It’s not just Minnesotans who are feeling the pain of rising housing costs. It’s an issue hitting renters across the country, with rental costs soaring since 2020 due to rising interest rates, increased housing demand, and limited supply.
Minnesotans are lucky, though. Not only do they get to live in the Land of 10,000 Lakes and an abundance of natural beauty, but they get to do it for relatively cheap, at least compared to the rest of the country. Although Minnesota has some of the highest rent in the Midwest, it’s pretty affordable compared to the country as a whole, and there are plenty of rental options for under $1,200.
There is also a lot of variety in where Minnesotans can live. Whether they want the big city allure of Minneapolis, the ever-so-slightly smaller city charm of next-door Saint Paul, or the natural wonder of places like Duluth, there are a lot of options in studios, one-bedroom and two-bedroom apartments, and in some places, houses, for under $1,200 in monthly rent.
What’s the average rent in Minnesota?
On average, Minnesotans spend between $1,500 and $1,700 on rent each month, depending on the source. According to Zillow, the average rent in Minnesota is $1,550 per month, with the average price of a studio, one-bedroom, and two-bedroom apartment typically lower than that, and the average price of a three-bedroom apartment is around $2,195.
The average price of rent in the United States is $1,750 per month, according to Rent Cafe, and Minnesotans pay an average of $1,659 per month.
How much has rent changed in Minnesota in the past year?
When it comes to the cost of living, rent in Minnesota is just like nearly everything else in the past year—increasing. According to Zillow, though, the increase isn’t drastic. Instead, the average rent has increased by $18 over the past year.
Where are the most expensive cities to rent in Minnesota?
Renters can typically find affordable places to live in the Twin Cities—Minneapolis and Saint Paul—but living just outside of the cities, in their surrounding suburbs, can hit renters’ wallets the hardest.
According to Apartments.com, many of the most expensive cities for renters in Minnesota are Twin Cities suburbs, such as Woodbury, which is eight miles east of Saint Paul and has an average rent of $1,716 per month. Other pricey cities for renters include Maple Grove, which has an average rent of $1,698 per month, Minnetonka, where renters pay an average of $1,675 per month, and Edina, where the average rent is $1,620 per month.
Where are the most affordable cities to rent in Minnesota?
Many of Minnesota’s most expensive cities for renters are all concentrated in the Twin Cities metropolitan area, but according to Apartments.com, the two cities are some of the most affordable places to rent in the state, with average rents costing about $1,285 per month in Saint Paul and $1,410 per month in Minneapolis. The most affordable city in the state for renters, though, is Saint Cloud, a city in central Minnesota that sits along the Mississippi River. In Saint Cloud, rent averages $916 per month.
How does Minnesota compare to other states in rent prices?
It’s a well-known fact that compared to coastal states like New York, Massachusetts, or California, the Midwest has a fairly modest cost of living, and that includes Minnesota. The average price of rent in the country is $1,750 per month, according to Rent Cafe, with Minnesotans paying an average of $1,659. Massachusetts has some of the most expensive rent in the country, with renters paying more than $2,853 per month on average. Oklahoma residents pay the least in rent, averaging $1,070 per month.
While Minnesota’s rent prices are lower than the national average, it is far from the most affordable Midwestern state. The most expensive Midwestern state to rent in is Illinois, averaging $2,050 per month, and Minnesotans pay the second-highest rent in the region.
What impacts rent prices in Minnesota?
In line with housing markets throughout the country, one of the main factors that impacts rent prices in Minnesota is a shortage of housing supply. To help cultivate a stable housing market in the state, Minnesota needs to build 182,000 new housing units by 2035, according to the Minnesota Housing Finance Agency.
Minneapolis
Minneapolis is the largest and most populous city in Minnesota, and it also happens to be one of the most affordable cities to rent in, according to Apartments.com. With an average monthly rent of $1,410 per month, Minneapolis has tons of available options for renters, including units that cost $1,200 or less per month. Currently, the state has more than 1,000 available units for under $1,200 on Zillow, a vast majority of them being apartments—only four houses are available to rent in Minneapolis that fall within the price range.
