The Murphy
15425 Dakota Ave,
Savage, MN 55372
Studio - 3 Beds | $2,350
Rental Market Trends in Savage, MN
Updated August 2026
The average rent in Savage, MN is $1,480/month.
Rent in Savage is roughly equal to the national average rent of of $1,664/month.
$1,480/month
Average Rent
772 Sq Ft
Average Size
+2.8%
Change / Year
85
Available Apartments
Savage rent varies by unit size and layout:
- Studio apartments in Savage average $1,386 per month.
- One-bedroom apartments in Savage average $1,480 per month.
- Two-bedroom apartments in Savage average $1,711 per month.
- Three-bedroom apartments in Savage average $1,882 or more per month.
Average Rent by Home Type
Bedrooms
Average Rent
Average Sq Ft
Bedrooms
Average Rent
Average Sq Ft
How much has average rent changed in Savage, MN?
In the past year, rent has increased by 2.8%, which averages out to $42 more per month.
Market Trends Over Time
August 2026
2025
2026
Rent Ranges in Savage, MN
August 2026
$1,001 - $1,500
Most rental prices fall within this range
Percentage*
Rent Range
0%
Below $700/month
7%
$700 - $1,000/month
40%
$1,001 - $1,500/month
33%
$1,501 - $2,000/month
20%
Above $2,000/month
Rent by Neighborhood
What are the most affordable neighborhoods in Savage?
Based on current rent prices, North Park is the most affordable neighborhood in Savage.
Neighborhood
Average Rent
Average Sq Ft
What are the most expensive neighborhoods in Savage?
Based on current rent prices, North Park is the most expensive neighborhood in Savage.
Neighborhood
Average Rent
Average Sq Ft
Which Savage neighborhoods have the most rentals available?
The neighborhood in Savage with the most apartments available is North Park .
Neighborhood
Average Rent
Average Sq Ft
What salary do I need to live comfortably in Savage, MN?
Because the average rent in Savage is $1,480, you’ll want to make about $4,933 per month or $59,196 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 Savage, MN compare to other nearby cities and neighborhoods?
Use the tool below to compare Savage, 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 Savage Area GuideStudio
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One Bedroom
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Two Bedroom
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Three Bedroom
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Compare Rent Trends Nearby
Get a clearer picture of the area by viewing rent trends in nearby cities.
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Burnsville
Avg Rent: $1,330/month
-
Prior Lake
Avg Rent: $1,507/month
-
Bloomington
Avg Rent: $1,425/month
-
Shakopee
Avg Rent: $1,489/month
-
Eden Prairie
Avg Rent: $1,592/month
-
Apple Valley
Avg Rent: $1,499/month
-
Lakeville
Avg Rent: $1,574/month
-
Richfield
Avg Rent: $1,191/month
Apartment Communities in Savage We Think You'll Love
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Frequently Asked Questions
What is the average rent in Savage?
The average rent in Savage is $1,480 per month, which is 11.1% lower than the national average of $1,664.
Are rents going up or down in Savage?
Rents in Savage, MN are increasing, with prices up 2.8% year-over-year and $42 more per month.
What rent range is most common in Savage?
In Savage, MN, 40% of apartments fall between $1,001 - $1,500/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 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.