Market Overview
Home Prices in Spring Lake Park, MN
The median home value in Spring Lake Park, MN is $327,164 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 2.6% compared to a year ago and up 1.4% from two years prior.
Compared to the U.S. national median of $410,000, homes in Spring Lake Park are priced20% below average. Spring Lake Park is part of the Minneapolis-St. Paul-Bloomington, MN-WI metro area.
Over the past five years, Spring Lake Park home values have risen by approximately13.9%, reflecting steady appreciation in this market.
Price History
Spring Lake Park Home Price Trend
City Comparison
Spring Lake Park vs. National Median
At $327,164, homes in Spring Lake Park cost 20% below the national median of $410,000. This makes Spring Lake Park a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Spring Lake Park?
20% Down Payment
$65,433
on $327,164
Monthly P&I
$1,706/mo
30-yr @ 6.8%
Total Monthly Est.
~$2,167/mo
incl. taxes & insurance
Income Needed
$86,680
gross annual (30% rule)
10% Down Option
$32,716
+ PMI applies
Loan Amount (20% dn)
$261,731
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 Spring Lake Park, MN?
The median home value in Spring Lake Park is $327,164 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 2.6% year-over-year.
How much have home prices changed in Spring Lake Park?
Over the past year, home values in Spring Lake Park have increased by 2.6%. Over five years, prices have risen approximately 13.9%.
How much do I need to earn to buy a home in Spring Lake Park?
To comfortably afford the median home price of $327,164 with a 20% down payment ($65,433) at today's rates (6.8%), you'd need a gross annual income of approximately $86,680. This assumes keeping total housing costs at or below 30% of gross income.
How does Spring Lake Park compare to the national average home price?
The national median home value is approximately $410,000. At $327,164, homes in Spring Lake Park are 20% below the national average.
What metro area is Spring Lake Park part of?
Spring Lake Park is part of the Minneapolis-St. Paul-Bloomington, MN-WI metropolitan area. Home prices and market conditions can vary across the broader metro region.