Market Overview
Home Prices in Andover, MN
The median home value in Andover, MN is $450,343 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 2.2% compared to a year ago and up 1.9% from two years prior.
Compared to the U.S. national median of $410,000, homes in Andover are priced10% above average. Andover is part of the Minneapolis-St. Paul-Bloomington, MN-WI metro area.
Over the past five years, Andover home values have risen by approximately15.4%, reflecting steady appreciation in this market.
Price History
Andover Home Price Trend
City Comparison
Andover vs. National Median
At $450,343, homes in Andover cost 10% above the national median of $410,000. Buyers in Andover should expect to pay a premium compared to most U.S. markets.
Affordability
What Does It Cost to Buy in Andover?
20% Down Payment
$90,069
on $450,343
Monthly P&I
$2,349/mo
30-yr @ 6.8%
Total Monthly Est.
~$2,983/mo
incl. taxes & insurance
Income Needed
$119,320
gross annual (30% rule)
10% Down Option
$45,034
+ PMI applies
Loan Amount (20% dn)
$360,274
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Andover, MN?
The median home value in Andover is $450,343 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 2.2% year-over-year.
How much have home prices changed in Andover?
Over the past year, home values in Andover have increased by 2.2%. Over five years, prices have risen approximately 15.4%.
How much do I need to earn to buy a home in Andover?
To comfortably afford the median home price of $450,343 with a 20% down payment ($90,069) at today's rates (6.8%), you'd need a gross annual income of approximately $119,320. This assumes keeping total housing costs at or below 30% of gross income.
How does Andover compare to the national average home price?
The national median home value is approximately $410,000. At $450,343, homes in Andover are 10% above the national average.
What metro area is Andover part of?
Andover is part of the Minneapolis-St. Paul-Bloomington, MN-WI metropolitan area. Home prices and market conditions can vary across the broader metro region.