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 increased by 4% over the last month and have increased by 9% 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 $1,550, whereas a house costs $1,745. 1-bedroom apartments in Prospect Park run $1,450 on average, while 2-bedroom apartments are $2,139.


Studio	$1,275	1%	7%
1 bedroom	$1,450	No Change	10%
2 bedroom	$1,999	2%	13%
3 bedroom	$1,795	2%	28%
4 bedroom	$2,650	2%	4%

		Listings
Como	$2,000
Dinkytown	$1,665
Downtown East	$2,512
Marcy Holmes	$1,512
Phillips	$1,399
St Anthony	$1,430


Apartments	$1,550	3%	No Change
Condos	$1,347	22%	-
Houses	$1,745	37%	No Change
Rooms	$1,049	No Change	-

Studio

Average rent

$1,275

Last 30 days

Last year

1 bedroom

Average rent

$1,450

Last 30 days

No Change

Last year

10%

2 bedroom

Average rent

$1,999

Last 30 days

Last year

13%

3 bedroom

Average rent

$1,795

Last 30 days

Last year

28%

4 bedroom

Average rent

$2,650

Last 30 days

Last year

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$1,500

23%

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 25% lower than the median rent in Como, Minneapolis, MN.

Average rent in nearby neighborhoods

Explore rent trends in neighboring markets

$2,000

$1,665

$2,512

$1,512

$1,399

$1,430

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

$1,279–$1,649

Apartment for rent

Available Aug 22

Call

55 Williams Avenue Southeast - Photo 1 of 1

1d 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

4d ago

8.3

Very good

1319 Franklin Ave SE

1319 Franklin Ave Se, Minneapolis, MN 55414

3 beds

1 bath

$1,550

Apartment for rent

5d+ ago

Prospect Park house for rent in Minneapolis

644 Ontario St Se, Minneapolis, MN 55414

3 beds

1 bath

$1,650

House for rent

2835 - 2837 Williams Ave SE - Photo 1 of 1

5d+ ago

8.6

Very good

2835 - 2837 Williams Ave SE

2835 Williams Ave Se, Minneapolis, MN 55414

3 beds

1 bath

$1,720

Apartment for rent

3D tour

5d+ ago

8.9

Very good

Eagle Crossing

633 Ontario St Se, Minneapolis, MN 55414

3–4 beds

2 baths

$1,800–$2,400

Apartment for rent

3D tour

5d+ 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

5d+ ago

Very good

2622 Essex

2622 Essex St Se, Minneapolis, MN 55414

4 beds

2 baths

$2,395

Apartment for rent

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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 $1,500 per month as of June 6, 2026.

Is rent up or down in Prospect Park?

Average rent prices in Prospect Park have increased by 4% over the last month and have increased by 9% since last year.

How does Prospect Park rent compare to the national average?

Rent in Prospect Park is 23% below the national average, which means renters are paying approximately $450 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 $60,000/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).