Market Overview
Home Prices in Merrifield, MN
The median home value in Merrifield, MN is $463,754 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 4% compared to a year ago and up 1.8% from two years prior.
Compared to the U.S. national median of $410,000, homes in Merrifield are priced13% above average. Merrifield is part of the Brainerd, MN metro area.
Over the past five years, Merrifield home values have risen by approximately34.5%, reflecting strong long-term appreciation in this market.
Price History
Merrifield Home Price Trend
City Comparison
Merrifield vs. National Median
At $463,754, homes in Merrifield cost 13% above the national median of $410,000. Buyers in Merrifield should expect to pay a premium compared to most U.S. markets.
Affordability
What Does It Cost to Buy in Merrifield?
20% Down Payment
$92,751
on $463,754
Monthly P&I
$2,419/mo
30-yr @ 6.8%
Total Monthly Est.
~$3,072/mo
incl. taxes & insurance
Income Needed
$122,880
gross annual (30% rule)
10% Down Option
$46,375
+ PMI applies
Loan Amount (20% dn)
$371,003
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 Merrifield, MN?
The median home value in Merrifield is $463,754 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 4% year-over-year.
How much have home prices changed in Merrifield?
Over the past year, home values in Merrifield have increased by 4%. Over five years, prices have risen approximately 34.5%.
How much do I need to earn to buy a home in Merrifield?
To comfortably afford the median home price of $463,754 with a 20% down payment ($92,751) at today's rates (6.8%), you'd need a gross annual income of approximately $122,880. This assumes keeping total housing costs at or below 30% of gross income.
How does Merrifield compare to the national average home price?
The national median home value is approximately $410,000. At $463,754, homes in Merrifield are 13% above the national average.
What metro area is Merrifield part of?
Merrifield is part of the Brainerd, MN metropolitan area. Home prices and market conditions can vary across the broader metro region.