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Rental Market Trends in Inver Grove Heights, MN

Updated July 2026

What is the average rent in Inver Grove Heights, MN?

$1,465/month

Average Rent

797 Sq Ft

Average Size

+2.1%

Change / Year

734

Available Apartments

Inver Grove Heights, MN Rental Market Overview

The average rent in Inver Grove Heights, MN is $1,465 per month. For comparison, the national average rent price in the US is currently $1,662/month, which means Inver Grove Heights rent prices are 12% lower than the national average.

  • Studio apartments in Inver Grove Heights average $1,276 per month.
  • One-bedroom apartments in Inver Grove Heights average $1,465 per month.
  • Two-bedroom apartments in Inver Grove Heights average $1,841 per month.
  • Three-bedroom apartments in Inver Grove Heights average $2,494 or more per month.

Data Updated: July 1, 2026

Average Rent by Home Type

Bedrooms
Average Rent
Average Sq Ft
Studio
$1,276/month
567 Sq Ft
One Bedroom
$1,465/month
797 Sq Ft
Two Bedroom
$1,841/month
1,102 Sq Ft
Three Bedroom
$2,494/month
1,378 Sq Ft
View Inver Grove Heights Apartments

How much has average rent changed in Inver Grove Heights, MN?

In the past year, rent has increased by 2.1%, which averages out to $32 more per month.

Market Trends Over Time

July 2026

2025 2026
Market Trends Over Time

Rent Ranges in Inver Grove Heights, MN

July 2026
$1,501 - $2,000
Most rental prices fall within this range
Rent Ranges in Inver Grove Heights, MN
Percentage*
Rent Range
0% Below $700/month
0% $700 - $1,000/month
31% $1,001 - $1,500/month
38% $1,501 - $2,000/month
31% Above $2,000/month

Rent by Neighborhood

  • Most Affordable
  • Most Expensive
  • Most Available

What are the most affordable neighborhoods in Inver Grove Heights?

Based on current rent prices, Lake Cove Village and Schmidt Lake" are the most affordable neighborhoods in Inver Grove Heights.

Calculate Rent Affordability
Neighborhood
Average Rent
Average Sq Ft
Lake Cove Village
$1,165/month
755 Sq Ft
Schmidt Lake
$1,165/month
755 Sq Ft

What are the most expensive neighborhoods in Inver Grove Heights?

Based on current rent prices, Lake Cove Village and Schmidt Lake" are the most expensive neighborhoods in Inver Grove Heights.

Calculate Rent Affordability
Neighborhood
Average Rent
Average Sq Ft
Lake Cove Village
$1,165/month
755 Sq Ft
Schmidt Lake
$1,165/month
755 Sq Ft

Which Inver Grove Heights neighborhoods have the most rentals available?

The neighborhoods in Inver Grove Heights with the most apartments available are Lake Cove Village and Schmidt Lake" .

Calculate Rent Affordability
Neighborhood
Average Rent
Average Sq Ft
Lake Cove Village
$1,165/month
755 Sq Ft
Schmidt Lake
$1,165/month
755 Sq Ft
This information is based on data collected by CoStar Group researchers.†

What salary do I need to live comfortably in Inver Grove Heights, MN?

Because the average rent in Inver Grove Heights is $1,465, you’ll want to make about $4,883 per month or $58,596 per year. The general guideline is to pay no more than 30 percent of your monthly income on rent. However, you’ll want to consider additional factors, such as your monthly bills and other expenses. Use our rent affordability calculator to help determine how much to budget for rent.

City

Inver Grove Heights, MN

734 Available Apartments for Rent

Search for Nearby Apartments

How does Inver Grove Heights, MN compare to other nearby cities and neighborhoods?

Use the tool below to compare Inver Grove Heights, MN to other nearby cities and neighborhoods. The Apartments.com neighborhood guides provide you with insight into the area’s transportation, things to do, and more.

View the Inver Grove Heights Area Guide

Apartment Averages

Lake Cove Village

Inver Grove Heights, MN

Lake Cove Village

Inver Grove Heights, MN

Studio
-
-
One Bedroom
$1,144/month
$1,144/month
Two Bedroom
$1,314/month
$1,314/month
Three Bedroom
-
-
View Rentals
View Rentals

Compare Rent Trends Nearby

Get a clearer picture of the area by viewing rent trends in nearby cities.

  • South Saint Paul

    South Saint Paul

  • West Saint Paul

    West Saint Paul

  • Eagan

    Eagan

  • Rosemount

    Rosemount

Apartment Communities in Inver Grove Heights We Think You'll Love

Avalon Apartments & Townhomes

Avalon Apartments & Townhomes

9800 Diffley Ct, Inver Grove Hts,
Inver Grove Heights, MN 55077

1-3 Beds | $1,863 - $2,928

Avana Southview

Avana Southview

4930 Ashley Ln,
Inver Grove Heights, MN 55077

Studio - 2 Beds | $1,305 - $9,518

Argenta Townhomes

Argenta Townhomes

7398 Arch Way,
Inver Grove Heights, MN 55077

1-3 Beds | $1,945 - $3,145

Ives of Inver Grove

Ives of Inver Grove

7025 Agate Trl,
Inver Grove Heights, MN 55077

Studio - 3 Beds | $1,455 - $4,495

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Frequently Asked Questions

What is the average rent in Inver Grove Heights?

The average rent in Inver Grove Heights is $1,465 per month, which is 11.9% lower than the national average of $1,662.

Are rents going up or down in Inver Grove Heights?

Rents in Inver Grove Heights, MN are increasing, with prices up 2.1% year-over-year and $32 more per month.

What rent range is most common in Inver Grove Heights?

In Inver Grove Heights, MN, 38% of apartments fall between $1,501 - $2,000/month, though prices may vary depending on location and other factors.

United States Minnesota Inver Grove Heights Rental Trends

Methodology

† 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 June 2026.

Demographic information comes from Neustar and combines detailed address data with U.S. Census and American Community Survey statistics to produce reliable local estimates.

* Percentages may not total 100 due to rounding.

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Equal Housing Opportunity

© 2026 CoStar Group, Inc.

Equal Housing Opportunity