Out of the apartment listings, most are for studios or one-bedroom apartments, with just 41 units having two bedrooms or more. Minneapolis is divided by the Mississippi River, which runs through the city, and while there are rental units for under $1,200 throughout the city, most are located west of the river.
If you’re renting in Minneapolis for under $1,200, you can typically expect to come across:
- A studio or one-bedroom apartment
- Located west of the Mississippi River
- Hardwood flooring
Saint Paul
Saint Paul and neighboring Minneapolis are known as the Twin Cities because the two major cities are located directly next to each other. Although there are many similarities between the two, there is at least one major difference: rent prices.
While there is only a slight difference between the two cities when it comes to the cost of purchasing a home, renting is a different story. On average, Minneapolis apartment rentals are 9% more expensive than in Saint Paul, where the monthly average is $1,295 per month, according to Apartments.com, and houses are 32% less expensive to rent on average in Saint Paul than in Minneapolis.
Of the more than 2,384 rental units currently available on Zillow, 611 are available for $1,200 or less. Primarily, these are studio, one-bedroom, and two-bedroom units, with 38 of the available listings offering three or more bedrooms. Rental units for $1,200 or less can be found in neighborhoods all throughout the city.
If you’re renting in Saint Paul for under $1,200, you can typically expect to come across:
- Studio, one-bedroom, and two-bedroom apartments
- Located in new buildings
- In-building and sometimes in-unit parking
Duluth
Sitting on the shores of Lake Superior, Duluth, Minnesota’s fifth-largest city, offers residents opportunities to explore northern Minnesota’s unmatched natural beauty. Duluth is the largest city in Minnesota’s Arrowhead Region, the pointed portion of northeastern Minnesota that is known for its forests, lakes, and some of the state’s highest peaks, including the Sawtooth Mountains.
There are 70 rentals available in Duluth for under $1,200 on Zillow, and they’re all relatively different from one another, making it an ideal city to rent in for people who want to compare different options. There are studios with modern appliances in newer buildings, lofts that offer a harbor view, lower-level units in houses, and downtown units in restored, older buildings.
If you’re renting in Duluth for under $1,200, you can typically expect to come across:
- A variety of housing options
- Rents around $900-$1,100
- Parking included
St. Cloud
The state’s 12th-most populous city, St. Cloud, located in central Minnesota, has something that all renters clamor for: affordable rent. According to Apartments.com, St. Cloud has the most affordable rent in the state, averaging $916 per month, while the statewide average is $1,659, according to Rent Cafe. Many apartments in the city can be found for even less than that, too.
At the time of writing, there are 179 rental units in St. Cloud listed on Zillow for under $1,200 per month, including a two-bedroom house, although a majority of the available units are apartments. St. Cloud is home to St. Cloud State University, the third-largest public university in the state, so a lot of rental units are targeted to students, with some offering specific discounts or amenities for students, like study rooms located in apartment buildings or grocery gift cards for student renters.
If you’re renting in St. Cloud for under $1,200, you can typically expect to come across:
- Rents for $900 or less
- Apartments that are looking to rent to students
- Studios, one-bedroom, two-bedroom, and three-bedroom apartments
Rochester
It’s common for rents to continuously go up, and it’s far more rare to see rents decrease, but Rochester is proving that it’s not impossible. The southeastern Minnesota city has seen rents go down $50 on average in the past year, according to Zillow, with an average rent of $1,550. Rochester is the third-most populous city in the state, behind the Twin Cities, and of the 372 available rentals on Zillow, 191 are available for $1,200 or under.
A majority of the city’s available rentals are studios, one-bedroom, or two-bedroom apartments, although there is one house and some townhouses available for renters within the price range. While some apartments can be found for under $1,000, one- and two-bedroom units in newer buildings with modern appliances typically cost around $1,100 in Rochester.
If you’re renting in Rochester for under $1,200, you can typically expect to come across:
- Rents between $900 and $1,100
- Studio, one-bedroom, and two-bedroom apartments
- Located near Rochester’s downtown
This article first appeared on Good Info News Wire and is republished here under a Creative Commons license.
