Apartment rents have been rising steadily in the Minneapolis market and throughout the entire state of Minnesota. But a new study by RentCafe shows just how expensive apartment living has become in the Twin Cities.
RentCafe in March released a report showing how much apartment space tenants can rent in 39 cities in Minnesota for $1,400 a month.
For $1,400 a month in Minneapolis, renters can get an average of 675 square feet of apartment space. In St. Paul, that $1,400 a month will get renters an average of 831 square feet of living space.
That Minneapolis figure? That’s the least amount of apartment space renters in the entire state of Minnesota can get for $1,400 in monthly rent. In Golden Valley, renters will get just 743 square feet, while $1,400 a month will fetch renters just 791 square feet in Edina.
Renters seeking more space in the state can turn to Mounds View, Minnesota, where $1,400 in monthly rent nets an average of 1,119 square feet, the highest average amount of space in the Twin Cities metropolitan area.
In Brooklyn Center, this much rent earns tenants an average of 1,067 square feet, while it nets an average of 1,063 square feet in Anoka.
For the entire state, renters get the most space for their $1,400 in Moorhead, at 1,488 square feet; St. Cloud, at 1,334 square feet; and Sartell, at 1,219 square feet.
Renters in Minnesota are actually making out a bit better than those in other states. RentCafe found that $1,400 in monthly rent nets an average of 780 square feet in the 100 most populated cities in the United States. The average apartment space in Minnesota for this monthly rent comes out to 867 square feet.
