Minnesota rent research report

Average rent in Minnesota:
improving absorption still needs a property-level test.

The median of 149 eligible Minnesota ZIP rent indices is $1,669 a month; their mean is $1,701. Twin Cities apartment absorption is ahead of deliveries, but Saint Paul’s rent rules and Rochester’s lease-up competition still require separate income assumptions.

By RentalCalcs editorial · Reviewed October 20, 2026
Included observations: September 2026 · All home types and sizes

Compare the city and county samples ↓
Minneapolis skyline and Loring Park viewed from the Walker Art Center roof
Minneapolis, August 11, 2018. Thomson200 / Wikimedia Commons, CC0. Resized WebP. Location context, not current rental inventory or a map of covered ZIPs.

What is the average rent in Minnesota?

The tracked ZIP-index mean is $1,701 and the median is $1,669, across 149 eligible ZIPs assigned to 28 source counties. The mean adds each ZIP value and divides by the ZIP count; the median is the middle value. Every covered ZIP gets equal weight. These are not household-weighted rents, a census of listings or an official statewide median.

The underlying Zillow Observed Rent Index (ZORI) describes asking rents across home types and sizes. Zillow applies weights within its index, as described in the source methodology. This page adds equal-ZIP aggregation; it does not reproduce Zillow’s own state series.

For a one-bedroom apartment, get one-bedroom evidence

These all-size values cannot answer a studio, shared-room, one-bedroom or three-bedroom-house question. Match the property type, size, condition, lease length and included services using current comparable homes. No compatible bedroom split, square-foot price or matched growth series is supplied here.

Investment research · reviewed October 20, 2026

Twin Cities absorption is ahead of deliveries; Saint Paul coverage and Rochester lease-ups still change the property case

The Twin Cities apartment balance has improved, but that does not supply one rent-growth assumption for every Minnesota building. The next question is whether the subject shares that segment, is covered by Saint Paul’s ordinance, or competes with new Rochester lease-ups.

Underwriting conclusion. Use the Twin Cities supply improvement to investigate stabilized income, then underwrite the actual legal and competitive position. In Rochester, separate occupied properties from projects still leasing. In Duluth, historical scarcity supports investigation rather than a license to ignore condition and operating costs.

Twin Cities: move-ins exceeded new supply by 1,132 apartmentsTrailing four quarters ending Q2 2026 · provider apartment market
5,372Net absorption: change in occupied apartments
− 4,240New apartments completed
= 1,132More occupied apartments than new deliveries; consistent with absorbing existing vacancy, not a forecast

Absorption ÷ completions = 1.27×. MMG reports 94.7% stabilized occupancy and 2.7% annual rent growth separately; those cohorts are not a vacancy identity. MMG Twin Cities Q2 report. Figures are historical quarterly evidence, not the live ZIP sample.

The interpretations and conditional actions below are RentalCalcs editorial analysis. Source observations keep their own periods. They do not establish a purchase recommendation, a property’s permitted rent or current leasing results.

Minneapolis–Saint Paul apartment market

Absorption ahead of deliveries supports stabilization, without guaranteeing a renovation premium

MMG’s Q2 2026 report lists 5,372 absorbed apartments versus 4,240 completions over four quarters, 94.7% stabilized occupancy and 2.7% annual rent growth. It reports positive absorption in 34 of 37 submarkets.

This is a stronger supply/demand balance than a delivery overhang, but it does not identify the rent of an older apartment after renovation. The income opportunity depends on whether current tenants and competitors support the proposed rent position.

Investment action. Favor documented occupancy and an expense budget that works without a large renovation premium. In Saint Paul, verify ordinance coverage, exemption status and the actual allowable process before projecting increases; the city’s ordinary rule is 3%, with exceptions. Do not automatically apply that rule to Minneapolis or all of Ramsey County.

What would change the conclusion. A new local delivery cluster or weaker renter demand could reverse the broad improvement. A documented exempt Saint Paul property can have a different legal path, but exemption does not guarantee market rent growth.

