Canal Apartments
525 Canal St,
Grand Rapids, MN 55744
Studio - 2 Beds | $775 - $950
Rental Market Trends in Grand Rapids, MN
What is the average rent in Grand Rapids, MN?
$866/month
Average Rent
635 Sq Ft
Average Apartment Size
+3.6%
Increase in the Last Year
As of December 2024, the average rent in Grand Rapids, MN is $866 per month. This is 44% lower than the national average rent of $1,560/month, making renting in Grand Rapids more affordable than most cities in the US. When you rent an apartment in Grand Rapids, you can expect to pay about $779 per month for a studio, $866 for a one-bedroom apartment, and around $926 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $1,089 or more.
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
How much has average rent changed in Grand Rapids, MN?
In the past year, rent has increased by 3.6%, which averages out to $31 more per month.
Market Trends Over Time
The chart below compares average rent prices to the previous year during the same time period.
Last Updated December 2024
Legend
2023
2024
Rent Ranges in Grand Rapids, MN
Last Updated December 2024
$700 - $1,000
Most rental prices fall within this range
Percentage*
Rent Range
0%
Below $700/month
78%
$700 - $1,000/month
22%
$1,001 - $1,500/month
0%
$1,501 - $2,000/month
0%
Above $2,000/month
What salary do I need to live comfortably in Grand Rapids, MN?
Because the average rent in Grand Rapids is $866, you’ll want to make about $2,886 per month or $34,632 per year. The general guideline is to pay no more than 30 percent of your monthly income on rent. However, you’ll want to consider additional factors, such as your monthly bills and other expenses. Use our rent affordability calculator to help determine how much to budget for rent.
How does Grand Rapids, MN compare to other nearby cities and neighborhoods?
Use the tool below to compare Grand Rapids, MN to other nearby cities and neighborhoods. The Apartments.com neighborhood guides provide you with insight into the area’s transportation, things to do, and more.
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Methodology
† Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
* Percentages may not total 100 due to rounding.