Minneapolis - MN housing market
The Minneapolis metro has a typical home value of $388,865, up 1.8% from a year ago. Homes sell in 23 days on average, a balanced market. 27% of listings have had a price cut. Data from Zillow Research, updated monthly.
Minneapolis housing market, October 2026
The typical Minneapolis home is worth $388,865 as of August 2026, up 0.2% from the prior month, up 0.0% over three months, and up 1.8% from a year ago. Over the past two years values have ranged from $375,211 to $389,755.
Homes are going pending in about 23 days, slower than the 17 days seen three months earlier. There are roughly 13,908 homes for sale, 19% more than a year ago. 27.4% of listings have taken a price cut (up from 19.5% three months ago).
Typical rent is $1,719 a month, up 3.6% year over year, which puts the price-to-rent ratio at 18.8.
At this week's 7.40% mortgage rate with 20% down ($77,773), the typical Minneapolis home costs about $2,640 a month including tax and insurance, which needs a household income of roughly $113,100 to stay under a 28% payment-to-income ratio.
Income needed to buy assumes 20% down, a 30-year fixed mortgage at 7.4% (Freddie Mac weekly average), property tax at 1.1% and insurance at 0.4% of value per year, and a 28% payment-to-income cap. Local taxes and insurance vary; treat it as a comparison figure across metros, not a lender's answer. All metros ranked →
How to read this data
The typical home value ($388,865) is the Zillow Home Value Index for the Minneapolis - MN metro area: a smoothed, seasonally adjusted estimate of the typical value for middle-tier homes (33rd to 67th percentile) across single-family and condo properties.
Prices are up 1.8% over the past year. In Minneapolis - MN, that means a home worth $381,989 last year is now worth roughly $388,865.
The median sale price, what homes actually close for, is $373,268. Homes are selling at 100.7% of list price, meaning buyers are typically paying at or above asking.
Homes listed in Minneapolis - MN sit on the market for roughly 23 days before going pending. Shorter = seller's market; longer = buyer's market.
About 27.4% of current listings have had at least one price cut. High price-cut shares signal sellers are adjusting expectations downward.
Roughly 5,063 new listings hit the market each month in Minneapolis - MN. There are currently 13,908 homes for sale, up 18.7% from a year ago.
The typical monthly rent in Minneapolis - MN is $1,719, up 3.6% year over year. On the Rent vs Buy Index that is a price-to-rent ratio of 18.9x, toss-up (#63 of 195 metros). The mortgage on a typical home here, 20% down at today's 7.4% 30-year rate, runs about $2,154 a month in principal and interest, $435 more than renting before taxes, insurance and upkeep. The two break even at a 5.26% rate.
What's not on this page
This is market-level data, not property-level. We don't list individual homes for sale. For that, go to Zillow, Redfin, or your local MLS.
Data: Zillow Research (ZHVI and market indicators), refreshed monthly at the source. This page was rebuilt October 2026. Methodology →
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Other metros in MN
| Metro | Home value | 1-yr change | Days on market |
|---|---|---|---|
| Duluth - MN | $265,012 | +5.7% | 12.0d |