Records to obtain. Signed leases, current collections, competitive pipeline, certificate/coverage records, tax/insurance and owner-paid energy costs.

Apartment building at Selby and Grotto in Saint Paul

Saint Paul: the actual building and lease records determine ordinance coverage and collectible rent. This archival exterior does not establish exemption, current condition or available inventory.

October 29, 2006 · Michael Hicks · Original photograph · CC BY 2.0. Proportionally resized and converted to WebP; no scene changes. Archival location context.

Rochester / Olmsted County

Olmsted’s 2025 study reports 7.9% vacancy with lease-ups and 2.9% without them

The city-hosted 2025 Olmsted County study’s market-rate narrative (printed page 105) reports 7.9% vacancy including initial lease-ups and 2.9% excluding them. Those are different samples from the same historical survey. Other tables use different denominators; their unit counts and rates should not be combined to reconstruct this comparison.

The regional employment story is insufficient to choose a unit mix or assume immediate stabilization. A new apartment must acquire tenants; an established property must retain them. Those require different capital and leasing budgets even when the address is in the same market.

Investment action. For a new or heavily renovated property, obtain the competitive project schedule and monthly achieved leases, then fund an explicit absorption period. For an occupied building, verify renewal economics and repairs. Separate general-occupancy leases from furnished patient stays or short-term offers before comparing rents.

What would change the conclusion. Actual preleasing and a well-matched unit type can shorten the lease-up. A larger delivery cluster or unsupported furnished-rent assumption can lengthen it. The 2025 study is historical research, not a current forecast or an October vacancy observation.

Records to obtain. Current project roster, executed leases by unit type, lease-up cash schedule, required local rental approvals and operating budget.

Duluth

Historical scarcity supports a leasing case, but leaves the building-cost question unanswered

Duluth’s July 28, 2025 housing-study announcement reports 1.8% vacancy for surveyed market-rate properties. It is a historical survey result from a defined stock, not a 2026 vacancy estimate for every rental or a ZIP-index statistic.

Scarcity can support a demand investigation without telling an owner what it costs to maintain the property. A building requiring substantial near-term work can still produce weak cash income at a rent that appears strong relative to its purchase price.

Investment action. For an existing rental, verify current executed leases, inspection/licensing records, owner-paid heat, envelope and mechanical work before assigning value to rent growth. Keep a repair contingency and ask whether the unit can remain in service while work occurs. Use the historical vacancy only as context for that diligence.

What would change the conclusion. A current local survey or actual leasing performance can strengthen or weaken the scarcity thesis. Condition, utilities and a different rental segment may matter more than the citywide historical rate.

Records to obtain. Current comps and renewals, inspection, annual utility history, mechanical/roof bids and a downtime/capital plan.

Use the Minnesota market directory to find local purchase-market context, then obtain current comparable sales and subject expenses. This edition has no published Minnesota cap-rate report to supply a transaction benchmark.

Does a Minnesota unit retain a cash cushion when expenses outrun the rent?

Improving Twin Cities absorption and limits on some Saint Paul increases make expense resilience a useful second test. All defaults are assumed per-apartment annual inputs, not city observations. Start from the actual lawful rent and separately budget any initial Rochester lease-up or Duluth capital work.

Illustration · one apartment · first 12 months · USD. Editable assumptions, not observed market averages or an acquisition recommendation. All recurring amounts are allocated per apartment. No appreciation, sale proceeds or tax benefits are assumed.

Actual lawful face rent; no automatic ZIP-index adoption.
Economic rent loss over the year, before incentives.
First-year equivalent; not added again to vacancy.
Include taxes, insurance, management, repairs and owner-paid utilities.
Allocated principal and interest; excluded from NOI.
Cash set aside below NOI; initial work requires separate cash.

Annual cash after operating costs, debt and reserve contribution

$970

This is a positive illustration margin, before initial capital work, income tax and sale costs.

