Median rent for residential apartments in Minneapolis, MN as of Jan, 2023.
Remember to negotiate your rent according to median rental prices. Also, take into account that the price depends on the size/amenities of the apartment.
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820 Minneapolis, MN, USA apartments for rent
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Minneapolis
Welcome to the home of Great Lakes. The name “Minneapolis” comes from a combination of Dakota Sioux word “mni” which means “water” and “polis” which means city in Greek. Come take a splash in Water City! Minneapolis is waiting for you.
| Population | 425,395 |
| Median Age | 32.2 |
| Poverty Rate | 21% |
| Household Income | $63,590 |
| Number Of Employees | 243,648 |
| Median Property Value | $269,500 |
City Overview
Over 390,000 people live in Minneapolis, making it the largest city in the state of Minnesota and the 47th most populous city in the nation. We can thank the innovative students at the University of Minnesota - Minneapolis for masterminding three new apple varieties - the Haralson, Honeycrisp and the Sweetango! Minneapolis is known for its spacious parks, deep lakes, excellent tater tots, and, of course, the artist formerly known as Prince.
Want to learn some more about Minneapolis? Check out the articles from the Rentberry blog:
Best Places to Live: Cities for Cycling Best Places to Live: Cities to Maintain a Healthy Lifestyle The Top 10 Cities For Entrepreneurs In The US
Climate
Temperatures in Minneapolis range from 15°F in January to 73.8°F in July. Humidity lurks in every corner from May to September - so keep your straightening balm ready!
Cuisine
Thanks to the wide subgroups of immigrants calling Minneapolis home, imaginative cuisine from various cultures can be found here mixed with traditional American favorites. Chokecherries, serviceberries, blueberries, thimbleberries, and hazelnuts grow wildly in Minnesota, while krumkake, lingonberries, kransekake, jello salads, padaek, and poblanos are locally consumed foods that have been added not so long ago. Be sure to try the Minneapolis signature tater tot hot dish - a deep casserole featuring crispy tots mixed with ground beef, green beans, corn, and cream of mushroom soup.
Culture
A heavy international touch can be felt all over the state of Minnesota - and especially in Minneapolis. Prominent immigrant groups are Irish Americans, German Americans, Native Americans, Polish Americans, and Scandinavian Americans.
Demographics
White people comprise 3/5 of the city's population. They are mostly of German and Scandinavian descent. Other notable nationalities that formed the city’s ethnic landscape include English, Irish, Polish, French. Minneapolis also has the 4th highest percentage of gay, lesbian and bisexual people among major US cities. LGBT community accounted for 12.5% of population putting it right behind San Francisco.
Landmarks
Walker Art Center, Minneapolis Institute of Art, Guthrie Theater, Mill City Museum, Minneapolis Sculpture Garden, Minnehaha Park, American Swedish Institute, Lake Harriet, Basilica of Saint Mary, Orchestra Hall, Theodore Wirth Park, The Cedar Cultural Center.
Outdoors
Minnehaha Falls is a flowing and active waterfall that serves as the centerpiece of Minnehaha Park. Traipse around the park in summer, spring, winter and fall - as each season gives this place a much different yet equally enjoyable feel. Take a boat down the Chain of Lakes, conquer the back of a trained horse and trot over the Stone Arch Bridge. There are dozens of ways to get blissfully lost in the lush greenery Minneapolis has to offer.
Housing Trends
How much is an apartment in Minneapolis, MN, USA
Average apartment rent in Minneapolis: $1,984 (-1.6%)
| Rent Price | Jan | vs Last Month |
|---|---|---|
| Studio apartments | $1,328 | -5.9% |
| 1-bed apartments | $1,636 | -0.6% |
| 2-bed apartments | $2,427 | +12.2% |
| 3-bed apartments | $2,758 | +0.8% |
| 4+ bed apartments | $2,117 | -4.5% |
Over the Jan 2023, the average rent for an apartment in/near Minneapolis, MN decreased by 1.6% to $1,984.
Compared to the last month, the average price for a rental studio in Minneapolis, MN has decreased by 5.9%. You can expect to rent the studio for $1,328 on average this month. Breaking it down in details, we now see that the average price for 1-bed apartment decreased by 0.6% to $1,636. Pricing for 2-bed apartment also increased by 12.2% and a place of this size will now cost you $2,427. 3-bed apartment rent pricing starts at $2,758, it increased by 0.8% lately. We tend to note the rise of 4- and more bed apartment pricing. It decreased by 4.5% and made it down to $2,117.
| Rent Type Price | Jan | vs Last Month |
|---|---|---|
| Lofts for rent | $1,947 | +0.2% |
| Houses for rent | $2,169 | -5.7% |
| Duplexes for rent | $1,763 | +0% |
| Condos for rent | $2,734 | +64.7% |
| Apartments for rent | $1,730 | -3.5% |
| Townhouses for rent | $3,549 | -1.4% |
| Rooms for rent | $756 | -6% |
The median rent for an apartment in Minneapolis, MN decreased by 3.5% to $1,730. Statistics show that house rent price decreased by 5.7% this month making it up to $2,169. Condos faced an upward trend these days. The median rent for a condo increased by 64.7%, it’s now available for $2,734. An average duplex is now available for $1,763, cause median rent for a duplex remains the same this month. The median rent for a loft faced changes as well, it increased by 0.2%, the price tag now starts at $1,947. An average room will now go for $756, the median rent price for a room decreased by 6%. The median rent for a townhouse decreased by 1.4%, you’ll have to spend around $3,549 to get one.
