The housing market in Minneapolis, MN has been a stable yet slower-moving market compared to the rest of the US. The median value for a house in Minneapolis is $294,200, which is significantly lower than the US median value of $338,100. While the US has seen an 8.27% increase in home appreciation over the past year, Minneapolis has only seen a 4.79% increase. This suggests that while Minneapolis is still seeing positive growth in their housing market, it isn't as fast-paced as other areas of the country.
The median home cost in Minneapolis is $294,200. Home appreciation the last 10 years has been 89.0%. Home Appreciation in Minneapolis is up 7.1%.
Average Age of Homes
- The median age of Minneapolis real estate is 71 years old
The Rental Market in Minneapolis
- Renters make up 47.4% of the Minneapolis population
- 2.4% of houses and apartments in Minneapolis, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.