Minnesota home values
Minnesota at a glance
- Zillow’s Home Value Index puts the typical home at $331,400 (Aug 2026), +1.0% over the past 12 months and +5% over five years.
- Across the 3 cities covered here, the Census median home value is about $330,000 — 3% below the U.S. median.
- Median household income averages $81,800 and median rent $1,306/month.
- City values range from $295K in St. Paul to $372K in Minneapolis.
Minnesota home value trend
Over the 12 months to Aug 2026, typical home values in Minnesota rose 1.0%, to about $331,400. Over five years the typical home gained $16,200 in value (+5%).
Year-by-year values
| Month | Typical value | Change vs year before |
|---|---|---|
| Aug 2026 | $331,400 | +1.0% |
| Aug 2025 | $328,100 | +1.2% |
| Aug 2024 | $324,100 | −0.0% |
| Aug 2023 | $324,200 | −1.5% |
| Aug 2022 | $329,000 | +4.4% |
| Aug 2021 | $315,200 | +12.3% |
| Aug 2020 | $280,700 | +4.1% |
| Aug 2019 | $269,700 | +3.5% |
| Aug 2018 | $260,500 | +8.2% |
| Aug 2017 | $240,800 | +9.4% |
| Aug 2016 | $220,000 | — |
Source: Zillow Home Value Index (ZHVI), typical value of mid-tier homes, smoothed & seasonally adjusted. Areas with several ZIPs: population-weighted.
Minnesota cities compared
| Name | Home value | 1-yr | Income | Rent | Price / income |
|---|---|---|---|---|---|
| Minneapolis | $372K | +0.2% | $82K | $1,353 | 4.5× |
| Rochester | $315K | +3.7% | $94K | $1,331 | 3.4× |
| St. Paul | $295K | +0.8% | $77K | $1,249 | 3.8× |
Home value, income and rent: Census ACS medians; 1-yr: Zillow ZHVI change over 12 months. Tap a column heading to sort.
Minnesota vs the U.S.
| Minnesota | U.S. | |
|---|---|---|
| Typical value (Zillow, Aug 2026) | $331,400 | — |
| 1-year change | +1.0% | — |
| 5-year change | +5% | — |
| Median home value (Census) | $330,000 | $340,200 |
| Median household income | $81,800 | $78,500 |
| Median gross rent | $1,306/mo | $1,406/mo |
| Price-to-income ratio | 4.0× | 4.3× |
| Gross rental yield | 4.7% | 5.0% |
| Rent as share of income | 19% | 21% |
| Mortgage payment* | $1,669/mo | $1,720/mo |
Census figures: U.S. Census Bureau ACS 5-year estimates; areas spanning several ZIPs use population-weighted averages of ZIP medians, and city/state columns cover the ZIPs of the places listed on this site. Zillow: ZHVI. *Principal & interest on the Census median value, 20% down, 6.5% fixed, 30 years.
What it costs to buy a home in Minnesota
At today’s typical value of $331,400 (Zillow, Aug 2026), a buyer putting 20% down ($66,280) and financing the rest at 6.5% over 30 years would pay about $1,676 a month in principal and interest — 25% of the median household income here. That sits within the common 28% guideline, so the typical home is within reach of a typical local household. The median rent is $1,306/month, so owning costs roughly 28% more per month than renting, before taxes, insurance and upkeep — the trade-off is building equity.
Estimate only: excludes property tax, insurance, HOA and PMI, which vary by property. Incomes and rents are the latest Census (ACS 2023) figures. Run your own numbers in the estimator below.
Minnesota real estate FAQ
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About this data
Data last updated: September 2026.
Current values and trends use the Zillow Home Value Index (ZHVI) — the typical value of mid-tier homes, smoothed and seasonally adjusted — through Aug 2026. It is refreshed monthly.
Median values, incomes, rents, housing stock and commutes come from the U.S. Census Bureau’s American Community Survey (ACS) 5-year estimates at ZIP Code Tabulation Area level. City and state figures are population-weighted averages of their ZIPs.
The Value Score (0–10) blends gross rental yield and price-to-income affordability. It is a value snapshot, not a forecast.
Mortgage figures assume 20% down and a 6.5% fixed 30-year loan, principal and interest only.
These are area-level statistics, not an appraisal of any individual property, and not financial advice.
Sources: U.S. Census ACS · Zillow ZHVI.