Average Rent Prices in Minnesota (MN)
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.
Average Rent Prices in Minnesota (MN) Visual Chart
Average Rent Prices in Minnesota (MN) by Metro Area
|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|
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.
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