Rental Markets in Minnesota

DoorBase tracks rental market data across Minnesota by ZIP code. This state page is a crawlable index for investors comparing rents, cap-rate estimates, vacancy, demographics, home values, renter share, household income, and employment conditions before drilling into individual ZIP pages.

Minnesota Rental Market Overview

The current sample of indexable Minnesota ZIP markets shows average median rent of $1,672, average median home value of $370,277, average cap-rate high of 4.1%, average vacancy of 4.8%, renter ratio near 30.4%, and median household income around $94,791. These statewide figures are directional and should be used to compare markets before reviewing a specific ZIP code.

Minnesota is not one rental market. Large cities, inner suburbs, commuter towns, college markets, rural counties, resort areas, and industrial corridors can produce very different rent levels and ownership economics. DoorBase keeps the canonical content at the ZIP level so investors can move from a broad state view into the most precise local data available.

Featured Minnesota ZIP Markets

ZIP	City	Rent	Cap Rate	Vacancy	Population
55044	Lakeville	$2,124	2.2-3.8%	2.8%	63,280
55901	Rochester	$1,601	2.7-4.3%	5.6%	58,260
55106	St. Paul	$1,322	2.9-4.5%	4.2%	56,969
55124	Apple Valley	$1,956	2.9-4.5%	2%	55,675
55303	Anoka	$1,629	2.3-3.9%	3%	52,121
56001	Mankato	$1,198	2.1-3.7%	7.8%	50,960
55304	Andover	$2,847	3.7-5.3%	1.7%	49,452
55379	Shakopee	$1,774	2.4-4%	2.3%	49,084
55337	Burnsville	$1,496	2.2-3.8%	2%	48,104
55104	St. Paul	$1,476	2.7-4.3%	8.7%	45,777
55112	St Paul	$1,419	1.9-3.5%	3.5%	45,680
55330	Elk River	$2,139	2.9-4.5%	4%	45,080
55125	Saint Paul	$1,937	2.6-4.2%	1%	44,929
56560	Moorhead	$1,164	2.1-3.7%	4.7%	44,156
55117	St Paul	$1,308	2.4-4%	5.8%	44,095
55119	St Paul	$1,431	2.6-4.2%	3.9%	44,068
55113	Roseville	$1,472	2-3.6%	6.1%	40,786
55016	Cottage Grove	$1,888	2.6-4.2%	1.1%	39,925
55369	Maple Grove	$2,126	3.1-4.7%	3.9%	38,711
55311	Osseo	$2,358	2.6-4.2%	2.5%	37,873
55110	St Paul	$1,858	2.7-4.3%	4.1%	37,272
55407	Minneapolis	$1,481	2.6-4.2%	7.5%	36,992
55423	Richfield	$1,387	2.1-3.7%	3.2%	36,779
55024	Farmington	$1,928	2.7-4.3%	2.3%	36,681
55082	Stillwater	$2,365	2.4-4%	6.6%	36,414
55406	Minneapolis	$1,472	2.3-3.9%	4.5%	35,863
55416	Minneapolis	$1,895	2.5-4.1%	7.2%	34,905
56301	St. Cloud	$1,314	2.3-3.9%	6.8%	34,883
56601	Bemidji	$1,311	2.5-4.1%	12.6%	34,700
55372	Prior Lake	$2,018	2-3.6%	2.7%	34,617
55433	Coon Rapids	$1,603	2.8-4.4%	2%	34,423
55109	St Paul	$1,503	2.4-4%	4.6%	34,266
55987	Winona	$1,021	2-3.6%	6.2%	33,911
55414	Minneapolis	$1,513	2.4-4%	11.3%	33,739
55449	Minneapolis	$2,274	2.8-4.4%	3.9%	33,367
55443	Brooklyn Park	$1,662	2.3-3.9%	3.2%	33,318
55434	Blaine	$1,878	3.2-4.8%	2.7%	33,133
55432	Fridley	$1,448	2.4-4%	4.5%	32,935
55428	Crystal	$1,583	2.8-4.4%	4.5%	32,679
55408	Minneapolis	$1,518	3-4.6%	4%	32,534
55068	Rosemount	$2,100	2.9-4.5%	2.3%	32,194
55378	Savage	$1,989	2.5-4.1%	1.4%	32,072
55129	Woodbury	$2,391	2.4-4%	3.7%	32,016
56401	Brainerd	$982	1.4-3%	19%	31,749
55122	Eagan	$1,689	2.6-4.2%	3%	31,483
55418	Minneapolis	$1,741	2.8-4.4%	6.2%	31,295
55421	Columbia Heights	$1,568	3-4.6%	4.8%	31,051
55021	Faribault	$1,338	2.4-4%	8.6%	30,860
55347	Eden Prairie	$2,222	2-3.6%	2.2%	30,467
55318	Chaska	$1,958	2.1-3.7%	1.1%	29,884
55419	Minneapolis	$1,702	1.7-3.3%	3.8%	29,728
55411	Minneapolis	$1,828	4.6-6.2%	8.6%	29,719
55904	Rochester	$1,677	3.3-4.9%	5.9%	29,682
55060	Owatonna	$1,147	2-3.6%	4.8%	29,601
55912	Austin	$1,027	3-4.6%	8.6%	29,438
55118	St Paul	$1,475	2.1-3.7%	5%	29,396
55033	Hastings	$1,617	2.2-3.8%	2.6%	29,241
55014	Circle Pines	$1,690	2.4-4%	2.5%	28,975
55128	Oakdale	$1,871	3-4.6%	2%	28,945
55448	Minneapolis	$1,654	2.7-4.3%	0.9%	28,925

