The market in numbers
Home values over the last two years
The typical home in Minnesota was worth $280,900 in September 2024 and $300,600 in August 2026, a change of +7.0% over two years. The high point of the period came in April 2026, at $300,600, and values are 0.0% below it today.
Housing markets by metro
Typical home value, 12-month change and rents for each metro area in Minnesota, largest first. Linked metros have their own report, ZIP code by ZIP code. Where a metro crosses a state line, the figures cover only its part inside Minnesota. Of Minnesota's ZIP codes, 143 lie outside any metro area.
| Metro area | ZIP codes | Home value | 12 months | Monthly rent | Gross yield |
|---|---|---|---|---|---|
| Minneapolis | 201 | $380,300 | +2.0% | $1,800 | 5.5% |
| Rochester | 35 | $334,500 | +3.4% | $1,600 | 4.8% |
| St. Cloud | 26 | $332,200 | +4.3% | $1,200 | 5.1% |
| Faribault | 8 | $383,500 | +2.8% | n/a | n/a |
| Duluth | 61 | $226,100 | +4.4% | $1,400 | 6.7% |
| Brainerd | 27 | $334,900 | +3.6% | n/a | n/a |
| Mankato | 22 | $260,900 | +4.5% | $1,200 | 4.8% |
| Austin | 12 | $261,300 | +3.8% | n/a | n/a |
| Alexandria | 11 | $330,400 | +4.8% | n/a | n/a |
| Bemidji | 10 | $242,100 | +8.5% | n/a | n/a |
| Winona | 8 | $313,300 | +2.9% | n/a | n/a |
| Fargo | 7 | $310,400 | +3.8% | n/a | n/a |
| Owatonna | 4 | $288,400 | +3.6% | n/a | n/a |
| Fergus Falls | 25 | $327,000 | +7.8% | n/a | n/a |
| Grand Forks | 16 | $235,900 | +6.5% | n/a | n/a |
Show all 27 metro areas
| Metro area | ZIP codes | Home value | 12 months | Monthly rent | Gross yield |
|---|---|---|---|---|---|
| Minneapolis | 201 | $380,300 | +2.0% | $1,800 | 5.5% |
| Rochester | 35 | $334,500 | +3.4% | $1,600 | 4.8% |
| St. Cloud | 26 | $332,200 | +4.3% | $1,200 | 5.1% |
| Faribault | 8 | $383,500 | +2.8% | n/a | n/a |
| Duluth | 61 | $226,100 | +4.4% | $1,400 | 6.7% |
| Brainerd | 27 | $334,900 | +3.6% | n/a | n/a |
| Mankato | 22 | $260,900 | +4.5% | $1,200 | 4.8% |
| Austin | 12 | $261,300 | +3.8% | n/a | n/a |
| Alexandria | 11 | $330,400 | +4.8% | n/a | n/a |
| Bemidji | 10 | $242,100 | +8.5% | n/a | n/a |
| Winona | 8 | $313,300 | +2.9% | n/a | n/a |
| Fargo | 7 | $310,400 | +3.8% | n/a | n/a |
| Owatonna | 4 | $288,400 | +3.6% | n/a | n/a |
| Fergus Falls | 25 | $327,000 | +7.8% | n/a | n/a |
| Grand Forks | 16 | $235,900 | +6.5% | n/a | n/a |
| Grand Rapids | 15 | $243,100 | −0.2% | n/a | n/a |
| Albert Lea | 12 | $222,500 | +6.7% | n/a | n/a |
| Fairmont | 12 | $216,000 | +6.6% | n/a | n/a |
| Willmar | 11 | $286,100 | +3.0% | n/a | n/a |
| Marshall | 10 | $229,000 | +9.5% | n/a | n/a |
| Red Wing | 9 | $336,600 | +3.5% | n/a | n/a |
| Hutchinson | 8 | $300,000 | +3.4% | n/a | n/a |
| New Ulm | 7 | $254,600 | +7.0% | n/a | n/a |
| La Crosse | 6 | $324,300 | +3.9% | n/a | n/a |
| Worthington | 6 | $250,200 | +7.0% | n/a | n/a |
| Wahpeton | 2 | $234,800 | +4.9% | n/a | n/a |
| Brookings | 1 | $238,000 | +10.4% | n/a | n/a |
Home values by county
Of Minnesota's 87 counties, Cook County has the highest typical home value, $443,500, and Kittson County the lowest, $150,900. Among counties with at least five ZIP codes, Pipestone County has risen most over the year, up 13.6%, and Ramsey County has moved least, down 0.3%.
