Minnesota housing market: home prices by city and forecast
Minnesota home prices: the Zillow Home Value Index put the state's typical home at $348,778 in September 2026, up 2.3% from a year earlier.
- Value of a typical home
- $348,778September 2026, Zillow ZHVI
- Change over 12 months
- +2.3%US +1.2%
- Change over 10 years
- +65.7%US +77.4%
- Growth multiple from 2000
- ×2.79US ×2.99
- Price against income
- 4.0. The median income is $87,117.
Minnesota places 26th for typical home value and 21st for 12-month change among the 50 states and DC. Since 2000, it ranks 25th of 47 for growth, while its price-to-income rank is 33rd; rankings run from highest to lowest.
Minnesota home prices since 2000
Minnesota's typical home increased from $125,157 in January 2000 to $348,778. September 2026 marked its highest month, also at $348,778.
| Decade | 0 | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 |
|---|---|---|---|---|---|---|---|---|---|---|
| 2000s | $130,752 | $148,433 | $164,470 | $178,922 | $193,486 | $207,217 | $213,773 | $210,834 | $196,331 | $179,056 |
| 2010s | $173,915 | $159,899 | $158,212 | $173,520 | $186,618 | $195,590 | $208,624 | $223,153 | $238,273 | $250,787 |
| 2020s | $264,969 | $297,301 | $323,610 | $326,043 | $332,086 | $340,077 |
Minnesota home prices since 1975: the FHFA index
FHFA's repeat-sales index placed Minnesota at 1027 in 2025 (1975 = 100). During Q2 2026, it had risen 3.0% over one year.
Owners reported Minnesota at $3,024 in the 1940 Census of Housing and $122,400 in 2000.
| Census year | Minnesota median value | US median value |
|---|---|---|
| 1940 | $3,024 | $2,938 |
| 1950 | $7,806 | $7,354 |
| 1960 | $12,800 | $11,900 |
| 1970 | $18,000 | $17,000 |
| 1980 | $53,100 | $47,200 |
| 1990 | $74,000 | $79,100 |
| 2000 | $122,400 | $119,600 |
These values include no inflation adjustment. Census of Housing tables
Home prices in Minnesota by city
Pages are available for 4 cities, listed from largest to smallest:
| City | Value of a typical home | Change over 12 months | Growth multiple from 2000 |
|---|---|---|---|
| Minneapolis | $328,351 | +0.7% | ×2.95 |
| St. Paul | $291,209 | +0.8% | ×2.76 |
| Rochester, Minnesota | $340,589 | +3.5% | ×2.81 |
| Duluth | $296,120 | +4.6% | |
| Bloomington | $360,034 | +1.0% | |
| Brooklyn Park | $345,292 | +0.5% | |
| Plymouth | $505,176 | +1.8% | |
| Woodbury | $460,987 | +2.2% | |
| Lakeville | $484,669 | +0.9% | |
| Maple Grove | $423,579 | +1.3% | |
| Saint Cloud | $256,326 | +1.3% | |
| Blaine | $381,873 | +1.1% | |
| Eagan | $398,150 | +1.6% | |
| Burnsville | $364,909 | +2.1% | |
| Eden Prairie | $499,728 | +2.5% |
Source: Zillow Home Value Index, September 2026.
Minnesota price outlook: metro forecasts
Zillow's 12-month forecasts span +1.6% through +4.1%, from September 2026 for 3 Minnesota metros:
| Metro | Next 3 months | Next 12 months |
|---|---|---|
| Minneapolis, MN | +0.8% | +1.6% |
| Rochester, MN | +1.2% | +2.8% |
| Duluth, MN | +1.1% | +4.1% |
This is Zillow's estimate, not investment advice.
Living costs in Minnesota
Minnesota's price level stands at 98.6, compared with US 100. The breakdown is 91.3 for housing, 100.5 for goods, 90.8 for utilities, and 100.2 for other services (BEA). Median household income is $87,117, while median gross rent is $1,291 a month (Census ACS 2024). Some 72% of homes are owner-occupied, and the median year built is 1979.
Every state is covered here: living costs across states; for cities, see Minneapolis, Rochester, Minnesota, Duluth.
How to read this chart
The first chart shows dollar values and reaches its peak of $348,778 in September 2026. The second chart uses an index. Its Minnesota line ends at 1027, meaning local prices reached 10.3 times their 1975 level. Both figures are shown without inflation adjustments.