Rent vs Own
Finding Apartments For Rent in Minneapolis
Rentberry is the first stop for finding long-term apartments for rent in Minneapolis, Minnesota. There are many apartments in Minneapolis ready for you to call them home. Use our powerful search tool to look for townhomes or duplexes for rent facing the St. Croix River. Looking for a condo for rent with hardwood floors? Search by the most important amenities that you desire with Rentberry. Are you strict on price? Location? Being close to the Great Lakes? Renting a duplex with all utilities included? Feel free to sweat the small stuff - Rentberry has you covered.
Search 2, 3, 4, and even 5 bedroom homes for rent in Minneapolis. Try selecting a balcony, sauna, or anything else you’d like to be a part of the place you’ll call home. Searching for long-term rental apartments in Minneapolis with Rentberry is not only easy, but it also saves you a lot of time and energy - free up your time to enjoy your new Minneapolis home.
Upload your rental information to Rentberry, include your references, pay stubs, credit check results, local ID, – anything that shows that you’re the perfect applicant to rent out to. Have you been searching for a while, but haven’t found the perfect property just yet? Search for thousands of long-term townhouses, condos, duplexes, or apartments for rent in Minneapolis through Rentberry. Also, try looking for apartments or duplexes with utilities included in the Minneapolis metropolitan area. Searching for spacious apartments in Dinkytown? Use Rentberry to search thousands of condos and townhomes for rent in specific Minneapolis’ neighborhoods.
Don’t know which district to choose? Don't worry, we’ve got you covered. Check out our in-depth neighborhood write-up below to find the best duplexes, townhomes, or houses in prime Minneapolis suburbs for rent. Traveling with a fine feline or a friendly pup? Search through thousands of pet-friendly apartments in Minneapolis for rent. Are you currently enrolled in a college or university? Search for apartments in Minneapolis for rent around the top colleges - University of Minnesota - Minneapolis, Carlson School of Management, and Augsburg College.
Minneapolis Neighborhoods
Uptown
Uptown is the center of culture in Minneapolis - so there are a lot of young coeds looking to have a great time. This neighborhood offers many ways to relax, blow off steam, or get the party started from Thursday to the wee hours of Monday morning. Find condos or townhomes for rent in Uptown. Check out the Uptown Art Fair every August to eat from food trucks, make pottery, have a dance, and buy moderately priced art sculptures.
North Loop
Everyone wants a piece of North Loop - young professionals, trendy artists, and young families. They all look for condos or townhomes for rent in this neighborhood. Surrounded by creative agencies, enticing entertainment outlets, and bespoke theater houses - prices are a bit higher in this Minneapolis district, but it is well worth the premium price. After all, living in the loop keeps you in the loop!
Downtown West
Also known as the Warehouse District, this neighborhood is home to Minneapolis’s most breathtaking buildings. Enjoy a handmade cocktail at the Foshay Tower, and get the panoramic view of the city from the lookout. Try out a Minnesota classic - Walleye fish served over Milanese sauce at renowned Italian restaurant Zelo. Apartments in Downtown West are a bit pricey, but you can find an affordable flat starting from $875 per month.
Dinkytown
Come on down to Dinkytown! Once you get past the wacky name, you’ll quickly realize that Dinkytown has a multitude of attractions to offer. Hang out with local Dinky dwellers for happy hour at Kafe 421 on 14th Avenue. Or indulge in a plate of Chinese food from Shuang Cheng Chinese Restaurant on 4th. A lot of students from the University of Minnesota - Minneapolis live here in Dinkytown, which keeps the prices for apartments moderate.
Marcy-Holmes
Welcome to the first official neighborhood of Minneapolis. It is safe, rich with history, and engulfed by prosperity. Looking for a tipsy evening? Join lively locals at popular bar LUSH on Central Avenue for bottomless cocktails and unforgettable drag shows. Check out furnished apartments for rent in Marcy-Holmes.
Northeast Park
If you’ve been dreaming of living in a duplex with high ceilings and huge mirrors, then Northeast Park is where you should stay in Minneapolis. The Quarry shopping center located in the center of town will supply all of your retail needs. Enjoy a craft beer at Tattersall Distilling on Central Avenue. Search for modern apartments in Northeast Park for rent.
Hiawatha
This family-friendly neighborhood of Minneapolis is a catch for renters of all ages. Want to be neighbors with a flowing active waterfall? Welcome to your personal oasis. Hiawatha neighborhood was named after Ojibwe warrior - and his love Minnehaha gave the name to the local waterfall. Beautiful, isn't it? To live amongst a relic love story in Minneapolis, look for condos or townhouses for rent in Hiawatha.
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