2024 · Minnesota
Rental yield in Minnesota
In 2024, the typical rental in Minnesota produced a gross yield of 4.5% — $1,291/mo median rent against a $345K median home value, ranking 32nd of 51 states.
4.5%
Gross rental yield
below the 4.9% U.S. median
$1,291/mo
Median gross rent
incl. utilities (ACS)
$345K
Median home value
owner-occupied (ACS)
Minnesota metros by yield
Metropolitan areas in Minnesota with at least 65,000 residents, ranked by gross rental yield.
| Metro | Gross yield | Median rent | Median value |
|---|---|---|---|
| Rochester, MN | 5.2% | $1,378/mo | $321K |
| Duluth, MN-WI | 4.8% | $993/mo | $249K |
| La Crosse-Onalaska, WI-MN | 4.8% | $1,087/mo | $275K |
| Minneapolis-St. Paul-Bloomington, MN-WI | 4.5% | $1,444/mo | $384K |
| Mankato, MN | 4.4% | $1,049/mo | $289K |
| Grand Forks, ND-MN | 4.3% | $958/mo | $266K |
| St. Cloud, MN | 4.3% | $1,039/mo | $289K |
| Fargo, ND-MN | 4.0% | $997/mo | $300K |
| Sioux Falls, SD-MN | 4.0% | $1,094/mo | $331K |
Frequently asked questions
What is the gross rental yield in Minnesota?
In 2024, Minnesota had a gross rental yield of 4.5% — $1,291/mo median gross rent against a $345K median home value. That ranks 32nd of 51 states (1 = highest yield). Nationally the figure was 4.9%.
Which Minnesota metros have the best rental yield?
Among Minnesota metros covered by the data, gross yield was highest in Rochester, MN (5.2%), Duluth, MN-WI (4.8%), and La Crosse-Onalaska, WI-MN (4.8%).
Does this account for expenses or financing?
No. Gross yield is a top-line market screen — it excludes property taxes, insurance, vacancy, management, and financing. Use it to compare markets, then run a specific deal through a cap-rate or cash-flow calculator.
How investors finance deals in Minnesota
Yield shows where the numbers work; our Investor Financing Report for Minnesota shows the rate premium, denial rate, and DSCR lending investors face there.
Run a Minnesota deal
Source: U.S. Census Bureau, American Community Survey 2024 1-year estimates. Gross rental yield = (median gross rent × 12) ÷ median home value. A market screen, not a net return.