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

$212,600

  • 5.9% 1-year change
  • 2.1% 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 $212,600. Minneapolis-St Paul Metro home values have gone up 5.9% over the past year and Zillow predicts they will rise 2.1% within the next year. The median list price per square foot in Minneapolis-St Paul Metro is $163, which is higher than the Minnesota average of $144. The median price of homes currently listed in Minneapolis-St Paul Metro is $245,000 while the median price of homes that sold is $214,650. The median rent price in Minneapolis-St Paul Metro is $1,275, which is higher than the Minnesota median of $1,225.

Foreclosures will be a factor impacting home values in the next several years. In Minneapolis-St Paul Metro 4.0 homes are foreclosed (per 10,000). This is greater than the Minnesota value of 3.6 and also the same as the national value of 4.0

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 6.4%. 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-St Paul Metro homeowners underwater on their mortgage is 15.6%, which is higher than Minnesota at 15.2%.

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Relative ZHVI
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Minneapolis-St Paul Metro Market Overview

Data through Jan 31, 2015
  • $212,600 ZHVI
  • 2.1% 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
    (Jan 31, 2016)
  • $245,000 Median listing price
  • $214,650 Median sale price
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Minneapolis-St Paul Metro Market Health

Data through Jan 31, 2015
  • 5.1/10 Stable
    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.
    (Dec 31, 2014)
  • 95 Average days on Zillow (Dec 31, 2014)
  • 15.6% Homes with negative equity (16.9% US Avg) (Sep 30, 2014)
  • 3.2% Delinquent on mortgage (6.4% US Avg) (Sep 30, 2014)

Homes foreclosed (per 10,000)

4 homes Minneapolis-St Paul Metro
3.6 homes Minnesota
4 homes United States
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Cities in Minneapolis-St Paul Metro

Name Median ZHVI
Plymouth $306,000
Woodbury $284,300
Maple Grove $245,700
Name Median ZHVI
Eagan $243,600
Bloomington $216,800
Minneapolis $201,300
Name Median ZHVI
Brooklyn Park $178,300
Coon Rapids $173,300
Saint Paul $164,300

Listings & Sales

Data through Jan 31, 2015
  • $163 Median list price / sq ft
  • $162 Median sale price / sq ft
  • No data Listings with price cut
26.0%
Sold below listing
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Minneapolis-St Paul Metro Rentals

Data through Jan 31, 2015
  • Zillow Rent Index

  • $1,502 Minneapolis-St Paul Metro
    $1,351 Minnesota
    $1,350 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)
  • $1,275 Rent list price
  • $1.19 Rent list price / sq ft
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