Average Rent in Prior Lake, MN and Rent Price Trends

Rent trends in Prior Lake, MN

Average rent prices in Prior Lake have increased by 2% 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
Prior Lake, MN

Rent prices in Prior Lake vary by bedroom size, rental type, and neighborhood. The average rent for an apartment in Prior Lake is $1,572, whereas a house costs $2,795. 1-bedroom apartments in Prior Lake run $1,395 on average, while 2-bedroom apartments are $1,545.


Studio	$1,129	No Change	-
1 bedroom	$1,395	63%	5%
2 bedroom	$1,614	1%	5%
3 bedroom	$2,595	4%	14%
4 bedroom	$3,295	9%	-

				Listings
Apartments	$1,572	4%	No Change
Houses	$2,795	1%	No Change

Studio

Average rent

$1,129

1 bedroom

Average rent

$1,395

Last 30 days

63%

Last year

2 bedroom

Average rent

$1,614

Last 30 days

Last year

3 bedroom

Average rent

$2,595

Last 30 days

Last year

14%

4 bedroom

Average rent

$3,295

Last 30 days

The table above reflects average rent prices in Prior Lake, 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 Prior Lake, MN compare to other cities?

Compare median rent prices in Prior Lake and Chanhassen by all bedroom counts and property types.

Prior Lake

Median rent price$1,737

lower than the national median

Median rent price$1,857

lower than the national median

Takeaway

The median rent for all rentals in Prior Lake, MN is 6% lower than the median rent in Chanhassen, MN.

Average rent in nearby cities

Explore rent trends in neighboring markets

$1,857

$1,962

$1,297

$1,375

$1,845

$1,996

$2,074

$1,305

$2,300

$2,002

$1,600

$1,800

Discover rentals in Prior Lake, MN

The Village at Five Hawks - Photo 1 of 1

Highly rated

8h ago

8.3

Very good

The Village at Five Hawks

16615 Five Hawks Ave Se, Prior Lake, MN 55372

2–3 beds

1–2 baths

$1,495–$1,950

Apartment for rent

1d ago

8.4

Very good

Kestrel

16650 Brunswick Ave Se, Prior Lake, MN 55372

2–3 beds

1–2 baths

$1,495–$1,775

Apartment for rent

5d+ ago

Townhouse for rent in Prior Lake

14324 Parkside Ct Nw, Prior Lake, MN 55372

4 beds

3.5 baths

$2,795

House for rent

5d+ ago

Townhouse for rent in Prior Lake

14343 Brookmere Blvd Nw, Prior Lake, MN 55372

4 beds

4 baths

$2,850

House for rent

Stay up to date with rental market insights

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Annual Rent Report

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Frequently asked questions for Prior Lake, MN

Quick answers to common questions about the Prior Lake rental market.

How much is rent in Prior Lake?

The average rent in Prior Lake is $1,737 per month as of September 5, 2026.

Is rent up or down in Prior Lake?

Average rent prices in Prior Lake have increased by 2% over the last month and have increased by 9% since last year.

How does Prior Lake rent compare to the national average?

Rent in Prior Lake is 9% below the national average, which means renters are paying approximately $163 less per month.

What salary do I need to afford rent in Prior Lake?

To comfortably afford rent in Prior Lake, you'd need to earn approximately $69,000/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).