Market Overview
Home Prices in Shakopee, MN
The median home value in Shakopee, MN is $412,597 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 1.2% compared to a year ago and up 1.3% from two years prior.
Compared to the U.S. national median of $410,000, homes in Shakopee are priced1% above average. Shakopee is part of the Minneapolis-St. Paul-Bloomington, MN-WI metro area.
Over the past five years, Shakopee home values have risen by approximately12.4%, reflecting steady appreciation in this market.
Price History
Shakopee Home Price Trend
City Comparison
Shakopee vs. National Median
At $412,597, homes in Shakopee cost 1% above the national median of $410,000. Buyers in Shakopee should expect to pay a premium compared to most U.S. markets.
Affordability
What Does It Cost to Buy in Shakopee?
20% Down Payment
$82,519
on $412,597
Monthly P&I
$2,152/mo
30-yr @ 6.8%
Total Monthly Est.
~$2,733/mo
incl. taxes & insurance
Income Needed
$109,320
gross annual (30% rule)
10% Down Option
$41,260
+ PMI applies
Loan Amount (20% dn)
$330,078
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 Shakopee, MN?
The median home value in Shakopee is $412,597 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 1.2% year-over-year.
How much have home prices changed in Shakopee?
Over the past year, home values in Shakopee have increased by 1.2%. Over five years, prices have risen approximately 12.4%.
How much do I need to earn to buy a home in Shakopee?
To comfortably afford the median home price of $412,597 with a 20% down payment ($82,519) at today's rates (6.8%), you'd need a gross annual income of approximately $109,320. This assumes keeping total housing costs at or below 30% of gross income.
How does Shakopee compare to the national average home price?
The national median home value is approximately $410,000. At $412,597, homes in Shakopee are 1% above the national average.
What metro area is Shakopee part of?
Shakopee is part of the Minneapolis-St. Paul-Bloomington, MN-WI metropolitan area. Home prices and market conditions can vary across the broader metro region.