Cheap Apartments for Rent in 55406
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$1,045 - $1,425/mo
Studio-2 Beds
1 Bath3962, 3964, 3966 Minnehaha Ave | 3962-3964-3966 Minnehaha Ave,
Minneapolis, MN 55406
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PET FRIENDLY$1,103 - $1,322/moStudio-1 Bed1 BathOaks Hiawatha Station | 4540 Snelling Ave,
Minneapolis, MN 55406
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Average Rent Trends in 55406
Rent in 55406 varies by number of bedrooms and home type. Use these charts to quickly see how rent changes.
Average rent stayed about the same in Oct 2026 compared to the previous month. Rent previously peaked in Jul 2025.
| Month | Average rent |
|---|---|
| Nov 2025 | $1,550 |
| Dec 2025 | $1,550 |
| Jan 2026 | $1,597 |
| Feb 2026 | $1,533 |
| Mar 2026 | $1,479 |
| Apr 2026 | $1,550 |
| May 2026 | $1,495 |
| Jun 2026 | $1,460 |
| Jul 2026 | $1,440 |
| Aug 2026 | $1,494 |
| Sep 2026 | $1,596 |
| Oct 2026 | $1,599 |
Average Rent By Bedroom and Home Type
In October 2026, Apartments and Condos were the most affordable home type to rent compared with Houses and Townhomes.
| 1 bed | 2 beds | 3 beds | 4 beds | All | |
|---|---|---|---|---|---|
| All home types | $1,375 | $1,700 | $2,150 | $2,251 | $1,599 |
| Townhomes | — | — | $1,895 | $4,200 | $2,550 |
| Apartments and Condos | $1,450 | $1,695 | $1,900 | — | $1,600 |
| Houses | $800 | $2,100 | $2,349 | $2,251 | $2,150 |
Frequently Asked Questions about Rentals in 55406
- What is the average rent of an apartment in 55406?The average rent of an apartment in 55406 is $1,417 per month. This is about 27% lower than the national average.
- What are the cheapest months to find an apartment to rent in 55406?Last year, the cheapest month to find an apartment to rent was Jun 2025 when it was $1,325 per month.
- How many cheap apartments are available in 55406?There are 41 apartments to rent that are cheaper than the city’s average rent of $1,599.
- When is the average rent most expensive in 55406?In the last year, the average rent in 55406 was highest in Jul 2025 when it was $1,590 per month.
- How does the rent of a 1 bedroom apartment compare to a studio apartment in 55406?The average rent of a 1 bedroom apartment in 55406 is $1,375 per month. That is about $175 more than the cost of a studio apartment.
- What are some cities near 55406?Some nearby cities include: Minneapolis, Lauderdale, Falcon Heights, Mendota, Lilydale, Richfield. These cities may have more rental options to explore.
View this page in Spanish: Apartamentos baratos en renta en 55406 - 183 Rentas | Trulia