Affordable & Income-Based Housing in Minneapolis

Affordability in Minneapolis

According to Census ACS 5-Year data (as of 2024), the median monthly rent in Minneapolis is $1,371 and the median household income is $80,846 annually. Just over half of Minneapolis residents rent their homes, with 52% of households being renters, reflecting strong demand for rental housing across the city.

Lease Lantern tracks 55 HUD-assisted and income-based properties totaling 6,572 units in Minneapolis, offering options that may be well below market rate for eligible renters.

Safety

According to FBI Crime Data Explorer, the Minneapolis Police Department reported a violent crime rate of 1,168 per 100,000 residents in 2024. Crime rates are not comparable across cities due to differences in reporting practices and local definitions.

Getting Around Minneapolis

According to Walk Score, the area around assisted properties in Minneapolis rates 89 (Very Walkable), 81 for Transit (Excellent Transit), and 97 for Biking -- among the highest bike scores in the country.

Schools

Minneapolis is served by 165 schools across 34 districts, including 76 elementary, 16 middle, 61 high schools, and 12 other schools, according to NCES Common Core of Data. Ratings and quality vary by school and district, so renters should check the assigned schools for a specific address before making a decision.

Cost of Living in Minneapolis

The median household income in Minneapolis is $80,846 per year, according to the Census ACS 5-Year estimate. The median asking rent citywide is $1,371 per month, according to the same source.

Rent at HUD-assisted and income-based properties in Minneapolis is calculated as a percentage of a household's income, which can make these homes significantly more affordable than market-rate apartments for qualifying renters.

• Median household income: $80,846/year (Census ACS 5-Year)
• Median market rent: $1,371/month (Census ACS 5-Year)
• Renter households: 52% of Minneapolis residents rent their homes (Census ACS 5-Year)
• Affordable units available: 6,572 across 55 HUD-assisted properties in Minneapolis

Flood and Environmental Exposure

All 55 HUD-assisted properties in Minneapolis were mapped for flood risk. None are located in a high-risk flood zone, which is a reassuring baseline for renters concerned about flood exposure.