Inver Grove Heights, 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 Inver Grove Heights, Minnesota rental market.
Inver Grove Heights, Minnesota
Average Apartment Rent
$1,739
Y-o-Y Change in Average
Apartment Rent
7.6%
As of March 2026
Compared to a year ago, Inver Grove Heights, Minnesota apartments have recorded a 7.6% rent increase.
Inver Grove Heights, Minnesota Average apartment rent trend
Inver Grove Heights, Minnesota Average Apartment Rent
Inver Grove Heights, Minnesota Apartment rent ranges
At 39.75%, apartments priced $1,500 - $2,000 represent the bulk of Inver Grove Heights, Minnesota rentals, while condos priced Under $1,000 hold the lowest share of the market – 1.2%.
Inver Grove Heights, Minnesota Housing tenure**
Renters take up 26% of Inver Grove Heights, Minnesota real estate, occupying a total of 3,873 units, while homeowners live in 10,850 properties.
Median number of rooms of renter-occupied housing units**
4
Renter median household income**
$50,962
Average household size of renter-occupied housing units**
2.1
Rental vacancy rate**
1.6%
Inver Grove Heights, Minnesota Renter-occupied housing units by no. of bedrooms**
There are 2,028 rentals in Inver Grove Heights, Minnesota with 2 beds making up the highest share of the market, at 52%. Units with 5 or more beds, on the other hand, hold the lowest percentage (1%), amounting to 30 units. Overall, the median number of rooms in Inver Grove Heights, Minnesota homes for rent is 4.
Inver Grove Heights, Minnesota Renter-occupied units by age of householder**
Most condos for rent in Inver Grove Heights, Minnesota are occupied by residents in the 35 - 44 years age group (22%), followed by those in the 25 - 34 years age group (22%). At the same time, people in the 15 - 24 years age group make up the lowest share of the local rental market – 4%.
Inver Grove Heights, Minnesota Renter-occupied housing units by family type**
Inver Grove Heights, Minnesota Renter-occupied housing units by the presence of own children**
A total of 1,595 apartments for rent in Inver Grove Heights, Minnesota, or 41% of all rentals are family households. Additionally, 27% of rental homes include children under the age of 18 – that’s 1,034 units. All in all, the median size of a renter-occupied household in Inver Grove Heights, Minnesota is 2.1.
Inver Grove Heights, Minnesota Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 34% of the rental market. In contrast, residents with less than a high school degree reside in 9% of the homes for rent in Inver Grove Heights, Minnesota.
Inver Grove Heights, Minnesota Renter-occupied units by year structure built**
The highest share of Inver Grove Heights, Minnesota apartment rentals, namely 29% or 1,111 units, were Built 1970 - 1979, followed by those Built 1990 - 1999 (25%, 971 units), and the ones Built 1980 - 1989 (16%, 614 units).
Inver Grove Heights, Minnesota Renter-occupied units by year householder moved in**
Median year renter moved into unit 2016
Most Inver Grove Heights, Minnesota renters (54%) moved in 2010 to 2017, while only 5% of them moved in 2021 or later. Overall, the median year renters have occupied their Inver Grove Heights, Minnesota condos for rent is 2016.
Inver Grove Heights, Minnesota Renter-occupied housing units by vehicles available**
When it comes to transportation options, 56% of Inver Grove Heights, Minnesota renters have 1 vehicle available per household, 25% of them have 2 vehicles available, and 16% have No vehicle available.
Inver Grove Heights, Minnesota Means of transportation to work of householders living in renter-occupied housing units**
Inver Grove Heights, Minnesota Geographical mobility in the past year for householders living in renter-occupied housing units**
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 Inver Grove Heights, 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
