Itasca Apartments
609 8th St W,
Park Rapids, MN 56470
2-3 Beds | Call for Rent
Rental Market Trends in Park Rapids, MN
Updated September 2026
The average rent in Park Rapids, MN is $705/month.
Rent in Park Rapids is 58% lower than the national average rent of $1,665/month, making this one of the less expensive cities statewide.
$705/month
Average Rent
555 Sq Ft
Average Size
-0.9%
Change / Year
5
Available Apartments
Park Rapids rent varies by unit size and layout:
- Studio apartments in Park Rapids average $528 per month.
- One-bedroom apartments in Park Rapids average $705 per month.
- Two-bedroom apartments in Park Rapids average $802 per month.
- Three-bedroom apartments in Park Rapids average $983 or more per month.
Average Rent by Home Type
Bedrooms
Average Rent
Average Sq Ft
How much has average rent changed in Park Rapids, MN?
In the past year, rent has decreased by 0.9%, which averages out to $6 less per month.
Market Trends Over Time
September 2026
2025
2026
Rent Ranges in Park Rapids, MN
September 2026
$700 - $1,000
Most rental prices fall within this range
Percentage*
Rent Range
25%
Below $700/month
75%
$700 - $1,000/month
0%
$1,001 - $1,500/month
0%
$1,501 - $2,000/month
0%
Above $2,000/month
What salary do I need to live comfortably in Park Rapids, MN?
Because the average rent in Park Rapids is $705, you’ll want to make about $2,350 per month or $28,200 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.
How does Park Rapids, MN compare to other nearby cities and neighborhoods?
Use the tool below to compare Park Rapids, 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 Park Rapids Area GuideApartment Communities in Park Rapids We Think You'll Love
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Frequently Asked Questions
What is the average rent in Park Rapids?
The average rent in Park Rapids is $705 per month, which is 57.7% lower than the national average of $1,665.
Are rents going up or down in Park Rapids?
Rents in Park Rapids, MN are decreasing, with prices down 0.9% year-over-year and $6 less per month.
What rent range is most common in Park Rapids?
In Park Rapids, MN, 75% of apartments fall between $700 - $1,000/month, though prices may vary depending on location and other factors.
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 September 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.