Moment
650 Portland Ave S,
Minneapolis, MN 55415
Studio - 2 Beds | $1,553 - $5,413
Rental Market Trends in Minneapolis, MN
What is the average rent in Minneapolis, MN?
$1,383/month
Average Rent
661 Sq Ft
Average Apartment Size
+1.4%
Increase in the Last Year
As of June 2025, the average rent in Minneapolis, MN is $1,383 per month. For comparison, the national average rent price in the US is currently $1,627/month, which means Minneapolis rent prices are 15% lower than the national average. When you rent an apartment in Minneapolis, you can expect to pay about $1,112 per month for a studio, $1,383 for a one-bedroom apartment, and around $2,048 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $2,347 or more.
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
How much has average rent changed in Minneapolis, MN?
In the past year, rent has increased by 1.4%, which averages out to $20 more per month.
Market Trends Over Time
The chart below compares average rent prices to the previous year during the same time period.
Last Updated June 2025
Legend
2024
2025
Rent Ranges in Minneapolis, MN
Last Updated June 2025
$1,001 - $1,500
Most rental prices fall within this range
Percentage*
Rent Range
2%
Below $700/month
33%
$700 - $1,000/month
42%
$1,001 - $1,500/month
15%
$1,501 - $2,000/month
7%
Above $2,000/month
Rent by Neighborhood
Last Updated Today
What are the most affordable neighborhoods in Minneapolis?
Based on current rent prices, Cherry Meadows, The Ponds and Unity Place are the most affordable neighborhoods in Minneapolis.
Neighborhood
Average Rent
Average Sq Ft
What are the most expensive neighborhoods in Minneapolis?
Based on current rent prices, Near North, Walton Hills and Eliot View are the most expensive neighborhoods in Minneapolis.
Neighborhood
Average Rent
Average Sq Ft
Which Minneapolis neighborhoods have the most rentals available?
The neighborhoods in Minneapolis with the most apartments available are Uptown Minneapolis, Downtown Minneapolis and Warehouse District .
Neighborhood
Average Rent
Average Sq Ft
What salary do I need to live comfortably in Minneapolis, MN?
Because the average rent in Minneapolis is $1,383, you’ll want to make about $4,610 per month or $55,320 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.
Cost of Living
The cost of living in Minneapolis, MN is 6.4% lower than the national average. Generally, housing in Minneapolis is 17.1% less expensive than the national average, with rent falling between $1,112 - $2,347. You can expect to pay 2.6% more for groceries, 3.4% less for utilities, and 3.6% less for transportation.
How does Minneapolis, MN compare to other nearby cities and neighborhoods?
Use the tool below to compare Minneapolis, 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.
Studio
-
$793/month
One Bedroom
-
$1,142/month
Two Bedroom
-
$1,681/month
Three Bedroom
-
$1,120/month
Nearby City Rent Trends
Apartment communities in Minneapolis we think you'll love
Property Management Companies in Minneapolis, MN
Kleinman Realty
-
58
Communities
-
3,599
Units
-
18
Cities
30 Communities in Minneapolis
Hornig Companies, Inc.
-
35
Communities
-
2,090
Units
-
10
Cities
20 Communities in Minneapolis
Bader Companies
-
73
Communities
-
10,908
Units
-
30
Cities
17 Communities in Minneapolis
Halverson and Blaiser
-
48
Communities
-
3,581
Units
-
19
Cities
17 Communities in Minneapolis
Willow Bridge
-
704
Communities
-
191,440
Units
-
328
Cities
15 Communities in Minneapolis
Sela Investments
-
19
Communities
-
1,274
Units
-
4
Cities
13 Communities in Minneapolis
Cushman & Wakefield
-
544
Communities
-
127,049
Units
-
279
Cities
12 Communities in Minneapolis
Bigos Management
-
53
Communities
-
10,059
Units
-
23
Cities
12 Communities in Minneapolis
Learn More with Helpful Articles
Rental management, simplified
Our all-in-one suite of property manangement software makes the rental process easy. Screen tenants, manage payments, and more – all on Apartments.com
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 2025.
* Percentages may not total 100 due to rounding.