North Loop (prime, ~$38/sqft/yr) is one of 5 Minneapolis Class A submarkets we track.

  • North Loop sits at prime tier.
  • Average rent $38/sqft/yr vs city average 32.
  • Compared submarkets: Downtown East (trophy), Downtown West (trophy), Southwest Suburbs (Edina, Eden Prairie) (established).

North Loop vs other Minneapolis submarkets

North Loop (prime, ~$38/sqft/yr) is one of 5 Minneapolis Class A submarkets we track.

TL;DR

  • North Loop sits at prime tier.
  • Average rent $38/sqft/yr vs city average 32.
  • Compared submarkets: Downtown East (trophy), Downtown West (trophy), Southwest Suburbs (Edina, Eden Prairie) (established).

Side-by-side with peers

**Downtown East** (trophy, $44/sqft/yr) — Trophy near US Bank Stadium. **Downtown West** (trophy, $42/sqft/yr) — Legacy trophy core with skyway connectivity. **Southwest Suburbs (Edina, Eden Prairie)** (established, $28/sqft/yr) — Suburban Fortune 500 belt. **Downtown St. Paul** (established, $26/sqft/yr) — Capital city government and law cluster.

Key facts

cityMinneapolis
submarketNorth Loop
tierprime
averageRentLocal$38/sqft/yr
cityClassARentUsd$32/sqft/yr
cityVacancyPct23.7%

Frequently asked questions

What other submarkets compete with North Loop in Minneapolis?
Downtown East, Downtown West, Southwest Suburbs (Edina, Eden Prairie)

Related

Editorial provenance

Reviewed by Miriam Hollander — Lead market analyst. Last updated 2026-04-15. See our methodology and editorial standards.

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