Cheap Apartments for Rent in 55406
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SPECIAL OFFERPET FRIENDLY$965 - $1,015/mo
1 Bed
1 BathMinnehaha Apartments | 3628 | 3628 Minnehaha Ave #1,
Minneapolis, MN 55406
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PET FRIENDLY$1,075 - $1,925/moStudio-2 Beds1-2 BathsEverlake Apartments | 2615 E 29th St #209-4D,
Minneapolis, MN 55406
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PET FRIENDLY$1,200 - $1,670/moStudio-1 Bed1 BathOverland Apartments | 3806 24th Ave S #210,
Minneapolis, MN 55406
PET FRIENDLY$1,225 - $1,945/moStudio-2 Beds1 BathOlive Apartments | 3126 Minnehaha Ave #102,
Minneapolis, MN 55406
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PET FRIENDLY$1,260 - $1,765/moStudio-1 Bed1 BathWakpada Apartments | 4603 Minnehaha Ave #309,
Minneapolis, MN 55406
PET FRIENDLY$1,275 - $1,675/moStudio-1 Bed1 BathStation 38 Apartments | 3725 29th Ave S #109,
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 decreased in May 2026 compared to the previous month. Rent previously peaked in Jul 2025.
| Month | Average rent |
|---|---|
| Jun 2025 | $1,325 |
| Jul 2025 | $1,590 |
| Aug 2025 | $1,395 |
| Sep 2025 | $1,475 |
| Oct 2025 | $1,450 |
| Nov 2025 | $1,550 |
| Dec 2025 | $1,550 |
| Jan 2026 | $1,597 |
| Feb 2026 | $1,531 |
| Mar 2026 | $1,475 |
| Apr 2026 | $1,550 |
| May 2026 | $1,495 |
Average Rent By Bedroom and Home Type
In May 2026, Apartments and Condos were the most affordable home type to rent compared with Townhomes and Houses.
| 1 bed | 2 beds | 3 beds | 4 beds | All | |
|---|---|---|---|---|---|
| All home types | $1,387 | $1,750 | $2,290 | $2,595 | $1,517 |
| Townhomes | — | — | $2,195 | — | $2,195 |
| Apartments and Condos | $1,450 | $1,700 | $2,165 | $2,400 | $1,700 |
| Houses | $1,595 | $1,750 | $2,750 | $2,595 | $2,400 |
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 $1,354 per month. This is about 30% lower than the national average.
- What is the average rent of a house in 55406?The average rent of a house in 55406 is $2,400 per month. This is about 24% higher than the national average.
- What is the average rent of a townhome in 55406?The average rent of a townhome in 55406 is $2,195 per month. This is about 14% higher than the national average.
- When is the average rent cheapest in 55406?In the last year, the average rent in 55406 was lowest in Jun 2025 when it was $1,325 per month.
- 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 $1,387 per month. That is about $245 more than the cost of a studio apartment.
- How many available rental listings are in 55406?There are 79 available rental listings in 55406.
- 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.