Richfield, MN Rental Market Trends
Last updated: April 07, 2026 | Source: RentCafe Market Analysis, Yardi Matrix, U.S. Census Bureau
Highlights
The average rent for an apartment in Richfield is $1,412, a 2.68% increase compared to the previous year, when the average rent was $1,375.
Studio Apartments at $1,263 offer the most budget-friendly option with 485 square feet, ideal for single renters prioritizing location over space.
One-bedroom apartments provide 646 square feet for $1,236, balancing privacy and affordability.
Two-beedroom units at $1,843 offer 1,023 square feet, perfect for roommates or small families.
Three-bedroom apartments deliver maximum space (1,301 sq ft) for $2,113, suitable for larger households.
Average rent in Richfield, MN
Last updated: April 07, 2026
| Average Rent | Average Apartment Size | |
|---|---|---|
| All Rentals | $1,412 | 744 sq. ft. |
| Studio | $1,263 | 485 sq. ft. |
| 1 Bed | $1,236 | 646 sq. ft. |
| 2 Beds | $1,843 | 1,023 sq. ft. |
| 3 Beds | $2,113 | 1,301 sq. ft. |
Richfield, MN rent trends
Rental prices in Richfield, MN have increased by 2.68% over the past year. The average rent moved from $1,375 to $1,412.
What's the typical rent budget in Richfield, MN?
The largest share of rentals in Richfield, MN (58%) fall between $1,001-$1,500 per month. This suggests that most people succesfully find suitable apartments within this price.
Do most people rent or own in Richfield, MN?
6,361 or 38% of the households in Richfield, MN are renter-occupied while 10,186 or 62% are owner-occupied.
How Richfield Compares to Other Cities
| City | Average Rent |
|---|---|
| Richfield | $1,412 |
| Minneapolis | $1,689 |
| St. Paul | $1,528 |
| Moorhead | $1,078 |
| Rochester | $1,648 |
| St. Louis Park | $1,767 |
| Bloomington | $1,673 |
| Edina | $1,839 |
| St. Cloud | $1,182 |
| Minnetonka | $2,001 |
| Burnsville | $1,551 |
| Plymouth, MN | $1,694 |
| Eden Prairie | $1,731 |
| Eagan | $1,688 |
| Hopkins, MN | $1,588 |
| Maplewood | $1,459 |
| Brooklyn Park | $1,352 |
| West St. Paul | $1,350 |
| Chaska, MN | $1,748 |
| Golden Valley | $1,864 |
| Lakeville, MN | $1,848 |
Where this data comes from
The rental statistics on this page were compiled by RentCafe.com, a nationwide apartment search website trusted by millions of renters to find apartments and houses for rent throughout the U.S.
Rent prices, trends, and apartment sizes were calculated based on data from our sister company, Yardi Matrix, an apartment market intelligence solution that covers approximately 90% of the U.S. metro area population. The data includes comprehensive information on all Richfield apartment buildings with 50 or more units, totaling 23.5 million apartments across 181 U.S. markets.
Housing composition data was sourced from the U.S. Census Bureau, using the most recently available information by tenure.