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Minnesota.

26th most expensive state. Typical home $348,778 (+2.3% in a year), estimated payment $1,922 a month. As of Sep 2026.

What it costs per month · Minnesota $1,831/mo

to buy the typical home at today's mortgage rate — +$893 (+95%) since Jan 2020.

What the home itself did
1 year
Up $7,811 +2%
$340,967$348,778 since Sep 2025
5 years
Up $43,112 +14%
$305,666$348,778 since Sep 2021
10 years
Up $138,266 +66%
$210,512$348,778 since Sep 2016

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.

$500 $1,000 $1,500 $2,000 2002 2006 2010 2014 2018 2022 2026 Minnesota $1,831 United States $1,922
$500 $1,000 $1,500 $2,000 2002 2010 2018 2026
  • Minnesota$1,831
  • United States$1,922

At the last five years' pace, a typical home here doubles in price every 26 years.

Typical home values in Minnesota rose 2.3% over the past year — faster than the nation's +1.2%.

Buying the typical Minnesota home now takes 26% of the median household income ($89,062/yr, ACS 2020–2024) — the standard affordability line is 30%.

Share of median income needed to buy

Monthly payment for the typical home against the local median household income. Income is an annual survey, stepped — the saw-teeth are survey years, not markets.

15% 20% 25% 30% 2011 2014 2017 2020 2023 2026 Minnesota 24.67% United States 28.57%
15% 20% 25% 30% 2014 2020 2026
  • Minnesota24.67%
  • United States28.57%

Minnesota home values

Zillow Home Value Index against the national figure. Mid-tier homes, smoothed and seasonally adjusted.

$150,000 $200,000 $250,000 $300,000 $350,000 2002 2006 2010 2014 2018 2022 2026 Minnesota $348,778 United States $366,157
$150,000 $200,000 $250,000 $300,000 $350,000 2002 2010 2018 2026
  • Minnesota$348,778
  • United States$366,157

Metros in Minnesota

Metros Counties Cities

Largest first, by population. Zillow publishes rent for fewer metros than home values, so a dash means no series — not a market at zero.

# Metro Rent 1-yr Δ Home value 1-yr Δ
1 Minneapolis $1,736 +3.5% $387,807 +1.7%
2 Brainerd $1,368 +2.3% $358,249 +3.2%
3 Faribault $1,579 +4.7% $350,912 +2.2%
4 Alexandria $1,527 — $347,714 +3.3%
5 Rochester $1,590 +1.9% $338,327 +3.8%
6 Fergus Falls $981 — $334,667 +5.8%
7 Red Wing $1,348 — $321,176 +1.6%
8 St. Cloud $1,224 +5.4% $310,763 +2.4%
9 Mankato $1,236 +4.6% $305,707 +2.5%
10 Hutchinson $1,370 — $297,248 +2.3%
11 Owatonna $1,068 — $293,320 +2.1%
12 Willmar $909 — $285,240 +1.9%
13 Grand Forks $1,132 +3.7% $283,094 +7.3%
14 Winona $1,093 +7.1% $282,829 +3.9%
15 Duluth $1,329 +3.8% $263,835 +5.2%
16 Bemidji $1,099 +5.8% $263,130 +2.8%
17 New Ulm — — $247,203 +7.2%
18 Worthington — — $246,416 +6.5%
19 Marshall — — $226,823 +8.6%
20 Austin $1,161 +9.0% $201,983 +2.9%
21 Albert Lea $1,054 — $197,426 +5.5%
22 Grand Rapids — — — —
23 Fairmont — — — —

Go deeper: every zip in Minnesota.