55031
Farmington, Minnesota.
Farmington, Dakota County, MN · Minneapolis-St. Paul-Bloomington, MN-WI metro · population 1,881
to buy the typical home at today's mortgage rate — +$1,207 (+97%) since Jan 2020.
- 1 year
- Up $21,339 +5%
- $445,186$466,526 since Sep 2025
- 5 years
- Up $60,073 +15%
- $406,452$466,526 since Sep 2021
Monthly payment to buy the typical home
Home value × that month's 30-year mortgage rate, 20% down, principal and interest. This is the line households feel: prices and rates compound each other.
- 55031$2,449
- United States$1,922
At the last five years' pace, a typical home here doubles in price every 25 years.
Typical home values in zip 55031 rose 4.8% over the past year — faster than the nation's +1.2%.
Zillow also publishes an index for the city itself: Farmington, MN — measured over the city limits, which is a different area from this zip.
Typical home value — 55031
Mid-tier homes, smoothed and seasonally adjusted.
- 55031$466,526
- Minneapolis$387,807
- United States$366,157
Within 20 miles
| Miles sorted ascending, activate to sort descending | Zip activate to sort by Zip | City activate to sort by City | Population activate to sort by Population | Rent activate to sort by Rent | Home value activate to sort by Home value |
|---|---|---|---|---|---|
| 4.5 | 55085 | Vermillion | 371 | — | $344,455 |
| 4.9 | 55065 | Randolph | 1,224 | — | $473,610 |
| 8.5 | 55024 | Farmington | 37,287 | $2,089 | $398,575 |
| 8.9 | 55033 | Hastings | 29,674 | $1,630 | $384,069 |
| 9.9 | 55009 | Cannon Falls | 8,127 | — | $373,847 |
| 10.2 | 55068 | Rosemount | 33,119 | $2,027 | $407,070 |
| 13.0 | 55089 | Welch | 1,612 | — | $474,872 |
| 13.1 | 55018 | Dennison | 969 | — | $419,982 |
| 14.0 | 55057 | Northfield | 25,650 | $1,756 | $392,809 |
| 14.6 | 55016 | Cottage Grove | 40,695 | $1,827 | $397,202 |
| 14.9 | 55071 | Saint Paul Park | 5,719 | — | $316,697 |
| 14.9 | 55124 | Saint Paul | 55,658 | $1,985 | $374,882 |
| 15.5 | 55044 | Lakeville | 64,762 | $2,108 | $512,518 |
| 15.5 | 54021 | Prescott | 7,346 | — | $414,720 |
| 15.6 | 55077 | Inver Grove Heights | 14,503 | $1,842 | $557,150 |
| 15.9 | 55076 | Inver Grove Heights | 21,374 | $1,704 | $327,271 |
| 16.0 | 55123 | Saint Paul | 26,501 | $1,771 | $468,651 |
| 17.6 | 55122 | Saint Paul | 32,261 | $1,694 | $353,263 |
| 18.1 | 55306 | Burnsville | 16,830 | $1,420 | $411,940 |
| 18.5 | 55055 | Newport | 4,754 | $1,320 | $348,136 |
| 18.5 | 55053 | Nerstrand | 995 | — | $424,985 |
| 19.0 | 55121 | Saint Paul | 9,198 | $1,496 | $334,578 |
| 19.1 | 55054 | Elko New Market | 2,831 | — | $432,799 |
| 19.1 | 55337 | Burnsville | 47,633 | $1,505 | $350,753 |
| 19.4 | 55019 | Dundas | 2,305 | — | $393,679 |
| 19.6 | 54014 | Hager City | 2,026 | — | $350,275 |
| 19.7 | 55075 | South Saint Paul | 20,714 | $1,534 | $298,218 |
Coordinates and population from SimpleMaps US Zips (Basic). Rent and home values from Zillow Research.