Minnesota Housing Market Trends
Real-time market data powered by Zillow Research. Last updated: 2026-03-03
Is Now a Good Time to Buy in Minnesota?
The Minnesota housing market is showing balanced conditions.
home values have grown a moderate 2.4% year-over-year. there are currently 722 homes on the market.
Median Home Value
$335,400
Zillow Home Value Index
Year-over-Year
+2.4%
Home value change
5-Year Change
+23.6%
Since 2021
Median Rent
$1,308/mo
Zillow Observed Rent Index
Active Listings
722
Homes for sale
Home Value Trends
5-year Zillow Home Value Index (ZHVI) for Minnesota vs. national average. ZHVI reflects the typical home value in the 35th-65th percentile range.
Rent Trends
Average rent in Minnesota: $1,308/mo (+4.7% YoY)
Rent vs. Buy Analysis
With a median home value of $335,400 and average rent of $1,308/mo, the price-to-rent ratio in Minnesota is 21.4. A ratio above 21 suggests renting may be more cost-effective.
Run Full Rent vs. Buy CalculatorTop Markets in Minnesota
Explore housing data for 12 metro areas in Minnesota. Click any market for detailed trends and analysis.
Minneapolis, MN
$373,919
Avg rent: $1,665/mo
Brainerd, MN
$339,222
Avg rent: $1,292/mo
Faribault, MN
$335,130
Avg rent: $1,566/mo
Alexandria, MN
$326,983
Rochester, MN
$323,702
Red Wing, MN
$313,663
Avg rent: $1,113/mo
Fergus Falls, MN
$310,140
Avg rent: $886/mo
St. Cloud, MN
$301,924
Avg rent: $1,175/mo
Mankato, MN
$294,872
Avg rent: $1,489/mo
Owatonna, MN
$283,746
Avg rent: $1,136/mo
Hutchinson, MN
$283,299
Winona, MN
$268,486
Avg rent: $1,060/mo
Continue Learning About Minnesota
Market data provided by Zillow Research. Zillow Home Value Index (ZHVI) and Zillow Observed Rent Index (ZORI) are trademarks of Zillow, Inc.