Show all 87 counties
| County | ZIP codes | Home value | 12 months | Monthly rent | Gross yield |
|---|---|---|---|---|---|
| Cook County | 4 | $443,500 | +5.3% | n/a | n/a |
| Washington County | 17 | $440,400 | +3.1% | $1,900 | 5.6% |
| Scott County | 9 | $435,400 | +1.4% | $2,000 | 5.2% |
| Carver County | 12 | $423,300 | +3.2% | $2,100 | 5.0% |
| Chisago County | 9 | $395,300 | +2.3% | n/a | n/a |
| Dakota County | 18 | $392,700 | +2.3% | $1,700 | 5.1% |
| Crow Wing County | 14 | $392,200 | +4.2% | n/a | n/a |
| Rice County | 8 | $383,500 | +2.8% | n/a | n/a |
| Sherburne County | 7 | $379,900 | +2.1% | $1,500 | 5.2% |
| Hennepin County | 62 | $379,500 | 0.0% | $1,800 | 5.7% |
| Anoka County | 13 | $379,400 | +1.8% | $1,700 | 6.0% |
| Wright County | 14 | $378,700 | +2.0% | $1,700 | 5.3% |
| Olmsted County | 11 | $362,000 | +4.7% | $1,600 | 5.4% |
| Becker County | 10 | $360,200 | +5.1% | n/a | n/a |
| Wabasha County | 8 | $358,800 | +8.0% | n/a | n/a |
| Isanti County | 4 | $356,800 | +5.5% | n/a | n/a |
| Morrison County | 9 | $355,500 | +5.4% | n/a | n/a |
| Otter Tail County | 18 | $353,700 | +7.8% | n/a | n/a |
| Benton County | 4 | $349,100 | +4.2% | n/a | n/a |
| Le Sueur County | 8 | $341,200 | +2.3% | n/a | n/a |
| Goodhue County | 9 | $336,600 | +3.5% | n/a | n/a |
| Douglas County | 9 | $335,000 | +4.0% | n/a | n/a |
| Stearns County | 19 | $333,700 | +4.1% | $1,200 | 5.3% |
| Hubbard County | 3 | $327,900 | +4.0% | n/a | n/a |
| Pope County | 6 | $327,000 | +5.0% | n/a | n/a |
| Houston County | 6 | $324,300 | +3.9% | n/a | n/a |
| Nicollet County | 5 | $323,900 | +4.7% | n/a | n/a |
| Dodge County | 6 | $317,700 | +7.9% | n/a | n/a |
| Winona County | 8 | $313,300 | +2.9% | n/a | n/a |
| Cass County | 11 | $313,100 | +3.5% | n/a | n/a |
| Mille Lacs County | 4 | $311,500 | +2.2% | n/a | n/a |
| Clay County | 7 | $310,400 | +3.8% | n/a | n/a |
| Ramsey County | 19 | $303,100 | −0.3% | $1,500 | 5.6% |
| McLeod County | 8 | $300,000 | +3.4% | n/a | n/a |
| Steele County | 3 | $298,800 | +2.2% | n/a | n/a |
| Kandiyohi County | 10 | $295,700 | +3.2% | n/a | n/a |
| Meeker County | 7 | $288,100 | +4.6% | n/a | n/a |
| Blue Earth County | 9 | $288,000 | +3.5% | n/a | n/a |
| Carlton County | 10 | $285,200 | +4.4% | n/a | n/a |
| Fillmore County | 10 | $278,700 | +2.5% | n/a | n/a |
| Kanabec County | 3 | $278,400 | +4.9% | n/a | n/a |
| Aitkin County | 7 | $270,300 | +4.0% | n/a | n/a |
| Sibley County | 6 | $268,600 | +5.4% | n/a | n/a |
| Brown County | 5 | $266,800 | +10.2% | n/a | n/a |
| Mower County | 12 | $261,300 | +3.8% | n/a | n/a |
