Minneapolis, Minnesota.
Typical home $328,351 (+0.7% in a year), asking rent $1,747 (+3.2%). Minneapolis-St. Paul-Bloomington, MN-WI metro.
to buy the typical home at today's mortgage rate — +$696 (+68%) since Jan 2020.
- 1 year
- Up $2,326 +1%
- $326,024$328,351 since Sep 2025
- 5 years
- Up $12,946 +4%
- $315,405$328,351 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.
- Minneapolis$1,723
- Minnesota$1,831
- United States$1,922
At the last five years' pace, a typical home here doubles in price every 86 years.
Typical home values in Minneapolis, MN rose 0.7% over the past year — slower than the nation's +1.2%.
Asking rents in Minneapolis, MN rose 3.2% over the past year — faster than the nation's +2.7%.
Owning the typical home in Minneapolis runs $640/mo more than renting one. The gap peaked at $827 in Oct 2023.
That is $2,387 a month against $1,747 rent: a $1,723 mortgage payment, plus $312 property tax and $352 insurance & upkeep.
Owning vs renting — Minneapolis
The owning line is the typical home's monthly payment at that month's rate, plus property tax and insurance & upkeep; the renting line is the typical asking rent; the grey line is the mortgage payment on its own. Same homes, same months, both ways of paying for a roof.
- Owning all in$2,387
- Renting$1,747
- Mortgage only$1,723
Property tax · $312/mo 1.14% of value a year — the ACS 2020-2024 median bill over the median home value for Hennepin County, MN
Insurance & upkeep · $352/mo insurance, maintenance and repairs together, from the BLS Consumer Expenditure Survey — the national figure for mortgaged homeowners, scaled to this market's home value. BLS publishes the three bundled and they cannot be split.
Both are priced off the same month's home value, so they rise with the market. Neither is a quote — a specific home's bill depends on its assessment, its age and its insurer.
Living in Minneapolis, Hennepin County, Minnesota
Minneapolis is a city of 429,954 people in Hennepin County. Half its households earn more than $80,846 a year and half less, against $97,653 across Hennepin County; 16% of its people live below the poverty line. 48% of its homes are lived in by their owners and 52% are rented. Unemployment in Minneapolis was 4.6% in August 2026, and Hennepin County had 0.2% more jobs in 2025 than the year before. The most residents work in schools and health care, then professional services.
Written by AI Claude Sonnet 5.5 wrote this on 23 October 2026 from the figures here, a list of nearby places and what it knows. It can be wrong or out of date.
What it’s like
The place. Minneapolis is the largest city in Minnesota, set along the Mississippi River. Its residents are younger than in most places, and more of them rent their homes than across Hennepin County as a whole. Household incomes run below the county's, and more people live below the poverty line than is typical, though a large share of adults hold a four-year degree. Winters are colder than in most of the country, with January highs well below freezing, while July brings warm days, and the year's rain and melted snow is moderate.
Work. Schools, hospitals and social care employ more residents than any other field, followed by professional and business services, shops and manufacturing. The biggest workplaces in Minneapolis include the University of Minnesota-Twin Cities, Hennepin County and Target. Many people work from home, and the typical commute is a moderate one. Unemployment is a little higher than a year ago, and Hennepin County has added only a small number of jobs over the past year.
Things to do. The Minneapolis Institute of Art and the Walker Art Center are among the best known museums, both in or beside town, and the Guthrie Theater is a theatre in the same area. Saint Anthony Falls is a waterfall on the river, also in or beside town. For time outdoors, Bde Maka Ska is a lake in or beside town.
Report a mistake
- 192,734households
- 56%of adults have a degree
- 16%below the poverty line
- 22 mintypical commute
- 26%work from home
What residents work in
Employed residents by industry, from the Census survey. Hennepin County had 919,062 jobs in 2025, 0.2% more than the year before (Bureau of Labor Statistics).
Weather through the year
Coldest in January, with highs near 22° and lows near 8°; warmest in July, with highs near 83° and lows near 64°. About 34 inches of rain and melted snow a year.
Average daily high and low, 1991–2020, at the Lower St. Anthony Falls weather station, 2 miles away (NOAA).
