Minnesota renters looking for the least expensive areas to rent should look for the areas towards the red end of the spectrum on the rent cost map. Those who don't mind paying for high-end and luxury apartments should seek out apartments in the purple and dark green areas.
Rental Price Key
Luxury
High-end
Mid-tier
Most affordable
On average, the cost of rent in Minnesota is about $1,235 per month. This puts it in the 56th percentile compared to the nation average cost of rent, which is $1,385. Households in Minnesota have a median income of $6,584 per month so the average renter in Minnesota is spending roughly 19% of their earnings on housing.
Nationally, and in Minnesota, home values are the data point most closely correlated with the cost of rent. The median price of a home in Minnesota is $321,524 right now, which is higher than states nearby, meaning that rents in Minnesota also tend to be higher versus these nearby states.
Higher rent prices are common in the central parts of Minnesota while lower rent rates are often available in southwestern areas.
Nearby States
- Wisconsin: less expensive rent prices
- Iowa: less expensive rent prices
- South Dakota: less expensive rent prices
- North Dakota: less expensive rent prices
- Nebraska: less expensive rent prices
- Illinois: more expensive rent prices
- Michigan: less expensive rent prices
- Missouri: less expensive rent prices
- Kansas: less expensive rent prices
- Indiana: less expensive rent prices
States with Similar Populations
- Colorado: more expensive rent prices
- Wisconsin: less expensive rent prices
- Maryland: more expensive rent prices
- Missouri: less expensive rent prices
- Alabama: less expensive rent prices
- South Carolina: less expensive rent prices
- Louisiana: less expensive rent prices
- Kentucky: less expensive rent prices
- Tennessee: less expensive rent prices
- Indiana: less expensive rent prices
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