Houses for Rent in Falcon Heights, MN

The median rent for a single-family home in Falcon Heights, MN is $1,099 per month, though prices vary by neighborhood, size, and property type. As of May 2026, condos tend to be the most affordable option.

To comfortably afford the median rent in Falcon Heights, MN, a household needs to earn roughly $43,960 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 $1,099 per month in Falcon Heights, MN, renters typically need to show $3,297 per month in gross income to qualify. Actual affordability will vary depending on household debts, other living expenses, and overall budget.

In Falcon Heights, MN, the price-to-rent ratio is 13.8, 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.

The best neighborhood for renting in Falcon Heights, MN depends on your priorities: commute, walkability, budget, and lifestyle all play a role. Popular areas for renting a single-family home include Hamline-Midway, Como, Union Park, Folwell and North End, each with its own character and price range.