Average Rent in Prior Lake, MN and Rent Price Trends

Rent trends in Prior Lake, MN

Average rent prices in Prior Lake have remained the same over the last month and have decreased by 12% 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 $1,520, whereas a house costs $2,700. 1-bedroom apartments in Prior Lake run $1,408 on average, while 2-bedroom apartments are $1,599.


Studio	$1,325	No Change	6%
1 bedroom	$1,388	3%	7%
2 bedroom	$1,629	2%	7%
3 bedroom	$2,700	9%	1%
4 bedroom	$3,250	17%	31%


Apartments	$1,520	1%	No Change
Condos	$1,695	No Change	-
Houses	$2,700	2%	No Change

Studio

Average rent

$1,325

Last year

1 bedroom

Average rent

$1,388

Last 30 days

Last year

2 bedroom

Average rent

$1,629

Last 30 days

Last year

3 bedroom

Average rent

$2,700

Last 30 days

Last year

4 bedroom

Average rent

$3,250

Last 30 days

17%

Last year

31%

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$1,677

13%

lower than the national median

Median rent price$1,995

higher than the national median

Takeaway

The median rent for all rentals in Prior Lake, MN is 16% lower than the median rent in Chanhassen, MN.

Average rent in nearby cities

Explore rent trends in neighboring markets

$1,995

$1,896

$1,277

$1,425

$1,755

$2,195

$2,625

$1,275

$2,175

$1,972

$1,640

$1,645

Discover rentals in Prior Lake, MN

5d+ ago

Apartment for rent in Prior Lake

5139 160th St Se, Prior Lake, MN 55372

5 beds

5 baths

$895

Apartment for rent

2d ago

8.4

Very good

Kestrel

16650 Brunswick Ave Se, Prior Lake, MN 55372

2–3 beds

1–2 baths

$1,395–$1,650

Apartment for rent

16704 Brunswick Ave Se #201 - Photo 1 of 1

5d+ ago

Apartment for rent in Prior Lake

Available 7/31/2026

16704 Brunswick Ave Se #201, Prior Lake, MN 55372

2 beds

1 bath

$1,395

Apartment for rent

Available Jul 31

5d+ ago

Apartment for rent in Prior Lake

Kestrel - 704-201

16704 Brunswick Ave Se, Prior Lake, MN 55372

2 beds

1 bath

$1,395

Apartment for rent

Available Jul 27

The Village at Five Hawks - Photo 1 of 1

5d+ 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

$1,545–$1,995

Apartment for rent

Stay up to date with rental market insights

National Rent Report

Canadian Rent Report

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 $1,677 per month as of July 25, 2026.

Is rent up or down in Prior Lake?

Average rent prices in Prior Lake have remained the same over the last month and have decreased by 12% since last year.

How does Prior Lake rent compare to the national average?

Rent in Prior Lake is 13% below the national average, which means renters are paying approximately $253 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 $67,000/year, based on spending no more than 30% of your income on rent.

When is the best time of year to rent in Prior Lake?

Based on our current listings, 46% of Prior Lake apartments welcome pets, which works out to about 11 pet-friendly units each month across the city's average inventory of 24 listings.

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).