| Todd County | 8 | $256,900 | +5.8% | n/a | n/a |
| Polk County | 12 | $255,600 | +4.6% | n/a | n/a |
| Pine County | 11 | $253,200 | +5.1% | n/a | n/a |
| Nobles County | 3 | $251,100 | +6.8% | n/a | n/a |
| Rock County | 2 | $250,600 | +4.7% | n/a | n/a |
| Lyon County | 7 | $250,400 | +8.4% | n/a | n/a |
| Waseca County | 5 | $250,200 | +1.8% | n/a | n/a |
| Wadena County | 5 | $249,100 | +3.1% | n/a | n/a |
| Clearwater County | 4 | $247,500 | +10.1% | n/a | n/a |
| Itasca County | 15 | $243,100 | −0.2% | n/a | n/a |
| Grant County | 6 | $242,100 | +9.1% | n/a | n/a |
| Lake County | 7 | $239,800 | +4.8% | n/a | n/a |
| Beltrami County | 9 | $235,100 | +8.0% | n/a | n/a |
| Wilkin County | 2 | $234,800 | +4.9% | n/a | n/a |
| Chippewa County | 3 | $234,700 | +8.0% | n/a | n/a |
| Murray County | 4 | $234,500 | +8.1% | n/a | n/a |
| Stevens County | 2 | $225,600 | +6.6% | n/a | n/a |
| Pipestone County | 6 | $225,300 | +13.6% | n/a | n/a |
| Freeborn County | 11 | $224,800 | +6.0% | n/a | n/a |
| Martin County | 9 | $223,300 | +8.3% | n/a | n/a |
| Red Lake County | 4 | $220,600 | +8.1% | n/a | n/a |
| Saint Louis County | 39 | $216,700 | +5.8% | $1,400 | 6.7% |
| Big Stone County | 4 | $214,600 | +12.3% | n/a | n/a |
| Lake of the Woods County | 2 | $214,600 | +4.1% | n/a | n/a |
| Roseau County | 6 | $214,500 | +0.6% | n/a | n/a |
| Lincoln County | 3 | $212,800 | +5.6% | n/a | n/a |
| Swift County | 4 | $212,000 | +5.9% | n/a | n/a |
| Jackson County | 4 | $199,000 | +0.3% | n/a | n/a |
| Lac Qui Parle County | 3 | $193,600 | +13.1% | n/a | n/a |
| Yellow Medicine County | 7 | $189,200 | +6.4% | n/a | n/a |
| Mahnomen County | 2 | $188,700 | +6.1% | n/a | n/a |
| Pennington County | 1 | $188,300 | −2.9% | n/a | n/a |
| Redwood County | 5 | $187,600 | +12.4% | n/a | n/a |
| Renville County | 10 | $186,000 | +5.7% | n/a | n/a |
| Watonwan County | 4 | $185,900 | +4.7% | n/a | n/a |
| Marshall County | 2 | $183,200 | +4.8% | n/a | n/a |
| Faribault County | 9 | $182,300 | +3.9% | n/a | n/a |
| Norman County | 3 | $175,400 | +7.8% | n/a | n/a |
| Traverse County | 2 | $172,400 | +12.8% | n/a | n/a |
| Cottonwood County | 4 | $168,200 | +0.2% | n/a | n/a |
| Koochiching County | 3 | $167,800 | +3.4% | n/a | n/a |
| Kittson County | 2 | $150,900 | +6.3% | n/a | n/a |
Where prices are rising fastest
The ten ZIP codes with the strongest change in home values over the past twelve months. Among the larger half of Minnesota's ZIP codes by population, so that places with only a handful of sales a year do not crowd the list.
