Average Rent in Pennington County, MN↓ Rents falling 1.8% YoY🔺 11th priciest in MN

Pennington County, MN has rental prices ranging from $741/month to $1,559/month in 2025, depending on unit size. The typical 1-bedroom apartment rents for $823/month — 41% below the national average of $1,400/month. With a median household income of $72,561/year, spending $823/month on a 1-bedroom represents 14% of gross income — within the recommended 30% threshold.

How Pennington County Compares

With an average 2-bedroom rent of $1,080/month, Pennington County ranks #11 most expensive of the 75 cities tracked in Minnesota — pricier than 73% of all US cities in our data.

The Pennington County Rental Market

The Pennington County, MN area has a population of about 13,877 and 29% 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 Pennington County, MN have fallen by $20/month (1.8%) over the past year, from $1,100 to $1,080. Rents have remained relatively stable year over year, indicating a balanced rental market in the area.

Affordability

To afford a 1-bedroom apartment in Pennington County, MN without exceeding the 30% housing cost guideline, a renter needs an annual income of approximately $32,920. The local median household income of $72,561 exceeds that threshold by $39,641, making Pennington County relatively accessible compared to local wages.

Economy & Jobs

Pennington County, MN has an unemployment rate of 4.9%, 1.0 percentage point 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.

Is Pennington County, MN Affordable?

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

Rent or Buy in Pennington County?

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

Living in Pennington County

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