Last updated
Average Rent in Central Minneapolis & Rent Trends
Rent prices and market trends across 20 apartment communities in Central Minneapolis, Minneapolis MN. Updated daily.
Market Average
$3,127/mo
▲ +13.3% from last month
Lowest Available
$1,995/mo
cheapest unit on market
Communities
20
tracked daily
Units Listed
89
available now
Central Minneapolis vs Minneapolis MN Average
Central Minneapolis is more expensive the Minneapolis MN average by $959/mo (44%). The citywide average is $2,168/mo across all neighborhoods.
Is Rent Going Up or Down in Central Minneapolis?
As of May 2026, the average rent in Central Minneapolis is $3,127 per month across 20 apartment communities and 89 available units. Rents have increased $290 (13.3%) over the past month.
The most affordable option is FreightYard Townhomes and Flats starting at $1,995/mo. By unit type, a 2-bedroom averages $3,127/mo.
Prices range from $1,995 to $7,337 per month. The most common price point is the $2,400 range, where 19 units are currently listed.
Central Minneapolis Rent Price History
Rent Price Distribution
Rent by Bedroom Type in Central Minneapolis
Rent Prices by Apartment in Central Minneapolis
| Property | Starting at | Average | Units | Rating |
|---|---|---|---|---|
| FreightYard Townhomes and Flats | $1,995/mo | $2,065/mo | 2 | 3.9 |
| 724 Lofts | $2,039/mo | $2,202/mo | 3 | 4.7 |
| The Churchill Apartments | $2,180/mo | $2,362/mo | 6 | 3.5 |
| Mill City Apartments | $2,200/mo | $2,225/mo | 2 | 5 |
| NoLo Living - NoLo South | $2,282/mo | $2,445/mo | 8 | 4 |
| Borealis Apartments | $2,399/mo | $2,589/mo | 4 | 4.7 |
| Third North Apartments | $2,454/mo | $2,454/mo | 1 | 4.7 |
Google Search Trends for Central Minneapolis Apartments
Search interest for apartments in this area over the past 12 months.
Search Interest Over Time
Frequently Asked Questions About Rent in Central Minneapolis
What is the average rent in Central Minneapolis?
Is rent going up or down in Central Minneapolis?
What is the cheapest apartment in Central Minneapolis?
How many apartments are available in Central Minneapolis?
What salary do I need to live comfortably in Central Minneapolis?
Built on the 25 to 30 percent rent-to-income guideline used by most landlords and credit-scoring models.
Minimum to afford average rent
$125,000/year
30 percent rule -- using our average rent of $3,127/mo.
Comfortable income
$150,000/year
25 percent rule -- leaves more room for savings, transport, and groceries.
To afford the cheapest tracked apartment ($1,995/mo), you need to earn at least $80,000/year.
Median household income in Central Minneapolis is $80,269 , about 47% below the comfortable-living threshold.
Cost of living in Central Minneapolis
Overall prices in Central Minneapolis runs above the national average by about 4% (BEA Regional Price Parity index 104.3, where 100 equals the U.S. average). The breakdown below estimates monthly costs for a single adult, using national consumer-spending baselines from the Bureau of Labor Statistics scaled by Central Minneapolis's regional price parities.
| Category | Monthly estimate |
|---|---|
| Rent (market average) | $3,127 |
| Utilities | $474 |
| Groceries | $565 |
| Transportation | $1,131 |
| Healthcare | $552 |
| Other goods and services | $882 |
| Estimated total | $6,731/mo |
Population
426,845
Median household income
$80,269
Census median rent
$1,329/mo
Rent as % of income
28.7%
Median age
33.0
Mean commute
23 min
Methodology
Rent data
Sourced directly from each tracked apartment community and refreshed every 24 hours. Every listed unit price on this page is real and listed today.
Cost of living
Estimates combine national consumer-spending baselines from the U.S. Bureau of Labor Statistics (Consumer Expenditure Survey) with the U.S. Bureau of Economic Analysis Regional Price Parities (MARPP dataset). Both are peer-reviewed federal data releases published annually.
Salary to live comfortably
Applies the standard 25 to 30 percent rent-to-income rule on top of the listed rent. This is the same affordability guideline used by most landlords and credit-scoring models.
Demographic figures
Median household income, population, median age, commute time, Census median rent, and rent as percentage of income come from the U.S. Census Bureau's American Community Survey 5-year estimates, the most recent complete release.
Cost of living and demographic figures were last published in 2023.
Explore Central Minneapolis Apartments
Browse all 20 communities with daily-updated pricing and availability.