Market Overview
Home Prices in Vermillion, MN
The median home value in Vermillion, MN is $352,484 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 3.3% compared to a year ago and up 3.4% from two years prior.
Compared to the U.S. national median of $410,000, homes in Vermillion are priced14% below average. Vermillion is part of the Minneapolis-St. Paul-Bloomington, MN-WI metro area.
Over the past five years, Vermillion home values have risen by approximately19.2%, reflecting steady appreciation in this market.
Price History
Vermillion Home Price Trend
City Comparison
Vermillion vs. National Median
At $352,484, homes in Vermillion cost 14% below the national median of $410,000. This makes Vermillion a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Vermillion?
20% Down Payment
$70,497
on $352,484
Monthly P&I
$1,838/mo
30-yr @ 6.8%
Total Monthly Est.
~$2,334/mo
incl. taxes & insurance
Income Needed
$93,360
gross annual (30% rule)
10% Down Option
$35,248
+ PMI applies
Loan Amount (20% dn)
$281,987
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 Vermillion, MN?
The median home value in Vermillion is $352,484 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 3.3% year-over-year.
How much have home prices changed in Vermillion?
Over the past year, home values in Vermillion have increased by 3.3%. Over five years, prices have risen approximately 19.2%.
How much do I need to earn to buy a home in Vermillion?
To comfortably afford the median home price of $352,484 with a 20% down payment ($70,497) at today's rates (6.8%), you'd need a gross annual income of approximately $93,360. This assumes keeping total housing costs at or below 30% of gross income.
How does Vermillion compare to the national average home price?
The national median home value is approximately $410,000. At $352,484, homes in Vermillion are 14% below the national average.
What metro area is Vermillion part of?
Vermillion is part of the Minneapolis-St. Paul-Bloomington, MN-WI metropolitan area. Home prices and market conditions can vary across the broader metro region.