Average Rent in Prospect Park, Minneapolis, MN and Rent Price Trends

Rent trends in Prospect Park, Minneapolis, MN

Average rent prices in Prospect Park have decreased by 6% over the last month and have increased by 5% since last year.

Rent trends

Rent prices on this page are calculated on a rolling 30-day basis and updated daily.

Compare rent prices in
Prospect Park, Minneapolis, MN

Rent prices in Prospect Park vary by bedroom size, rental type, and neighborhood. The average rent for an apartment in Prospect Park is $1,460, whereas a house costs $2,150. 1-bedroom apartments in Prospect Park run $1,449 on average, while 2-bedroom apartments are $1,615.


Studio	$1,236	4%	10%
1 bedroom	$1,429	3%	2%
2 bedroom	$1,575	4%	6%
3 bedroom	$1,900	8%	28%
4 bedroom	$2,747	3%	18%

		Listings
Como	$2,000
Dinkytown	$1,670
Downtown East	$1,695
Marcy Holmes	$1,457
Phillips	$1,300
St Anthony	$1,499


Apartments	$1,460	2%	7%
Condos	$1,547	31%	-
Houses	$2,150	18%	No Change
Rooms	$1,074	No Change	-

Studio

Average rent

$1,236

Last 30 days

Last year

10%

1 bedroom

Average rent

$1,429

Last 30 days

Last year

2 bedroom

Average rent

$1,575

Last 30 days

Last year

3 bedroom

Average rent

$1,900

Last 30 days

Last year

28%

4 bedroom

Average rent

$2,747

Last 30 days

Last year

18%

The table above reflects average rent prices in Prospect Park, Minneapolis, MN, broken down by the number of bedrooms, neighborhoods, and property types. The availability of data for each category is dependent on market inventory and will adjust depending on your selected filters.

How does rent in Prospect Park, Minneapolis, MN compare to other neighborhoods?

Compare median rent prices in Prospect Park and Como by all bedroom counts and property types.

Prospect Park

Median rent price$1,450

25%

lower than the national median

Median rent price$2,000

higher than the national median

Takeaway

The median rent for all rentals in Prospect Park, Minneapolis, MN is 28% lower than the median rent in Como, Minneapolis, MN.

Average rent in nearby neighborhoods

Explore rent trends in neighboring markets

$2,000

$1,670

$1,695

$1,457

$1,300

$1,499

Discover rentals in Prospect Park, Minneapolis, MN

The Link Minneapolis Low-Rise - Photo 1 of 1

Student housing

3D tour

3d ago

9.3

Excellent

Verified

The Link Minneapolis Low-Rise

2900 4th St Se, Minneapolis, MN 55414

Studio–1 bed

1 bath

$1,324–$1,649

Apartment for rent

Available Aug 22

Call

55 Williams Avenue Southeast - Photo 1 of 1

5d+ ago

8.5

Very good

55 Williams Avenue Southeast

55 Williams Ave Se, Minneapolis, MN 55414

3 beds

1 bath

$1,515

Apartment for rent

3D tour

1d ago

8.4

Very good

2701 Delaware St SE

2701 Delaware St Se, Minneapolis, MN 55414

4 beds

2 baths

$1,800

Apartment for rent

3D tour

1d ago

8.6

Very good

Eagle Crossing

633 Ontario St Se, Minneapolis, MN 55414

3–4 beds

2 baths

$1,900–$2,300

Apartment for rent

3D tour

2d ago

Very good

2622 Essex

2622 Essex St Se, Minneapolis, MN 55414

4 beds

2 baths

$2,395

Apartment for rent

5d+ ago

8.6

Very good

133 27th Avenue SE

133 27th Ave Se, Minneapolis, MN 55414

5 beds

2 baths

$2,700

Apartment for rent

5d+ ago

Prospect Park apartment for rent in Minneapolis

648 Ontario St Se, Minneapolis, MN 55414

5 beds

1.5 baths

$2,900

Apartment for rent

5d+ ago

Prospect Park apartment for rent in Minneapolis

5 beds

2 baths

$3,100

Apartment for rent

Stay up to date with rental market insights

National Rent Report

Canadian Rent Report

Annual Rent Report

Are you interested in licensing our current and historical rental real estate data, or do you have custom data requests? Contact datalicensing@zumper.com.

Frequently asked questions for Prospect Park, Minneapolis, MN

Quick answers to common questions about the Prospect Park rental market.

How much is rent in Prospect Park?

The average rent in Prospect Park is $1,450 per month as of July 18, 2026.

Is rent up or down in Prospect Park?

Average rent prices in Prospect Park have decreased by 6% over the last month and have increased by 5% since last year.

How does Prospect Park rent compare to the national average?

Rent in Prospect Park is 25% below the national average, which means renters are paying approximately $495 less per month.

What salary do I need to afford rent in Prospect Park?

To comfortably afford rent in Prospect Park, you'd need to earn approximately $58,000/year, based on spending no more than 30% of your income on rent.

Methodology

Rent prices are based on Zumper's rental listings from the past 30 days. Median rent is calculated across all available listings and property types on the platform. If you filter the page by bedroom count or property type, the pricing throughout the page will update automatically to reflect that segment of the rental market.

Household and population data come from the U.S. Census Bureau. Cost-of-living data is sourced from the Council for Community and Economic Research's Cost of Living Index (COLI).