Average Rent Prices in Minnesota (MN)
$7361
Studio
$8141
1BR
$1,0201
2BR
$1,4081
3BR
$1,6881
4BR
As of 2023, the overall average fair market rent for a residential rental property in Minnesota is $1,133. Average rent prices in Minnesota sit below the national average rent of $1,274, in which Minnesota ranks as the as the 26th lowest rent among all 50 states and the 25th highest rent among all 50 states within the United States. In Minnesota’s large metropolitan areas such as Minneapolis, MN, the average rent prices tend to be higher, while alternative areas such as Woodbury, MN, can provide more affordable options.
1Based on average of Fair Market Rents (FMRs) for 0-4 bedroom residential rental units throughout the United States, excluding Puerto Rico.
Rent Rankings
25th
Highest Rent Among 50 States
26th
Lowest Rent Among 50 States
Below
The National Rent Average
Definitions
Studio – A one-room unit with a private bathroom.
1BR – A unit that has a separate bathroom and a separate bedroom.
2BR – A unit that has two separate and distinct bedrooms.
3BR – A unit that has 3 separate and distinct bedrooms.
4BR – A unit that has 4 separate and distinct bedrooms.
Fair Market Rent – Gross rent estimate for a standard rental unit in a given market.
Average Rent Prices in Minnesota (MN) Visual Chart
Average Rent Prices in Minnesota (MN) by Metro Area
| wdt_ID | Metro | Studio | 1BR | 2BR | 3BR | 4BR |
|---|---|---|---|---|---|---|
| 1 | Duluth, MN-WI HUD Metro FMR Area | 780 | 838 | 1.087 | 1.435 | 1.789 |
| 2 | Fargo, ND-MN MSA | 634 | 749 | 911 | 1.295 | 1.552 |
| 3 | Fillmore County, MN HUD Metro FMR Area | 659 | 663 | 873 | 1.184 | 1.323 |
| 4 | Grand Forks, ND-MN MSA | 683 | 702 | 890 | 1.265 | 1.516 |
| 5 | La Crosse-Onalaska, WI-MN MSA | 685 | 799 | 1.024 | 1.409 | 1.744 |
| 6 | Lake County, MN HUD Metro FMR Area | 716 | 825 | 997 | 1.316 | 1.639 |
| 7 | Le Sueur County, MN HUD Metro FMR Area | 711 | 755 | 994 | 1.376 | 1.625 |
| 8 | Mankato-North Mankato, MN MSA | 828 | 845 | 1.056 | 1.478 | 1.799 |
| 9 | Mille Lacs County, MN HUD Metro FMR Area | 676 | 758 | 998 | 1.408 | 1.700 |
| 10 | Minneapolis-St. Paul-Bloomington, MN-WI HUD Metro FMR Area | 1.007 | 1.149 | 1.410 | 1.916 | 2.209 |
| 11 | Rochester, MN HUD Metro FMR Area | 847 | 985 | 1.224 | 1.740 | 2.085 |
| 12 | St. Cloud, MN MSA | 754 | 781 | 972 | 1.309 | 1.552 |
| 13 | Wabasha County, MN HUD Metro FMR Area | 593 | 727 | 826 | 1.174 | 1.407 |
| Metro | Studio | 1BR | 2BR | 3BR | 4BR |
Based on average of Fair Market Rents (FMRs) for 0-4 bedroom residential rental units throughout United States excluding Puerto Rico for calendar year 2023.
Methodology
Areas with insufficient inventory or populations less than 25,000 were excluded from this analysis. Averages are based on the combined average of 0-4 bedroom residential rental properties throughout the United States excluding Puerto Rico.
Data
Rent prices are based on aggregated data from one and/or several sources noted below:
Disclaimer
The information included is used for illustrative purposes only. The data contained herein does not constitute financial, legal, or any material advice. Data is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals before making any material decisions.
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