Market Overview
Home Prices in Cleveland, MN
The median home value in Cleveland, MN is $393,722 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 2.5% compared to a year ago and up 5.1% from two years prior.
Compared to the U.S. national median of $410,000, homes in Cleveland are priced4% below average. Cleveland is part of the Minneapolis-St. Paul-Bloomington, MN-WI metro area.
Over the past five years, Cleveland home values have risen by approximately28.3%, reflecting strong long-term appreciation in this market.
Price History
Cleveland Home Price Trend
City Comparison
Cleveland vs. National Median
At $393,722, homes in Cleveland cost 4% below the national median of $410,000. This makes Cleveland a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Cleveland?
20% Down Payment
$78,744
on $393,722
Monthly P&I
$2,053/mo
30-yr @ 6.8%
Total Monthly Est.
~$2,607/mo
incl. taxes & insurance
Income Needed
$104,280
gross annual (30% rule)
10% Down Option
$39,372
+ PMI applies
Loan Amount (20% dn)
$314,978
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 Cleveland, MN?
The median home value in Cleveland is $393,722 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 2.5% year-over-year.
How much have home prices changed in Cleveland?
Over the past year, home values in Cleveland have increased by 2.5%. Over five years, prices have risen approximately 28.3%.
How much do I need to earn to buy a home in Cleveland?
To comfortably afford the median home price of $393,722 with a 20% down payment ($78,744) at today's rates (6.8%), you'd need a gross annual income of approximately $104,280. This assumes keeping total housing costs at or below 30% of gross income.
How does Cleveland compare to the national average home price?
The national median home value is approximately $410,000. At $393,722, homes in Cleveland are 4% below the national average.
What metro area is Cleveland part of?
Cleveland is part of the Minneapolis-St. Paul-Bloomington, MN-WI metropolitan area. Home prices and market conditions can vary across the broader metro region.