The Otto
601 Industrial Blvd W,
Waconia, MN 55387
1-2 Beds | $1,647 - $2,385
Rental Market Trends in Waconia, MN
Updated July 2026
The average rent in Waconia, MN is $1,503/month.
Rent in Waconia is roughly equal to the national average rent of of $1,663/month.
$1,503/month
Average Rent
692 Sq Ft
Average Size
+1.9%
Change / Year
81
Available Apartments
Waconia rent varies by unit size and layout:
- Studio apartments in Waconia average $1,436 per month.
- One-bedroom apartments in Waconia average $1,503 per month.
- Two-bedroom apartments in Waconia average $1,807 per month.
- Three-bedroom apartments in Waconia average $1,854 or more per month.
Average Rent by Home Type
Bedrooms
Average Rent
Average Sq Ft
How much has average rent changed in Waconia, MN?
In the past year, rent has increased by 1.9%, which averages out to $29 more per month.
Market Trends Over Time
July 2026
2025
2026
Rent Ranges in Waconia, MN
July 2026
$1,001 - $1,500
Most rental prices fall within this range
Percentage*
Rent Range
0%
Below $700/month
0%
$700 - $1,000/month
43%
$1,001 - $1,500/month
43%
$1,501 - $2,000/month
14%
Above $2,000/month
What salary do I need to live comfortably in Waconia, MN?
Because the average rent in Waconia is $1,503, you’ll want to make about $5,010 per month or $60,120 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 Waconia, MN compare to other nearby cities and neighborhoods?
Use the tool below to compare Waconia, 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 Waconia Area GuideApartment Communities in Waconia We Think You'll Love
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
Guides for Managing Your Rental
Frequently Asked Questions
What is the average rent in Waconia?
The average rent in Waconia is $1,503 per month, which is 9.6% lower than the national average of $1,663.
Are rents going up or down in Waconia?
Rents in Waconia, MN are increasing, with prices up 1.9% year-over-year and $29 more per month.
What rent range is most common in Waconia?
In Waconia, MN, 43% 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.