Apartments for Rent in Phillips, Minneapolis, MN

Phillips, Minneapolis apartment availability

Phillips offers a good selection of rental listings, with an average of 42 rentals available each month. The neighborhood's rental market primarily features 1-bedroom, 2-bedroom, and 3-bedroom apartments, as well as some studios. Many of these apartments cater to pet owners, with around 70% allowing pets with some restrictions. This makes Phillips a great option for renters with furry friends. With a range of apartment sizes and pet-friendly amenities, Phillips is worth considering for those looking for a new place to call home in Minneapolis.

Phillips, Minneapolis rental market trends

Phillips, Minneapolis, is experiencing a steady increase in rent prices, with the average monthly rent across all property types rising 6.3% year-over-year to $1,333 in 2024. The most notable increases are seen in 3-bedrooms, with an 8.9% jump to $1,838, and 1-bedrooms, with a 7.1% increase to $1,095. Studios, on the other hand, have seen a more modest 1.9% increase to $920.

The rental market in Phillips is most competitive in October, with rent prices peaking at 23.4% higher than the lowest month, May. This significant difference in rent prices between the most and least competitive months presents an opportunity for renters to find deals during the off-season. Those looking for a more affordable option should consider searching in May, when rent prices are at their lowest. Conversely, October's peak prices may be a challenge for budget-conscious renters.

Why Phillips, Minneapolis is a great place to live

Phillips is a top choice for Minneapolis renters prioritizing environmental sustainability and social living. The neighborhood's focus on eco-friendliness is reflected in its use of non-toxic paint, waste recycling, and rainwater harvesting in apartments for rent. Additionally, community solar projects and sustainable materials used in construction contribute to its high environmental sustainability score. Phillips also excels in social life, thanks to its restaurant scene, well-maintained street infrastructure, safety, and convenient transit options. With a high walk score, residents can easily get around and meet up with friends, making it an ideal spot for those who value community and connection.