Market Overview
Home Prices in Greenwood, MN
The median home value in Greenwood, MN is $1,709,359 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 9.7% compared to a year ago and up 2.7% from two years prior.
Compared to the U.S. national median of $410,000, homes in Greenwood are priced317% above average. Greenwood is part of the Minneapolis-St. Paul-Bloomington, MN-WI metro area.
Over the past five years, Greenwood home values have risen by approximately36.5%, reflecting strong long-term appreciation in this market.
Price History
Greenwood Home Price Trend
City Comparison
Greenwood vs. National Median
At $1,709,359, homes in Greenwood cost 317% above the national median of $410,000. Buyers in Greenwood should expect to pay a premium compared to most U.S. markets.
Affordability
What Does It Cost to Buy in Greenwood?
20% Down Payment
$341,872
on $1,709,359
Monthly P&I
$8,915/mo
30-yr @ 6.8%
Total Monthly Est.
~$11,322/mo
incl. taxes & insurance
Income Needed
$452,880
gross annual (30% rule)
10% Down Option
$170,936
+ PMI applies
Loan Amount (20% dn)
$1,367,487
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 Greenwood, MN?
The median home value in Greenwood is $1,709,359 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 9.7% year-over-year.
How much have home prices changed in Greenwood?
Over the past year, home values in Greenwood have increased by 9.7%. Over five years, prices have risen approximately 36.5%.
How much do I need to earn to buy a home in Greenwood?
To comfortably afford the median home price of $1,709,359 with a 20% down payment ($341,872) at today's rates (6.8%), you'd need a gross annual income of approximately $452,880. This assumes keeping total housing costs at or below 30% of gross income.
How does Greenwood compare to the national average home price?
The national median home value is approximately $410,000. At $1,709,359, homes in Greenwood are 317% above the national average.
What metro area is Greenwood part of?
Greenwood is part of the Minneapolis-St. Paul-Bloomington, MN-WI metropolitan area. Home prices and market conditions can vary across the broader metro region.