Follow the rent into owner cashDerived from your inputs · dollars per apartment per year
Scheduled rent
$18,600
− Vacancy / noncollection
-$930
− Occupied-share concession
-$0
= Effective rental income
$17,670
− Operating expenses
-$7,200
= NOI before debt / reserves
$10,470
− Debt service
-$8,500
− Reserve contribution
-$1,000
= Annual cash margin
$970

NOI excludes debt service and this worksheet’s reserve contribution. Initial renovation, acquisition costs and initial downtime are outside this annual operating illustration. Do not subtract the same vacancy, incentive or repair expense twice.

At what occupancy does the cost budget stop working?Annual cash margin; concession, rent, debt and reserves stay as entered

On a narrow screen, scroll the table sideways to compare all three expense budgets.

Collected occupancyEntered expensesExpenses +10%Expenses +20%
95%$970Cash remaining$250Cash remaining-$470Cash deficit
90%$40Cash remaining-$680Cash deficit-$1,400Cash deficit
85%-$890Cash deficit-$1,610Cash deficit-$2,330Cash deficit

Occupancy here is the collected share of scheduled rent before incentives, not a count of occupied doors. At the entered costs, break-even collected occupancy is 89.8%. Debt-service coverage is 1.23× NOI / debt service; it excludes reserve contributions.

The relevant choice is whether verified income can carry the property through a cost increase or slower leasing. If it cannot, change the basis, financing or scope before relying on rent growth. This budget does not decide ordinance coverage, calculate a permitted increase or fund major initial repairs.

Use the full property cash-flow calculator for the purchase price, financing terms and holding period. Review its expense and reserve conventions before transferring assumptions; this illustration does not automatically populate a deal.

Minneapolis and Saint Paul postal groups within their counties

The county table pools more places than a city-name search. Separate the source’s Minneapolis-labeled ZIPs from other named places in Hennepin, and Saint Paul-labeled ZIPs from other named places in Ramsey. This changes the comparison before you make any adjustment for utilities or fees.

Data behind the two-county postal-label comparison
Postal-label sampleCountyZIP median / monthZIP mean / monthZIPs
Minneapolis postal labelsHennepin$1,742$1,73420
Other named places in HennepinHennepin$1,836$1,95534
Saint Paul postal labelsRamsey$1,552$1,50011
Other named places in RamseyRamsey$1,530$1,6388

Use the Minneapolis rent lookup or Saint Paul rent lookup for those postal groups. The gap between these samples does not measure what the same home would cost across a boundary; property mix and sparse ZIP coverage also differ.

Twin Cities, Rochester and Duluth county-set ZIP medians

The Metropolitan Council’s seven-county planning region contains Anoka, Carver, Dakota, Hennepin, Ramsey, Scott and Washington. Those counties contribute 110 of 149 newest-month ZIPs (73.8%). This is not the larger Minneapolis–Saint Paul interstate metro area, and the table does not turn the rest of Minnesota into one uniform market.

September 2026 · equal ZIP weights · first four rows are a selected preview, not a ranking. Scroll sideways for all columns.

Minnesota county comparison sets, equal ZIP weights, September 2026
Comparison and source countiesZIP median / monthZIP mean / monthZIPs
Hennepin CountyHennepin$1,786$1,87354
Ramsey CountyRamsey$1,547$1,55819
Five other Twin Cities planning countiesAnoka, Carver, Dakota, Scott, Washington$1,858$1,89437
Rochester comparison · Olmsted CountyOlmsted$1,601$1,6034
View four more county comparisons
Minnesota county comparison sets, equal ZIP weights, September 2026
Comparison and source countiesZIP median / monthZIP mean / monthZIPs
Duluth comparison · Saint Louis CountySaint Louis$1,336$1,3597
Saint Cloud comparison · three countiesStearns, Benton, Sherburne$1,319$1,3707
Mankato comparison · two countiesBlue Earth, Nicollet$1,205$1,2052
Moorhead comparison · Clay County onlyClay$1,093$1,0931

Saint Louis County includes places beyond Duluth; Wisconsin is excluded. The Saint Cloud comparison pools three whole counties, including places well beyond the city. Clay County is only the Minnesota side of the Fargo–Moorhead area; North Dakota is excluded. These selected county sets are neither official metro definitions nor a complete regional partition.