| ZIP code | Area | Home value | 12 months | 5 yrs, per year |
|---|---|---|---|---|
| 56621 | Bagley | $245,900 | +11.2% | +7.1% |
| 56085 | Sleepy Eye | $266,800 | +10.2% | +7.5% |
| 56087 | Springfield | $214,800 | +10.1% | +7.9% |
| 56358 | Ogilvie | $291,800 | +9.9% | +5.5% |
| 56277 | Olivia | $197,400 | +9.5% | +4.3% |
| 56175 | Tracy | $165,300 | +9.1% | +3.3% |
| 55741 | Gilbert | $186,300 | +8.8% | +4.4% |
| 55325 | Dassel | $356,000 | +8.0% | +4.7% |
| 55940 | Hayfield | $324,000 | +7.9% | +5.0% |
| 55779 | Saginaw | $353,400 | +7.9% | +5.4% |
Where prices are falling
Across Minnesota, 30 ZIP codes are below where they were a year ago. These are the ten largest declines among the larger half by population.
| ZIP code | Area | Home value | 12 months | From its peak |
|---|---|---|---|---|
| 55415 | Minneapolis | $319,700 | −15.5% | −16.3% |
| 55101 | Saint Paul | $169,800 | −11.4% | −13.0% |
| 55435 | Edina | $209,800 | −8.1% | −19.0% |
| 55425 | Bloomington | $325,200 | −7.6% | −8.5% |
| 55403 | Minneapolis | $187,900 | −7.4% | −23.8% |
| 55454 | Minneapolis | $149,300 | −5.2% | −13.8% |
| 55401 | Minneapolis | $291,400 | −3.7% | −8.3% |
| 55413 | Minneapolis | $320,700 | −3.4% | −5.2% |
| 56701 | Thief River Falls | $188,300 | −2.9% | −12.3% |
| 56159 | Mountain Lake | $156,000 | −2.6% | −3.3% |
Best rental yields
Gross yield is a year's rent divided by the home value, before costs. These are the highest yields among the larger ZIP codes with rent data.
| ZIP code | Area | Home value | Monthly rent | Gross yield | Rent, 12 months |
|---|---|---|---|---|---|
| 55435 | Edina | $209,800 | $2,000 | 11.2% | +4.2% |
| 55101 | Saint Paul | $169,800 | $1,600 | 11.1% | +2.9% |
| 55444 | Brooklyn Park | $335,700 | $2,900 | 10.3% | n/a |
| 55301 | Albertville | $380,300 | $3,200 | 10.0% | n/a |
| 55403 | Minneapolis | $187,900 | $1,400 | 9.2% | +1.7% |
| 55412 | Minneapolis | $234,300 | $1,800 | 9.2% | +3.0% |
| 55411 | Minneapolis | $241,900 | $1,800 | 9.1% | +4.6% |
| 55792 | Virginia | $143,200 | $1,000 | 8.5% | n/a |
| 55401 | Minneapolis | $291,400 | $2,000 | 8.3% | +4.4% |
| 56701 | Thief River Falls | $188,300 | $1,200 | 7.8% | n/a |
Most affordable against local incomes
Home value divided by the median household income of the people who live in the ZIP code. A lower multiple means homes cost fewer years of local earnings. The state typical is 3.7×.
