Home Values

Minneapolis-St Paul Metro 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

$209,000

  • 6.9% 1-year change
  • 1.6% 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 metro relative to other metros across the US. A particular metro may be identified as a good market for buyers in a national market favorable to sellers overall. Learn more

Warm

Buyers' Market
Sellers' Market

The median home value in Minneapolis-St Paul Metro is $209,000. Minneapolis-St Paul Metro home values have gone up 6.9% over the past year and Zillow predicts they will rise 1.6% within the next year. The median list price per square foot in Minneapolis-St Paul Metro is $164, which is higher than the Minnesota average of $147. The median price of homes currently listed in Minneapolis-St Paul Metro is $244,900 while the median price of homes that sold is $223,365. The median rent price in Minneapolis-St Paul Metro is $1,300, which is higher than the Minnesota median of $1,290.

Foreclosures will be a factor impacting home values in the next several years. In Minneapolis-St Paul Metro 3.3 homes are foreclosed (per 10,000). This is greater than the Minnesota value of 3.0 and also lower than the national value of 4.3

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-St Paul Metro is 3.2%, which is lower than the national value of 6.9%. 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-St Paul Metro homeowners underwater on their mortgage is 17.9%, which is higher than Minnesota at 16.5%.

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Relative ZHVI
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Minneapolis-St Paul Metro Market Overview

Data through Aug 31, 2014
  • $209,000 ZHVI
  • 1.6% 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
    (Aug 31, 2015)
  • $244,900 Median listing price
  • $223,365 Median sale price
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Minneapolis-St Paul Metro Market Health

Data through Aug 31, 2014
  • 3.8/10 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 recent data Average days on Zillow
  • 17.9% Homes with negative equity (17.0% US Avg) (Jun 30, 2014)
  • 3.2% Delinquent on mortgage (6.9% US Avg) (Jun 30, 2014)

Homes foreclosed (per 10,000)

3.3 homes Minneapolis-St Paul Metro
3 homes Minnesota
4.3 homes United States
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Cities in Minneapolis-St Paul Metro

Name Median ZHVI
Plymouth $299,300
Woodbury $277,400
Maple Grove $243,800
Name Median ZHVI
Eagan $231,700
Bloomington $212,500
Minneapolis $194,500
Name Median ZHVI
Brooklyn Park $177,400
Saint Paul $164,200
Saint Cloud $127,300

Listings & Sales

Data through Aug 31, 2014
  • $164 Median list price / sq ft
  • $166 Median sale price / sq ft
  • 45.6% Listings with price cut
25.0%
Sold below listing
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Minneapolis-St Paul Metro Rentals

Data through Aug 31, 2014
  • Zillow Rent Index

  • $1,515 Minneapolis-St Paul Metro
    $1,369 Minnesota
    $1,328 United States

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

  • 2.8 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Jun 30, 2014)
  • $1,300 Rent list price
  • $1.20 Rent list price / sq ft
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