Rochester and Duluth: sparse postal-label coverage

The Clay County comparison currently has 1 ZIP observation. Keep the sample count with the rent. A missing or small sample is a reason to collect current matched quotes, not evidence of zero rent or low tenant demand.

Each pooled median is calculated from individual ZIP indices, never by averaging county medians. The postal-label and regional tables rows use only the newest common month. 0 included observations fall outside that month; 0 newest-month observations have unspecified counties.

Find a Minnesota postal-city group

City links retain the source’s postal-name task. The city-page gate requires at least three eligible ZIPs; a smaller place can still have an observation in the ZIP table. Counts show coverage, not popularity or the number of homes for rent. Filter for Minneapolis, Saint Paul, Bloomington, Duluth, Rochester or Saint Cloud.

10 matching cities. Preview ordered by tracked ZIP count, then name; not by affordability. Scroll the table sideways for all columns.

Minnesota postal-city groups, included observations, equal ZIP weighting
Postal cityZIP median / monthZIP mean / monthZIPsObservation months
Minneapolis$1,742$1,73420September 2026
Saint Paul$1,552$1,50011September 2026
Bloomington$1,689$1,6725September 2026
Duluth$1,336$1,2925September 2026
Plymouth$1,968$1,9634September 2026
Rochester$1,601$1,6034September 2026
Eagan$1,694$1,6543September 2026
Eden Prairie$2,183$2,0963September 2026
View remaining 2 cities
Minnesota postal-city groups, included observations, equal ZIP weighting
Postal cityZIP median / monthZIP mean / monthZIPsObservation months
Edina$1,963$2,2513September 2026
Saint Cloud$1,176$1,1483September 2026

Search the actual ZIP and check its date

A five-digit ZIP is a more precise lookup key than a regional label, though it still does not identify a comparable home. Filter by ZIP or postal city and county; clear the filters to return to all eligible Minnesota observations.

Newest included observation: September 2026. Historical retained ZIPs are excluded from current estimates after a validated refresh.

149 matching ZIPs, ordered by ZIP. Preview shows up to six. Scroll the table sideways for all columns.

