Market Overview
Home Prices in Savage, MN
The median home value in Savage, MN is $434,922 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 1.7% compared to a year ago and up 0.9% from two years prior.
Compared to the U.S. national median of $410,000, homes in Savage are priced6% above average. Savage is part of the Minneapolis-St. Paul-Bloomington, MN-WI metro area.
Over the past five years, Savage home values have risen by approximately13.3%, reflecting steady appreciation in this market.
Price History
Savage Home Price Trend
City Comparison
Savage vs. National Median
At $434,922, homes in Savage cost 6% above the national median of $410,000. Buyers in Savage should expect to pay a premium compared to most U.S. markets.
Affordability
What Does It Cost to Buy in Savage?
20% Down Payment
$86,984
on $434,922
Monthly P&I
$2,268/mo
30-yr @ 6.8%
Total Monthly Est.
~$2,880/mo
incl. taxes & insurance
Income Needed
$115,200
gross annual (30% rule)
10% Down Option
$43,492
+ PMI applies
Loan Amount (20% dn)
$347,938
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 Savage, MN?
The median home value in Savage is $434,922 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 1.7% year-over-year.
How much have home prices changed in Savage?
Over the past year, home values in Savage have increased by 1.7%. Over five years, prices have risen approximately 13.3%.
How much do I need to earn to buy a home in Savage?
To comfortably afford the median home price of $434,922 with a 20% down payment ($86,984) at today's rates (6.8%), you'd need a gross annual income of approximately $115,200. This assumes keeping total housing costs at or below 30% of gross income.
How does Savage compare to the national average home price?
The national median home value is approximately $410,000. At $434,922, homes in Savage are 6% above the national average.
What metro area is Savage part of?
Savage is part of the Minneapolis-St. Paul-Bloomington, MN-WI metropolitan area. Home prices and market conditions can vary across the broader metro region.