Minneapolis, MN Rental Market
Minneapolis is a Fortune 500 powerhouse, home to Target, Best Buy, UnitedHealth Group, 3M, and General Mills within the Twin Cities metro. Minneapolis-Saint Paul International Airport (MSP) is one of the busiest hub airports in the country, further diversifying the economy. A strong arts and culture scene, excellent parks system, and high quality of life attract well-educated, high-income renters, supporting consistent demand across a broad range of neighborhoods.
Get a rent estimate for an address in MinneapolisAverage Rent in Minneapolis, MN
$1,430
per month · 2026-06
Market Score
Key Facts — Minneapolis, MN Rental Market
- Average rent in Minneapolis, MN:$1,430/mo
- Median rent:$1,316/mo
- Rent range:$725 – $3,150/mo
- Most common rental (2 bedrooms):$1,250/mo
- Active listings:2,200
- Avg days to lease:27 days
- Year-over-year change:+3.2%
- Median home value:$295,000
- Est. gross annual yield:5.8%
- Data as of:2026-06
Rent by Bedroom in Minneapolis, MN
Average monthly rent for each bedroom type based on current active listings in Minneapolis.
| Bedroom Type | Avg Rent/mo |
|---|---|
1 Bedroom | $1,025/mo |
2 Bedrooms | $1,250/mo |
3 Bedrooms | $1,600/mo |
4 Bedrooms | $1,975/mo |
5 Bedrooms | $2,250/mo |
Minneapolis Rental Market Statistics
Key indicators from the current Minneapolis, MN rental market.
2,200
Available now in Minneapolis
27
From list to lease
$1.10
Average across listings
1,295 sq ft
Typical rental size
$725 – $3,150
Min to max active listings
+3.2%
Avg rent vs. prior year
Investing in Minneapolis, MN Rental Properties
Estimated returns based on current market rents and median home values. Perform full due diligence before investing.
Median Home Value
$295,000
Typical purchase price in Minneapolis
Est. Gross Annual Yield
5.8%
Before expenses & vacancy
Avg Monthly Income
$1,430
At average market rent
Gross yield = (avg rent × 12) ÷ median home value. Does not include expenses, financing, vacancies, or management fees. Analyze a specific property in Minneapolis for a full cash-flow breakdown including all costs.
Minneapolis, MN Rental Market FAQ
Common questions about renting and investing in Minneapolis, MN.
What is the average rent in Minneapolis, MN?
The average rent in Minneapolis, MN is $1,430 per month as of 2026. One-bedroom apartments average $1,025/mo, two-bedrooms $1,250/mo, and three-bedroom homes $1,600/mo. Uptown, North Loop, and the Near North neighborhoods command above-average rents, while neighborhoods further from downtown offer more affordable options.
Is Minneapolis, MN a good place to invest in rental property?
Minneapolis offers a 5.8% estimated gross yield with a uniquely strong Fortune 500 employer concentration. Target, Best Buy, UnitedHealth, and 3M provide thousands of high-income tenants, while the University of Minnesota adds student demand. The city's strong, diversified economy and consistent population of young professionals support long-term rental demand.
How competitive is the Minneapolis, MN rental market?
Minneapolis averages just 27 days on market across 2,200+ active listings. The Uptown, Northeast, and North Loop neighborhoods are highly competitive, leasing within 2 weeks. The broad market provides investors with access to multiple neighborhoods and price points across the city.
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