Rent in Minnesota
The median 2-bedroom Fair Market Rent in Minnesota is $1,123/mo, ranking #38 out of 51 states for highest rent. This is $127 below the national median of $1,250/mo. Minnesota has a population of 5.7M. About 27.6% of households rent their homes. Fair Market Rent data covers 13 areas across the state.
Highlights
All 13 Areas in Minnesota
| Area | Studio | 1BR | 2BR | 3BR | Burden | YoY |
|---|---|---|---|---|---|---|
| Minneapolis-St. Paul-Bloomington Pop. 3.7M | $1,242 | $1,405 | $1,709 | $2,262 | 20.9% | +5.4% |
| Rochester Pop. 227K | $1,112 | $1,189 | $1,407 | $1,957 | 18.8% | +22.6% |
| Duluth Pop. 281K | $849 | $978 | $1,232 | $1,689 | 20.8% | +10.7% |
| St. Cloud Pop. 201K | $874 | $919 | $1,206 | $1,604 | 19.1% | +4.4% |
| Mankato Pop. 104K | $971 | $977 | $1,171 | $1,629 | 18.8% | - |
| La Crosse-Onalaska Pop. 170K | $804 | $889 | $1,166 | $1,515 | 19.7% | +3.9% |
| Mille Lacs County Pop. 27K | $850 | $856 | $1,123 | $1,346 | 18.9% | -0.7% |
| Fargo Pop. 255K | $768 | $917 | $1,112 | $1,547 | 17.7% | +17.8% |
| Grand Forks Pop. 104K | $863 | $868 | $1,089 | $1,515 | 19% | +17.2% |
| Le Sueur County Pop. 29K | $816 | $822 | $1,078 | $1,499 | 14.3% | -2.9% |
| Fillmore County Pop. 21K | $774 | $779 | $1,022 | $1,370 | 16.3% | +12.9% |
| Wabasha County Pop. 22K | $872 | $913 | $1,001 | $1,334 | 15% | +10.6% |
| Rock County Pop. 9.6K | $727 | $742 | $973 | $1,353 | 16.5% | - |
Frequently Asked Questions
The median 2-bedroom Fair Market Rent across Minnesota is $1,123 per month. Rents range from $973/mo in Rock County to $1,709/mo in Minneapolis-St. Paul-Bloomington. The actual median gross rent statewide is $1,235/mo according to Census data.
Minnesota ranks #38 out of 51 states for highest median Fair Market Rent. The state median 2BR FMR of $1,123/mo is $127 below the national median of $1,250/mo.
The average rent burden across Minnesota is 18.1%, meaning a typical household would spend 18.1% of income on a 2-bedroom at Fair Market Rent. No areas exceed HUD's 30% cost-burden threshold. The statewide median household income is $87,556.
The most affordable area in Minnesota is Rock County with a 2-bedroom Fair Market Rent of $973/mo. The median household income there is $70,698.
The most expensive area in Minnesota is Minneapolis-St. Paul-Bloomington with a 2-bedroom Fair Market Rent of $1,709/mo. The median household income there is $98,180.
Fair Market Rents represent the 40th percentile of gross rents for standard-quality rental units. State-level income and demographic data comes from the Census Bureau ACS 5-Year estimates. Rent burden is calculated as annual 2BR FMR divided by area median household income.