Average Rent Prices in Minnesota (MN)
$8131
Studio
$8751
1BR
$1,1011
2BR
$1,5031
3BR
$1,8201
4BR
As of 2024, the overall average fair market rent for a residential rental property in Minnesota is $1,223. 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.
Minneapolis (MA) National Rent Rankings
25th
Highest Rent Among 50 States
26th
Lowest Rent Among 50 States
Below
The National Rent Average
Average Rent Prices in Minnesota (MN) Visual Chart
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) by Metro Area
| wdt_ID | Metro | Studio | 1BR | 2BR | 3BR | 4BR |
|---|---|---|---|---|---|---|
| 1 | Duluth, MN-WI HUD Metro FMR Area | 762 | 868 | 1.113 | 1.485 | 1.889 |
| 2 | Fargo, ND-MN MSA | 656 | 781 | 944 | 1.330 | 1.602 |
| 3 | Fillmore County, MN HUD Metro FMR Area | 684 | 689 | 905 | 1.234 | 1.443 |
| 4 | Grand Forks, ND-MN MSA | 731 | 736 | 929 | 1.309 | 1.577 |
| 5 | La Crosse-Onalaska, WI-MN MSA | 760 | 866 | 1.122 | 1.515 | 1.904 |
| 6 | Lake County, MN HUD Metro FMR Area | 774 | 860 | 1.130 | 1.502 | 1.918 |
| 7 | Le Sueur County, MN HUD Metro FMR Area | 804 | 845 | 1.110 | 1.564 | 1.758 |
| 8 | Mankato-North Mankato, MN MSA | 897 | 903 | 1.101 | 1.552 | 1.868 |
| 9 | Mille Lacs County, MN HUD Metro FMR Area | 855 | 861 | 1.131 | 1.440 | 1.919 |
| 10 | Minneapolis-St. Paul-Bloomington, MN-WI HUD Metro FMR Area | 1.174 | 1.327 | 1.622 | 2.188 | 2.478 |
| 11 | Rochester, MN HUD Metro FMR Area | 814 | 927 | 1.148 | 1.618 | 1.948 |
| 12 | St. Cloud, MN MSA | 877 | 906 | 1.155 | 1.531 | 1.820 |
| 13 | Wabasha County, MN HUD Metro FMR Area | 785 | 806 | 905 | 1.275 | 1.536 |
| 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 2024.
Minnesota (MN) Residential Rental Agreements
A Minnesota (MN) residential lease agreement is a rental property document that includes the terms and conditions between a landlord who rents the property and the tenant in the state of Minnesota. The contract outlines essential information, such as rent amount, applicable late fees, grace periods, and landlord-tenant responsibilities.
Average Rent Prices in Other US States 2024
Rent prices for each state across the United States can greatly vary. Click on a State below to see the specific fair market residential rent prices for that state:
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1Based on average of Fair Market Rents (FMRs) for 0-4 bedroom residential rental units throughout the United States, excluding Puerto Rico.
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.