Market Overview
Home Prices in Hoffman, MN
The median home value in Hoffman, MN is $242,599 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 7.4% compared to a year ago and up 1.7% from two years prior.
Compared to the U.S. national median of $410,000, homes in Hoffman are priced41% below average. Hoffman is part of the Alexandria, MN metro area.
Over the past five years, Hoffman home values have risen by approximately37.1%, reflecting strong long-term appreciation in this market.
Price History
Hoffman Home Price Trend
City Comparison
Hoffman vs. National Median
At $242,599, homes in Hoffman cost 41% below the national median of $410,000. This makes Hoffman a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Hoffman?
20% Down Payment
$48,520
on $242,599
Monthly P&I
$1,265/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,607/mo
incl. taxes & insurance
Income Needed
$64,280
gross annual (30% rule)
10% Down Option
$24,260
+ PMI applies
Loan Amount (20% dn)
$194,079
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 Hoffman, MN?
The median home value in Hoffman is $242,599 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 7.4% year-over-year.
How much have home prices changed in Hoffman?
Over the past year, home values in Hoffman have increased by 7.4%. Over five years, prices have risen approximately 37.1%.
How much do I need to earn to buy a home in Hoffman?
To comfortably afford the median home price of $242,599 with a 20% down payment ($48,520) at today's rates (6.8%), you'd need a gross annual income of approximately $64,280. This assumes keeping total housing costs at or below 30% of gross income.
How does Hoffman compare to the national average home price?
The national median home value is approximately $410,000. At $242,599, homes in Hoffman are 41% below the national average.
What metro area is Hoffman part of?
Hoffman is part of the Alexandria, MN metropolitan area. Home prices and market conditions can vary across the broader metro region.