Market Overview
Home Prices in Tofte, MN
The median home value in Tofte, MN is $465,251 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 6.6% compared to a year ago and up 2.7% from two years prior.
Compared to the U.S. national median of $410,000, homes in Tofte are priced13% above average.
Over the past five years, Tofte home values have risen by approximately33.6%, reflecting strong long-term appreciation in this market.
Price History
Tofte Home Price Trend
2020
$308,273
$308K
—
2021
$348,300
$348K
+13.0%
2022
$404,302
$404K
+16.1%
2023
$407,369
$407K
+0.8%
2024
$425,149
$425K
+4.4%
2025
$436,590
$437K
+2.7%
2026
$465,251
$465K
+6.6%
City Comparison
Tofte vs. National Median
🏠 Tofte
$465,251
National Median
$410,000
At $465,251, homes in Tofte cost 13% above the national median of $410,000. Buyers in Tofte should expect to pay a premium compared to most U.S. markets.
Affordability
What Does It Cost to Buy in Tofte?
20% Down Payment
$93,050
on $465,251
Monthly P&I
$2,426/mo
30-yr @ 6.8%
Total Monthly Est.
~$3,081/mo
incl. taxes & insurance
Income Needed
$123,240
gross annual (30% rule)
10% Down Option
$46,525
+ PMI applies
Loan Amount (20% dn)
$372,201
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 Tofte, MN?
The median home value in Tofte is $465,251 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 6.6% year-over-year.
How much have home prices changed in Tofte?
Over the past year, home values in Tofte have increased by 6.6%. Over five years, prices have risen approximately 33.6%.
How much do I need to earn to buy a home in Tofte?
To comfortably afford the median home price of $465,251 with a 20% down payment ($93,050) at today's rates (6.8%), you'd need a gross annual income of approximately $123,240. This assumes keeping total housing costs at or below 30% of gross income.
How does Tofte compare to the national average home price?
The national median home value is approximately $410,000. At $465,251, homes in Tofte are 13% above the national average.