RentData

Average Rent in McLeod County, MN↓ Rents falling 3.1% YoY🔻 3rd cheapest in MN

HUD FY2025 · Official government data · Updated annually · Metro pop. 36,771

Data review: HUD FY2025Sources: HUD, Zillow, Census, BLSMethodologyEditorial standardsReport a correction

Market Overview

McLeod County, MN has rental prices ranging from $748/month to $1,567/month in 2025, depending on unit size. The typical 1-bedroom apartment rents for $762/month — 46% below the national average of $1,400/month. With a median household income of $78,468/year, spending $762/month on a 1-bedroom represents 12% of gross income — within the recommended 30% threshold.

How McLeod County Compares

With an average 2-bedroom rent of $933/month, McLeod County ranks #73 most expensive of the 75 cities tracked in Minnesota — more affordable than 60% of all US cities in our data.

The McLeod County Rental Market

The McLeod County, MN area has a population of about 36,771 and 22% of households renting rather than owning. That renter share runs below the US average of ~34%, a more homeowner-heavy market where rental inventory can be limited.

Rent Trends

2-bedroom rents in McLeod County, MN have fallen by $30/month (3.1%) over the past year, from $963 to $933. This slight decline is consistent with broader market corrections seen across US rental markets.

Affordability

To afford a 1-bedroom apartment in McLeod County, MN without exceeding the 30% housing cost guideline, a renter needs an annual income of approximately $30,480. The local median household income of $78,468 exceeds that threshold by $47,988, making McLeod County relatively accessible compared to local wages.

Economy & Jobs

McLeod County, MN has an unemployment rate of 4.7%, 0.8 percentage points above the national average of 3.9%. A higher unemployment rate can moderate rental demand over time, which may help keep rent growth in check compared to tighter job markets.

Fair Market Rents

HUD FY2025
Studio
$748
Affordable
1 Bedroom
$762
Affordable
2 Bedrooms
$933
↓3.1% YoY
Affordable
3 Bedrooms
$1,198
Affordable
4 Bedrooms
$1,567
Affordable
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Is McLeod County, MN Affordable?

Income needed to rent or buy, price history, and how this city compares to nearby metros.

Affordability Index(30% income rule)

To rent a 2BR
$37,320/year
Local median income: $78,468
To buy a median home
—/year
US national median: $75,000
💡 Based on a 2BR rent of $933/month and 20% down on a — home at 7% rate.

Nearby Cities in MNlargest metros in the state

CityStudio1BR2BR3BRHome Value
Minneapolis$1,220$1,381$1,685$2,244—
Duluth$782$896$1,140$1,538—
Lake County$848$942$1,236$1,489—
Fargo$694$836$1,012$1,418—
Rochester$989$1,101$1,341$1,879—
St. Cloud$856$883$1,151$1,510—

Rent or Buy in McLeod County?

Break-even analysis and mortgage estimates based on local market data.

Should I Rent or Buy?

Break-even analysis using real McLeod County data

$
Home Value
$350,000
2BR Rent
$933/mo
Mortgage Rate
7%
Monthly P&I
$1,863/mo
🏢 Rent

Renting appears to be the better financial choice for this scenario.

Total monthly buy cost: $2,577/movs rent: $933/mo
Estimates only. Excludes HOA, PMI (if <20% down), closing costs, and tax benefits. Assumes 5% return on invested down payment.

Living in McLeod County

Cost of living, job market, crime rates, and moving cost estimates.

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Frequently Asked Questions

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🏘️Neighborhoods in McLeod County

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💵Rent Affordability in McLeod County

Salary needed to afford rent here

🗺️All Cities in MN

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⚖️Compare McLeod County

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📋MN Tenant Rights

Deposit limits, eviction laws & renters protections