How many apartments are available in Park Rapids, MN on Rentable.co?

Rentable.co has over 103 apartments available in Park Rapids.

What is the average rent for a two-bedroom apartment in Park Rapids, MN?

The average rent for a two-bedroom apartment in Park Rapids is around $990 per month.

How expensive is it to rent an apartment in Park Rapids, MN?

For a two-bedroom apartment in Park Rapids, the average rent price is $990 per month, which is lower than the national average of $1,600 per month.

Can I afford an apartment for rent in Park Rapids, MN?

Based on average rent prices in Park Rapids, to afford a two-bedroom apartment you would need an annual household income of $40,000 to live comfortably.

Apartments in Park Rapids

Park Rapids:
December Rent Report

Welcome to the December 2024 Park Rapids Apartment Report. In this assessment of the local rental market, Rentable data scientists and rental experts break down the December 2024 key findings and figures for the Park Rapids rental landscape.

Our experts analyze the pricing trends — one-bedroom, two-bedroom, year-over-year and month-over-month — in Park Rapids and surrounding areas and provide comparisons to the entire metro area, nearby cities and some of the most desirable and expensive cities in the United States. Take a look at the last 12 months of Park Rapids average rent prices in the chart below.

Monthly Rent Report

$1,050

$790

$530

$260

Jan. 2024

Feb. 2024

Mar. 2024

Apr. 2024

May. 2024

Jun. 2024

Jul. 2024

Aug. 2024

Sep. 2024

Oct. 2024

Nov. 2024

Dec. 2024

1 BR 2 BR

Park Rapids Rent Prices Increase From November to December

Park Rapids rent prices increased over the last month. From November to December, the city experienced a 0.6% increase for the price of a one-bedroom apartment. The rent price for a Park Rapids one-bedroom apartments currently stands at $832.0.

When we take a look at the two-bedroom comparison from November to December, Park Rapids experienced a 2.02% increase for the price of a two-bedroom apartment. The rent price for a Park Rapids two-bedroom apartments currently stands at $959.0.

December Prices: Park Rapids vs. Surrounding Areas

Rent Prices in Park Rapids and Surrounding Areas

Rent prices have increased in Park Rapids over the last month. But how have the surrounding areas fared when it comes to the recent volatility in apartment prices? Rent prices in 0 of the Park Rapids suburbs increased last month. On the other hand, 0 local areas experienced a decrease in the price of a one-bedroom apartment.

More key findings include:

Rents did not increase in any of the Park Rapids suburbs
Rents did not decrease in any of the Park Rapids suburbs.

December 2024 Pricing Trends: Park Rapids vs. National Comparisons

New York, NY

San Francisco, CA

Los Angeles, CA

Washington, DC

Chicago, IL

Columbus, OH

Minneapolis, MN

Pittsburgh, PA

$4,134

$3,160

$2,389

$2,353

$1,914

$1,318

$1,255

$1,234

$1,350

$2,700

$4,050

$5,400

Median Rent

Park Rapids Rent Prices More Affordable Than Major Cities

Rent growth in Park Rapids over the past year has been on the rise. When compared to major cities nearby, along with some of the most expensive cities in the country, Park Rapids average rent prices appear to be relatively affordable for local residents.

The price for a Park Rapids one-bedroom apartment remains vastly more affordable than four of the largest cities in the United States — New York City, Washington, D.C. San Francisco and Los Angeles. And pricing compares quite similarly to nearby Midwest cities.

For more information about Park Rapids and surrounding area rent prices, take a look at the complete data set below.

Data set for Park Rapids and suburbs

	1 BR December	1 BR M/M % Change	2 BR December	2 BR M/M % Change

Methodology

Each month, using over 1 million Rentable listings across the United States, we calculate the median 1-bedroom and 2-bedroom rent prices by city, state, and nation, and track the month-over-month percent change. To avoid small sample sizes, we restrict the analysis for our reports to cities meeting minimum population and property count thresholds.