2,266	$2,266
Logan Square, Chicago, IL	$1,475	$1,995	$2,525	$2,350
Lakeview, Chicago, IL	$1,500	$2,100	$3,100	$2,395
Hyde Park, Chicago, IL	$1,375	$1,595	$2,090	$2,399
Bronzeville, Chicago, IL	$1,200	$1,600	$2,365	$2,450
Lincoln Park, Chicago, IL	$1,650	$2,500	$3,775	$2,725
Near North Side, Chicago, IL	$1,950	$2,600	$4,000	$2,800
University Village - Little Italy, Chicago, IL	$1,488	$2,275	$2,725	$2,800
South Loop, Chicago, IL	$1,850	$2,343	$3,200	$2,800
Roscoe Village, Chicago, IL	$1,473	$2,043	$2,725	$2,925
The Loop, Chicago, IL	$1,893	$2,500	$3,435	$2,999
Wicker Park, Chicago, IL	$2,600	$2,125	$2,775	$3,050
Near West Side, Chicago, IL	N/A	$2,800	$3,550	$3,175
West Town, Chicago, IL	N/A	$2,448	$2,973	$3,195
Bucktown, Chicago, IL	$2,230	$2,515	$3,750	$3,500
DePaul, Chicago, IL	$1,975	$2,463	$3,500	$3,960

Top Counties Near Minnesota

There are a total of 39 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 $1,950. 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 Columbus, OH. Its average rent per month is $1,035. Vice versa, with an average rent of $3,500, New Trier, IL is the most expensive county by Minnesota.

Typically, rent for studios in Minnesota is 32.93% more affordable than other counties nearby. In comparison, rent for one bedroom listings in Minnesota is 16.35% more affordable than other counties nearby. Finally, rent for two bedrooms in Minnesota is 38.19% 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	$899	$895	$1,105	$1,040
Milwaukee, WI	$900	$925	$1,088	$1,050
Scott, IA	$832	$775	$1,100	$1,100
Polk, IA	$3,000	$742	$1,020	$1,245
Minneapolis, MN	$897	$1,200	$1,615	$1,398
Palatine, IL	N/A	$2,180	$1,900	$2,200
Wheeling, IL	$1,300	$1,743	$2,100	$2,400
Schaumburg, IL	N/A	$1,650	$2,200	$2,425
Libertyville, IL	$1,550	$1,900	$2,200	$2,500
Vernon, IL	N/A	$1,550	$2,400	$2,850

Top Zipcodes Near Minnesota

There are a total of 41 zipcodes in or near Minnesota. The average rent for all of these zipcodes is $2,226. One zipcode has an average rent that is lower than that. The zipcode with the most affordable average rent for apartment listings is 60804, Cicero, IL at $1,150 per month. In comparison, the zipcode with the most expensive average rent of $3,250 per month is 60614, Chicago, IL.

Studios in these zipcodes have an average rent of $1,463. That's at least $38 per sqft. Do you need more space than that? Average rent for one bedroom rentals for the zipcodes in or near Minnesota is $1,825 per month. Or in other words, $33 per sqft. Meanwhile, two bedroom apartments will cost you an average of $2,409 per month. Which comes out to $27 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	$1,503	$2,100	$3,125	$2,350
60613, Chicago, IL	$1,500	$2,000	$2,998	$2,400
60614, Chicago, IL	$1,750	$2,500	$3,600	$3,250
60640, Chicago, IL	$1,300	$1,825	$2,500	$1,955
60626, Chicago, IL	$1,200	$1,450	$1,950	$1,650
60647, Chicago, IL	$1,595	$2,095	$2,695	$2,495
60611, Chicago, IL	$2,000	$2,506	$4,100	$3,150
60622, Chicago, IL	$1,793	$2,150	$2,800	$2,900
60610, Chicago, IL	$1,695	$2,350	$3,795	$2,616
60625, Chicago, IL	$1,373	$1,775	$2,150	$2,138

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 $1,349. 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 $899 and an average price per square feet of $27.35. There are a total of 46 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 $1,199 and an average price per square feet of $20.80. There are a total of 146 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 $1,355 and an average price per square feet of $18.40. There are a total of 185 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 -0.51%, two bedroom rental prices have changed by -0.47%, three bedroom rental prices have changed by 0.04% year-over-year.

What is a reasonable rent price in Minnesota?

A reasonable rent price in Minnesota is around $1,079/month. You can search for these reasonably priced rental listings on RentHop.