Minneapolis home values
Minneapolis at a glance
- Zillow’s Home Value Index puts the typical home at $334,500 (Aug 2026), +0.1% over the past 12 months and −1% over five years.
- The Census median home value in Minneapolis is about $372,400 — 13% above Minnesota overall and 9% above the U.S. median.
- Median household income is about $82,000; median rent about $1,353/month.
- Neighborhood values range from $234K to $597K across 14 distinct ZIP codes.
Minneapolis home value trend
Over the 12 months to Aug 2026, typical home values in Minneapolis were essentially flat, to about $334,500. That is 0.9 percentage points slower than Minnesota (+1.0%). Values are 3.2% below their peak of $345,600 in Jun 2022. Over five years the typical home gained $-2,900 in value (−1%).
Year-by-year values
| Month | Typical value | Change vs year before |
|---|---|---|
| Aug 2026 | $334,500 | +0.1% |
| Aug 2025 | $334,200 | +1.1% |
| Aug 2024 | $330,500 | −1.1% |
| Aug 2023 | $334,200 | −2.6% |
| Aug 2022 | $343,100 | +1.7% |
| Aug 2021 | $337,400 | +9.9% |
| Aug 2020 | $307,000 | +3.6% |
| Aug 2019 | $296,300 | +2.8% |
| Aug 2018 | $288,300 | +8.5% |
| Aug 2017 | $265,800 | +8.9% |
| Aug 2016 | $244,000 | — |
Source: Zillow Home Value Index (ZHVI), typical value of mid-tier homes, smoothed & seasonally adjusted. Areas with several ZIPs: population-weighted.
About Minneapolis
Minneapolis is a city in Hennepin County, Minnesota, United States, and its county seat. With a population of 429,954 as of the 2020 census, it is the state's most populous city. Located in the state's center near the eastern border, it occupies both banks of the Upper Mississippi River and adjoins Saint Paul, the state capital of Minnesota. Minneapolis, Saint Paul, and the surrounding area are collectively known as the Twin Cities, a metropolitan area with 3.69 million residents. Minneapolis is built on an artesian aquifer on relatively flat terrain and is known for cold, snowy winters and hot, humid summers. Nicknamed the "City of Lakes", Minneapolis is abundant in water, with thirteen lakes, wetlands, the Mississippi River, creeks, and waterfalls. The city's public park system is connected by the Grand Rounds National Scenic Byway.
Source: en.wikipedia.org (CC BY-SA)
Minneapolis home value score
from local value, rent & income
In Minneapolis (14 ZIPs), prices are high relative to rents (a low gross yield), and homes are moderately priced against local incomes.
How the Value Score is built
Computed figures
A transparent value snapshot — computed from U.S. Census ACS (2023) for Minneapolis (14 ZIPs): home value, gross rent and household income. It is not a market-timing or appreciation forecast.
Minneapolis neighborhoods compared
| Name | Home value | 1-yr | Income | Rent | Price / income |
|---|---|---|---|---|---|
| Dinkytown ZIP 55414 · shared | $454K | −1.9% | $47K | $1,368 | 9.7× |
| Downtown East | $582K | −15.5% | $126K | $1,836 | 4.6× |
| Downtown West city data | — | — | — | — | — |
| Elliot Park ZIP 55404 · shared | $294K | +0.3% | $44K | $1,063 | 6.7× |
| Fulton ZIP 55410 · shared | $597K | +3.8% | $145K | $1,622 | 4.1× |
| Harrison | $450K | +3.4% | $70K | $1,188 | 6.4× |
| Hawthorne | $234K | +1.2% | $53K | $1,220 | 4.4× |
| Kingfield | $366K | +2.5% | $98K | $1,364 | 3.7× |
| Linden Hills ZIP 55410 · shared | $597K | +3.8% | $145K | $1,622 | 4.1× |
| Longfellow ZIP 55406 · shared | $336K | +2.1% | $92K | $1,276 | 3.7× |
| Loring Park ZIP 55403 · shared | $285K | −7.4% | $60K | $1,199 | 4.8× |
| Lyndale ZIP 55408 · shared | $388K | +1.4% | $72K | $1,385 | 5.4× |
| Marcy-Holmes ZIP 55414 · shared | $454K | −1.9% | $47K | $1,368 | 9.7× |
| Nokomis | $368K | +1.6% | $123K | $1,377 | 3.0× |
| North Loop | $402K | −3.7% | $116K | $2,010 | 3.5× |
| Northeast | $333K | +2.4% | $96K | $1,349 | 3.5× |
| Seward ZIP 55406 · shared | $336K | +2.1% | $92K | $1,276 | 3.7× |
| Sheridan | $354K | −3.4% | $84K | $1,497 | 4.2× |
| Stevens Square ZIP 55403 · shared | $285K | −7.4% | $60K | $1,199 | 4.8× |
| Uptown ZIP 55408 · shared | $388K | +1.4% | $72K | $1,385 | 5.4× |
| Whittier ZIP 55404 · shared | $294K | +0.3% | $44K | $1,063 | 6.7× |
Home value, income and rent: Census ACS medians; 1-yr: Zillow ZHVI change over 12 months. Tap a column heading to sort.
Minneapolis vs Minnesota and the U.S.
| Minneapolis | Minnesota | U.S. | |
|---|---|---|---|
| Typical value (Zillow, Aug 2026) | $334,500 | $331,400 | — |
| 1-year change | +0.1% | +1.0% | — |
| 5-year change | −1% | +5% | — |
| Median home value (Census) | $372,400 | $330,000 | $340,200 |
| Median household income | $82,000 | $81,800 | $78,500 |
| Median gross rent | $1,353/mo | $1,306/mo | $1,406/mo |
| Price-to-income ratio | 4.5× | 4.0× | 4.3× |
| Gross rental yield | 4.4% | 4.7% | 5.0% |
| Rent as share of income | 20% | 19% | 21% |
| Mortgage payment* | $1,883/mo | $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 Minneapolis
At today’s typical value of $334,500 (Zillow, Aug 2026), a buyer putting 20% down ($66,900) and financing the rest at 6.5% over 30 years would pay about $1,691 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 $1,353/month, so owning costs roughly 25% 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.
What this means for buyers, sellers and investors in Minneapolis
Buyers
At 4.5× local income, prices are moderate — compare a few nearby areas before committing.
Sellers
Values are up 0.1% on the year, so recent sales support your price — and get a home-specific estimate: condition and size move the number more than the area average.
Investors
A gross rental yield of 4.4% is low — this is an appreciation play rather than a cash-flow market.
Minneapolis real estate FAQ
Are home prices going up in Minneapolis?
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Is Minneapolis affordable?
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Is Minneapolis good for rental property investment?
What is the most affordable neighborhood in Minneapolis?
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What’s your Minneapolis home worth?
Estimates are informational only and are not an appraisal.
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.