Minnesota ZIP benchmarks with source geography and individual dates
ZIPPostal cityCountyMonthly indexObservation
55014Circle PinesAnoka County$1,960September 2026
55016Cottage GroveWashington County$1,827September 2026
55021FaribaultRice County$1,360September 2026
55024FarmingtonDakota County$2,089September 2026
55025Forest LakeWashington County$1,573September 2026
55033HastingsDakota County$1,630September 2026
View remaining 143 ZIP benchmarks
Minnesota ZIP benchmarks with source geography and individual dates
ZIPPostal cityCountyMonthly indexObservation
55038HugoWashington County$2,456September 2026
55042Lake ElmoWashington County$2,758September 2026
55044LakevilleDakota County$2,108September 2026
55045LindstromChisago County$1,400September 2026
55057NorthfieldRice County$1,756September 2026
55060OwatonnaSteele County$1,081September 2026
55066Red WingGoodhue County$1,443September 2026
55068RosemountDakota County$2,027September 2026
55075South Saint PaulDakota County$1,534September 2026
55077Inver Grove HeightsDakota County$1,842September 2026
55082StillwaterWashington County$2,216September 2026
55101Saint PaulRamsey County$1,527September 2026
55102Saint PaulRamsey County$1,599September 2026
55103Saint PaulRamsey County$1,417September 2026
55104Saint PaulRamsey County$1,745September 2026
55105Saint PaulRamsey County$1,554September 2026
55106Saint PaulRamsey County$1,326September 2026
55107Saint PaulRamsey County$1,559September 2026
55108Falcon HeightsRamsey County$1,512September 2026
55109MaplewoodRamsey County$1,498September 2026
55110White Bear LakeRamsey County$1,880September 2026
55111MinneapolisHennepin County$1,669September 2026
55112New BrightonRamsey County$1,430September 2026
55113RosevilleRamsey County$1,547September 2026
55114Saint PaulRamsey County$1,552September 2026
55116Saint PaulRamsey County$1,602September 2026
55117Saint PaulRamsey County$1,398September 2026
55118West Saint PaulDakota County$1,477September 2026
55119MaplewoodRamsey County$1,438September 2026
55121EaganDakota County$1,496September 2026
55122EaganDakota County$1,694September 2026
55123EaganDakota County$1,771September 2026
55124Apple ValleyDakota County$1,985September 2026
55125WoodburyWashington County$1,982September 2026
55126ShoreviewRamsey County$1,912September 2026
55127Vadnais HeightsRamsey County$1,883September 2026
55128OakdaleWashington County$1,858September 2026
55129WoodburyWashington County$2,370September 2026
55130Saint PaulRamsey County$1,225September 2026
55303RamseyAnoka County$1,632September 2026
55304AndoverAnoka County$2,477September 2026
55305MinnetonkaHennepin County$1,922September 2026
55306BurnsvilleDakota County$1,420September 2026
55309Big LakeSherburne County$1,547September 2026
55311Maple GroveHennepin County$2,374September 2026
55313BuffaloWright County$1,663September 2026
55316ChamplinHennepin County$1,865September 2026
55317ChanhassenCarver County$2,201September 2026
55318ChaskaCarver County$1,848September 2026
55330Elk RiverSherburne County$1,995September 2026
55331ShorewoodHennepin County$2,451September 2026
55337BurnsvilleDakota County$1,505September 2026
55343HopkinsHennepin County$1,647September 2026
55344Eden PrairieHennepin County$1,767September 2026
55345MinnetonkaHennepin County$1,627September 2026
55346Eden PrairieHennepin County$2,338September 2026
55347Eden PrairieHennepin County$2,183September 2026
55362MonticelloWright County$1,700September 2026
55364MoundHennepin County$2,464September 2026
55369Maple GroveHennepin County$2,063September 2026
55372Prior LakeScott County$2,059September 2026
55373RockfordWright County$1,275September 2026
55374RogersHennepin County$2,173September 2026
55376Saint MichaelWright County$1,915September 2026
55378SavageScott County$1,934September 2026
55379ShakopeeScott County$1,763September 2026
55386VictoriaCarver County$2,184September 2026