Notable ZIP Markets in This Sample

The highest estimated cap-rate band in this sample tops out at 6.3% in ZIP 55412 (Minneapolis).

The lowest vacancy in this sample is 0.6% in ZIP 55123 (Eagan).

The highest median rent in this sample is $2,847 in ZIP 55304 (Andover).

The highest median household income in this sample is $169,412 in ZIP 55446 (Plymouth).

Rental Markets by City

Minneapolis

Minneapolis has 13 ZIP codes in this sample. Median rents range from $1,443 to $2,274. Estimated cap-rate bands reach up to 6.3% at the high end. Vacancy averages 6.2%. See ZIP 55407 for the full market profile.

St Paul

St Paul has 7 ZIP codes in this sample. Median rents range from $1,308 to $1,858. Estimated cap-rate bands reach up to 4.3% at the high end. Vacancy averages 4.6%. See ZIP 55112 for the full market profile.

St. Paul

St. Paul has 3 ZIP codes in this sample. Median rents range from $1,322 to $1,568. Estimated cap-rate bands reach up to 4.5% at the high end. Vacancy averages 6.1%. See ZIP 55106 for the full market profile.

Rochester

Rochester has 3 ZIP codes in this sample. Median rents range from $1,601 to $1,720. Estimated cap-rate bands reach up to 4.9% at the high end. Vacancy averages 5.6%. See ZIP 55901 for the full market profile.

St. Cloud

St. Cloud has 2 ZIP codes in this sample. Median rents range from $1,017 to $1,314. Estimated cap-rate bands reach up to 3.9% at the high end. Vacancy averages 6.0%. See ZIP 56301 for the full market profile.

Eagan

Eagan has 2 ZIP codes in this sample. Median rents range from $1,689 to $1,772. Estimated cap-rate bands reach up to 4.2% at the high end. Vacancy averages 1.8%. See ZIP 55122 for the full market profile.

Lakeville

Lakeville has 1 ZIP code in this sample. Sample median rent is $2,124. Estimated cap-rate bands reach up to 3.8% at the high end. Vacancy averages 2.8%. See ZIP 55044 for the full market profile.

Apple Valley

Apple Valley has 1 ZIP code in this sample. Sample median rent is $1,956. Estimated cap-rate bands reach up to 4.5% at the high end. Vacancy averages 2.0%. See ZIP 55124 for the full market profile.

Anoka

Anoka has 1 ZIP code in this sample. Sample median rent is $1,629. Estimated cap-rate bands reach up to 3.9% at the high end. Vacancy averages 3.0%. See ZIP 55303 for the full market profile.

Mankato

Mankato has 1 ZIP code in this sample. Sample median rent is $1,198. Estimated cap-rate bands reach up to 3.7% at the high end. Vacancy averages 7.8%. See ZIP 56001 for the full market profile.

Andover

Andover has 1 ZIP code in this sample. Sample median rent is $2,847. Estimated cap-rate bands reach up to 5.3% at the high end. Vacancy averages 1.7%. See ZIP 55304 for the full market profile.

Shakopee

Shakopee has 1 ZIP code in this sample. Sample median rent is $1,774. Estimated cap-rate bands reach up to 4.0% at the high end. Vacancy averages 2.3%. See ZIP 55379 for the full market profile.

How to Use the Minnesota Directory

Start with the state page to understand the range of rental markets, then open individual ZIP pages for the numbers that matter most to underwriting. A state average can hide important local differences. One ZIP may have stronger rent growth and lower vacancy while a nearby ZIP has better purchase prices but weaker renter demand.

The most useful investor workflow is to compare rent, cap rate, vacancy, home value, renter ratio, household income, population growth, unemployment, and job growth together. No single number is enough. A high cap-rate estimate can be offset by weak income, high vacancy, or limited tenant demand. A lower cap-rate estimate can still make sense if the market has strong income, job growth, and durable renter demand.

State Coverage and Internal Links

This page links into the canonical ZIP URL structure, such as /rentals/mn/30318, without bringing back city parent pages. That structure keeps DoorBase clean for search engines: state pages organize the directory, ZIP pages hold the canonical data, and future market guides can exist separately as heavier editorial SEO hubs.

DoorBase currently tracks 80 sampled ZIP markets across 56 Minnesota cities in this crawlable state summary. The live React page may show a broader interactive directory after JavaScript loads, while this fallback body ensures crawlers receive meaningful text and links immediately.