Average Rent in Steele County, MN↑ Rents rising 8.9% YoY🔺 5th priciest in MN
HUD FY2027 · Official government data · Updated annually · Metro pop. 37,413
Market Overview
Steele County, MN has rental prices ranging from $866/month to $1,814/month in 2027, depending on unit size. The typical 1-bedroom apartment rents for $951/month — 32% below the national average of $1,400/month. With a median household income of $83,448/year, spending $951/month on a 1-bedroom represents 14% of gross income — within the recommended 30% threshold.
How Steele County Compares
With an average 2-bedroom rent of $1,244/month, Steele County ranks #5 most expensive of the 76 cities tracked in Minnesota — pricier than 78% of all US cities in our data.
The Steele County Rental Market
The Steele County, MN area has a population of about 37,413 and 20% 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 Steele County, MN have risen by $102/month (8.9%) over the past year, from $1,142 to $1,244. This rate of increase is significant and reflects strong rental demand and limited housing supply in the local market.
Affordability
To afford a 1-bedroom apartment in Steele County, MN without exceeding the 30% housing cost guideline, a renter needs an annual income of approximately $38,040. The local median household income of $83,448 exceeds that threshold by $45,408, making Steele County relatively accessible compared to local wages.
Economy & Jobs
Steele County, MN has an unemployment rate of 5.4%, 1.5 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 FY2027Is Steele County, MN Affordable?
Income needed to rent or buy, price history, and how this city compares to nearby metros.
Affordability Index(30% income rule)
Nearby Cities in MNlargest metros in the state
| City | Studio | 1BR | 2BR | 3BR | Home Value |
|---|---|---|---|---|---|
| Minneapolis | $1,265 | $1,427 | $1,734 | $2,264 | — |
| Duluth | $841 | $961 | $1,207 | $1,671 | — |
| Lake County | $848 | $942 | $1,236 | $1,489 | — |
| Fargo | $781 | $903 | $1,104 | $1,529 | — |
| Rochester | $1,183 | $1,226 | $1,422 | $1,969 | — |
| St. Cloud | $884 | $961 | $1,233 | $1,656 | — |
Rent or Buy in Steele County?
Break-even analysis and mortgage estimates based on local market data.
Should I Rent or Buy?
Break-even analysis using real Steele County data
Buying breaks even after 1 year — worth it if you stay 1+ years.
Living in Steele County
Cost of living, job market, crime rates, and moving cost estimates.
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Frequently Asked Questions
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💵Rent Affordability in Steele CountySalary needed to afford rent here
🗺️All Cities in MNSee how Steele County ranks statewide
⚖️Compare Steele CountySide-by-side rent & cost of living with any city
📋MN Tenant RightsDeposit limits, eviction laws & renters protections