Market Overview
Home Prices in Shafer, MN
The median home value in Shafer, MN is $359,100 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 2% compared to a year ago and down 0.4% from two years prior.
Compared to the U.S. national median of $410,000, homes in Shafer are priced12% below average. Shafer is part of the Minneapolis-St. Paul-Bloomington, MN-WI metro area.
Over the past five years, Shafer home values have risen by approximately9.3%, reflecting steady appreciation in this market.
Price History
Shafer Home Price Trend
City Comparison
Shafer vs. National Median
At $359,100, homes in Shafer cost 12% below the national median of $410,000. This makes Shafer a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Shafer?
20% Down Payment
$71,820
on $359,100
Monthly P&I
$1,873/mo
30-yr @ 6.8%
Total Monthly Est.
~$2,379/mo
incl. taxes & insurance
Income Needed
$95,160
gross annual (30% rule)
10% Down Option
$35,910
+ PMI applies
Loan Amount (20% dn)
$287,280
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 Shafer, MN?
The median home value in Shafer is $359,100 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 2% year-over-year.
How much have home prices changed in Shafer?
Over the past year, home values in Shafer have increased by 2%. Over five years, prices have risen approximately 9.3%.
How much do I need to earn to buy a home in Shafer?
To comfortably afford the median home price of $359,100 with a 20% down payment ($71,820) at today's rates (6.8%), you'd need a gross annual income of approximately $95,160. This assumes keeping total housing costs at or below 30% of gross income.
How does Shafer compare to the national average home price?
The national median home value is approximately $410,000. At $359,100, homes in Shafer are 12% below the national average.
What metro area is Shafer part of?
Shafer is part of the Minneapolis-St. Paul-Bloomington, MN-WI metropolitan area. Home prices and market conditions can vary across the broader metro region.