Housing in Minneapolis, MN 55403 is significantly below the US median value, coming in at $261,600 compared to the US median of $338,100. The US has seen a 1 year appreciation of 8.27%, however Minneapolis only saw an appreciation of 4.79%, indicating that while house prices are still increasing, they aren't increasing as quickly or drastically as other parts of the US. Despite the slower growth rate in Minneapolis it is still an excellent area to invest in real estate with fairly low housing costs and plenty of potential for appreciation over time.
The median home cost in Minneapolis (zip 55403) is $261,600. Home appreciation the last 10 years has been 89.0%. Home Appreciation in Minneapolis (zip 55403) is up 7.1%.
Average Age of Homes
- The median age of Minneapolis (zip 55403) real estate is 52 years old
The Rental Market in Minneapolis (zip 55403)
- Renters make up 69.9% of the Minneapolis (zip 55403) population
- 6.2% of houses and apartments in Minneapolis (zip 55403), 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.