The Townline
10950 Red Circle Dr,
Minnetonka, MN 55343
Studio - 3 Beds | $1,360 - $2,847
Rental Market Trends in Minnetonka, MN
What is the average rent in Minnetonka, MN?
$1,551/month
Average Rent
788 Sq Ft
Average Apartment Size
-1%
Decrease in the Last Year
As of December 2024, the average rent in Minnetonka, MN is $1,551 per month. For comparison, the national average rent price in the US is currently $1,560/month, which means Minnetonka rent prices are 1% lower than the national average. When you rent an apartment in Minnetonka, you can expect to pay about $1,285 per month for a studio, $1,551 for a one-bedroom apartment, and around $1,877 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $2,201 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 Minnetonka, MN?
In the past year, rent has decreased by 1%, which averages out to $15 less 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 Minnetonka, MN
Last Updated December 2024
$1,501 - $2,000
Most rental prices fall within this range
Percentage*
Rent Range
0%
Below $700/month
3%
$700 - $1,000/month
21%
$1,001 - $1,500/month
55%
$1,501 - $2,000/month
21%
Above $2,000/month
Rent by Neighborhood
Last Updated Today
What are the most affordable neighborhoods in Minnetonka?
Based on current rent prices, West Minnetonka, Hennepin Far Western Suburbs and East Minnetonka are the most affordable neighborhoods in Minnetonka.
Neighborhood
Average Rent
Average Sq Ft
What are the most expensive neighborhoods in Minnetonka?
Based on current rent prices, East Minnetonka, Hennepin Far Western Suburbs and West Minnetonka are the most expensive neighborhoods in Minnetonka.
Neighborhood
Average Rent
Average Sq Ft
Which Minnetonka neighborhoods have the most rentals available?
The neighborhoods in Minnetonka with the most apartments available are Hennepin Far Western Suburbs, East Minnetonka and West Minnetonka .
Neighborhood
Average Rent
Average Sq Ft
What salary do I need to live comfortably in Minnetonka, MN?
Because the average rent in Minnetonka is $1,551, you’ll want to make about $5,170 per month or $62,040 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 Minnetonka, MN compare to other nearby cities and neighborhoods?
Use the tool below to compare Minnetonka, 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.
Studio
$1,239/month
$1,264/month
One Bedroom
$1,542/month
$1,488/month
Two Bedroom
$1,809/month
$1,820/month
Three Bedroom
$2,357/month
$2,151/month
Nearby City Rent Trends
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61
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27
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24
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3,862
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56
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Highland Management Group
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30
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Sela Investments
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19
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1,274
Units
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4
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4 Communities in Minnetonka
Greystar
-
3,192
Communities
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884,978
Units
-
829
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3 Communities in Minnetonka
Cushman & Wakefield
-
552
Communities
-
136,475
Units
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276
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3 Communities in Minnetonka
Trinity Property Consultants
-
161
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43,134
Units
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102
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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.