Market Overview
Home Prices in Minneapolis, MN
The median home value in Minneapolis, MN is $336,624 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 0.9% compared to a year ago and up 1.5% from two years prior.
Compared to the U.S. national median of $410,000, homes in Minneapolis are priced18% below average. Minneapolis is part of the Minneapolis-St. Paul-Bloomington, MN-WI metro area.
Over the past five years, Minneapolis home values have risen by approximately3.5%, reflecting modest growth in this market.
Price History
Minneapolis Home Price Trend
City Comparison
Minneapolis vs. National Median
At $336,624, homes in Minneapolis cost 18% below the national median of $410,000. This makes Minneapolis a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Minneapolis?
20% Down Payment
$67,325
on $336,624
Monthly P&I
$1,756/mo
30-yr @ 6.8%
Total Monthly Est.
~$2,230/mo
incl. taxes & insurance
Income Needed
$89,200
gross annual (30% rule)
10% Down Option
$33,662
+ PMI applies
Loan Amount (20% dn)
$269,299
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 Minneapolis, MN?
The median home value in Minneapolis is $336,624 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 0.9% year-over-year.
How much have home prices changed in Minneapolis?
Over the past year, home values in Minneapolis have increased by 0.9%. Over five years, prices have risen approximately 3.5%.
How much do I need to earn to buy a home in Minneapolis?
To comfortably afford the median home price of $336,624 with a 20% down payment ($67,325) at today's rates (6.8%), you'd need a gross annual income of approximately $89,200. This assumes keeping total housing costs at or below 30% of gross income.
How does Minneapolis compare to the national average home price?
The national median home value is approximately $410,000. At $336,624, homes in Minneapolis are 18% below the national average.
What metro area is Minneapolis part of?
Minneapolis is part of the Minneapolis-St. Paul-Bloomington, MN-WI metropolitan area. Home prices and market conditions can vary across the broader metro region.