Eden Prairie, Minnesota Rental Market Trends
Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the Eden Prairie, Minnesota rental market.
Eden Prairie, Minnesota
Average Apartment Rent
$1,702
Y-o-Y Change in Average
Apartment Rent
3.6%
As of November 2024
Compared to a year ago, Eden Prairie, Minnesota apartments have recorded a 3.6% rent increase.
Eden Prairie, Minnesota Average apartment rent trend
Eden Prairie, Minnesota Average Apartment Rent
Eden Prairie, Minnesota Apartment rent ranges
At 51.02%, apartments priced $1,500 - $2,000 represent the bulk of Eden Prairie, Minnesota rentals, while condos priced $700 - $1000 hold the lowest share of the market – 0.54%.
Eden Prairie, Minnesota Housing tenure**
Renters take up 24% of Eden Prairie, Minnesota real estate, occupying a total of 5,939 units, while homeowners live in 19,131 properties.
Median number of rooms of renter-occupied housing units**
3.8
Renter median household income**
$83,957
Average household size of renter-occupied housing units**
2.41
Rental vacancy rate**
3.2%
Eden Prairie, Minnesota Renter-occupied housing units by no. of bedrooms**
There are 3,125 rentals in Eden Prairie, Minnesota with 2 beds making up the highest share of the market, at 53%. Units with 5 or more beds, on the other hand, hold the lowest percentage (1%), amounting to 70 units. Overall, the median number of rooms in Eden Prairie, Minnesota homes for rent is 3.8.
Eden Prairie, Minnesota Renter-occupied units by age of householder**
Most condos for rent in Eden Prairie, Minnesota are occupied by residents in the 25 - 34 years age group (30%), followed by those in the 35 - 44 years age group (26%). At the same time, people in the 15 - 24 years age group make up the lowest share of the local rental market – 4%.
Eden Prairie, Minnesota Renter-occupied housing units by family type**
Eden Prairie, Minnesota Renter-occupied housing units by the presence of own children**
A total of 3,316 apartments for rent in Eden Prairie, Minnesota, or 56% of all rentals are family households. Additionally, 34% of rental homes include children under the age of 18 – that’s 2,046 units. All in all, the median size of a renter-occupied household in Eden Prairie, Minnesota is 2.41.
Eden Prairie, Minnesota Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 50% of the rental market. In contrast, residents with less than a high school degree reside in 6% of the homes for rent in Eden Prairie, Minnesota.
Eden Prairie, Minnesota Renter-occupied units by year structure built**
The highest share of Eden Prairie, Minnesota apartment rentals, namely 35% or 2,077 units, were Built 1980 - 1989, followed by those Built 1990 - 1999 (22%, 1,302 units), and the ones Built 2000 - 2009 (16%, 941 units).
Eden Prairie, Minnesota Renter-occupied units by year householder moved in**
Median year renter moved into unit 2018
Most Eden Prairie, Minnesota renters (46%) moved in 2018 to 2020, while only 1% of them moved in 1990 to 1999. Overall, the median year renters have occupied their Eden Prairie, Minnesota condos for rent is 2018.
Eden Prairie, Minnesota Renter-occupied housing units by vehicles available**
When it comes to transportation options, 55% of Eden Prairie, Minnesota renters have 1 vehicle available per household, 34% of them have 2 vehicles available, and 6% have No vehicle available.
Eden Prairie, Minnesota Means of transportation to work of householders living in renter-occupied housing units**
Eden Prairie, Minnesota Geographical mobility in the past year for householders living in renter-occupied housing units**
Eden Prairie, Minnesota Average apartment rent by zip codes
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Eden Prairie, Minnesota apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.
*Average single-family rent calculated from point2homes.com data.
**Data sourced from U.S. Census Bureau; American Community Survey, 2022 American Community Survey 5-Year Estimates
