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Studio Apartment for Rent in Eveleth, MN

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    $1,300

    Total Monthly Price

    • Studio
    • 1 Bath
    • House for Rent

    726 Fayal Rd, Eveleth, MN 55734

    Cute and Cozy 3 Bed 1 1/4 Bath Home with a one stall garage space for an extra $100 per month. $1400.00 per month plus utilities. Or $1500 per month plus utilities with garage space.Available July 1st. No section 8. Dogs are welcome for an additional fee. No cats!

    726 Fayal Rd, Eveleth, MN 55734

Why Live in Eveleth

Eveleth, MN, is a small community with a rich history in mining and hockey. The United Taconite mine, operated by Cleveland-Cliffs, has been a significant part of the area since the late 1800s. Eveleth is part of the Quad Cities in the Mesabi Iron Range, alongside Virginia, Mountain Iron, and Gilbert. Hockey is deeply ingrained in the local culture, with the community producing numerous NHL and Olympic players. The Eveleth Hippodrome, an indoor hockey arena, is home to the Minnesota Wilderness junior hockey team, and the U.S. Hockey Hall of Fame is located here. The town also features the world’s largest hockey stick and hosts the Thunder Over Eveleth Fourth of July celebration. Residential areas showcase homes built from the late 1800s to mid-1900s, including bungalows, American Foursquares, and midcentury ranch-style houses. The downtown area, though small, offers local dining options such as Snickers Pizza Shop and The Rink Sports Bar & Grill. For groceries and other amenities, residents often travel to nearby Virginia. The Mesabi Trail, a 162-mile path through the Iron Ridge range, runs through Eveleth, providing outdoor recreation opportunities. Rock Ridge High School, serving grades 7-12, has a competitive hockey team coached by Stanley Cup champion Matt Niskanen. U.S. Route 53 connects Eveleth to Virginia, Duluth, and the Canadian border, making travel convenient.

Frequently Asked Questions

How much does it cost to rent a home in Eveleth, MN?
The median rent for a home in Eveleth, MN is $1,300 per month, though prices vary by neighborhood, size, and property type. As of July 2026, single-family homes tend to be the most affordable option.
How much do you need to make to afford rent in Eveleth, MN?
To comfortably afford the median rent in Eveleth, MN, a household needs to earn roughly $52,000 per year. This is based on the common guideline that households should spend no more than 30% of gross income on housing. Most landlords require monthly household income of at least 3x the monthly rent, and with a median rent of $1,300 per month in Eveleth, MN, renters typically need to show $3,900 per month in gross income to qualify. Actual affordability will vary depending on household debts, other living expenses, and overall budget.
Is it more affordable to rent or buy in Eveleth, MN?
In Eveleth, MN, the price-to-rent ratio is 8.3, which generally favors renting. This ratio divides the median home price by the annual median rent: below 15 typically favors buying, 15 to 20 is balanced, and above 20 typically favors renting. Your finances, how long you plan to stay, and costs like mortgage rates, taxes, and maintenance all factor into the decision.

Rental Home Trends

Number of Homes for Rent
1
Median Rent
$1,300
Median Single Family Home Rent
$1,300
How to Rent a Home