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 remained the same over the last month and have increased by 7% 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 $1,510, whereas a house costs $1,900. 1-bedroom apartments in Prospect Park run $1,450 on average, while 2-bedroom apartments are $1,735.


Studio	$1,275	4%	6%
1 bedroom	$1,449	2%	2%
2 bedroom	$1,667	5%	1%
3 bedroom	$1,795	6%	15%
4 bedroom	$2,395	No Change	1%

		Listings
Como	$1,775
Dinkytown	$1,619
Downtown East	$1,750
Marcy Holmes	$1,392
Phillips	$1,254
St Anthony	$1,499


Apartments	$1,510	1%	No Change
Condos	$1,825	No Change	-
Houses	$1,900	3%	No Change
Rooms	$1,074	No Change	-

Studio

Average rent

$1,275

Last 30 days

Last year

1 bedroom

Average rent

$1,449

Last 30 days

Last year

2 bedroom

Average rent

$1,667

Last 30 days

Last year

3 bedroom

Average rent

$1,795

Last 30 days

Last year

15%

4 bedroom

Average rent

$2,395

Last 30 days

No Change

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$1,450

24%

lower than the national median

Median rent price$1,775

lower than the national median

Takeaway

The median rent for all rentals in Prospect Park, Minneapolis, MN is 18% lower than the median rent in Como, Minneapolis, MN.

Average rent in nearby neighborhoods

Explore rent trends in neighboring markets

$1,775

$1,619

$1,750

$1,392

$1,254

$1,499

Discover rentals in Prospect Park, Minneapolis, MN

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

The Link Minneapolis Low-Rise - Photo 1 of 1

Student housing

3D tour

5d+ ago

9.3

Excellent

Verified

The Link Minneapolis Low-Rise

2900 4th St Se, Minneapolis, MN 55414

1 bed

1 bath

$1,629

Apartment for rent

Available Aug 22

Call

3D tour

5d+ ago

8.7

Very good

Eagle Crossing

633 Ontario St Se, Minneapolis, MN 55414

4 beds

2 baths

$2,300

Apartment for rent

2d ago

8.3

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

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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 $1,450 per month as of September 5, 2026.

Is rent up or down in Prospect Park?

Average rent prices in Prospect Park have remained the same over the last month and have increased by 7% since last year.

How does Prospect Park rent compare to the national average?

Rent in Prospect Park is 24% 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 $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).