Average Rent In Minnesota For January 2024
Average Rent
What is the average rent in Minnesota?
The average rent in Minnesota for January 2024 is $1,266, according to the most recent data from ApartmentList - January 3, 2024. The average rent of a 2-bedroom apartment in Minnesota is $1,339. The average rent of a 1-bedroom apartment in Minnesota is $1,118.
Compared to the national average of $1,379, Minnesota rent costs -8.2% less. Read our analysis of rents by state to see how Minnesota ranks.
Here's a look at how average rents have changed over time:
How Does Minnesota Rent Compare To The Rest Of The Country?
| Statistic | MN | USA | % Difference |
|---|---|---|---|
| Average Rent | $1,266 | $1,379 | -8.2% |
| M-o-M Change | -$4 | -$11 | -63.6% |
| Y-o-Y Change | $2 | -$14 | -114.3% |
| M-o-M % Change | -0.3% | -0.8% | - |
| Y-o-Y % Change | 0.2% | -1.0% | - |
Median Rent By Bedrooms In Minnesota
1-Bedroom
2-Bedroom
As you would expect, the median price for rent in Minnesota increases as the number of bedrooms in the unit increases. 1-Bedroom rent is the cheapest in Minnesota clocking in at $1,118, while a 2-bedroom rental will set you back $1,339 per month.
If you don't mind having roommates, the best option on a per room basis is a 2-bedroom rental for $669/room/month.
Read on to find out more or for more on Minnesota check out:
- Best Places To Live In Minnesota
- Cheapest Places To Live In Minnesota
- Most Dangerous Cities In Minnesota
Month Over Month Minnesota Rent Statistics
M-o-M Increase
M-o-M Increase
Minnesota has experienced a -$4 change in rent over the past month going from $1,270 to $1,266. That change comes out to -0.3%.
For reference, the US national average rent changed -$11 in the past month or -0.8%.
Here's a look at the month over month change for each month since 2017 for Minnesota:
Year Over Year Minnesota Rent Statistics
Y-o-Y Increase
Y-o-Y Increase
Over the past year, the average rent in Minnesota changed $2 from $1,264 to $1,266. A change of $2 means that rents changed 0.2% in a year.
That compares to the US national change of -$14 in the past year or -1.0%.
Here's a look at the year over year change by month since 2017 for Minnesota:
The 10 Places With The Highest Rent In Minnesota
Population: 7,187
Median Rent: $2,694
More on Minnetrista: Data | Crime | Cost Of Living | Real Estate
Population: 32,257
Median Rent: $1,737
More on Andover: Data | Cost Of Living | Real Estate
Population: 7,887
Median Rent: $1,687
More on Orono: Data | Crime | Cost Of Living | Real Estate
Population: 68,362
Median Rent: $1,557
More on Maple Grove: Data | Crime | Cost Of Living | Real Estate
Population: 10,250
Median Rent: $1,553
More on Arden Hills: Data | Cost Of Living | Real Estate
Population: 67,648
Median Rent: $1,549
More on Woodbury: Data | Crime | Cost Of Living | Real Estate
Population: 25,853
Median Rent: $1,506
More on Ramsey: Data | Crime | Cost Of Living | Real Estate
Population: 61,056
Median Rent: $1,502
More on Lakeville: Data | Crime | Cost Of Living | Real Estate
Population: 15,630
Median Rent: $1,499
More on Otsego: Data | Cost Of Living | Real Estate
Population: 5,920
Median Rent: $1,468
More on Medina: Data | Crime | Cost Of Living | Real Estate
Learn More About Living In Minnesota
About Chris Kolmar
Chris Kolmar has been in the real estate business for almost ten years now. He originally worked for Movoto Real Estate as the director of marketing before founding HomeSnacks.
He believes the key to finding the right place to live comes down to looking at the data, reading about things to do, and, most importantly, checking it out yourself before you move.
If you've been looking for a place to live in the past several years, you've probably stumbled upon his writing already.
You can find out more about him on LinkedIn.