| ZIP code | Area | Home value | Median income | Price to income |
|---|---|---|---|---|
| 56159 | Mountain Lake | $156,000 | $71,600 | 2.2× |
| 56175 | Tracy | $165,300 | $73,800 | 2.2× |
| 56101 | Windom | $175,500 | $77,100 | 2.3× |
| 56701 | Thief River Falls | $188,300 | $78,600 | 2.4× |
| 56649 | International Falls | $157,600 | $64,700 | 2.4× |
| 56164 | Flandreau | $187,900 | $74,200 | 2.5× |
| 56013 | Blue Earth | $182,300 | $71,600 | 2.5× |
| 55415 | Minneapolis | $319,700 | $124,900 | 2.6× |
| 55401 | Minneapolis | $291,400 | $113,500 | 2.6× |
| 55719 | Chisholm | $138,300 | $53,600 | 2.6× |
Who is moving in
Household moves between the 2022 and 2023 tax years, measured county by county. Summed across its counties, Minnesota lost 10,486 households on net, and the households that left took $2.9bn more income than the arrivals brought. Of its 87 counties, 19 gained households. The tables show the largest gains and losses; the last column is how much more, or less, the average arriving household earned than the average household that left.
| County | Net households | Net income moved | Arrivals vs leavers, per household |
|---|---|---|---|
| Dakota County | +1,384 | +$130m | +$908 |
| Wright County | +1,372 | +$114m | +$483 |
| Washington County | +966 | +$15m | −$3,568 |
| Anoka County | +708 | −$55m | −$4,344 |
| Crow Wing County | +322 | +$80m | +$15,563 |
| Cass County | +200 | +$35m | +$16,579 |
| Carver County | +198 | +$119m | +$14,198 |
| Chisago County | +164 | +$31m | +$5,717 |
| County | Net households | Net income moved | Arrivals vs leavers, per household |
|---|---|---|---|
| Hennepin County | −4,136 | −$2.2bn | −$23,429 |
| Ramsey County | −2,950 | −$672m | −$11,833 |
| Wright County | −768 | −$128m | −$9,149 |
| Blue Earth County | −640 | −$49m | −$3,588 |
| Rice County | −474 | −$23m | +$2,507 |
What CITIZEN sees
CITIZEN grades every US ZIP code on one national scale, reading price and its direction, rent, local earnings, resident equity and where buyers and their money are arriving from. Grades are ranks: an A is the top 10% of the country, an F the bottom 10%. In Minnesota, 29 of 715 ZIP codes grade A and 18 grade F. Which ones, and why, is in CITIZEN.
Questions
Are home prices going up or down in Minnesota?
Up. Home values across Minnesota are up 3.4% over the past twelve months, to a typical $301K, and 685 of its 715 ZIP codes are higher than a year ago.
What is the typical home value in Minnesota?
$300,600 across Minnesota's 715 ZIP codes, as of August 2026. Among its metro areas, the typical home ranges from $216,000 in Fairmont to $383,500 in Faribault.
What is the cheapest place to buy a house in Minnesota?
Among Minnesota's metro areas with at least eight ZIP codes, Fairmont has the lowest typical home value, $216,000. Among the larger half of its ZIP codes, 55719 in Chisholm is the cheapest, at $138,300.
Where are home prices rising fastest in Minnesota?
56621 in Bagley (+11.2%), 56085 in Sleepy Eye (+10.2%) and 56087 in Springfield (+10.1%), over the past twelve months, among the larger half of its ZIP codes.
What is the typical rent in Minnesota?
About $1,700 a month, across the 153 ZIP codes with rent data, up 3.3% over the past year.
Are people moving to Minnesota?
On balance, no. Between the 2022 and 2023 tax years, Minnesota lost 10,486 households on net from moves, summed across its counties.
Other states
Sources and method
- Source: CITIZEN, Lualdi Advisors' US housing market intelligence. Home values and rents through August 2026; household incomes 2020 to 2024; migration for tax years 2022 to 2023.
- State, metro and county figures are medians across their ZIP codes, not a separate index. The two-year chart is the median ZIP value for each month. Grades and scores are CITIZEN's own.
- ZIP code lists use the larger half of the state's ZIP codes by population.
- Updated monthly. Last updated 2026-10-14.
