Average Rent in Minneapolis-St. Paul-Bloomington, MN
The Fair Market Rent for a 2-bedroom in Minneapolis-St. Paul-Bloomington, MN is $1,709 per month, based on HUD data. With a median household income of $98,180, a household would spend 20.9% of income on housing at Fair Market Rent. Rent has increased 5.4% year over year. The national median 2BR FMR is $1,250/mo for comparison.
Fair Market Rent by Bedroom
| Size | Monthly FMR |
|---|---|
| Studio | $1,242 |
| 1 Bedroom | $1,405 |
| 2 Bedroom | $1,709 |
| 3 Bedroom | $2,262 |
| 4 Bedroom | $2,531 |
Affordability
| Metric | Value |
|---|---|
| Median Household Income | $98,180 |
| Rent Burden (2BR FMR / Income) | 20.9% |
| Income Needed for 2BR (30% rule) | $68,360/yr |