Rent Tracker
Rent Inflation in Minneapolis, MN
The average asking rent in Minneapolis, MN is $1,719/month as of 2026-08. That is +3.5% compared to a year ago.
Source: Zillow Observed Rent Index (ZORI) | zillow.com/research
Current Avg Rent
$1,719/mo
as of 2026-08
Year-over-Year Change
+3.5%
24-Month Rent Trend
Monthly ZORI index values for Minneapolis, MN.
| Month | Avg Asking Rent | Change from Prior Month |
|---|---|---|
| 2026-08 | $1,719 | +0.12% |
| 2026-07 | $1,717 | +0.35% |
| 2026-06 | $1,711 | +0.47% |
| 2026-05 | $1,703 | +0.53% |
| 2026-04 | $1,694 | +0.65% |
| 2026-03 | $1,683 | +0.36% |
| 2026-02 | $1,677 | +0.66% |
| 2026-01 | $1,666 | +0.12% |
| 2025-12 | $1,664 | +0.30% |
| 2025-11 | $1,659 | -0.06% |
| 2025-10 | $1,660 | +0.00% |
| 2025-09 | $1,660 | -0.06% |
| 2025-08 | $1,661 | +0.12% |
| 2025-07 | $1,659 | +0.30% |
| 2025-06 | $1,654 | +0.55% |
| 2025-05 | $1,645 | +0.49% |
| 2025-04 | $1,637 | +0.68% |
| 2025-03 | $1,626 | +0.68% |
| 2025-02 | $1,615 | +0.81% |
| 2025-01 | $1,602 | +0.50% |
| 2024-12 | $1,594 | -0.06% |
| 2024-11 | $1,595 | -0.25% |
| 2024-10 | $1,599 | -0.19% |
| 2024-09 | $1,602 | — |
Why Rent Inflation Matters
Shelter is the single largest component of the official CPI, accounting for roughly one-third of the index. But the BLS shelter index tends to lag real-market rent changes by 12–18 months because it measures rents paid by all tenants — including long-term renters locked into old leases. ZORI measures asking rents for new leases, making it a timelier signal of where CPI shelter inflation is headed.
When ZORI is rising sharply in your city, it is a leading indicator that official shelter inflation — and therefore overall CPI — will remain elevated in coming months.
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Data Source
Rent data uses the Zillow Observed Rent Index (ZORI), a smoothed measure of typical market-rate asking rents updated monthly by Zillow Research. ZORI covers single-family homes, condos, and co-ops and reflects asking rents for new leases — making it a more timely indicator than the lagged BLS shelter index. zillow.com/research | Money & Prices