How Much Is Rent in Plymouth, MN Right Now?
I get this question a lot from investors looking at the West Metro. Plymouth is one of those suburbs that checks every box — top-rated schools, major employers, good parks, low crime. But the numbers matter. If you are buying a rental there, you need to know what tenants are actually paying.
Here is what the data says for July 2026.
Average Rent in Plymouth by Unit Size
Depending on which source you check, the overall average rent in Plymouth lands somewhere between $1,500 and $2,200 per month. That range is wide because it mixes apartments, townhomes, and single-family houses. Break it down by unit type and it gets clearer.
- Studio apartments: $1,200–$1,260/month
- One-bedroom apartments: $1,400–$1,520/month
- Two-bedroom apartments: $1,600–$1,870/month
- Three-bedroom apartments: $1,995–$2,550/month
- Townhomes (any size): $2,100–$2,400/month
- Single-family houses: $2,400–$3,400/month
The most common rent range in Plymouth — almost half of all rentals — falls between $1,500 and $2,000 per month. That matches what I see managing properties there. A solid 3-bedroom townhome in a good neighborhood rents for around $2,200. A 2-bedroom apartment in the Bass Lake Road area goes for $1,600.
Are Plymouth Rents Going Up or Down?
Up, but not by much. Year-over-year rent growth in Plymouth is running about 2 to 3 percent depending on the source. That is not the double-digit stuff we saw during 2021-2022. It is steady, predictable growth.
Here is what that means for an investor: if you buy a rental in Plymouth today, you can reasonably project 2-3% annual rent increases over the next few years. That is not going to make you rich on its own, but paired with appreciation in a constrained-supply market, it works.
What This Means for Small Investors
Plymouth is not a market where you hit the 1% rule. You are looking at 0.7% to 0.9% on most deals — meaning a $350,000 townhome rents for around $2,200 to $2,400. That is okay if you factor in tenant quality and appreciation.
The tenant pool in Plymouth is strong. Professionals work at Boston Scientific, Optum, and the other corporate employers along the 494 corridor. Schools are excellent — Wayzata School District consistently ranks at the top in the state. Vacancy is low. When tenants leave, it is usually because they bought a house, not because they are moving to another rental.
What I tell my clients: Plymouth is a hold-and-appreciate play with solid cash flow on the right deal. If you finance right and buy below market, you can net $200-400 a month on a townhome. You are not going to slumlord your way to 20% cash-on-cash. But you will sleep better knowing your tenant has a graduate degree and pays on time.
What about Other West Metro Cities?
Eden Prairie rents run similar to Plymouth — maybe $50-100 higher for comparable units. Minnetonka and St Louis Park are slightly lower. Wayzata is higher but inventory is thin. If you are comparing cities, Plymouth is the sweet spot for value relative to school quality and tenant demographics.
Bottom Line
Plymouth rents are stable, demand is strong, and new construction has slowed to a crawl. If you have been waiting for the “right time” to buy a rental in the West Metro, the next 12-18 months look favorable for landlords.
If you are a small investor in the West Metro wondering what your property could rent for, call me at 952-994-4451 or use the contact form on this site. I manage 13 doors myself and I keep it straightforward.