Largest workplaces in Minneapolis
- University of Minnesota-Twin CitiesUniversity or college19,735
- Hennepin CountyGeneral government9,367
- TargetDiscount department stores8,437
- University of Minnesota Medical CTRGeneral hospital5,810FTE
- Hennepin County Medical CenterGeneral hospital5,644FTE
- Abbott Northwestern HospitalGeneral hospital5,265FTE
- Minneapolis Public School DistrictSchool district5,256FTE
- Children's Health CareChildren's hospital4,394FTE
Staff on average in 2025, as each workplace reported it to OSHA with its injury records: 501 workplaces with 20 or more staff, 136,519 people in all. Colleges come from IPEDS (NCES, 2023–24), hospitals from their Medicare cost reports (CMS, 2023) and school districts from the Common Core of Data (NCES, 2023–24); FTE marks full-time equivalent staff. Not listed: many offices and banks, which need not report to OSHA; military bases, whose staff OPM withholds; and, in about half the states, city and county governments.
Natural hazards
- Cold wavesRelatively high
- Hailrelatively high in parts of MinneapolisRelatively moderate
- Heat wavesrelatively high in parts of MinneapolisRelatively moderate
- Tornadoesrelatively high in parts of MinneapolisRelatively moderate
- Winter weatherRelatively moderate
FEMA’s National Risk Index (December 2025) rates the risk each natural hazard poses to the people, buildings and farms in Minneapolis’ census tracts, against the rest of the country; all of them together, relatively low. It is meant for planning, not a substitute for a local risk assessment or a flood map: FEMA’s index.
From the U.S. Census Bureau’s 2020 census and its American Community Survey (2020–2024 five-year estimates), and the Bureau of Labor Statistics. A survey, so each figure has a margin of error, and figures it is not sure of are left out. More on Hennepin County and the Minneapolis-St. Paul-Bloomington, MN-WI metro.
Minneapolis home values
Zillow measures a city over its municipal boundary. Against the state and national figures, mid-tier homes, smoothed and seasonally adjusted.
- Minneapolis$328,351
- Minnesota$348,778
- United States$366,157
Levy by levy, and a check of one home’s own bill, the site covers Ohio’s property tax.
Sellers are cutting prices on about 1 in 4 Minneapolis listings, and the typical home goes pending in 25 days — the market is cooling.
When this market ran hot
Each cell is that month's year-on-year home-value growth. Read left to right, top row is the latest year — the 2021–22 band is the boom.
Market heat, inside the city limits
Share of listings with a price cut
The early-warning dial: sellers cut when buyers stop reaching. Rising cuts cool a market months before prices notice.
- Minneapolis26.63%
- United States26.90%
Days to pending
How long the typical listing takes to go under contract.
- Minneapolis25
- United States27
Homes for sale
Active for-sale inventory. More supply hands power to buyers.
- Minneapolis1,462
New listings per month
Sellers arriving at the market.
- Minneapolis438
Median sale price
What buyers actually paid — closed sales, not asking prices.
- Minneapolis$337,736
- United States$371,407
Sale-to-list ratio
Above 100%, homes sell over asking; below, buyers negotiate wins.
- Minneapolis100.86%
Zip codes with a Minneapolis address
A different geography, not a breakdown. The figure above covers the municipality; these zips cover everywhere the Post Office calls Minneapolis — often including townships beyond the city limits. Both come straight from Zillow, and they are not expected to average out.
Zip codes in Minneapolis
| Zip activate to sort by Zip | Place activate to sort by Place | Population sorted descending, activate to sort ascending | Rent activate to sort by Rent | Home value activate to sort by Home value |
|---|---|---|---|---|
| 55407 | Minneapolis | 37,667 | $1,551 | $312,479 |
| 55406 | Minneapolis | 36,581 | $1,407 | $342,706 |
| 55414 | Minneapolis | 35,007 | $2,160 | $339,336 |
| 55408 | Minneapolis | 31,507 | $1,488 | $286,983 |
| 55418 | Minneapolis | 31,505 | $1,760 | $349,101 |
| 55419 | Minneapolis | 29,738 | $1,789 | $497,114 |
| 55404 | Minneapolis | 28,920 | $1,461 | $235,958 |
| 55411 | Minneapolis | 27,741 | $1,749 | $240,726 |
| 55417 | Minneapolis | 25,102 | $1,826 | $373,819 |
| 55412 | Minneapolis | 24,460 | $1,730 | $232,290 |
| 55410 | Minneapolis | 20,422 | $2,352 | $596,214 |
| 55403 | Minneapolis | 17,601 | $1,420 | $194,620 |
| 55405 | Minneapolis | 17,198 | $1,357 | $463,447 |
| 55413 | Minneapolis | 14,655 | $1,783 | $323,944 |
| 55401 | Minneapolis | 11,816 | $2,034 | $303,056 |
| 55409 | Minneapolis | 11,188 | $1,487 | $372,775 |
| 55454 | Minneapolis | 8,880 | $1,822 | $145,323 |
| 55415 | Minneapolis | 6,900 | $2,091 | $357,025 |