Savage, 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 Savage, Minnesota rental market.
Savage, Minnesota
Average Apartment Rent
$1,779
Y-o-Y Change in Average
Apartment Rent
4.2%
As of May 2026
Compared to a year ago, Savage, Minnesota apartments have recorded a 4.2% rent increase.
Savage, Minnesota Average apartment rent trend
Savage, Minnesota Average Apartment Rent
Savage, Minnesota Apartment rent ranges
At 53%, apartments priced $1,500 - $2,000 represent the bulk of Savage, Minnesota rentals, while condos priced Under $1,000 hold the lowest share of the market – 2.76%.
Savage, Minnesota Housing tenure**
Renters take up 14% of Savage, Minnesota real estate, occupying a total of 1,656 units, while homeowners live in 9,926 properties.
Median number of rooms of renter-occupied housing units**
4.2
Renter median household income**
$63,667
Average household size of renter-occupied housing units**
2.47
Rental vacancy rate**
1.7%
Savage, Minnesota Renter-occupied housing units by no. of bedrooms**
There are 690 rentals in Savage, Minnesota with 2 beds making up the highest share of the market, at 42%. Units with 4 beds, on the other hand, hold the lowest percentage (1%), amounting to 20 units. Overall, the median number of rooms in Savage, Minnesota homes for rent is 4.2.
Savage, Minnesota Renter-occupied units by age of householder**
Most condos for rent in Savage, Minnesota are occupied by residents in the 25 - 34 years age group (32%), followed by those in the 35 - 44 years age group (15%). At the same time, people in the 85 years and over age group make up the lowest share of the local rental market – 3%.
Savage, Minnesota Renter-occupied housing units by family type**
Savage, Minnesota Renter-occupied housing units by the presence of own children**
A total of 944 apartments for rent in Savage, Minnesota, or 57% of all rentals are family households. Additionally, 31% of rental homes include children under the age of 18 – that’s 509 units. All in all, the median size of a renter-occupied household in Savage, Minnesota is 2.47.
Savage, Minnesota Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 32% of the rental market. In contrast, residents with less than a high school degree reside in 9% of the homes for rent in Savage, Minnesota.
Savage, Minnesota Renter-occupied units by year structure built**
The highest share of Savage, Minnesota apartment rentals, namely 30% or 494 units, were Built 2010 - 2019, followed by those Built 2000 - 2009 (25%, 411 units), and the ones Built 1990 - 1999 (14%, 234 units).
Savage, Minnesota Renter-occupied units by year householder moved in**
Median year renter moved into unit 2018
Most Savage, Minnesota renters (43%) moved in 2018 to 2020, while only 2% of them moved in 1990 to 1999. Overall, the median year renters have occupied their Savage, Minnesota condos for rent is 2018.
Savage, Minnesota Renter-occupied housing units by vehicles available**
When it comes to transportation options, 45% of Savage, Minnesota renters have 1 vehicle available per household, 42% of them have 2 vehicles available, and 8% have No vehicle available.
Savage, Minnesota Means of transportation to work of householders living in renter-occupied housing units**
Savage, 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 Savage, 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
