2821 Portland Ave
2821 Portland Ave,
Minneapolis, MN 55407
$1,400
2 Beds
Phillips continues to grow as a sought-after urban locale just south of Downtown Minneapolis thanks to its developing business scene, engaging community groups, a calendar of local events, and an active, diverse community. Phillips encompasses four smaller neighborhoods: Ventura Village, Phillips West, East Phillips, and Midtown Phillips. South of downtown by just over two miles, Phillips has links to the heart of the city; yet its parks, historic Franklin Avenue, and thriving arts scene will make anyone feel at home.
Phillips hosts both locally owned businesses and some of Minneapolis’ biggest companies, such as Wells Fargo Bank and Abbott Northwestern Hospital. Because of the nearby employers, namely the hospitals and shopping centers along Franklin Avenue and East Lake Street, there’s an incredible variety of rentals. Long-standing apartments and townhomes share the street with eye-catching Victorian homes, some still occupied by single families, others split into rental units. Either way, Phillips provides a convenient environment for those who can walk to work, or those who just want to be close to the action.
As of December 2025, the average apartment rent in Phillips is $1,055 for a studio, $800 for one bedroom, $895 for two bedrooms, and $1,153 for three bedrooms. Apartment rent in Phillips has increased by 1.3% in the past year.
Studio
385 sq ft
Average Sq Ft
$1,055/month
Average Rent
1 BR
540 sq ft
Average Sq Ft
$800/month
Average Rent
2 BR
259 sq ft
Average Sq Ft
$895/month
Average Rent
3 BR
725 sq ft
Average Sq Ft
$1,153/month
Average Rent
Very Walkable
out of 100 WalkScore® Rating
If you enjoy walking, you’ll enjoy renting in this area! It’s a very walkable neighborhood.
Good Transit
out of 100 TransitScore® Rating
The area around this property has good transit with many nearby transportation options.
Biker's Paradise
out of 100 BikeScore® Rating
Do you prefer to get around on two wheels? You’ll love living in this neighborhood, which is considered a biker’s paradise.
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† Our analysis of utilities, groceries, transportation, healthcare, home prices, and other goods and services is sourced from the Cost of Living Index, a respected benchmark published by the Council for Community and Economic Research (C2ER) that provides a thorough overview of living expenses across different regions.
Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
Consumer goods, services, and home prices are sourced from the Cost of Living Index published by the Council for Community and Economic Research (C2ER). The data on this page is updated quarterly. It was last published in November 2025.