55387WaconiaCarver County$1,860September 2026
55391WoodlandHennepin County$3,392September 2026
55401MinneapolisHennepin County$2,034September 2026
55402MinneapolisHennepin County$1,735September 2026
55403MinneapolisHennepin County$1,420September 2026
55404MinneapolisHennepin County$1,461September 2026
55405MinneapolisHennepin County$1,357September 2026
55406MinneapolisHennepin County$1,407September 2026
55407MinneapolisHennepin County$1,551September 2026
55408MinneapolisHennepin County$1,488September 2026
55409MinneapolisHennepin County$1,487September 2026
55410MinneapolisHennepin County$2,352September 2026
55411MinneapolisHennepin County$1,749September 2026
55412MinneapolisHennepin County$1,730September 2026
55413MinneapolisHennepin County$1,783September 2026
55414MinneapolisHennepin County$2,160September 2026
55415MinneapolisHennepin County$2,091September 2026
55416Saint Louis ParkHennepin County$1,873September 2026
55417MinneapolisHennepin County$1,826September 2026
55418MinneapolisHennepin County$1,760September 2026
55419MinneapolisHennepin County$1,789September 2026
55420BloomingtonHennepin County$1,450September 2026
55421Columbia HeightsAnoka County$1,601September 2026
55422Golden ValleyHennepin County$1,606September 2026
55423RichfieldHennepin County$1,396September 2026
55424EdinaHennepin County$2,985September 2026
55425BloomingtonHennepin County$1,669September 2026
55426Saint Louis ParkHennepin County$1,758September 2026
55427New HopeHennepin County$1,788September 2026
55428New HopeHennepin County$1,585September 2026
55430Brooklyn CenterHennepin County$1,455September 2026
55431BloomingtonHennepin County$1,805September 2026
55432FridleyAnoka County$1,412September 2026
55433Coon RapidsAnoka County$1,656September 2026
55434BlaineAnoka County$1,967September 2026
55435EdinaHennepin County$1,963September 2026
55436EdinaHennepin County$1,806September 2026
55437BloomingtonHennepin County$1,689September 2026
55438BloomingtonHennepin County$1,749September 2026
55441PlymouthHennepin County$1,701September 2026
55442PlymouthHennepin County$2,020September 2026
55443Brooklyn ParkHennepin County$1,771September 2026
55445Brooklyn ParkHennepin County$1,993September 2026
55446PlymouthHennepin County$2,214September 2026
55447PlymouthHennepin County$1,916September 2026
55448Coon RapidsAnoka County$1,734September 2026
55449BlaineAnoka County$2,170September 2026
55454MinneapolisHennepin County$1,823September 2026
55792VirginiaSaint Louis County$979September 2026
55802DuluthSaint Louis County$1,407September 2026
55805DuluthSaint Louis County$1,346September 2026
55806DuluthSaint Louis County$1,171September 2026
55808DuluthSaint Louis County$1,200September 2026
55811HermantownSaint Louis County$2,073September 2026
55812DuluthSaint Louis County$1,336September 2026
55901RochesterOlmsted County$1,554September 2026
55902RochesterOlmsted County$1,668September 2026
55904RochesterOlmsted County$1,647September 2026
55906RochesterOlmsted County$1,542September 2026
55912AustinMower County$1,161September 2026
55987WinonaWinona County$1,065September 2026
56001MankatoBlue Earth County$1,259September 2026
56003North MankatoNicollet County$1,150September 2026
56007Albert LeaFreeborn County$1,043September 2026
56143JacksonJackson County$1,263September 2026
56201WillmarKandiyohi County$912September 2026
56301Saint CloudStearns County$1,319September 2026
56303Saint CloudStearns County$949September 2026
56304Saint CloudSherburne County$1,176September 2026
56308AlexandriaDouglas County$1,467September 2026
56377SartellStearns County$1,460September 2026
56387Waite ParkStearns County$1,143September 2026
56401BrainerdCrow Wing County$1,013September 2026
56537Fergus FallsOtter Tail County$909September 2026
56560MoorheadClay County$1,093September 2026
56601BemidjiBeltrami County$1,144September 2026

