Home Values

Minneapolis Home Prices & Values

Zillow Home Value Index

The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

$198,100

  • 3.8% 1-year change
  • 1.2% 1-year forecast

Market Temperature

Based on three metrics—sale-to-list price ratio, the prevalence of price cuts on home listings, and time-on-market—the market temperature provides information on the current balance of bargaining power between buyers and sellers in this city relative to other cities in the same metropolitan area. A particular city may be identified as a good market for buyers in a metro market favorable to sellers overall. Learn more

Neutral

Buyers' Market
Sellers' Market

The median home value in Minneapolis is $198,100. Minneapolis home values have gone up 3.8% over the past year and Zillow predicts they will rise 1.2% within the next year. The median list price per square foot in Minneapolis is $191, which is higher than the Minneapolis-St Paul Metro average of $164. The median price of homes currently listed in Minneapolis is $209,900 while the median price of homes that sold is $216,610. The median rent price in Minneapolis is $1,320, which is higher than the Minneapolis-St Paul Metro median of $1,295.

Foreclosures will be a factor impacting home values in the next several years. In Minneapolis 6.0 homes are foreclosed (per 10,000). This is greater than the Minneapolis-St Paul Metro value of 3.7 and also greater than the national value of 4.2

Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in Minneapolis is 3.1%, which is lower than the national value of 6.4%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of Minneapolis homeowners underwater on their mortgage is 16.6%, which is higher than Minneapolis-St Paul Metro at 15.6%.

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Relative ZHVI
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Minneapolis Market Overview

Data through Nov 30, 2014
  • $198,100 ZHVI
  • 1.2% 1-yr forecast
    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more
    (Nov 30, 2015)
  • $209,900 Median listing price
  • $216,610 Median sale price
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Minneapolis Market Health

Data through Nov 30, 2014
  • 2.8/10 Less healthy
    The Market Health Index illustrates the current health of a region's housing market relative to other markets across the country. The Market Health Index is based on up to 10 metrics including those capturing the past and projected evolution of home values, the prevalence of foreclosures, foreclosure re-sales, negative equity and delinquency, as well as whether homes are currently selling faster or slower than in the past.
  • No data Average days on Zillow
  • 16.6% Homes with negative equity (16.9% US Avg) (Sep 30, 2014)
  • 3.1% Delinquent on mortgage (6.4% US Avg) (Sep 30, 2014)

Homes foreclosed (per 10,000)

6 homes Minneapolis
3.7 homes Minneapolis-St Paul Metro
4.2 homes United States
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Neighborhoods in Minneapolis

Name Median ZHVI
Elliot Park $241,200
Loring Park $196,300
Downtown West $176,500
Name Median ZHVI
Powderhorn Park $161,900
Central $157,100
Whittier $142,000
Name Median ZHVI
Stevens Square $124,100
East Phillips $119,800
Midtown Phillips $114,300

Listings & Sales

Data through Nov 30, 2014
  • $191 Median list price / sq ft
  • $191 Median sale price / sq ft
  • No data Listings with price cut
21.5%
Sold below listing
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Minneapolis Rentals

Data through Nov 30, 2014
  • Zillow Rent Index

  • $1,482 Minneapolis
    $1,506 Minneapolis-St Paul Metro
    $1,342 United States

    The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more

  • 2.9 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Jun 30, 2014)
  • $1,320 Rent list price
  • $1.56 Rent list price / sq ft
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