Minneapolis Rents Fall, While St Paul Rents Rise

According to Housinglink, November saw drops in median housing rent in Minneapolis, and increases in St Paul.

St Paul has rent control. Minneapolis does not.

Median one-bedroom rents in Minneapolis dropped 2%, from $1174 per month in November 2024 to $1150 this year.  Meanwhile, St Paul saw a year-over-year increase of 7%, seeing rents rise from $1098 in to $1175 this November.  The income tenants must earn  is $2875 a month in Minneapolis to qualify for this rental unit. St Paul tenants must earn a bit more at $2938 per month.

Two-bedroom units saw a similar trend. In Minneapolis, median rent dropped from $1532 in 2024 to $1500 in 2025; also a decline of 2%. Meanwhile, median rents in St Paul remained relatively flat, rising from $1516 to $1521 year over year. Minneapolis applicants should earn $3750 or more per month to qualify for a unit. St Paul residents need to do slightly better at $3803.

Both cities saw year-over-year increases in median rent for 3 bedroom units. Minneapolis jumped from $1895 per month to $1985; a spike of 4.7%. St Paul saw a 1% increase, with rent rising $29 per month to $1998. Minneapolis tenants must earn $4963 per month for this unit. St Paul residents need to earn $31 more per month, or $4994.

Housinglink also tracks vacancy rates in types of rental properties. For example, of all vacancies in Minneapolis, 73% were found in apartment buildings. This was a decline of 1% year-over-year. Condominiums, townhouses and duplexes saw a 2% year-over-year decline in vacancy percentage, dropping to 15%. Meanwhile, single-family homes rose to 12% of all current vacancies; 3% more than one year ago.

In St Paul, apartments vacancies rose 3% to 79% of all vacancies year-over-year. Meanwhile, single-family homes saw a 1% decrease to 6%. Duplexes, condominiums and townhouses also declined from 17% last November to 16% year-over-year.

Finally, the total number of available Airbnb units in Minneapolis dropped 6% year-over-year, landing at 1566. St Paul has just 450 units listed.

To read the complete Housinglink monthly report, for Minneapolis, click here. For St Paul, click here.