Market Overview
Home Prices in Canby, MN
The median home value in Canby, MN is $201,496 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 4.9% compared to a year ago and up 3.7% from two years prior.
Compared to the U.S. national median of $410,000, homes in Canby are priced51% below average.
Over the past five years, Canby home values have risen by approximately24.9%, reflecting strong long-term appreciation in this market.
Price History
Canby Home Price Trend
2020
$142,806
$143K
—
2021
$161,289
$161K
+12.9%
2022
$189,947
$190K
+17.8%
2023
$189,854
$190K
+-0.0%
2024
$185,213
$185K
-2.4%
2025
$192,126
$192K
+3.7%
2026
$201,496
$201K
+4.9%
City Comparison
Canby vs. National Median
🏠 Canby
$201,496
National Median
$410,000
At $201,496, homes in Canby cost 51% below the national median of $410,000. This makes Canby a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Canby?
20% Down Payment
$40,299
on $201,496
Monthly P&I
$1,051/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,335/mo
incl. taxes & insurance
Income Needed
$53,400
gross annual (30% rule)
10% Down Option
$20,150
+ PMI applies
Loan Amount (20% dn)
$161,197
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 Canby, MN?
The median home value in Canby is $201,496 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 4.9% year-over-year.
How much have home prices changed in Canby?
Over the past year, home values in Canby have increased by 4.9%. Over five years, prices have risen approximately 24.9%.
How much do I need to earn to buy a home in Canby?
To comfortably afford the median home price of $201,496 with a 20% down payment ($40,299) at today's rates (6.8%), you'd need a gross annual income of approximately $53,400. This assumes keeping total housing costs at or below 30% of gross income.
How does Canby compare to the national average home price?
The national median home value is approximately $410,000. At $201,496, homes in Canby are 51% below the national average.