For bedroom-specific federal gross-rent references, use the HUD rent lookup. HUD figures include utility assumptions and are not a bedroom split of ZORI, a local payment standard or an approved rent for this property.

A lower base rent can still produce a higher budget

Minnesota’s published fee-disclosure statute, section 504B.120, requires rent and nonoptional fees to be presented as the “Total Monthly Payment” on the first lease page, with nonoptional fees disclosed in advertising. It also requires disclosure of whether utilities are included. The Attorney General’s lease handbook explains utility responsibility and refundable security deposits. Check those written terms before treating two prices as comparable.

The disclosed rent-and-fee payment is one step in your budget. A utility billed separately or a service you choose can still change your cash requirement. The worksheet does not decide whether a charge is legally optional, permitted or properly disclosed.

Follow a quote from base rent to cash needed

Illustrative monthly costs; no local offer or typical fee is implied. Both examples cover a 12-month lease.

Home A

  1. Base rent $1,500
    + nonoptional fixed fees $140
  2. Rent-and-fee payment $1,640
    + outside monthly costs $110
  3. Complete monthly budget $1,750
    × 12 = $21,000 term cost
  4. Refundable deposit $1,500
    First full month + deposit = $3,250

Home B

  1. Base rent $1,650
    + nonoptional fixed fees $0
  2. Rent-and-fee payment $1,650
    + outside monthly costs $60
  3. Complete monthly budget $1,710
    × 12 = $20,520 term cost
  4. Refundable deposit $800
    First full month + deposit = $2,510

Home A’s base rent is $150 lower, yet its entered monthly budget is $40 higher and the 12-month cost is $480 higher. Home B also needs $740 less initial cash. The deposit is separate cash held; its difference is not an extra rent saving.

Holding the other example inputs fixed, Home A’s fixed-fee total reaches the same monthly budget as B at $100. Below that it is cheaper each month; above that it is more expensive. One-time nonrefundable costs can still change which lease costs less over the chosen term.

Reconcile two written quotes

Hypothetical prices, not local offers. Use the same lease length and services for both homes. Enter each charge once. Inputs stay in this page and are not saved.

Home A
Home B

Outside costs are utilities and any selected optional services excluded from rent and fixed fees. Do not enter an included utility twice. The deposit is counted as cash held, never assumed spent. One-time costs exclude refundable deposits.

Scroll the comparison sideways for both homes on a narrow screen.

Two-home quote comparison over 12 months
MeasureHome AHome B
Rent + nonoptional fixed fees$1,640$1,650
Complete entered monthly budget$1,750$1,710
Term cost, excluding refundable deposit$21,000$20,520
First full month + deposit + one-time costs$3,250$2,510

Home B costs $480 less over 12 months.

Home B requires $740 less initial cash under this first-full-month assumption. A lower deposit can improve cash availability without reducing the modeled rent expense.

Term cost = (rent + fixed fees + outside monthly costs) × months + one-time costs. Initial cash assumes one full month, the full deposit and entered one-time costs are due together; actual due dates, proration and installments can differ. This is a budget, not a legal compliance test. Deposit refunds, interest, damage deductions, borrowing costs and future price changes are not modeled.

For a household purchase decision, continue to the rent-versus-buy calculator using complete recurring costs. An owner evaluating rent income can use the rental-property cash-flow calculator; the ZIP index still needs matched unit evidence. Neither tool treats this disclosure worksheet as a legal rent limit.

Metro rent research

Read local rent trends, property strategies and acquisition downside analysis for each metro. Markets that span several states have one report.

Read-only freshness audit, October 20, 2026: the shared database’s 149 eligible state ZIPs matched the upstream September 2026 observation month. No upstream ZIP was missing from storage and no matched stored observation lagged the source. Storage also held 30 older June–August observations outside the current sample; 30 stored ZIPs were absent from the downloaded file. These are dated audit counts, not a promise of future coverage. The lookup’s displayed dates and counts follow the shared validated refresh. Quarterly apartment research elsewhere on this page uses its own named sources, periods and cohorts.

Source months, retained ZIPs and what remains unknown

Current eligible observations cover these months:

  • September 2026: 149 ZIPs.

0 included observations have unknown dates. Tables follow the shared monthly publication. Older retained rows remain separate from current estimates; ZIP comparison tables use the newest common month. Automated observation updates do not change the editorial review date.

ZIPs differ in population and rental stock. Source postal names and county assignments do not establish municipal boundaries, unit comparability, inventory, tenant demand or allowable lease increases. Positive extreme values are retained. Coverage gaps are not estimates of zero. All-size ZIP indices cannot supply compatible bedroom rents, square-foot prices or historical growth here.

Data: Zillow research downloads and ZORI methodology. Geography and lease-disclosure sources appear beside their claims. The city/county graphic uses shared data; the quote bridge and worksheet use hypothetical assumptions. The published statutory page is the 2025 edition, checked October 19, 2026; the worksheet does not verify an individual lease’s legal treatment.

Content and usability reviewed : Minnesota market theses, primary-source research, investor income stress, body photography and retained city/ZIP lookup. About RentalCalcs · Report a data issue.